Offshore exploration and production (E&P) capital expenditures (capex) will shake off the pandemic-induced declines of the past two years and rebound by 20% in 2022, reaching a total $165 billion spent on exploration, wells, and facilities (Figure 1)…
Output from Vietnam's largest oil refinery is expected to fall by 20%-25% during the first 10 days of January as its residual fluid catalytic cracking (RFCC) unit has been shut down due to a technical problem, the government said on Thursday…
China and the Philippines have agreed to set up a direct communications channel between their foreign ministries on the South China Sea to handle disputes peacefully, they said on Thursday.Their agreement, which contained 14 elements aimed at…
The Abu Dhabi National Oil Company (ADNOC) said Thursday it had allocated $15 billion (AED55 billion) to advance an array of decarbonization projects across its diversified value chain by 2030. These projects will include investments in clean power…
Singapore's Keppel Offshore & Marine (Keppel O&M) said Thursday it had won a contract worth around S$130 million (~$97 million) to build an offshore wind substation. The company did not say who the client was, apart from describing it as 'an international renewable energy company…
India has approved an incentive plan of 174.9 billion rupees ($2.11 billion) to promote green hydrogen in a bid to cut emissions and become a major exporter in the field, the information minister said on Wednesday.The move is targeted to help India…
China is ready to resume oil and gas talks and manage maritime issues 'cordially' with the Philippines, China President Xi Jinping said on Wednesday, according to Chinese state television.Xi was speaking to his Philippines counterpart Ferdinand Marcos Jr…
Petra Energy Berhad has secured a contract extension with Petronas for production, operation, and maintenance services at the Banang offshore oil field. The agreement runs until August 6, 2024. Its scope under the extension includes the provision of production…
Sagar Samrat, the iconic offshore drilling rig that helped discover India's biggest offshore oil field - the Mumbai High - in 1974, has started its new life, now as an offshore production unit.India's national oil company ONGC said Monday that…
India's national oil company ONGC has appointed Sushma Rawat as Director of Exploration. She prevciously served as Executive Director-Basin Manager, Assam & Assam Arakan.She takes over the reins as Director of Exploration from Rajesh Kumar Srivastava…
TGS on Tuesday announced a new regional multi-client 2D seismic program offshore Bangladesh in partnership with SLB and Petrobangla.The program's initial phase will comprise around 11,000 line kilometers of newly acquired high-resolution broadband…
Indonesia has approved the first plan of development for the Tuna offshore gas field with total estimated investment of $3.07 billion up to the start of production, upstream oil and gas regulator SKK Migas said on Monday.The Tuna field, located in the South China Sea between Indonesia and Vietnam…
Oil rose on Friday and was on track for a second straight annual gain in a volatile year marked by tight supplies because of the Ukraine war and weakening demand from the world's top crude importer, China. Crude surged in March with global benchmark Brent reaching $139…
Japan, the world's top liquefied natural gas (LNG) importer, is facing its latest challenge in securing vital gas supplies from Russia after Western reinsurers said they would halt marine war insurance for ships travelling in Russian waters from Jan…
Japan has resumed public auctions for offshore wind power projects under revised rules aimed at encouraging a wider range of operators and accelerating the development of infrastructure, the industry and land ministries said on Wednesday. The…
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