Covid-19 is destroying the market for tankers that deliver about a fifth of the world’s crude oil. The result is likely to be booming trade on the beaches of Bangladesh, India and Pakistan, where obsolete ships go to get blow-torched and sold for scrap.
North Asia’s liquefied natural gas benchmark rose above $30 per million British Thermal units for the first time, breaking a barrier that few thought possible.
Borr Drilling said in its new fleet status report that it had added $35.1 million over 480 days to its total backlog.
Liquefied natural gas has made a dramatic rebound from a pandemic-induced demand collapse, and the rally in the heating and power-plant fuel could extend into next year.
Japan will aim to more than quadruple offshore wind generation capacity in the decade to 2040 under plans to meet its mid-century emissions reduction target.
North Sea oil prices are finally strengthening, catching up with other markets that already rallied on the back of rising buying interest from Asia, where demand in many places has already recovered from Covid-19.
After reporting a $5 billion loss, Malaysian national oil company (NOC) Petronas is eager to see new money flow into its domestic upstream sector, especially as the majors, such as ExxonMobil, seek to exit the Southeast Asian nation.
Equinor has teamed up with two of Japan’s leading energy firms as it looks to make inroads into the East Asian country’s expanding renewables sector.
Oil fell as economic signals out of Europe and Asia flashed warning signs about the rebound in crude consumption.
A joint venture between UK-headquarterd energy services firm Petrofac and Azerbaijan’s state oil company has secured a £77 million contract with BP Azerbaijan.
One of the world’s biggest producers of polysilicon -- a key ingredient for solar power systems -- shut a major plant in China after it suffered a series of explosions, according to a person familiar with the incident.
Saudi Aramco’s experience may offer a cautionary tale to other investors considering multi-billion-dollar refining partnerships with Indonesian NOC Pertamina
Cashed-up Asian NOCs are actively screening international assets and companies for once-in-a lifetime acquisition opportunities amidst the global downturn.
Lower long-term LNG prices could encourage coal-to-gas switching in Northeast Asia, while Chinese LNG demand is also expected to expand this year, albeit at a slower rate, as China gets back to work.
While most international oil companies (IOCs) have stated they will make major spending cuts this year in response to the downturn, Asian national oil companies (NOCs) are expected to maintain domestic upstream spending to help employment and economic activity levels.
Southeast Asia and Australia are set to take centre stage in the region’s upstream M&A activity as private equity companies sense a value opportunity.
Swiss technology firm ABB is supporting the Chinese government in its efforts to produce emissions-free electricity.
Getting old is expensive if you’re an oil well.
Asian buyers of liquefied petroleum gas are already paying for disruptions half a world away in Texas as record rainfall halted shipments of propane and butane from ports that handle more than 90% of US exports to the region.
US shale was the hot ticket for Asian investors before the downturn but deals have dried up since 2014, according to analysts Wood Mackenzie.
Interpol has issued red notices, the closest to an international arrest warrant, for three Chinese executives suspected of fraud, according to Indonesian police.
Asia’s oil refineries are turning to the North Sea for crude supplies like never before as their primary suppliers restrict output in an effort to eliminate a glut.
BP is shipping nearly 3 million barrels of US crude worth around $150million to Asia via one of the world’s longest sea routes, a news report said.
Singapore, which is vying to become a regional center for the trading of liquefied natural gas in Asia, picked Royal Dutch Shell Plc and Pavilion Gas Pte Ltd. as its next suppliers of the fuel.
Oil prices continue to be depressed and trading conditions for oil and gas companies remain difficult. In such circumstances, commentators are predicting a new wave of disputes in the oil and gas sector, with new types of dispute (for example, claims brought by liquidators following the insolvency of a counterparty) prevailing. However, market conditions vary across the world, and it would be unwise to assume that conditions in a mature market such as Europe are the same, and/or will have the same consequences, in Asia and South East Asia region. In this article, Richard Power considers whether the Asia/South East Asia region stands on the verge of a new wave of energy disputes, or whether the region's peculiar - perhaps unique - economic circumstances could isolate it from the travails affecting the energy sector elsewhere in the world.