Asia/Pacific
Venture Global LNG Acquires Nine LNG Vessels, Deepens Presence in LNG Value Chain
The nine vessels will be constructed in South Korea and the Arlington-based company said the move will deepen its involvement throughout the LNG value chain.
IEA Forecasts Non-OPEC+ to Lead 2024 Oil Production Growth, Offset Output Cuts
Near-term global oil and liquids production growth will be driven primarily by the U.S., Guyana, Canada, and Brazil, offsetting voluntary production cuts by OPEC+, the U.S. Energy Information Agency (EIA) forecast on Thursday.
Israel's NewMed Delays $2 Billion BP, ADNOC Buy-In Offer Amid Regional Uncertainty
A $2 billion offer by Abu Dhabi's national oil company and BP to buy a 50% stake in Israeli gas producer NewMed has been put on hold due to uncertainty in the region, NewMed said on Wednesday.
Vopak, Air Liquide to Develop Hydrogen Pipeline Network in Singapore
The companies will look at developing low-carbon ammonia supply chains in Singapore, including ammonia cracking facilities, storage and handling infrastructure at Vopak's Banyan terminal, as well as distributing low-carbon hydrogen through a hydrogen pipeline network, Vopak said.
Japan Bolsters LNG Supplies, Relying More on Allies Australia and U.S.
Resource-scarce Japan is shoring up long-term supplies of liquefied natural gas from close allies Australia and the United States as key contracts from providers including Russia are set to expire by the early 2030s.
CNOOC Discovers 100 Million Ton Oilfield in South China Sea
Chinese state-owned oil and gas giant CNOOC Ltd. has discovered a new reserve in the South China Sea containing over 100 million tons of oil equivalent proved in-place, the company said in a statement on Friday.
AG&P LNG Acquires 49% Stake in Vietnam's Cai Mep LNG Terminal
Singapore-based Atlantic, Gulf and Pacific LNG (AG&P), a unit of U.S. investment and development firm Nebula Energy, has acquired a 49% stake in Vietnam's Cai Mep LNG terminal, it said in a statement on Thursday.
IEA Forecasts Well-Supplied Oil Market in 2024 Despite Demand Slowdown
The global oil market is relatively well supplied with demand growth slowing, while supply is increasing from the Americas, the head of the International Energy Agency's (IEA) oil markets and industry division told Reuters on Thursday.
Temasek Shortlists Saudi Aramco, Shell for Pavilion Energy Asset Sale
Singapore's Temasek Holdings has shortlisted energy giants Shell and Saudi Aramco among a handful of companies to purchase most of the assets of LNG trading firm Pavilion Energy, sources with knowledge of the matter said.
India Plans $4.95 Billion Natural Gas Pipeline Network for Kashmir, Northeast Region
India expects investment of about $4.95 billion from companies to build natural gas pipeline infrastructure in its northeastern states and northern federal territories of Kashmir and Ladakh, a minister said on Monday.
Philippines' Top Energy Firms Collaborate on $3.3 Billion LNG Facility Project
Three top Philippine energy firms have partnered for the first time to form a large-scale integrated LNG facility, the companies said on Sunday, in a deal two of them valued at $3.3 billion.
Global News March 2024
Latest industry developments from around the world!
Woodside Energy Inks Long-Term LNG Supply Deal with South Korea
Woodside Energy has inked an agreement with South Korean state-owned natural gas firm Korea Gas Corp. to supply LNG for more than a decade, the Australian oil and gas company said on Wednesday.
Qatar's LNG Expansion Plans Set to Squeeze Out U.S., Rivals
Qatar's planned expansion of LNG production could see it control nearly 25% share of the global market by 2030 and squeeze out rival projects including in the United States where President Biden paused new export approvals, market experts said.
Australia's Woodside to Sell Stake in Scarborough to Japan's JERA for $1.4 Billion
Woodside Energy is selling a 15.1% stake in its Scarborough project to Japan's JERA for about $1.4 billion, marking the Australian gas producer's second stake sale to a Japanese LNG buyer in six months.
BP's Tangguh LNG Train 3 Resumes Operations After Week-Long Outage
The third train of BP's Tangguh liquefied natural gas (LNG) facility in West Papua, Indonesia has resumed operations after an outage for about a week, the country's upstream oil and gas regulator SKK Migas said on Wednesday.
Kyushu Electric to Await U.S. LNG Policy Clarity Before Lake Charles Decision
Japan's Kyushu Electric Power will wait until after the United States resumes issuing export licenses for new LNG projects before deciding on whether to invest in the Lake Charles project, an executive said.
China's CNOOC Receives Approval for Second LNG Berth at Yancheng Port
Chinese state-owned CNOOC has received government approval to build a second berth at its LNG receiving terminal in Yancheng in eastern Jiangsu province, according to a statement from the Shanghai Petroleum and Natural Gas Exchange on Tuesday.
Pavilion Energy, Rio Tinto Complete Ship-to-Ship LNG Bunkering Operation
Singapore's Pavilion Energy has completed a ship-to-ship LNG bunkering operation with global mining giant Rio Tinto via the newly built Brassavola bunker vessel, marking the vessel's first ship-to-ship LNG bunkering operation.
Equinor Signs 15-Year LNG Deal with India's Deepak Fertilizers
Norway's Equinor said on Monday it had signed a 15-year agreement to supply liquefied natural gas (LNG) to India's Deepak Fertilizers from 2026.
Tokyo Gas Expects Half of Overseas Profit to Come from U.S. Gas by 2030
Japan's biggest city gas supplier Tokyo Gas Co. Ltd. expects that by 2030 its U.S. shale gas and related businesses, including trading and marketing, will contribute around 50% to its targeted overseas profit, its president said.
Shell Forecasts 50% Surge in Global LNG Demand by 2040
Global demand for liquefied natural gas (LNG) is estimated to rise by more than 50% by 2040, as China and countries in South and Southeast Asia use LNG to support their economic growth, Shell said on Wednesday.
Global Oil Stock Refill Led by China and U.S. Expected to Drive Demand
A push to replenish depleted oil stocks notably in China, the United States and Europe could buoy demand and prices in coming months, analysts and traders said, as tensions in the Middle East threaten key shipping lanes.
BPCL to Establish First Green Hydrogen Plant at Indian Airport
Indian refiner Bharat Petroleum Corp. Ltd. (BPCL) said on Wednesday it will set up the first-ever green hydrogen plant inside an airport in the country.
Japan's Japex Eyes U.S. as Prime Investment Hub for Energy Exploration Despite Political Risks
Japan Petroleum Exploration (Japex) sees the United States as the most appealing investment destination for oil and gas exploration and production, despite political risks posed by this year's election, its senior managing executive officer said on Friday.
Adani Total Says Dhamra LNG Terminal Operating at 55% Utilization Rate
Adani Total Pvt Ltd.'s Dhamra terminal has received 15 commercial LNG cargoes since commissioning in May 2023 and is operating at a utilization rate of 55%, CEO Satinder Pal Singh said on Tuesday.
Saudi Arabia Keeps Arab Light Crude Price to Asia Unchanged in Surprise Move
Top oil exporter Saudi Arabia unexpectedly kept March price of its flagship Arab Light crude to Asia unchanged at a more than two-year low, an Aramco statement showed on Tuesday, as the OPEC leader strives to maintain its market share.
QatarEnergy and Petronet LNG Sign 20-Year LNG Deal
The deal will see Qatar supply 7.5 million metric tons per year of LNG to Petronet LNG on a delivered ex-ship basis (DES) from 2028 to 2048, according to a Petronet LNG statement.
Oil India in Talks to Resume Drilling Operations in Libya After 13-Year Hiatus
Oil India is talks with stakeholders to restart drilling in Libya, thirteen years after the company exited the country due to political instability, a top company official told Reuters.
Mitsubishi Sees Russia's Sakhalin LNG as Key Energy Source for Japan
Mitsubishi Corp. CEO Katsuya Nakanishi said on Tuesday that Russia's Sakhalin 2 LNG project remains a key source for Japan's energy supply, as Japanese companies maintain their Russian exposure.
- Energy Transfer Subsidiary Selects KTJV for Lake Charles LNG Export Project
- Phillips 66 to Shut LA Oil Refinery, Ending Major Gasoline Output Amid Supply Concerns
- FERC Sides with Williams in Texas-Louisiana Pipeline Dispute with Energy Transfer
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- Malaysia’s Oil Exports to China Surge Amid Broader Import Decline
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Marathon Oil to Lay Off Over 500 Texas Workers Ahead of ConocoPhillips Merger
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
