The market for floating production systems is booming, according to World Energy Reports' (WER) latest assessment of activity and developments in the offshore oil and gas market.“Business conditions and market sentiment in the deepwater sector have seldom been so positive…
Asian spot liquefied natural gas (LNG) hit a fresh record high [last week] as South Korean and Japanese buyers restocked for the winter and a planned outage at the Nord Stream 1 pipeline next week pushed up European demand.The average LNG price…
Chinese offshore oil and gas major CNOOC expects its annual domestic crude oil production to reach 1.2 million barrels per day by 2025, 28% above its current level.The targeted output compares to first-half production offshore China in 2022 of 169…
Japan's JERA has signed a deal with the new operator of the Sakhalin-2 energy project in Russia to maintain long-term deliveries of liquefied natural gas (LNG), a spokesperson for the country's biggest power generator said on Friday.Russian…
Military-ruled Myanmar earned $800 million from natural gas exports mainly to China and Thailand, between April and July, the junta said in the state newspaper on Thursday.The country has been embroiled in chaos since the military overthrew…
Shell and unions representing workers at its Prelude floating liquefied natural gas (FLNG) facility have reached a wage deal to end a long-running strike and restart production at the site off northwest Australia, they said on Wednesday.Shell shut the 3…
Thai oil and gas company PTTEP has restarted gas deliveries to Thailand from the Zawitka offshore gas field in Myanmar, following a halt caused by an onshore gas leak earlier this month.PTTEP had said that there had been a leakage at the Zawtika’s onshore pipeline…
State oil giant Saudi Aramco on Sunday reported its highest quarterly profit since the company went public in 2019, boosted by higher oil prices and refining margins.Aramco joins oil majors such as Exxon Mobil Corp and BP that have reported…
Beach Energy Ltd is shoring up its war chest for acquisitions in Australia and New Zealand, Chief Executive Officer Morne Engelbrecht said on Monday, after reporting a weaker-than-expected annual profit and production outlook.Shares in gas and oil producer Beach…
Asia Pacific-focused oil and gas company Jadestone has decided to shut production from its Montara field FPSO in the Timor Sea, off Australia, to allow for repairs on a tank that leaked oil back in June through a 30-millimeter crack.While the…
Australian state energy ministers said on Friday local gas production should be prioritized for the domestic market to ensure there is no shortfall, as forecast for 2023 and 2024, raising pressure on exporters to boost local supply.Comments from the ministers from the two most populous states…
Japanese oil and gas company INPEX has filed a $970 million claim against South Korean shipbuilder Daewoo Shipbuilding Marine & Engineering, seeking compensation for alleged delays and construction issues related to a 2012 FPSO order.DSME said…
Japan's biggest oil and gas explorer Inpex Corp on Monday lifted its full-year net profit forecast by 17% as strong prices of oil and natural gas boosted its first-half earnings while a weaker yen also lent support.A rapid recovery in demand…
Indonesia's state energy company Pertamina's production of oil and gas stood at 965,000 barrels of oil equivalent per day (BOEPD), up from 850,000 BOEPD in the same period last year, the company said on Monday.Pertamina posted bigger production after boosting drilling activities…
ConocoPhillips on Thursday raised its shareholder payout target by 50% after the largest U.S. independent oil producer beat Wall Street's earnings estimates on surging energy prices.Oil and gas prices have skyrocketed with Western sanctions…
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