Asia/Pacific
India's Robust LNG Imports Are Asia's Standout, But Higher Prices May Weigh
Asia's imports of liquefied natural gas (LNG) are displaying contrasting dynamics in May, with strength in usually price-sensitive buyers like India, but a softer trend in the developed economies such as Japan and South Korea.
Petronas' Bintulu LNG Facility Fully Operational After Power Disruption
Malaysian state-run Petronas said on Thursday its LNG complex in Bintulu was fully restored on Sunday, more than a week after a power loss incident disrupted normal operations.
Saudi Crown Prince Assures Japan of Stable Oil Supply Amid Postponed Visit
The crown prince told Kishida that "Saudi Arabia remains committed to the stable supply of crude oil to Japan and that Saudi Arabia would like to cooperate with Japan in other areas including the field of clean energy," it said.
Uzbekneftegaz in Talks to Join Azerbaijan's Shah Deniz Gas Project
Uzbek energy firm Uzbekneftegaz is in talks with Azerbaijan's SOCAR over joining a project to develop Shah Deniz, the largest gas field in the Azerbaijani section of the Caspian Sea, an Uzbek official said on Tuesday.
Russia Remains China's Top Oil Supplier for 12th Consecutive Month in April
Russia was China's top oil supplier in April for a 12th month, with volumes rising 30% from a year earlier, official data showed, as refiners continued to cash in discounted shipments, while supplies from Saudi Arabia fell a quarter on higher prices.
Putin Suggests Potential for Oil Pipeline Alongside Planned Gas Link to China
Russia could deliver oil as well as gas to China along a planned route via Mongolia, President Vladimir Putin said on Friday. The project has taken on added urgency for Russia as it bids to ramp up gas shipments to China to make up for the collapse of its exports to Europe because of the war in Ukraine.
Global News May 2024
Latest industry developments from around the world!
CoolCo Secures Long-Term Charter Deal with GAIL for New LNG Carrier
Cool Company Ltd. has entered into a 14-year charter deal with India’s GAIL for one of the company’s two newbuild LNG carriers currently under construction.
Japan's JERA Plans $32 Billion Investment in LNG, Renewables, and New Fuels Over Next Decade
Japan's top power utility JERA said on Thursday it plans to invest $32.4 billion over the coming decade into renewable energy and new fuels such as hydrogen and ammonia, as well as LNG.
PetroChina Official Forecasts Record China LNG Imports in 2024
China's liquefied natural gas imports could hit record levels in 2024, a PetroChina official forecast on Wednesday.
Exxon, Pertamina to Advance Carbon Capture Efforts with Appraisal Drilling in Indonesia
Pertamina and Exxon plan to conduct appraisal drilling for a carbon capture and storage (CCS) hub in Indonesia, with the companies signing an initial storage deal with South Korea's KNOC on Wednesday.
Slovakia Paves the Way for Gas Imports from Azerbaijan via Ukraine
Slovakia is laying the groundwork to receive gas from Azerbaijan through Ukraine, to further diversify its supplies away from Russia and revive earnings from transit to other countries, Prime Minister Robert Fico said on Monday.
Saudi Arabia to Reduce Crude Oil Supply to China by 5.8 Million Barrels in June, Sources Say
The supply cuts come after the world's top exporter Saudi Aramco hiked official selling prices (OSPs) for most of its crude to Asia to the highest in five months despite weak refining margins.
Sinopec in Talks with Pembina Pipeline for LNG Offtake, Cedar LNG Stake, Sources Say
China's Sinopec is in discussions with Pembina Pipeline Corp. for an LNG offtake agreement and equity stake in the Canadian company's proposed Cedar LNG project, sources said.
U.S. Oil Executive Censure Puts Spotlight on Shale-OPEC Meetings
A U.S. regulator's censure of a top U.S. oil executive over private meetings with the Organization of the Petroleum Exporting Countries (OPEC) group of oil producers has put a spotlight on dinners attended by dozens of shale executives.
NOV Introduces Breakthrough Heated Flexible Pipe System for Subsea Operations
NOV will supply its first active heated pipe system in 2025, introducing a proprietary technology solution of electrically heating the bore of the pipe through the resistance of the pipe’s inner carcass layer.
QatarEnergy Inks $6 Billion Deal for 18 LNG Vessels with China's CSSC
QatarEnergy has finalized an agreement with China State Shipbuilding Corp. (CSSC) for the construction of 18 state-of-the-art LNG vessels, each boasting a capacity of 271,000 cubic meters.
Pipeline Projects Seen as Unlikely to Involve Western-Based Companies
(P&GJ) – Inside China, there are numerous large-scale oil and gas pipeline projects that are being built, are currently in the planning stages or have been proposed. Some of these have huge potential significance, and the situation has certainly caught the attention of Western-based companies, which hope to supply equipment, technology or services to one or more of the projects.
Equinor Expands LNG Trading, Eyes Europe and Asia Deals, Senior Exec Says
Norwegian energy group Equinor plans to expand its LNG trading business and is in talks with a number of potential buyers in Europe and Southeast Asia, a top official told Reuters.
Global News April 2024
Latest industry developments from around the world!
Mitsui Yet to Decide on ADNOC LNG Project Partnership Despite Nikkei Report
Japan's Mitsui & Co. said on Tuesday nothing has been decided on an LNG project in the United Arab Emirates, after the Nikkei reported it was teaming up with Abu Dhabi National Oil Company (ADNOC) on it.
Saudi Aramco in Talks for 10% Stake in China's Hengli Petrochemical
The potential deal "aligns with Aramco's strategy to expand its downstream presence in key high-value markets, advance its liquids-to-chemicals program, and secure long-term crude oil supply agreements," the company said.
Japan Looks at Developing Domestic Pipelines Sector
(P&GJ) – The government of Japan will create conditions for the development of a domestic pipelines sector in years to come. It will take place through the stimulation of building new gas and other pipelines throughout the country.
Wah Kwong Expands LNG Carrier Fleet Amid Growing Trade Demand
Hong Kong-based shipping company Wah Kwong is finalizing a deal later this month to double the number of LNG carriers that it has ordered to four, as it eyes growing global trade in the superchilled fuel, its chairman said.
TotalEnergies to Acquire Full Ownership of SapuraOMV, Expanding Gas Operations in Malaysia
TotalEnergies has entered into an agreement with Sapura Upstream Assets Sdn Bhd to acquire its 50% interest in Malaysian independent gas producer and operator SapuraOMV Upstream Sdn for $530 million.
PetroChina Purchases First Spot LNG Cargo from Papua New Guinea National Oil Firm
PetroChina International has lifted a spot cargo of LNG from the PNG LNG project sold by Papua New Guinea's national oil company, the Chinese state oil and gas trader said on Friday.
Japanese Consortium Invests $370 Million in I Squared Capital's India Gas Platform
A Japanese consortium will invest $370 million to acquire a minority stake in a platform that invests in companies developing city gas distribution networks in India, global infrastructure investor I Squared Capital said on Monday.
CNOOC Stockpiles Russian Oil at New Reserve Base in China
State-run China National Offshore Oil Co., one of the country's top importers of Russian oil, has in recent months been pumping shipments of ESPO blend from Russia's Far East into a newly launched reserve base, according to traders and tanker trackers.
Niger Signs $400 Million Crude Oil Deal with Chinese Firm CNPC
Niger has signed a memorandum of understanding with Chinese state-owned oil giant China National Petroleum Corp. worth $400 million linked to the sale of crude oil from its Agadem oilfield, Niger state television RTN reported late on Friday.
Chevron Hands Over Stake in Myanmar Gas Field to Junta, PTTEP
U.S. energy company Chevron has quit the Yadana natural gas field in Myanmar, a spokesperson said on Monday, more than two years after it condemned violence and human rights abuses there and announced it would leave.
- Mexican President: Billionaire Slim Interested in Pemex Natural Gas Project
- Freeport LNG Sues Three Contractors Over Defects at Texas Plant
- Energy Transfer Adds 6,000 Miles of Pipeline with $3.25 Billion WTG Midstream Acquisition
- FERC Approves Transco's Texas to Louisiana Gas Pipeline Project
- Williams Says Court Rules in Its Favor in Pipeline Dispute with Energy Transfer
- U.S. to Buy 4.5 Million Barrels of Oil to Replenish Strategic Petroleum Reserve
- Kurdish Oil Smuggling to Iran Flourishes
- U.S. Court Overturns Alaska Oil Lease Sale, Halting Energy Development
- Second Gas Pipeline Rupture in Texas’ Reeves County Raises Environmental Concerns
- Williams Begins Louisiana Pipeline Construction Despite Ongoing Legal Dispute with Energy Transfer
