ExxonMobil's global oil and gas reserves tumbled by a third last year as the COVID-19 pandemic slammed global oil prices and demand, the company said on Wednesday.The largest U.S. oil producer is reeling from the sharp decline in oil demand…
OPEC+ oil producers will discuss a modest easing of oil supply curbs from April given a recovery in prices, OPEC+ sources said, although some suggest holding steady for now given the risk of new setbacks in the battle against the pandemic.The…
Thai oil and gas company PTTEP has made a gas discovery at the Dokong-1 wildcat exploration well in Block SK417, located in the shallow waters of Baram Province, offshore Sarawak, Malaysia.PTTEP is the operator of the block with an 80 percent stake…
Malaysian oil company Petronas said Wednesday it had made an oil discovery at the Hidayah-1 exploration well, located within the North Madura II Production Sharing Contract (PSC), offshore East Java, Indonesia. Petronas' subsidiary PC North Madura II Ltd…
Floating offshore wind, despite the currently low installed capacity, could be the next frontier in wind power development in the Asia Pacific with almost limitless potential, says Wood Mackenzie, adding the total investment in the sector could be worth US$58 billion…
Malaysian FPSO specialist Bumi Armada has amended the maturity of a portion of the $660 loan from 2019, citing the impact of the coronavirus pandemic on its business.Bumi Armada said the loan agreement has been amended on to extend the final…
Belgian tanker operator Euronav said Tuesday it had entered into a sale and leaseback agreement for the very large crude carrier Newton with China's Taiping & Sinopec Financial Leasing Ltd Co. The VLCC was sold for $36 million.'The transaction produced a capital gain of about $2…
Italian offshore energy services contractor Saipem has received from Qatargas a letter of award for the development of the North Field Production Sustainability Offshore Project, located offshore of the North-East coast of Qatar peninsula. The contract is worth approximately $1…
Singapore's Pavilion Energy Trading & Supply Pte Ltd said on Monday it signed a six-year sale and purchase agreement with Chevron Corp for about 0.5 million tonnes per year of LNG supplies from 2023.Pavilion Energy, owned by Singapore state-owned investment company Temasek Holdings…
Chinese national oil company CNOOC said Sunday it had made a large oil and gas discovery Bozhong 13-2 in Bohai Bay.CNOOC said that the Bozhong 13-2 structure was located in the south-western Ring of Bozhong Sag in the Bohai Bay with an average water depth of about 23…
Italian energy group Eni on Friday raised its ambition to cut greenhouse gas emissions, vowing to become net carbon neutral by 2050, as it seeks to keep up pace in an industry under pressure from investors to go green.Like its peers, Eni is…
Credit: phi771/AdobeStockEmployment in the oil and gas sector, despite some expected uptick, will never return to its heydays of a few years ago, but offshore wind, however, will be 'the new hiring haven for energy jobs,' especially in the turbine making segment…
ConocoPhillips and Petronas Carigali have been awarded Block SB405, offshore Sabah, Malaysia, Petronas has informed.The offshore block is located in the North East Sabah basin, off the coast of Sandakan, with an area size of 5,857 square kilometers and in a water depth of up to 100 meters…
Norwegian offshore vessel owner Siem Offshore and Seaway 7, the renewables business unit of Subsea 7, have entered into a contract for an offshore wind project in the Far East. Siem Offshore said that the project will utilize the offshore construction vessel 'Siem Barracuda'…
Australia's Woodside Petroleum sees the military coup in Myanmar as 'a transitionary issue' that would not affect its drilling in waters off the Southeast Asian nation, its chief executive said.His comments came as Australia, India, Japan, and…
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