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Asia

Asia

Oil Search rejects $16bn merger approach from Santos

Australia’s Santos said today that it approached compatriot Oil Search about a potential merger last month. However, the offer to create an energy company with a market value of $16.1 billion was rejected by Oil Search, which has major stakes in Papua New Guinea’s (PNG’s) emerging liquefied natural gas (LNG) sector.

Asia

Oil Search seeks new boss after shock resignation

Oil Search managing director Keiran Wulff has suddenly resigned from the Australian-listed company following complaints about his behaviour and ill health. This leaves the Papua New Guinea-focused oil and gas producer in an uncertain position as it seeks new leadership.

Oil & Gas

Singapore prepares to swap its oil hub status for greener future

Royal Dutch Shell announced late last year it would slash capacity by half at its biggest oil refinery. For Singapore, where the plant has been a mainstay of the economy for six decades, it marked a turning point in one of the most successful bets on fossil fuels in history.

Asia

Qatar signs 15-year LNG supply pact with Taiwan

Qatar Petroleum will supply 1.25 million tonnes per year of liquefied natural gas (LNG) to Taiwan’s CPC Corporation for 15 years. Qatar Petroleum said yesterday that LNG deliveries will start in January 2022. Since the first LNG delivery in March 2006, CPC has received more than 63 million tonnes of LNG from Qatar.

Asia

India’s ONGC eyes $4bn spending plan

India’s state-backed Oil & Natural Gas Corporation (ONGC) said that it plans to spend 300 billion Indian rupees ($4.03 billion) during its current financial year to boost oil and gas output. ONGC’s profits have also bounced back.