Saudi Arabia and neighbouring Gulf producers will cheer the eventual reopening of the Strait of Hormuz, but the ensuing flood of oil risks eroding OPEC’s already fragile grip on the market.The Iran war and the closure of the vital waterway – through which nearly a fifth of the world’s oil and gas flowed before the conflict – have sharply diminished output from the Organization of the Petroleum Exporting Countries and moved the industry’s centre of gravity away from the Middle East…
JERA has received its first liquefied natural gas (LNG) cargo from the Barossa gas project in Australia, marking the start of LNG deliveries from the offshore development to Japan's largest power generation company.The cargo arrived aboard the…
Industrial action at Inpex's Ichthys liquefied natural gas facilities continued on Friday after a hearing on the Japanese firm's application to halt the strikes was postponed to Saturday.Australia's Fair Work Commission confirmed to Reuters that the hearing was deferred to June 13…
Oil prices fell more than 2% on Friday, extending losses from the previous session after U.S. President Donald Trump cancelled plans to strike Iran, reducing fears of an escalation of hostilities following tit-for-tat attacks earlier in the week…
EnQuest has agreed to acquire interests in four offshore production sharing contracts (PSCs) in Malaysia for up to $833 million, a deal that would significantly increase the independent energy company's production, reserves and cash flow.The…
Oil prices were steady on Wednesday, as renewed U.S.-Iran hostilities muddied direction, though a forecast U.S. stock draw offered support.Brent futures LCOc1 were up 25 cents, or 0.27%, to $91.70 a barrel at 0736 GMT, while U.S. West Texas Intermediate crude CLc1 was up 23 cents…
Abu Dhabi National Oil Company is exploring opportunities in Canada's upstream and liquefied natural gas sectors through its international arm XRG, a senior company executive said on Tuesday at the Global Energy Show in Calgary.Musabbeh Al Kaabi…
Malysia’s Petronas and Japan's JERA have signed a new long-term liquefied natural gas (LNG) supply agreement that will extend their partnership into the 2040s.Under the agreement, Petronas, through its wholly owned subsidiary Petronas LNG (PLL)…
Oil prices fell on Tuesday, erasing most of the previous session's gains, after Iran and Israel said they had halted attacks on each other following an appeal from U.S. President Donald Trump, though both sides warned they could resume hostilities…
Workers will escalate the strike at Inpex's Ichthys LNG facilities in Australia that started last week over a wage dispute, after talks failed to progress with the Japanese operator, the Offshore Alliance union said on Monday.Ichthys accounts for about 10% of LNG supply from Australia…
Oil prices jumped more than $4 on Monday, with investors spooked by fresh Israeli strikes on Iran as well as renewed attacks on Lebanon a day earlier.Brent crude futures LCOc1 rose $4.42 or 4.47% to $97.15 a barrel as of 0609 GMT, while U.S…
Eni and Petronas have officially established Searah, a new 50/50 joint venture combining selected businesses across Indonesia and Malaysia, creating what has been described as Southeast Asia's largest independent integrated energy company.The…
Oil prices edged down after Oman said operations at Mina al Fahal port were proceeding normally, following a Reuters report that oil loadings had been suspended after an explosion.Brent crude futures LCOc1 fell 24 cents, or 0.25%, to $94.79 a barrel by 0704 GMT after settling down 2…
Petronas, through Malaysia Petroleum Management (MPM), has signed a memorandum of understanding with regional exploration and production operators and Universiti Teknologi Petronas (UTP) to jointly evaluate opportunities for improved and enhanced oil recovery in offshore acreages…
SBM Offshore has entered into a shareholders' agreement with long-standing business partner NYK to divest a 45% ownership interest in the special purpose companies related to the lease and operation of the Chalchi floating storage and offloading (FSO) unit…
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