The United States this week hardened its position on the South China Sea, where it has accused China of attempting to build a 'maritime empire' in the potentially energy-rich waters, despite regional concerns.The rivals have accused each other…
OPEC and allies such as Russia meet on Wednesday to decide oil output policy from August amid broad market expectations the group will ease supply curbs as the global economy slowly recovers from the coronavirus pandemic.The Organization of the Petroleum Exporting Countries and allies…
Australia's Woodside Petroleum Ltd reported a worse-than-feared 29% drop in quarterly revenue, hit by weak spot liquefied natural gas (LNG) prices, but said it still expected to book a net profit in the first half.The hit came due to the double…
Indonesian state oil company PT Pertamina expects to produce 170,000-180,000 barrels per day (bpd) at the Rokan block when it takes over in August next year, the chief executive of Pertamina Hulu Energi, Budiman Parhusip, said on Wednesday.The government decided in 2018 that the operation of Rokan…
Norwegian oil services firm Aker Solutions said on Wednesday the outlook has improved for the second half of the year with oil prices partly recovered from the lows in April and Norway offering tax incentives for the oil industry.Its full-year 2020 revenue…
Engineering and construction company McDermott International Ltd. has appointed Tareq Kawash as Senior Vice President for its Europe, Middle East and Africa (EMEA) region.Kawash was formerly the Senior Vice President for the Europe, Africa, Russia and Caspian (EARC) region…
Chinese coastguard and navy ships intruded into Malaysian waters in the disputed South China Sea 89 times between 2016 to 2019, and often remained in the area even after being turned away by the Malaysian navy, the government said in a report on Tuesday…
Russia's Gazprom is committed to supply as much as 130 billion cubic meters of gas (bcm) to China annually in the longer term, a company official told a conference call on Tuesday.Gazprom currently supplies gas to China via the Power of Siberia…
Hungarian oil company MOL has made a gas and condensate discovery at its TAL Block in Pakistan, marking its 13th successful discovery in the country and the tenth at the same block.The company said Tuesday that the Mamikhel South-1 exploratory well had reached a total depth of 4…
Global oil demand will soar by a record 7 million barrels per day (bpd) in 2021 as the global economy recovers from the coronavirus pandemic but will remain below 2019 levels, OPEC said in its monthly report.It was the first report in which OPEC assessed oil markets next year…
Finland-based marine engine and technology provider Wärtsilä has been tasked to equip the first Taiwan-built offshore wind installation vessel - the Green Jade - with 'a broad scope' of its solutions.The 216 meters long vessel will be built…
Australia's Woodside Petroleum Ltd plans to book impairments of $4.37 billion after tax, joining global energy majors that have slashed the value of their assets after a coronavirus-induced slump in oil and gas prices.The bulk of the impairment - $3…
Two former managers of Monaco-based energy consultancy Unaoil have been convicted in Britain of bribing Iraqi officials to clinch lucrative oil projects as the war-ravaged country tried to boost exports after the fall of Saddam Hussein in 2003…
Beach Energy and Bridgeport Energy have been awarded permits to explore for gas in Victoria, Australia, state waters near Portland and Port Campbell.'As Victorians turn up their gas heaters during the winter chill, the search for new gas off…
Oil Search Ltd said on Monday it plans to write off around $380 million, mostly on some exploration assets and a gas-to-power project in Papua New Guinea, due to the outlook for oil and gas prices and the shut down of a gold mine.The Papua New…
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