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.
BP’s latest review of energy use has been presented as positive developments in carbon reduction. However, the facts remain that fossil fuels continue to provide most of the world’s energy needs and that developing Asia is driving demand.
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.
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.
UK listed Jadestone Energy has satisfied all the conditions necessary, including the approval of Petronas, to complete its acquisition of SapuraOMV’s Peninsular Malaysia assets in a deal worth up to $15 million that will increase the company’s total reserves by more than 30%.
Hibiscus Petroleum has moved a step closer to completing its acquisition of Repsol’s upstream assets in Malaysia and Vietnam after the Spanish company’s project partners waived their pre-emption rights.
China overtook Japan as Australia’s top LNG export destination in the financial year ending June 2021 with 29.8 million tonnes (39%) of Australian export volume, slightly more than 29.4 million tonnes (37%) recorded over the same period a year before, reported EnergyQuest.
Shell claims to have signed the world’s first carbon-neutral term liquefied natural gas (LNG) supply deal after sealing a five-year contract with PetroChina.
Global Power Synergy, the listed power unit of Thailand’s national energy company PTT Group, has acquired a 41.6% stake in Indian renewable energy provider Avaada Energy for about 14.8 billion baht ($453 million).
Australia’s Woodside said today that it has launched the sell-down processes for Pluto Train 2 and Scarborough ahead of a planned final investment decision (FID) for the LNG export development that is expected to cost more than $11 billion.
Australian Transborders Energy said yesterday that its floating liquefied natural gas (FLNG) solution development has secured the major project status (MPS) renewal from the Australian government.
Malaysia’s Petronas, which has yet to make a firm carbon-neutral pledge, will deploy solar energy at the group's assets across Malaysia to boost efficiency and cut carbon emissions as part of its sustainability agenda and “aspiration” of Net Zero Carbon Emissions by 2050 (NZCE 2050).
A United Nations (UN) human rights investigator has urged countries to impose economic sanctions on Myanmar’s oil and gas sector to cripple the military junta that seized power in a coup five months ago, reported Reuters.
Santos is seeking buyers for a share in its $2 billion Dorado oil project offshore Western Australia and energy consultancy Rystad Energy expects BHP will be looking closely at the asset.
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.
Despite China harassing Malaysia’s offshore gas developments last month, Malaysian national oil company (NOC) Petronas and state-backed China National Offshore Oil Corporation (CNOOC) yesterday signed a liquefied natural gas (LNG) supply deal estimated to be worth $7 billion over ten years.
China has been contesting new Malaysian oil and gas development at the Kasawari field offshore Malaysia since early June with China Coast Guard (CCG) vessels harassing the project. The harassment also coincided with Chinese military planes entering Malaysia’s national airspace.
Australia is seeking expressions of interest for the Northern Endeavour FPSO decommissioning project. Significantly, this could provide North Sea players the perfect opportunity to get a foothold in the rapidly expanding Australian decommissioning market.
Thailand’s PTT Exploration & Production (PTTEP) said it will need between one and two years to hit its contractual production target at the Erawan field offshore Thailand once it takes over from current operator Chevron.
Shell has supplied Osaka Gas with its first shipment of carbon neutral liquefied natural gas (LNG) as the Japanese company strives to meet its 2050 net-zero goal.
Jadestone Energy is pressing ahead with its Akatara onshore gas field development in Indonesia after receiving government approval.
Bechtel will provide front-end engineering and design (FEED) services for Delta Energy Offshore’s proposed LNG-to-power project in southern Vietnam.
China’s Sinopec has started building the country’s first large-scale carbon capture utilisation and storage (CCUS) project as part of its target to be carbon-neutral by 2050.
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.
Aberdeen-headquartered EnerMech has appointed its first Asia director to support its increasing operations in the region.