Samsung Heavy wins major LNG carrier contract
The company said this was larger than its previous largest order, which was for 16 methanol-power containerships, worth 3.95trn won ($3bn).
Asia
Asia Oil and Gas news and updates
Castorone off Scarborough work for at least a month
Saipem’s initial assessment attributed the problem to a software anomaly. This appeared to have led to a tensioner failing.
Total strikes for OMV’s Malaysian unit in $900mn move
“This agreement streamlines our Energy portfolio and is in line with the OMV Strategy 2030 of reducing oil and gas production over time,” said OMV CEO Alfred Stern.
Conrad, Coro delay Mako FID as costs rise
The Australian listed company said it had made progress on the project during the last few months, with total costs now estimated to be $325 million. Costs to reach first production are $250mn. Previously, it had forecast total costs to be $303mn.
Saipem’s Castorone chalks up second accident in a month
The union went on to say Saipem's Castorone would have to return to Broome and probably be down manned.
Seatrium warns of “significantly higher” loss for year
The result is that Seatrium has warned it faces “financial loss that is significantly higher than the previous year”.
All Asia Posts
Petronas confirms executive arrested on corruption suspicions
Malaysia’s national energy company Petronas has confirmed that one of its junior level executives has been arrested by the Malaysian Anti-Corruption Commission (MACC) for suspected graft. The news underscores that the risk of corrupt practises remains high at Petronas.
Indonesia to sue Thailand’s PTTEP over oil spill
The Indonesian government is preparing to launch domestic legal action against Thailand’s PTT Exploration & Production (PTTEP) (BKK:PTTEP) relating to economic and environmental damages suffered by local people around Kupang following the 2009 Montara oil spill.
China signs another deal to buy US LNG
US-based NextDecade will supply China’s ENN with 1.5 million tonnes per year (mtpy) of liquefied natural gas (LNG) for 20 years, starting as early as 2026, from the proposed Rio Grande export project in Texas. Significantly, this is the fourth US-China LNG deal struck in the past two weeks.
Opportunities abound for energy M&A deals in Asia Pacific
Opportunities abound for mergers and acquisitions across energy-hungry Asia Pacific nations, as majors, such as Chevron, Shell, and ExxonMobil, seek to exit or rationalise their upstream portfolios.
Now is not the time to build new LNG import terminals in Asia, study warns
For price-sensitive liquefied natural gas (LNG) buyers in Asia, now is not the time to build new LNG import terminals, according to the latest study from the Institute for Energy Economics and Financial Analysis (IEEFA).
Asia’s $350 billion gas buildout intensifies clean energy debate
Asia is pumping billions of dollars into new gas infrastructure, making the region pivotal in a debate over the role of the fossil fuel as the world aims to curb emissions.
Petrofac secures second contract with Cairn Oil and Gas
Petrofac (LON:PFC) has been awarded a further operations and maintenance (O&M) contract with Cairn Oil & Gas, India’s largest private oil and gas exploration company.
China gas buyers seek cheap Russian fuel shunned by the world
China’s top liquefied natural gas (LNG) importers are cautiously looking to purchase additional Russian shipments that have been shunned by the market in a bid to take advantage of cheap prices.
About 650,000 barrels per day of Russian oil to be ‘swapped’ says Woodmac
About 650,000 barrels per day (b/d) of Russian crude oil are to be relocated from advanced economies, and the solution could be ‘crude swapping’, says Wood Mackenzie. Significantly, Russia’s key market China not shoring up large volumes yet.
Borr Drilling awarded contracts and extensions for five jack-ups
Borr Drilling has been awarded new contracts and extensions for five of its jack-up drilling rigs spanning Southeast Asia and the Middle East.
JERA opens Singapore company to renegotiate LNG deals
JERA, the world’s largest buyer of liquefied natural gas (LNG), has established a new subsidiary JERA LNG Portfolio Strategy in Singapore, which offers a strategic base to maximise the value of JERA’s LNG portfolio.
Petrofac wins decom contract for Australia’s Northern Endeavour
Petrofac has secured a contract from the Australian Government to carry out the first phase of decommissioning work on the Northern Endeavour.
TotalEnergies offshoot supplies solar batteries to Pertamina
Specialist solar batteries supplied by Saft, a subsidiary of TotalEnergies, are providing power continuity for Pertamina’s GG unmanned gas wellhead platform offshore Indonesia. The platform is operated by Pertamina Hulu Energi (PHE) ONWJ, Indonesia’s state-owned oil and gas company and produces around 40,000 barrels of oil per day.
Is Keppel O&M and Sembcorp Marine mega-yard merger stalling?
An agreement on the proposed merger between Singapore shipyard giants Keppel Offshore & Marine (Keppel O&M) and Sembcorp Marine should be struck by the end of April 2022. However, while significant progress has been made in advancing the deal that would create a mega-yard group, the pair said yesterday there “is no guarantee that definitive agreements will be executed.”
Two workers die after accident at Singapore’s Keppel shipyard
Two workers died this week in an accident at a shipyard run by Singapore’s Keppel Corporation (SGX:BN4). The Bangladeshi men, aged 30 and 42, were reported to have fallen from a vessel in dry dock at a Tuas shipyard and were pronounced dead at the scene by paramedics.
Uncertainty for South Korea LNG imports as nuclear energy embraced
Following presidential elections earlier this month, energy-short South Korea looks set to pivot back towards nuclear power, leaving the outlook for liquefied natural gas (LNG) imports less certain.
Cnooc plans share buybacks after record profit on pricey oil
Cnooc Ltd plans to implement share buybacks and guarantee dividends through 2024 after its profits soared to a record last year.
BP courts Chinese and Indian energy majors in bid to offload Russia assets
BP has reached out to state-backed firms in Asia and the Middle East as it searches for a way to offload its Russian assets.
Woodside to deliver more LNG cargoes after Pluto gas processing starts
The processing of gas from the offshore Pluto fields has started ahead of schedule at the North West Shelf Project’s (NWS) Karratha gas plant (KGP), Woodside reported today. This accelerated production of Pluto gas has been enabled by the start-up of the Pluto-KGP Interconnector.
Indonesia’s Pertamina eyes cheaper Russian oil
Indonesian state energy company Pertamina is considering buying crude from Russia as it seeks oil for a newly revamped refinery, chief executive officer Nicke Widyawati said earlier this week, reported Reuters.
India seeks to sell 1.5% stake in ONGC
India plans to sell as much as 1.5% stake in state-run Oil & Natural Gas Corp., via an offer for sale starting Wednesday, according to an exchange filing.
Strohm and Petronas join forces to commercialise TCP
Strohm, a leading manufacturer of fully bonded Thermoplastic Composite Pipe (TCP), has signed an agreement with Petronas’ technology arm, Petronas Technology Ventures, to commercialise TCP in the industry and scale its utilisation across the Malaysian state-backed energy company’s facilities.
Santos unveils new climate strategy
Santos (ASX:STO) today released its 2022 Climate Change Report which sets out the Australian company’s latest climate transition strategy and action plan to become a net-zero emissions energy and fuels business by 2040.
Repsol finishes 3D seismic sweep in Indonesia
Repsol finished its 3D seismic shoot in Indonesia’s South East Jambi block onshore Southern Sumatra in December 2021 and is currently evaluating the data.
Gazprom asks GAIL to pay for gas imports in euros
Gazprom has asked India's largest gas transmitter GAIL (India) to pay for gas imports in euros instead of dollars, two sources said, in a sign the Russian energy giant seeks to wean itself away from the US currency in the wake of the Ukraine conflict, reported Reuters.