Upstream M&A in Southeast Asia: will the oil and gas majors divest in 2023?
Will 2023 see the majors, including ExxonMobil, Chevron, Shell, BP, ConocoPhillips, TotalEnergies, and Eni, divest upstream oil and gas assets in Southeast Asia?
Asia
Asia Oil and Gas news and updates
Upstream oil and gas M&A opportunities in Indonesia for 2023
Despite the above-surface challenges, Indonesia's subsurface oil and gas potential remains attractive. More upstream M&A is on the cards as majors, independents and NOCs reshuffle their portfolios.
Keppel delivers Guyana’s third FPSO for ExxonMobil-led consortium
The Prosperity FPSO will be the third of four FPSOs Keppel is undertaking for deployment in Guyana.
Repsol awaits Indonesia regulation to carry out CCS project
Spanish oil and gas company Repsol (BME:REP) is waiting for the issuance of an Indonesian presidential regulation and the derivative regulations to progress its proposed carbon capture and storage (CCS) project in Sakakemang block, onshore South Sumatra, in Indonesia.
Chinese patrols near oil and gas in disputed South China Sea hit new peak with tensions high
China’s Coast Guard maintained near-daily patrols at key features across the disputed South China Sea last year, ramping up its presence as tensions over the waterway with Southeast Asian neighbours remain high, new tracking data shows.
$16bn of oil and gas investment expected in Asia-Pacific in 2023
There's a $16bn project pipeline predicted for 2023 in Asia-Pac, but nearly a third are at high-risk of delay.
All Asia Posts
TotalEnergies charts $3.1bn Adani exposure
TotalEnergies (PAR:TTE) has provided an update on its joint ventures with Adani Group, after a rout of the latter’s stock has left its financial health in question.
Upstream oil and gas M&A opportunities in Indonesia for 2023
Despite the above-surface challenges, Indonesia's subsurface oil and gas potential remains attractive. More upstream M&A is on the cards as majors, independents and NOCs reshuffle their portfolios.
Repsol awaits Indonesia regulation to carry out CCS project
Spanish oil and gas company Repsol (BME:REP) is waiting for the issuance of an Indonesian presidential regulation and the derivative regulations to progress its proposed carbon capture and storage (CCS) project in Sakakemang block, onshore South Sumatra, in Indonesia.
Asia’s offshore mega wind farms risk delays from ship shortage
Asian nations counting on offshore wind farms to meet clean energy goals are facing an increasing shortage of ships for installing the massive turbines in the sea.
Keppel delivers Guyana’s third FPSO for ExxonMobil-led consortium
The Prosperity FPSO will be the third of four FPSOs Keppel is undertaking for deployment in Guyana.
Seven-figure contract wins start 2023 off with a bang for Decom Engineering
Decom Engineering has kicked off the new year with a stream of global project wins and awards valued in excess of seven figures, as it eyes further growth and recruitment through 2023.
India says its path to net zero must pass through fossil fuels
India defended its use of fossil fuels citing energy security priorities, even as the country vowed to remain committed to decarbonisation.
Upstream M&A in Southeast Asia: will the oil and gas majors divest in 2023?
Will 2023 see the majors, including ExxonMobil, Chevron, Shell, BP, ConocoPhillips, TotalEnergies, and Eni, divest upstream oil and gas assets in Southeast Asia?
Question mark over Beach’s LNG deal with BP as wells disappoint
Australia’s Beach Energy (ASX:BPT) has significantly cut estimated gas reserves at its LNG export project near Perth, Western Australia, by 11% following the Waitsia Stage 2 drilling campaign. BP (LON:BP) has an agreement to offtake the liquefied natural gas (LNG) volumes, which could be in doubt if the geology does not stack up as expected.
Chinese patrols near oil and gas in disputed South China Sea hit new peak with tensions high
China’s Coast Guard maintained near-daily patrols at key features across the disputed South China Sea last year, ramping up its presence as tensions over the waterway with Southeast Asian neighbours remain high, new tracking data shows.
Brunei set to expand long-term LNG supply to Japan
Brunei LNG will start supplying liquefied natural gas (LNG) to Japan Petroleum Exploration Co. (JAPEX) from April as the company seeks to stabilise finances by boosting shipments to its largest export destination, reported Nikkei Asia.
Petronas and ExxonMobil sign CCS project deals
Petronas has signed two project development agreements with ExxonMobil (NYSE:XOM) to jointly pursue carbon capture and storage (CCS) activation projects in Malaysia.
Keppel O&M says it has fully paid $65m in fines to Brazil authorities
Keppel Offshore & Marine (Keppel O&M) said on Monday that it has made full payment of the fines and damages payable worth 343.6 million reais (US$65 million) to Brazil under a leniency agreement that had been set out earlier.
Philippines greenlights LNG project as domestic reserves shrink
The Philippines has approved a plan to build a small-scale liquefied natural gas (LNG) terminal, adding to six ongoing projects that are expected to boost domestic supply from imports as the Southeast Asian nation’s sole gas field dries up in three years.
Japan to drive low-carbon energy investment into Western Australia
The Western Australian government today signed a new Memorandum of Understanding (MOU) with the Japan Bank for International Cooperation (JBIC) covering hydrogen, ammonia, low emission technology and decarbonisation.
PTTEP delays $2bn M3 gas development in Myanmar
Thailand’s state-backed energy company PTT Exploration & Production (PTTEP) has decided to delay the development of its integrated gas-to-power project, that would use resources from the M3 Block, to generate electricity in Myanmar, according to a report in the Bangkok Post.
PTTEP seeking to divest Cash-Maple gas asset in Australia this year
Thailand’s state-backed energy company PTT Exploration and Production (PTTEP) expects to sell its Cash-Maple gas and condensate field in Australia in 2023, according to a report in the Bangkok Post.
Mega Australia-Singapore solar cable project wins lifeline to carry on building
An ambitious plan to power Singapore using Australian solar won another lifeline on Wednesday after a court in Sydney agreed to a sales process put forward by the project’s administrators.
Malaysia’s MISC teams up with Japan’s Mitsui and Korea’s SHI on CCS
Malaysia’s international energy shipping company MISC, which is closely tied to Petronas, has signed agreements with Japan’s Mitsui, South Korea’s Samsung Heavy Industries (SHI), and Austria’s ANDRITZ, to explore carbon capture and storage (CCS) solutions in the maritime value chain.
Bangladesh leans to coal power as renewables face challenges
Bangladesh is set to increase its coal-based power generation capacity to ensure supply security at a time when many other countries are focussing on cutting dependency on thermal coal power to achieve climate goals.
ExxonMobil and Japan’s Nippon Steel explore CCS deal
Japan’s Nippon Steel is considering capturing carbon dioxide (CO2) emissions from its Japanese steel mills for underground storage at facilities linked to ExxonMobil (NYSE:XOM) in countries including Australia, Malaysia and Indonesia, reported Nikkei Asia.
Australia’s Woodside pumps record oil and gas, eyes more FIDs in 2023
Woodside Energy (ASX:WDS) produced record volumes of oil and gas in 2022, the Australian LNG exporter announced today as it released its fourth quarter financials. Woodside is also getting ready for numerous final investment decisions (FIDs) on various projects in 2023.
US to boost pressure on China to stop importing Iran oil, envoy says
The US said it will increase pressure on China to stop buying Iranian oil, as the White House seeks to enforce sanctions aimed at curbing the Islamic Republic’s nuclear activities.
Sanctions-proof yuan to Putin’s rescue after oil cap hits budget
The price cap on Russian crude oil exports is starving President Vladimir Putin’s budget of income, though it likely won’t force him to ratchet down spending for years thanks to a $45 billion buffer of yuan reserves.
Santos Barossa LNG project hit again by indigenous culture worries
The development of the Santos-operated Barossa offshore gas development that will backfill the Darwin LNG export plant in Australia looks set to be further delayed after the offshore regulator suspended planned construction of an offshore pipeline due to indigenous heritage concerns.
