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Transborders Energy, SBM Offshore in FLNG Pact

Jun 29, 2020

Australia's Transborders Energy, a company working to develop an FLNG solution for marginal field development, has signed a partnership agreement with the floating production solutions giant SBM Offshore.Perth-based Transborders said Sunday…

India to End Federal Control of Gas prices, Lift LNG transport Use

Jun 26, 2020

India will gradually end federal controls on gas pricing as it seeks to attract foreign investment and technology to lift local output, oil minister Dharmendra Pradhan said on Friday.India, which is a large emitter of greenhouse gases and has multiple gas pricing regimes…

Asian LNG Prices Steady on Ample Supply despite U.S. Cargo Cancellations

Jun 26, 2020

Asian spot liquefied natural gas (LNG) prices remained steady this week on a continued stream of spot supply even though traders continued to cancel cargoes loading from the United States due to poor economics. The average LNG price for August…

OWC Sets Up Office in S. Korea

Jun 26, 2020

OWC, formerly known as Offshore Wind Consultants, has set up an office in South Korea, a country with ambitious offshore wind plans. 'We continue our expansion into key emerging markets such as South Korea. We believe a local presence is central…

Gazprom Starts Construction of Arctic Offshore Platform

Jun 26, 2020

Construction of Gazprom's ice-resistant offshore production platform for the development of the Kamennomysskoye-Sea field began Thursday at the shipyard of Southern Shipbuilding and Repair Center (part of United Shipbuilding Corporation) in the Astrakhan Region…

Woodmac: How has the Price Crash Changed the Upstream Sector?

Jun 25, 2020

According to Wood Mackenzie’s analysis, the oil price crash wiped US$1.6 trillion off the valuation of the global upstream industry.Andrew Pearson, vice president, upstream, said: 'This figure captures the impact of Wood Mackenzie’s downgraded…

New Zealand Refiner to Shrink. May Turn into Fuel Import Terminal

Jun 25, 2020

Refining NZ said on Thursday it is considering shutting New Zealand's only oil refinery and turning it into a fuel import terminal in the long run, but first will reduce its operations to cut costs and breakeven into 2021.Refining NZ's Marsden…

Chevron Strikes Wheatstone Gas Deal with BHP

Jun 24, 2020

Oil and gas major Chevron has signed a gas sales agreement in Australia, to supply BHP Nickel West from its Wheatstone gas project.Starting in July 2020, Chevron plans to supply BHP Nickel West with a total of 22 Petajoules of equity domestic gas over the 3…

FAR Misses Sangomar Payment

Jun 24, 2020

Australian-listed oil and gas company FAR Ltd said on Wednesday its Senegalese unit had defaulted on its obligations to the Sangomar joint venture, as the company looked to sell its interest in the project.The company owns 15% of the Sangomar oil and gas field being developed off Senegal…

Buyers of U.S. LNG to Cancel 40-45 Cargoes

Jun 23, 2020

Buyers of liquefied natural gas (LNG) are expected to cancel 40 to 45 cargoes for August loading from the United States due to a slow recovery in Asian gas demand and record-high European gas stocks, market sources said on Monday.The exact number…

ADNOC in $10B Mega Pipeline Deal with International Consortium

Jun 23, 2020

Abu Dhabi National Oil Company (ADNOC) said on Tuesday it had signed a $10 billion gas infrastructure deal with a consortium of investors, while its chief executive told Reuters the company would keep a tight lid on costs amid low oil prices…

DSME Delivers Excelerate's 10th FSRU

Jun 23, 2020

South Korean shipbuilding firm Daewoo Shipbuilding and Marine Engineering (DSME) has earlier this month delivered a floating storage regasification unit (FSRU) to Excelerate Energy.The FSRU, named the Excelerate Sequoia, is Excelerate Energy's tenth FSRU vessel…

Petronas in Talks to Settle Tax Dispute with Sarawak State

Jun 23, 2020

Malaysian national oil company Petronas is in talks to finalize a deal with an energy rich province to settle a dispute over the payment of sales tax, a lawyer for the company said on Tuesday.Petronas had been fighting Sarawak state's demand…

Woodside Aims to Play Decisive Role in Sale of Chevron Australian LNG Stake

Jun 23, 2020

Woodside Petroleum's Chief Executive Peter Coleman said the Australian firm aims to play a decisive role in Chevron Corp's plan to sell a stake in the North West Shelf (NWS) project, operated and co-owned by Woodside.Chevron last week put its…

China to Boost Oil, Gas Output in 2020

Jun 22, 2020

China aims to produce 1% more crude oil this year than in 2019 and to boost natural gas output by 4.3%, official targets showed on Monday, as the country seeks to safeguard energy security even after a coronavirus-driven collapse in oil prices…

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