Malaysia’s state-owned energy company Petronas is planning to build a third multi-billion dollar floating liquefied natural gas (FLNG) unit to help solve challenges commercialising gas offshore Sabah in Malaysia as part of an effort to appease ConocoPhillips (NYSE:COP) and Shell (AMS:RDSA) following losses related to an upstream development.
China’s announcement at the United Nations General Assembly that it will no longer build any new coal-fired power plants abroad accelerates the energy transition in Asia’s emerging markets but also raises challenges, according to a new analysis by the IHS Markit Global Power and Renewables service.
The US administration has set out plans to cut financing for hydrocarbon developments, while African states are doing what they can to secure energy projects.
Renewables now make up 37% of all power generation projects under construction in Asia, representing a 4% increase in share from the previous quarter, according to the latest IHS Markit Renewable Additions Index (RAI) for Asia Pacific. Although coal power projects remain strong despite climate pressure.
Egypt and Israel are working on plans to expand the East Mediterranean Gas Forum (EMGF) into energy security, electricity infrastructure and emissions controls.
Australia, Japan and Vietnam are leading the shift to renewable energy in Asia Pacific, according to the latest research from IHS Markit. Significantly, coal and gas power plants are also being built at a brisk pace as part of the energy mix across the region.
IHS Markit expects companies to drill 38 high impact wells this year.
Mozambique and Tanzania have held high-level talks on a number of issues, including terrorism in Cabo Delgado, as Total pushes for more security.
S&P Global Inc. has agreed to buy IHS Markit Ltd. for about $39 billion in stock, a deal that accelerates the wave of consolidation among the finance industry’s biggest data providers.
The rush for renewable energy investments by oil companies is driving up values and risks “overheating” the sector, a report from IHS Markit has warned.
The Petronas-operated Bintulu LNG export complex, in the eastern Malaysian state of Sarawak, desperately needs new gas supplies to maintain its exports in the near-to-medium term, as legacy fields mature.
Somalia is preparing for a bid round covering seven blocks in its offshore with the official opening due on August 4.
Nigeria is moving towards production cuts as a result of a lack of local storage and inability to sell cargoes.
The real oil market is killing Nigeria.
Oil is entering a period of unparalleled demand destruction this month that promises to transform the industry for years to come.
Weak demand will drive production shut ins this quarter, IHS Markit’s vice president Aaron Brady told Energy Voice, as storage options are limited.
As oil crashes due to the impact of the coronavirus, it’s easy to overlook an even more dismal reality for producers: the real prices they’re getting for their barrels are worse still.
There could be 10 million barrels per day more of supply than demand in March and April this year, according to IHS Markit.
The last time crude prices crashed in 2014, the North Sea looked like a treasure trove for private equity looking to buy cheap assets, build them up and sell for a profit. Now, just as these firms are seeking an exit, the oil-price war might leave them trapped
The reduction in Chinese oil demand as a result of the coronavirus has taken its toll on African exports.
Conventional oil and gas discoveries during the past three years are at the lowest levels in seven decades, and aren't expected to recover, a new report said.
The escalating trade dispute between the U.S. and China could hinder a global boom in petrochemicals production largely centered on cheap natural gas liquids from American shale fields, according to an analysis by IHS Markit.