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Petronas CEO: Asia's Oil Demand Recovery Remains Fragile

Jun 19, 2020

The recovery in Asia's demand for oil remains fragile despite the reopening of economies across the region, as a second wave of coronavirus outbreaks could hit consumption again, the outgoing head of Malaysia's Petronas said.'We really had a collapse these past few months…

Australia: Triangle Energy Shuts Two Cliff Head Wells

Jun 19, 2020

Australian oil and gas firm Triangle Energy has shut production from two wells ell at the Cliff Head offshore field, one due to a pump failure, the other as a precautionary measure.'Production from CH6 [well] was shut-in on the afternoon of…

Petronas Puts Off Kebabangan Field Maintenance

Jun 19, 2020

Malaysia's Petronas said it has deferred maintenance activities at the Kebabangan gas field in Sabah, which had been originally slated for April.Malaysia implemented lockdown measures in March to curb the spread of the coronavirus.'Maintenance…

Indonesia Sees 2021 O&G Revenue at $18.7-$22.31B

Jun 18, 2020

Indonesia expects gross revenue from oil and gas to fall to between $18.7 billion to $22.31 billion next year, the chairman of upstream oil and gas regulator SKK Migas told parliament on Thursday.Oil prices of $40, $45 or $50 per barrel would produce gross revenue of $18…

Russia Extends Sakhalin Energy Oil and Gas Licenses for 5 Years

Jun 18, 2020

Sakhalin Energy, the international operator of a pioneering liquefied natural gas (LNG) plant in eastern Russia, said on Thursday authorities have extended its oil and gas production licences, which were due to expire in 2021, for five years…

Australia: Chevron to Sell Its Stake in North West Shelf Project

Jun 18, 2020

Chevron Corp aims to sell its minority stake in Australia's biggest and oldest liquefied natural gas (LNG) project, the North West Shelf, after drawing interest from potential buyers, the company said on Thursday.The move marks a long-awaited…

DNS Sharing Offshore Decommissioning Expertise with Brunei

Jun 17, 2020

Decom North Sea, a UK-based non-profit organization focused on knowledge sharing in the space of offshore oil and gas decommissioning sector, is expanding in Asia with a deal struck in Brunei.DNS on Wednesday announced the creation of a 'landmark…

BP Review: Global Energy Consumption Rose by 1.3% in 2019

Jun 17, 2020

BP published its benchmark Statistical Review of World Energy for 2019 on Wednesday which showed that renewable power accounted for over 40% of the growth in primary energy.Here are some highlights from the report which can be downloaded here* Primary energy consumption rose by 1…

How Will the Asia Pacific Upstream Sector Emerge from the Crisis?

Jun 17, 2020

The oil price crash has transformed the outlook for the region’s E&P sector. Globally, governments and operators have been forced into action to rework investment plans in response to the dual impact of the precipitous fall in both demand and oil prices…

Aker Solutions Develops Faster Offshore Well Workover System

Jun 17, 2020

Norwegian engineering company Aker Solutions has said it has developed a modified workover system that enables faster and more cost-effective planned interventions. The concept will first be applied on Equinor’s Visund field in the North Sea…

Petronas Taps Petra Energy for Banang Field Ops

Jun 17, 2020

Malaysia's Petra Energy has secured a contract with Petronas for technical services for Banang offshore field production continuation in Malaysia. The two-year contract takes effect on June 29, 2020.Under the contract, Petra Energy will provide services to operate and maintain the Banang field…

TGS Kicks Off Timor-Leste Seismic Project

Jun 17, 2020

Norway-based marine seismic data company TGS has started commenced a 2Dcubed seismic data project covering offshore Timor-Leste, in support of the country’s ongoing oil and gas license round, announced in October 2019, following the ratification of a maritime border treaty with Australia…

Santos Offers First Bayu Undan Condensate Cargo

Jun 16, 2020

Australian oil and gas producer Santos has offered its first-ever Bayu Undan condensate cargo via a tender for loading in August, two sources with knowledge of the matter said.The 650,000-barrel cargo is scheduled to load on Aug. 8-12. The tender will close on June 17 with bids valid until June 18…

Santos, Gold Fields Pen 3-Year Gas Supply Deal

Jun 16, 2020

Australia's oil and gas company Santos has entered into a new gas supply agreement with Gold Fields Limited for its three gold mines in Western Australia.Santos will supply nearly 5.5 petajoules of natural gas from its Varanus Island gas plant over three years…

Inpex Completes Refinancing Part of Ichthys Funding

Jun 16, 2020

Japan's Inpex Corp said on Tuesday it has completed the previously launched refinancing of part of the funding for the Ichthys liquefied natural gas (LNG) project in Australia.Announcing a deal with seven export credit agencies and 28 commercial banks aimed at improving borrowing conditions…

Current News

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

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

China's MingYang Launches 11MW Offshore Wind Turbine

China's MingYang Launches 11MW Offshore Wind Turbine

IEA Bumps Up 2020 Oil Demand Forecast

IEA Bumps Up 2020 Oil Demand Forecast

GTT to Design Tanks for COSCO LNG Tanker Trio

GTT to Design Tanks for COSCO LNG Tanker Trio

Australian Offshore Safety Regulator to Resume Physical Inspections

Australian Offshore Safety Regulator to Resume Physical Inspections

Ocean Tankers' Supervisor to Start Restructuring Talks with Owners

Ocean Tankers' Supervisor to Start Restructuring Talks with Owners

Eni Hires Polarcus for Asia Pacific Survey

Eni Hires Polarcus for Asia Pacific Survey

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