Unemployed oil tankers about to get scrapped on beaches in Asia

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 Sea

North Sea oil gets a jolt from Asian demand

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.


Asian NOCs set to maintain domestic upstream spend

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.


Energy disputes in Asia: A New Wave?

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.