Natural gas is falling out of favor with emissions-wary investors and utilities at a quicker pace than coal did, catching some power generators unaware and potentially leaving them stuck with billions of dollars of assets they can’t sell.
Italy’s Eni has expanded its acreage position around a major gas discovery offshore Vietnam after acquiring a 100% interest in Block 115/09 from struggling Singapore company KrisEnergy.
Despite the political and social turmoil in Myanmar, South Korea’s Posco International is sending a second deep-water drilling rig to the troubled Southeast Asian state to continue development work at the Shwe gas field.
Malaysian national oil company (NOC) Petronas has declared force majeure on its Yetagun field off Myanmar, which is on the brink of civil war, due to the depletion of gas production.
India’s liquefied natural gas (LNG) demand will rise from 25 million tonnes per year (mtpy) in 2020 to almost 45 mtpa in 2030. And it will surge to 85 mtpa by 2040, as domestic production falls sharply, data from Rystad Energy shows.
Italy’s Eni and China’s Zhejiang Energy will work together to pursue gas and liquefied natural gas (LNG) opportunities as part of a strategic switch towards cleaner fuels.
Singapore’s Energy Market Authority (EMA) has awarded ExxonMobil and Sembcorp Fuels the right to import liquefied natural gas (LNG) as pipeline supplies dwindle.
The Philippines this week approved yet another proposed liquefied natural gas (LNG) import scheme as the country faces a looming gas supply crunch. However, the latest award, to AG&P, underscores the department of energy’s (DOE’s) lack of strategy for LNG imports in the power-hungry Southeast Asia nation.
Italy’s Eni has sold its Pakistan business to Prime International Oil & Gas Company as part of a plan to streamline its upstream portfolio to focus on strategic assets.
China’s first road map to achieving net zero emissions by 2060 may be too slow to stop the world’s biggest polluter from hastening global warming.
Philippine business tycoons are eager to buy Shell’s stake in the deep-water Malampaya project. However, any potential suitors for the 45% interest, valued at between $250 million and $300 million by analysts at Rystad Energy, will need to bring strong technical skills to eek more gas out of the aging field.
Indonesian national oil company (NOC) Pertamina has a planned capital expenditure totalling $92 billion for the term 2020-24. The NOC will be seeking external funding and partnerships to meet this goal.
The increasing geopolitical rivalry between the U.S. and China has more than a 50% chance of spilling over into some form of military confrontation in the year ahead. This could involve threats, posturing, or the actual use of force, as well as have serious implications for energy companies and markets.
Analysis from investment house Bernstein suggests that the Chinese oil majors - CNOOC, Sinopec and PetroChina - offer a potential 30% upside as they trade at a wide discount to historic prices and global peers.
Majors, such as BP, Total and Shell, as well as Asian national oil companies (NOCs), are stepping up their investments in India’s rapidly expanding gas and renewables markets.
The Ceylon Electricity Board (CEB) has launched an international tender process for a floating storage regasification unit (FSRU) as Sri Lanka aims to start importing liquefied natural gas (LNG).
Australia’s Woodside Energy is reducing its presence in Myanmar and expects to fully demobilise its offshore exploration drilling team over the coming weeks following reports of human rights violations in the Southeast Asian nation.
Bosses at Neptune Energy believe the private-equity backed firm can reach a key production milestone in the coming years while reining in spending.
Petronas MPM reckons there is at least 6 billion barrels of oil equivalent (boe) waiting to be discovered in Malaysia’s deep waters.
Thailand’s PTT Exploration & Production (PTTEP) reported it is having difficulty accessing the Chevron-operated Erawan gas field to install production facilities as planned, ahead of a handover next year.
Analysts at IHS Market report that Repsol’s highly anticipated Rencong-1X wildcat in the frontier deep waters of Indonesia’s North Sumatra basin is targeting prospective gas resources of 4 trillion cubic feet (cf).
Thai national oil company PTT Exploration & Production (PTTEP) has hit sweet gas with its first exploration well, the shallow-water Dokong-1, in Block SK417, off the Malaysian state of Sarawak.
Law makers in the Philippines are seeking to refocus the Philippine National Oil Company’s (PNOC’s) investment mandate towards exploration and production ventures. The move is part of an effort to revive the Southeast Asian nation’s ailing upstream sector and attract new investment as its energy security situation continues to deteriorate.
Qatar Petroleum will supply 1.25 million tonnes per year (t/y) of liquefied natural gas (LNG) to Bangladesh after signing a deal with global trader Vitol.
Human rights groups and industry executives have slammed Woodside Energy’s rationale to proceed with a major gas development and exploration campaign in Myanmar following a military coup and subsequent bloody protests.