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Ocean Tankers' Supervisor to Start Restructuring Talks with Owners

Jul 10, 2020

EY, the court-appointed supervisor for Ocean Tankers Pte Ltd (OTPL), has proposed two restructuring options to the shipping company's owners and could meet with them as early as next week to discuss the plans, according to an EY report seen by Reuters…

Japan's JERA Books Hefty One-off Losses on 2019/20 LNG Supplies

Jul 09, 2020

Japan's JERA, the world's biggest buyer of liquefied natural gas (LNG), booked tens of billions of yen in estimated one-off losses on its supply in the year ended on March 31, due to slumping prices, its president Satoshi Onoda said on Thursday…

China Grants Zheijang First Private Fuel Export License

Jul 09, 2020

China has granted Zhejiang Petroleum & Chemical Co (ZPC) a license to export refined oil products, making it the first private oil refiner to win such permission, two sources with knowledge of the matter said on Thursday.The license would allow…

Petrofac Nets $135M Contract with Kazakhstan's NCOC

Jul 09, 2020

UK-based engineering and construction services firm Petrofac has won secured an Engineering, Procurement, Construction, Pre-commissioning and Commissioning (EPCC) contract in Kazakhstan.The contract is  worth about US$135 million for new water…

Indonesia Produced 104.8 LNG Cargoes in Jan-June Period

Jul 08, 2020

Indonesia produced 104.8 standard cargoes of liquefied natural gas (LNG) from its Bontang and Tangguh LNG plants in between January to June. Susana Kurniasih, upstream oil and gas regulator SKK Migas' spokeswoman told Reuters.79 cargoes of LNG were exported and 25…

PetroVietnam to Invest in Renewables Amid Shrinking Oil Output

Jul 08, 2020

Vietnam's state oil firm PetroVietnam is seeking to venture into renewable energy sources like wind farms and floating solar panels, as domestic crude oil production has peaked at most of its offshore oil fields.The company, formally known as Vietnam Oil and Gas Group…

Morgan Stanley, Goldman Sachs to Advise China on Pipeline Asset Transfers

Jul 08, 2020

Top Chinese energy firms have mandated investment banks Morgan Stanley and Goldman Sachs to act as advisors for multi-billion dollar deals transferring key oil and gas pipeline assets into a national energy infrastructure giant, four sources said…

Oil Producers Will Fight for Market Share as Consumption Growth Slows

Jul 07, 2020

Petroleum consumption growth has been slowing for decades and the industry shows increasing signs of maturity, which will have profound implications for the business strategies of oil-producing companies and countries.Slower growth will intensify…

Jadestone, Inpex in Arbitration over Offshore Block in Vietnam

Jul 03, 2020

South East Asia focused oil and gas company Jadestone Energy has started arbitration against Inpex's subsidiary Teikoku over of Jadestone’s acquisition of an interest in Blocks 05-1 b and c, offshore Vietnam.Jadestone in August 2016 signed an…

Japan's LNG Investments Drive Faces Risk of Souring

Jul 02, 2020

Japan's banks and public agencies have funneled nearly $25 billion into liquefied natural gas (LNG) projects since 2017 but the investments may sour as prices plummet from the COVID-19 pandemic and as climate change risks rise, a new study shows…

Spring Oil Flood Causes Summer Queues in Chinese Ports

Jul 02, 2020

Chinese ports are struggling to unload record volumes of crude with storage tanks full after the country rushed to buy extra barrels during April's oil price crash, according to traders and shipping data seen by Reuters.More than 80 million…

MAN Compressors for Yinson's Brazil-bound FPSO

Jul 02, 2020

MAN Energy Solutions will deliver six compressor trains for Yinson's FPSO being built for deployment in Brazil.For the FPSO named Anna Nery, MAN Energy Solutions will deliver four RB-type centrifugal-compressor trains for gas production and export…

Asia Pacific Drilling Technology Event Delayed for 2021

Jul 02, 2020

Asia Pacific Drilling Technology Conference and Exhibition (APDT) originally scheduled for September 1-2 2020 in Yangon, Myanmar has been postponed for next year due to the COVID-19 pandemic.'Due to the ongoing global public health concerns related to COVID-19…

Australia's Oil Search Slashes Workforce by 34%

Jul 01, 2020

Australia's Oil Search on Wednesday said it has reduced its total workforce by around 34% under its cost restructuring review to cushion the blow from subdued oil prices as a result of the coronavirus pandemic.The Papua New Guinea-focused oil…

Malaysia to Sue EU Over Palm Biofuel Restrictions

Jul 01, 2020

Malaysia, the world's second-largest palm oil producer, will take legal action against the European Union's restrictions on palm oil-based biofuels with the World Trade Organization (WTO), calling the policy a 'discriminatory action.'Plantation…

Current News

DOF Subsea Wins 'Key Award' with Chevron in Australia

DOF Subsea Wins 'Key Award' with Chevron in Australia

China's Crude Imports Surged 25% in July

China's Crude Imports Surged 25% in July

Indonesia's Price Cap Obstructing Gas Projects

Indonesia's Price Cap Obstructing Gas Projects

Repsol, Vestigo Tap Alam Maritim for Subsea Services

Repsol, Vestigo Tap Alam Maritim for Subsea Services

Inpex Books $1.3B Writedown on Australian LNG assets, Omitting Ichthys

Inpex Books $1.3B Writedown on Australian LNG assets, Omitting Ichthys

U.S. Sends First Crude Shipment to Saudi Arabia in Years

U.S. Sends First Crude Shipment to Saudi Arabia in Years

Oil Prices Hit 5-Month High

Oil Prices Hit 5-Month High

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