Australia’s Woodside (ASX:WPL) said today that its chief financial officer has resigned just as the liquefied natural gas (LNG) developed is seeking to finalise a A$41 billion (US$30.1 billion) merger with BHP Petroleum.
State-backed Malaysian energy company Petronas will jointly explore opportunities in carbon capture and storage (CCS) technologies with ExxonMobil (NYSE:XOM), to help decarbonise Malaysia’s upstream industry and provide storage solutions for Asia.
Japan's JERA, the world's largest individual buyer of liquefied natural gas (LNG), said today that it will buy a 25.7% interest in Freeport LNG Development in the US for about $2.5 billion as it races to secure LNG supplies.
Australian exports of liquefied natural gas (LNG) are likely to be zero in 2050 as all the existing projects are expected to have exhausted their proved plus probable (2P) reserves by then, EnergyQuest warned in its latest report.
China has again been contesting Malaysian oil and gas activity in the South China Sea. This time Beijing has been targeting Thai state-backed upstream player PTT Exploration & Production’s (BKK:PTTEP) upstream drilling operations offshore Sabah.
Chinese law enforcement vessels remain active at Harbour Energy’s (LON:HBR) Tuna Block in the Natuna Sea within Indonesia’s exclusive economic zone (EEZ), according to the latest analysis by Asia Maritime Transparency Initiative (AMTI). Their presence underscores Beijing’s assertion that it has territorial rights in this area of the South China Sea.
Woodside (ASX:WPL) has struck a deal to sell a 49% interest in its proposed Pluto Train 2 liquefied natural gas (LNG) export project in Western Australia to fund manager Global Infrastructure Partners (GIP). Significantly, LNG from the project is claimed to be one of the lowest carbon intense sources of the fuel to be delivered into Asia, attracting GIP.
Petrofac (LON: PFC) has won a $96million contract with Petronas to build a new onshore gas plant in the Malaysian state of Sarawak.
Santos (ASX:STO) is partnering with Australia’s national science agency, CSIRO, to develop what is hoped could become the lowest cost direct air capture technology in the world.
Two days after scoring a surprisingly robust general election victory, Japanese Prime Minister Fumio Kishida promised up to $10 billion in additional climate finance for developing countries in a speech at COP26 in Glasgow.
Woodside (ASX:WPL), bp (LON:BP) and Japan Australia LNG (MIMI), which is owned equally by Mitsubishi and Mitsui, have agreed to form a consortium to progress feasibility studies for a large-scale, multi-user carbon capture and storage (CCS) project near Karratha in Western Australia.
After six months of resisting industry calls to add liquefied natural gas (LNG) to its green taxonomy, the South Korean government last week finally succumbed to gas lobbyists, says Institute for Energy Economics and Financial Analysis (IEEFA).
OPEC+ is heading for a politically consequential showdown with President Joe Biden, as Saudi Arabia and its allies meet today to choose whether to heed American demands for more oil.
The Malaysian government and state-backed Petronas have made commitments to cut greenhouse gas emissions. However, these goals become particularly challenging when many undeveloped fields with high levels of carbon dioxide (CO2) and hydrogen sulfide need to be tapped to backfill Malaysia’s LNG export complex in the coming years.
US engineering firm Bechtel expects at least $10 billion worth of business opportunities in Taiwan over the next decade as the island makes an aggressive push to cut back on coal and slash emissions, reported Nikkei Asia.
ExxonMobil (NYSE:XOM) and Pertamina will together evaluate large-scale carbon capture and storage (CCS) opportunities in Indonesia.
South Korea’s Posco International has officially been awarded a production-sharing contract (PSC) for Block PM524 in Peninsular Malaysia.
Santos and joint venture partner Beach Energy have given final investment approval to proceed with the $165 million (A$220 million) Moomba carbon capture and storage (CCS) project in South Australia with start-up expected in 2024. But critics say Australian tax payers will be footing the bill for the emissions reductions effort and not the fossil fuel companies.
Australia needs outside help and equipment as it starts a mega offshore decommissioning journey that is expected to cost more than A$50 billion (£27 billion). Significantly, companies with North Sea experience look set to play a pivotal role as the market evolves.
Australian company Timor Resources will drill three exploration wells onshore East Timor as the nation hopes for commercial success. The three wells will be drilled as part of a back-to-back campaign that started late October.
Russia’s Gazprom (MCX:GAZP) said its Marshal Vasilevskiy vessel passed through the Northern Sea Route (NSR) with a cargo of liquefied natural gas (LNG) for the first time ever. The Russian LNG cargo was delivered under long-term contract to Indian company GAIL.
Italy’s Eni (BIT:ENI) has shut down a well at its Merakes field in its East Sepinggan production-sharing contract (PSC) offshore East Kalimantan, Indonesia, due to subsurface problems. This has triggered a production loss of about 60 million cubic feet per day, according to Indonesian upstream regulator SKK Migas.
Qatar, the world’s top supplier of liquefied natural gas (LNG), will invest in Pakistan’s next import terminal in a bid to support one of the fastest growing buyers of the super-chilled fuel.
China said it’s sticking to existing climate change targets to zero out emissions, reducing the chances for more ambitious global action at the COP26 summit in Glasgow.
Australian company Timor Resources has spudded the first onshore well in East Timor in more than 50 years as the Southeast Asian nation, also known as Timor Leste, hopes for an oil bonanza.