Global crude oil prices could drop to about $60 per barrel by 2027 as demand growth slows, say oil analysts at Rystad Energy, chopping a third off next year's peak price as demand tumbles.Their outlook is a reassuring message amid recent Wall…
Singapore-based PaxOcean has recently delivered an offshore wind turbine installation vessel, CP-16001, to Penta–Ocean Construction Co. Ltd. (Penta-Ocean) in Batam, Indonesia.The offshore installation vessel is 123 meters long, 45 meters wide…
Indonesia may seek a new partner for state-run Pertamina's refinery project in Tuban, East Java, due to uncertainty over its partnership with Russia's Rosneft, the chief economic minister has said. The uncertainty was over geopolitical-related…
Workers at Chevron's two liquefied natural gas (LNG) facilities in Western Australia voted to restart strikes on Friday, endorsing a similar move by colleagues at a meeting less than 24 hours earlier.Night-shift workers at Chevron's Gorgon and…
Sapura Energy said Monday that Brunei Shell Petroleum had issued notices of arbitration to its subsidiaries Sapura Fabrication and Sapura Offshore.Brunei Shell Petroleum is seeking arbitration against Sapura Fabrication in relation to the Salman development…
Seaborne diesel and gasoil exports from Russian ports fell 27% in September from a month earlier to about 2.76 million tonnes due to a major overhaul of refineries and a fuel export ban, data from traders and LSEG showed.Idle primary oil refining capacity for September stood at 4…
Singapore-based Dyna-Mac has secured several contracts, including an order to construct topside modules for an FPSO vessel.Dyna-Mac said that it had recently secured contracts worth a total provisional sum of S$88.0 million from unnamed repeat customers…
Thai oil and gas giant PTT Exploration and Production (PTTEP) may extend its contracts for two gas fields in neighboring Myanmar when one ends in 2028 and the other in about 20 years, its chief executive said on Monday.PTTEP also bid for two…
Northland Power Inc. said Thursday that its Hai Long offshore wind project in Taiwan had met all conditions to close its 1171 billion New Taiwan Dollars long-term non-recourse green financing. This is the equivalent of around CAD 5 billion, or $3…
One of the dirtiest and most import-dependent power sectors in Asia is on a clean-up drive. Taiwan currently imports roughly 98% of its energy sources and gets more than 80% of its electricity from fossil fuels, including around 43% from coal and 39% from natural gas…
Pakistan National Refinery Limited (NRL) has started producing very low sulphur fuel oil (VLSFO) for ships and is planning to expand its monthly output by at least five-fold in six months, the company said late Tuesday.The company is producing about 2…
Qatari oil and gas company QatarEnergy has ordered 17 'ultra-modern' LNG carriers from South Korea's HD Hyundai Heavy Industries (HHI).The deal, signed at a ceremony in Seoul, is valued at 14.2 billion Qatari Riyals (currently around $3,9 billion)…
Bumi Armada Berhad, a Malaysian company known for its FPSO leasing business, said Monday it had, via its subsidiary Armada Akia B.V (“AABV”) and its co-bidder, Pexco Tarakan NV, signed a Production Sharing Contract with the Ministry of Energy…
The cost of chartering a supertanker to load Middle Eastern crude oil for Asia has rebounded from a 19-month low in September, but industry sources expect output supply cuts, led by Saudi Arabia, to cap freight rates for the rest of the year…
China-based offshore drilling contractor China Oilfield Services Limited (COSL) said this week it had agreed to buy four jack-up drilling rigs from Dalian Shipbuilding Offshore.COSL's subsidiaries have agreed to buy four JU2000E jack-up drilling rigs at a total contract price of RMB3…
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