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TotalEnergies Inks Two LNG Supply Deals in Asia

Jun 04, 2024

TotalEnergies has signed two new medium and long-term contracts with Korea South-East Power and Indian Oil Corporation (IOCL) for the supply of LNG in Asia.TotalEnergies reached a sales and purchase agreement (SPA) with Indian Oil Corporation (IOCL) for the delivery to India of up to 800…

OPEC+ Extends Deep Oil Production Cuts into 2025

Jun 03, 2024

OPEC+ agreed on Sunday to extend most of its deep oil output cuts well into 2025 as the group seeks to shore up the market amid tepid demand growth, high interest rates and rising rival U.S. production.Brent crude oil prices LCOc1 have been trading near $80 per barrel in recent days…

Full LNG Production Restored at Gorgon Facility in Australia

Jun 03, 2024

Chevron has resumed full liquefied natural gas (LNG) production at its Gorgon Gas facility in Australia, after a mechanical fault caused one production train to go offline in late April.'Chevron Australia has resumed full LNG production from…

Bangladesh's Summit LNG Pauses FSRU Operations Due to Cyclone Damage

Jun 03, 2024

Bangladesh's Summit LNG has paused operations at its floating storage and regasification unit (FSRU) in Moheshkhali after it was hit by a stray pontoon during a cyclone on May 27, the company said in a statement to Reuters on Friday.'There was damage to the ballast water tank of the FSRU…

Extreme Asian Heat Spurs LNG Demand Ahead of Summer Months

May 31, 2024

Extreme temperatures across Asia are driving up liquefied natural gas (LNG) demand in the region as importers seek cargoes ahead of summer, with imports in South Asia hitting records.This could tighten available supply and further lift Asian spot prices that have already gained a third since April…

Aramco Acquires 40% stake in Gas & Oil Pakistan

May 31, 2024

Saudi Arabian state-owned oil and gas giant Aramco has competed the acquisition of a 40% equity stake in Gas & Oil Pakistan (GO).GO is a diversified downstream fuels, lubricants and retail store operator in Pakistan with a network of more than 1…

Yinson Production Refinances FPSO Anna Nery Through $1B Bond Placement

May 29, 2024

Yinson Production has placed $1.035 billion senior secured notes to refinance the floating, production, storage and offloading (FPSO) vessel Anna Nery, working for Petrobras in the Marlim field, offshore Brazil.The successful pricing of $1.035 billion 144A/Reg S non-recourse…

ABL Helps Shelter 45 ONGC Rigs Ahead of Storm

May 29, 2024

India’s Oil and Natural Gas Corporation Limited (ONGC), supported by ABL as tow master and marine warranty provider, has moved a record high 45 drilling rigs to new locations ahead of the Indian monsoon season.The 45 rig moves of jack-up rigs…

Hess Shareholders Sign Off On $53 Billion Sale to Chevron

May 28, 2024

Hess shareholders on Tuesday approved the company's $53 billion merger with No. 2 U.S. oil company Chevron, according to preliminary results of the vote.The merger required a majority vote to approve the deal by a majority of Hess' 308 million shares outstanding to pass…

Oil and Gas Firm Santos Taps Japan's Hokkaido Gas for LNG Supply

May 28, 2024

Santos will supply up to about 400,000 tonnes of liquefied natural gas every year for a decade starting 2027 to Japanese energy firm Hokkaido Gas, Australia's second biggest independent oil and gas producer said on Tuesday.The firms will work…

Valeura Starts New Drilling Campaign at Nong Yao Offshore Thailand

May 28, 2024

Canada-based oil and gas company Valeura Energy has started development drilling operations at Nong Yao C extension, having completed the infill drilling campaign at Nong Yao A, offshore Thailand.Valeura has drilled two production-oriented horizontal wells at the Nong Yao A wellhead platform…

China’s CNOOC Acquires Five Offshore Blocks in Mozambique

May 24, 2024

China’s state-run China National Offshore Oil Corporation (CNOOC) has through its wholly owned subsidiaries acquired five offshore oil and gas blocks in Mozambique.CNOOC’s subsidiaries have entered into petroleum exploration and production concession…

Russia Planning New Sea Terminal for LPG Exports to Asia

May 22, 2024

Russia will likely open its first liquefied petroleum gas (LPG) terminal on the Pacific Ocean coast with joint investments from China by the end of 2025, two industry sources said on Wednesday.Last week, Russian Direct Investment Fund (RDIF)…

New Product: Survitec Gauntlet

May 22, 2024

Survitec launched a new energy containment safety device designed to reduce the risks associated with catastrophic value actuator failures.The concept of the safety device was developed due to issues identified in the North Sea oil and gas sector…

China Boosts Crude Oil Storage Amid Soft Refinery Processing

May 20, 2024

The pace at which crude oil flowed into China's stockpiles increased in April as slower refinery processing outweighed a decline in imports.A total of 830,000 barrels per day (bpd) was added to China's commercial or strategic stockpiles in April…

Current News

China’s CNOOC Hits ‘High Yield’ Well in in Beibu Gulf

China’s CNOOC Hits ‘High Yield’ Well in in Beibu Gulf

South Korea's KOMIPO Cancels Plans for LNG Import Terminal

South Korea's KOMIPO Cancels Plans for LNG Import Terminal

ExxonMobil to Transfer Operations of Two Malaysian PSC Assets to Petronas

ExxonMobil to Transfer Operations of Two Malaysian PSC Assets to Petronas

Chinese Wind Turbine-makers Move into Europe as Trade Tensions Flare

Chinese Wind Turbine-makers Move into Europe as Trade Tensions Flare

ExxonMobil Selling Malaysia Oil and Gas Assets to Petronas

ExxonMobil Selling Malaysia Oil and Gas Assets to Petronas

FPSO Bacalhau Becomes World’s First Newbuild with DNV Emissions Abatement Notation

FPSO Bacalhau Becomes World’s First Newbuild with DNV Emissions Abatement Notation

South Korea's SK Innovation Agrees Merger with SK E&S as Part of Overhaul

South Korea's SK Innovation Agrees Merger with SK E&S as Part of Overhaul

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