China's Sinopec is offering its subsidiary refineries big incentives to export their diesel fuel, sources said, in a rare move that reflects the top Asian refiner's deepening concerns about a growing domestic glut.
India's reliance on foreign oil will jump from 80 percent to 90 percent by 2040 and it would lead global energy demand growth, the International Energy Agency said in a report on the world's third largest energy consumer released in New Delhi on Friday.
Saudi Aramco is looking for further investment opportunities in Indonesia's downstream refining and petrochemicals industry, the company's chief executive said today, after initiating a $5.5 billion project to upgrade the country's largest refinery.
Lundin has plugged and abandoned its Selada-1 exploration well in Malaysia after it proved to be dry.
Indepedent producer Kris Energy has received Singapore government approval to produce from the Rossukon oil discovery in the Gulf of Thailand.
Ophir Energy said it encountered oil after completing operations on a wildcat exploration well in the Gulf of Thailand, but it was below the threshold for economic viability.
Australian explorer Oilex has completed its latest workover of the Cambay-20 well in India according to plan.
BP has suspended operations at Chirag, one of its platforms in the Caspian Sea, for planned maintenance, the British oil company said today.
Australian explorer Oilex has completed the first well in its workover programme at the Cambay field in India and has begun work on the second well in the programme.
Roxi Petroleum, the Kazakhstan-focused independent, has spudded a new deep well at its flagship BNG asset in the Asian country.
BP has signed a multibillion dollar deal to supply liquefied natural gas to China Huadian Corporation over two decades.
Engineering services firm Penspen has been awarded a contract worth $4.3million from Gas Transmission Company Limited (GTCL), under the Ministry of Power, Energy and Mineral Resources of Bangladesh.
Australian independent Oilex has commenced a work-over campaign at its Cambay project in India.
Indonesia has been told by OPEC that it plans to accept the country's request to reactivate its membership at its next meeting in December.
As China closes in on the United States as the world's biggest crude oil importer, demand from private refiners and stockpiling of cheap oil is expected to keep imports at record levels after a wobble in the third quarter.
Primeline Energy has agreed with China National Offshore Oil Corp to extend the exploration period under the Petroleum Contract for Block 33/07 to facilitate Primeline's exploration drilling programme.
Austria's OMV has made a new gas discovery in the Latif South-1 exploration well in Pakistan.
Supertankers hauling crude to China are contending with increased waiting times to unload as some on-land storage depots reach capacity amid an oil-buying binge by the world’s most populous nation.
Two senior Chinese officials - one who led the country’s biggest oil company and the other a deputy party chief in populous Sichuan province - have been convicted of corruption and sentenced to 16 and 13 years in prison respectively.
Tethys Petroleum has called on investment group Olisol to publically correct what it calls inaccurate statements over its licence in Tajikistan.
China has nearly tripled the size of proven reserves at its Fuling project, by far the country's largest shale gas find, according to an official from investor Sinopec Corp and an industry report.
Offshore marine and engineering consultancy Aqualis Offshore has opened an office in Kuala Lumpur, Malaysia, as part of ongoing international expansion.
Asian unconventionals specialist Greka Drilling Limited has appointed Sean Mulhearn and Richard Day as non-executive directors.
Tethys Petroleum said it had acknowledged an offer by Olisol Investment Group earlier this month. The bid comes as the company continues ongoing negotiations with Nostrum Oil & Gas on the terms of a proposed offer. Earlier this month, Olisol had come forward to offer the company $8million by way of share subscriptions at $0.16 per common share.
Gazprom’s Alexander Medvedev, will seek to promote the competitive value of Russian gas to the key emerging energy markets of south east Asia, when he speaks at the Gastech conference in Singapore later this month.