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Asian Oil News - page 5

 

Oil Retreats in Face of Renewed Coronavirus Uncertainty

Feb 21, 2020

Oil prices fell on Friday as weak Asian data and a rise in new coronavirus cases fuelled uncertainty about the economic outlook while leading crude producers appeared to be in no rush to curb output.Brent crude was down $1.56, or 2.6%, at $57…

Nayara Energy Director Resigns After U.S. Sanctions Imposed

Feb 21, 2020

Didier Casimiro, placed on a sanctions list by the United States earlier this week, on Friday resigned from the board of Indian refiner Nayara Energy, part-owned by Russian oil major Rosneft, company filings with the Indian government show.The United States on Tuesday blacklisted Rosneft Trading S…

Tanjung Offshore to Deliver Offshore Platform for Petronas

Feb 21, 2020

Malaysian oil company Petronas Carigali has contracted Tanjung Offshore Services for the delivery of a mobile offshore production unit.Tanjung Offshore Services has won a contract with a consortium Partner VME Process Systems Malaysia. The contract is for the provision of leasing…

Coronavirus Spurs Oil Majors to Cancel IP Week Events

Feb 19, 2020

The list of parties at London's International Petroleum Week, one of the world's biggest oil industry gatherings, continues to shrink as hosts such as ExxonMobil and Azerbaijan's SOCAR cancel events due to the coronavirus, trading sources said…

Malaysia's Kimanis Crude Exports to Halve in April

Feb 19, 2020

New repair works scheduled by Royal Dutch Shell in its oilfields in Malaysia are likely to halve exports of Kimanis crude cargoes in April and squeeze supplies in Asia, two sources said on Wednesday.Kimanis is Malaysia's largest export grade…

Pertamina, Petronas Swapping Crude Oil

Feb 18, 2020

Indonesia's state-owned oil and gas company PT Pertamina signed a framework agreement with Malaysia's Petronas to sell and buy crude this year, Pertamina said in a statement on Tuesday.The agreement is a follow up to their plan last year to swap crude…

Coronavirus Leaves China-bound Tankers Stranded

Feb 14, 2020

The coronavirus's effect on energy markets is worsening, as the sharp fall in demand in China, the world's largest importer of crude, is stranding oil cargoes off the country's coast and prompting shippers to seek out other Asian destinations…

Oil Jumps on Drop in New China Coronavirus Cases

Feb 12, 2020

Oil prices extended gains on Wednesday as China reported its lowest daily number of new coronavirus cases since late January, stoking investor hopes that fuel demand in the world's second-largest oil consumer may begin to recover from the epidemic…

Rystad Slashes Oil Demand Forecast on Coronavirus Impact

Feb 11, 2020

Oslo-based energy market intelligence firm Rystad Energy has slashed its global oil demand forecast for 2020 by a quarter, citing the impact of the novel coronavirus.Rystad has pointed to the fact that the coronavirus epidemic in China has triggered…

Oil Slides Lower on China Demand, OPEC+ Cuts Worries

Feb 10, 2020

Oil prices slipped lower on Monday as traders assessed China's oil demand following the coronavirus outbreak and waited to see if major producers will cut output further to balance markets. Oil is off more than 20% from peaks struck in January…

Eni Charters KNOT Shuttle Tanker Pair

Feb 10, 2020

Italian oil firm Eni has signed an agreement with tanker operator Knutsen NYK Offshore Tankers (KNOT) to charter two newbuild shuttle tankers.Shuttle tankers are used to offload oil from offshore platformsSouth Korea's Daewoo Shipbuilding & Marine Engineering will build the two 124…

Coronavirus Paralyzes Oil, Gas Sales into China

Feb 05, 2020

Short-term sales of crude oil and liquefied natural gas into China almost ground to a halt this week as the coronavirus slows economic activity and cuts demand and buyers ponder legal action to avoid having to honor purchase agreements, trade sources said…

China’s Oil Demand Dip is First Since 2009

Feb 04, 2020

The near-term impact of the coronavirus outbreak on oil demand remains uncertain as much depends upon when and how China’s manufacturing industry restarts after the currently extended Lunar New Year public holiday.Wood Mackenzie has lowered…

Bumi Armada Loses Woodside FPSO Case

Jan 24, 2020

Malaysian FPSO specialist Bumi Armada's claim against Australia's oil firm Woodside for a 2016 FPSO contract termination has been dismissed in court.Woodside in 2016 terminated the contract for the Armada Claire FPSO unit that was operating at the Balnaves Field…

What Does US-China Trade Deal Mean for Oil Markets?

Jan 20, 2020

After over a year of trade tensions, the US and China signed a “phase one” trade deal on 16 January. As part of the deal, China has agreed to increase the value of energy imports by $52.4 billion above 2017 levels over the next two years. What could it mean for the oil market…

Current News

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KrisEnergy Charters Jack-Up Rig for Apsara Drilling. Platform to Sail Away Soon

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Malaysia's KNM to Deliver Equipment for SBM Offshore FPSO

Fugro Charters CSV Southern Ocean for Work in Australia

Fugro Charters CSV Southern Ocean for Work in Australia

Shell to Shut Down Philippine Refinery and Turn It into Import Terminal

Shell to Shut Down Philippine Refinery and Turn It into Import Terminal

AqualisBraemar to Oversee Construction of Offshore Wind Vessels in China

AqualisBraemar to Oversee Construction of Offshore Wind Vessels in China

OPEC Downgrades Oil Demand Forecast

OPEC Downgrades Oil Demand Forecast

Orsted Looking to Farm Down Stake in Borssele 1 & 2 Offshore Wind Project

Orsted Looking to Farm Down Stake in Borssele 1 & 2 Offshore Wind Project

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