Conrad Asia Energy, through its majority-owned subsidiary West Natuna Exploration as operator, is progressing development of the Mako Gas Project offshore Indonesia, with first gas targeted in the fourth quarter of 2027.The project partner, Empyrean Energy, informed that the development activities at the Duyung production sharing contract remain on track following the final investment decision (FID) announced in March 2026…
Brent crude futures retreated on Tuesday but held near $114 a barrel following fresh hostilities in the Middle East, while investors monitored developments in the U.S.-Israeli conflict with Iran.The U.S. and Iran launched new attacks in the…
Thailand on Tuesday unilaterally terminated a longstanding agreement with Cambodia to work towards joint offshore energy exploration, defying calls from its neighbour to stay the course on the 25-year-old pact.The Thai cabinet's cancellation of the agreement…
China's CNOOC posted a 7.1% rise in first-quarter net profit on Tuesday as the Iran war pushed up global oil prices and the offshore oil and gas major increased its production.Net income for the January-to-March period was 39.14 billion yuan ($5…
The United Arab Emirates’ decision to leave OPEC will sharply diminish the 65-year-old producer group’s influence over the oil market, opening the door to an all‑out price war once Gulf producers rush to regain market share when the Iran war is over…
The United Arab Emirates said on Tuesday it was quitting OPEC and OPEC+, dealing a heavy blow to the oil exporting groups and their de facto leader, Saudi Arabia, at a time when the Iran war has caused a historic energy shock and unsettled the global economy…
In recent years, Asia’s offshore sector has regained strategic importance, particularly in countries such as Malaysia, Indonesia and Vietnam, as operators pursue new upstream opportunities while governments seek to strengthen domestic and regional energy security…
Italy's Saipem can win contracts for post-Iran-war repair work in the Middle East by leveraging its long-term relationships with customers in the region, the energy services group's chief executive said on Wednesday.The cost of repairing damage…
Conflict between Iran, the United States, Israel and allies throughout the Gulf region has had an immediate effect on the oil and gas industry, both upstream and downstream. Drone and missile attacks have damaged refineries and as of mid-April 2026…
Bureau Veritas Marine & Offshore has launched an Offshore Center of Excellence in Asia Pacific to support offshore energy projects.The center will combine regional teams in Singapore, Shanghai and Kuala Lumpur with the company’s global technical…
Canada-based oil and gas company Valeura Energy has signed an agreement with Shelf Drilling to chart the Shelf Drilling Enterprise jack-up rig for a three-year term through the end of 2029.The rig, owned by Shelf Drilling (Southeast Asia), a subsidiary of ADES Holding Company…
Oil prices jumped on Wednesday with Brent trading above $100 a barrel, erasing earlier losses following reports of gunfire attacks on at least three container ships in the Strait of Hormuz.Brent crude futures LCOc1 were up $1.59, or 1.6%, at $100…
The conflict between Iran and the United States and Israel is creating the worst energy crisis ever faced by the world, the head of the International Energy Agency (IEA) said on Tuesday.'This is indeed the biggest crisis in history,' Birol told…
Jadestone Energy has signed a gas sales and purchase agreement with PV Gas, a subsidiary of state-owned Petrovietnam, for the supply of gas from the Nam Du and U Minh discoveries offshore Vietnam.The agreement sets out terms for gas sales, with…
The stop-start shipping traffic through the Strait of Hormuz underscores the profound uncertainty hanging over the world’s most critical oil and gas chokepoint. But one thing is already clear: even if the guns fall silent, flows through the…
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