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China Opens Up to Foreign E&P Firms

Jan 09, 2020

For the first time, China will this year allow foreign companies to explore for and produce oil and gas in the country, opening up the industry to firms other than state-run energy giants, as Beijing looks to boost domestic energy supplies.The long-awaited opening accompanies a reshuffle of the so-called 'midstream' pipeline business, but experts say it may not excite immediate interest from global drillers because of the poor overall asset quality of China's hydrocarbon resources…

China Can't Meet Its US Energy Commitments

Jan 21, 2020

The more you delve into the details of China's commitment to buy an additional $52.4 billion in U.S. energy over the next two years, the more it becomes apparent the goal is unachievable, even with the best will in the world.As part of the 'Phase 1' trade truce between Beijing and Washington…

GC Rieber Crew Boats Stay in Russian Far East

Jan 17, 2020

Norwegian offshore vessel owner GC Rieber Shipping has clinched two crew-boat contract extensions in the Russian Far East.Through its JV with Russian company Prisco, GC Rieber signed a new 1+1 year charter agreements with Sakhalin Energy Investment…

Indonesia Plans New Gas Pricing for Industrial Users

Jan 09, 2020

Indonesia plans to unveil a new gas pricing policy for industrial customers in March in a bid to lower energy costs for manufacturers, Energy and Mineral Resources Minister Arifin Tasrif said on Thursday.Indonesia's President Joko Widodo earlier…

Sapura Esperanza Extended in Malaysia

Jan 03, 2020

Oil and gas services firm Sapura Energy said it has been awarded a contract extension by Sarawak Shell Berhad / Sabah Shell Petroleum Company Limited, for the provision of a semi-submersible tender assist drilling rig, Sapura Esperanza.The contract…

Puma Energy Sells Fuels Business to Chevron Australia

Dec 30, 2019

Singapore's Puma Energy, the retail and midstream arm of global commodities trader Trafigura, said on Thursday it would sell its Australian commercial and retail fuels business to Chevron Australia for A$425 million ($288 million).Puma Energy is 49%-owned by Geneva-based Trafigura…

Planned $2 Bln LNG Project Shelved in the Philippines

Dec 18, 2019

Plans for the $2 billion Tanglawan LNG hub venture in the Philippines have been put on hold by backers CNOOC Gas and Power of China and Phoenix Petroleum Philippines Inc.The facility was supposed to have a capacity of 2.2 million tonnes per year…

Malaysian State Open to Buying Petronas Stake

Dec 11, 2019

Malaysia's Terengganu state said on Wednesday it was open to buying a stake in national energy giant Petronas, after Prime Minister Mahathir Mohamad said he was considering such a sale to raise funds for his heavily-indebted federal government…

FTR Continues Year-on-year Growth

Dec 09, 2019

Fulkrum Technical Resources (FTR), global provider of technical personnel specializing in QA/QC, inspection and vendor surveillance services to the energy industry, announced recent contract wins resulting in year-on-year growth of more than 55%…

Russia Expecting Oil Output Bump

Dec 06, 2019

Russia still expects an increase in 2019 oil output to a record 556-560 million tonnes from 555.8 million tonnes produced in 2018, Energy Minister Alexander Novak told the ministry's magazine, in comments published on Thursday.That would mean production would reach between 11…

China to Launch State Pipeline Group

Dec 06, 2019

China plans to launch its long-awaited national oil and gas pipeline company on Monday, part of a sector-wide reform aimed at providing fair market access to infrastructure and boost investment in oil and gas production.Most of the country's…

Neptune Buys East Sepinggan Stake

Dec 05, 2019

Neptune Energy has acquired from Eni a 20% participating interest in the in the East Sepinggan area offshore Indonesia.Eni, with 65% interest, will continue to be the operator of the area which is located in the East Sepinggan area, offshore East Kalimantan in Indonesia…

Asian Refiners Strive to Finish IMO Preparations

Dec 02, 2019

At SK Energy's largest refinery in South Korea, engineers are rushing to complete a new processing unit ahead of schedule as the firm looks to boost sales of low-emission fuels before new marine fuel standards take effect in just one month.In Japan…

Former China Energy Chief Jailed for Life

Dec 02, 2019

Former head of China's National Energy Administration Nur Bekri has been sentenced to life in prison for accepting bribes, China's Supreme People's Court said on Monday.The court said in a statement published on Chinese social media platform Weibo that Bekri confessed his crimes while on trial…

Indonesia Mulls Production Contract Schemes

Dec 02, 2019

Indonesia considers allowing for production sharing oil and gas contracts optionsIndonesia is considering letting energy companies stick with the 'cost recovery' system for oil and gas production sharing contracts, the energy minister said on Monday…

Current News

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New Contracts for DOF in Australia

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Record Production for Santos

Shearwater Clinches 3D Survey Work Offshore India

Shearwater Clinches 3D Survey Work Offshore India

CNPC Finds Reserves From Pre-salt Field at Tarim

Caspian Sunrise Buying Offshore Exploration Vessel

Caspian Sunrise Buying Offshore Exploration Vessel

China Can't Meet Its US Energy Commitments

China Can't Meet Its US Energy Commitments

Asia LNG Spot Prices Drop to Multi-year Low

Asia LNG Spot Prices Drop to Multi-year Low

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