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Asian Oil & Gas Activities

 

Offshore Wind Spending Hits Record High, Despite Covid-19

7 hours ago

The offshore wind industry had by far its busiest half-year ever for final investment decisions in 1H 2020, surpassing the full-year figures from 2019, according to the latest report from research company BloombergNEF (BNEF).Offshore wind financings in 1H 2020 totaled $35 billion, up 319% year-on-year and even well above 2019’s record full-year figure (a revised $31.9 billion). 'The first half of this year saw investment decisions made on 28 sea-based wind farms…

MOL Makes 13th Discovery in Pakistan

8 hours ago

Hungarian oil company MOL has made a gas and condensate discovery at its TAL Block in Pakistan, marking its 13th successful discovery in the country and the tenth at the same block.The company said Tuesday that the Mamikhel South-1 exploratory well had reached a total depth of 4…

OPEC Expects Record Rise in Oil Demand in 2021

9 hours ago

Global oil demand will soar by a record 7 million barrels per day (bpd) in 2021 as the global economy recovers from the coronavirus pandemic but will remain below 2019 levels, OPEC said in its monthly report.It was the first report in which OPEC assessed oil markets next year…

KPMG Flags Oil Trader ZenRock's Questionable Deals

12 hours ago

ZenRock Commodities Trading Pte Ltd is unlikely to continue its core oil trading businesses in the long term, its court-appointed supervisor KPMG Services said in a report that also raised concerns over transactions by the Singapore-based trader…

Woodside Expects $4.37B Loss after Asset Write-down

14 hours ago

Australia's Woodside Petroleum Ltd plans to book impairments of $4.37 billion after tax, joining global energy majors that have slashed the value of their assets after a coronavirus-induced slump in oil and gas prices.The bulk of the impairment - $3…

Ex-Unaoil Duo Convicted for Bribery in Iraq

Jul 13, 2020

Two former managers of Monaco-based energy consultancy Unaoil have been convicted in Britain of bribing Iraqi officials to clinch lucrative oil projects as the war-ravaged country tried to boost exports after the fall of Saddam Hussein in 2003…

Taiwan: MHI Vestas to Source Fasteners and Cables Locally

Jul 13, 2020

Offshore wind turbine maker MHI Vestas Offshore Wind is further boosting Taiwan's local offshore wind supply chain with the decision to source fasteners and cables locally.The company has previously announced contracts in Taiwan for local supply of blades…

Oil Search to Write Off Some PNG Exploration Assets

Jul 13, 2020

Oil Search Ltd said on Monday it plans to write off around $380 million, mostly on some exploration assets and a gas-to-power project in Papua New Guinea, due to the outlook for oil and gas prices and the shut down of a gold mine.The Papua New…

Noble Corp: New Rig Deals in UK, Extensions in Qatar and Suriname, Cancellation in Vietnam

Jul 10, 2020

Offshore drilling company Noble Corp. has secured contracts in the UK North Sea with CNOOC and Total, extensions for rigs in Qatar and Suriname, and a contract cancellation in Vietnam.In the UK, China's CNOOC has awarded a four-month contract for the Noble Sam Hartley jack-up rig…

China's MingYang Launches 11MW Offshore Wind Turbine

Jul 10, 2020

China's MingYang has this week launched the MySE11-203, dubbed the world's biggest hybrid drive wind turbine, of the nameplate capacity of 11 MW.Per MingYang, the turbine features a rotor diameter of 203 meters and has a 31% higher annual energy production than its predecessor…

IEA Bumps Up 2020 Oil Demand Forecast

Jul 10, 2020

The International Energy Agency (IEA) bumped up its 2020 oil demand forecast on Friday but warned that the spread of COVID-19 posed a risk to the outlook.The Paris-based IEA raised its forecast to 92.1 million barrels per day (bpd), up 400,000 bpd from its outlook last month…

GTT to Design Tanks for COSCO LNG Tanker Trio

Jul 10, 2020

French GTT has received an order from the Chinese shipyard Hudong-Zhonghua Shipbuilding for the tank design for three new LNG carriers. The carriers will be delivered to the Chinese ship-owner COSCO Shipping. Each vessel will offer a capacity of 174…

Australian Offshore Safety Regulator to Resume Physical Inspections

Jul 10, 2020

NOPSEMA, the Australian offshore oil and gas safety regulator, plans to resume physical inspections on offshore oil and gas facilities 'in line with appropriate protocols to manage health risks associated with COVID-19.''While NOPSEMA’s inspections have continued throughout the pandemic…

Eni Hires Polarcus for Asia Pacific Survey

Jul 10, 2020

Polarcus has won a contract with Eni for a survey in the Asia Pacific.The Oslo-listed marine seismic services provider said the contract was for an expected minimum duration of one month.'The project is scheduled to commence in Q1 2021, subject to relevant approvals…

Petrofac Nets $135M Contract with Kazakhstan's NCOC

Jul 09, 2020

UK-based engineering and construction services firm Petrofac has won secured an Engineering, Procurement, Construction, Pre-commissioning and Commissioning (EPCC) contract in Kazakhstan.The contract is  worth about US$135 million for new water…

Current News

Gazprom Aims to Increase Gas Supplies to China

Gazprom Aims to Increase Gas Supplies to China

Offshore Wind Spending Hits Record High, Despite Covid-19

Offshore Wind Spending Hits Record High, Despite Covid-19

MOL Makes 13th Discovery in Pakistan

MOL Makes 13th Discovery in Pakistan

OPEC Expects Record Rise in Oil Demand in 2021

OPEC Expects Record Rise in Oil Demand in 2021

First Taiwan-built Offshore Installation Vessel to Sport Wärtsilä Gear

First Taiwan-built Offshore Installation Vessel to Sport Wärtsilä Gear

KPMG Flags Oil Trader ZenRock's Questionable Deals

KPMG Flags Oil Trader ZenRock's Questionable Deals

Woodside Expects $4.37B Loss after Asset Write-down

Woodside Expects $4.37B Loss after Asset Write-down

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