Asia/Pacific

Japan to Ban Russian Oil Imports 'In Principle,' Prime Minister Says

Japan will ban Russian crude oil imports "in principle," as part of a Group of Seven (G7) campaign to counter Russia's invasion of Ukraine, Prime Minister Fumio Kishida said after an online meeting of G7 leaders on Sunday.

Japan to Release 7.5 MMbbl of Oil Reserves in IEA-led Global Action

The volume makes up 12.5% of a planned coordinated release of 60 MMbbl of oil reserves that the U.S. and other members of the IEA agreed to compensate for supply disruptions following Russia's invasion of Ukraine.

US Supplies Give China Muscle to Become Major Force in LNG Trade

Chinese firms are set to become a major trading force in the global liquefied natural gas market in coming years, thanks to liberalizations at home and recently signed long term contracts for record amounts of LNG from U.S. suppliers.

South Korea, Iran Discuss Resuming Oil Trade

South Korea and Iran have held working-level talks on resuming imports of Iranian crude oil and unfreezing Iranian funds held in the East Asian nation, South Korea's foreign ministry said on Wednesday.

India's Reliance Plans to Turn Syngas into Blue Hydrogen

India's Reliance Industries plans to produce blue hydrogen at a "competitive cost" of about $1.2-$1.5 per kg as it repurposes its $4-billion gasification assets, the conglomerate said in a presentation.

Global News February 2022

EIA Updates Oil Price Forecasts Through 2023, Indian Oil Investing $944 Million on Gas Sales in New Areas, Cruz’s Nord Stream 2 Sanctions Bill Fails to Pass in US Senate and more.

Thailand Scrambles to Contain Second Oil Leak Off East Coast

Ships were deployed in Thailand on Thursday to contain a fresh oil spill off its eastern coast, authorities said, two weeks after an undersea pipeline leak in the same area damaged coastal communities and marine life.

Japan to Divert LNG to Europe Amid Russia-Ukraine Tensions

Japan will divert some LNG cargoes to Europe after requests from the United States and the European Union, the industry minister said on Wednesday, a step that aligns the country with the West as tensions flare with Russia.

Russia May Use Field Hit by U.S. sanctions for Gas Exports to China

Russian gas giant Gazprom may tap a field hit by U.S. sanctions off the Pacific island of Sakhalin to provide China with gas under a recently signed deal, sources and analysts said on Tuesday.

Putin Hails $118B of China Deals as Russia Squares Off with West

President Vladimir Putin unveiled new Russian oil and gas deals with China worth an estimated $117.5 billion on Friday, promising to ramp up Russia's Far East exports at a time of heightened tension with European customers over Ukraine.

Russia, China May Sign Energy Deals Amid Moscow Tensions with West

Russian President Vladimir Putin may seek to deepen energy ties with China during a meeting with leader Xi Jinping this week while attending the Winter Olympics this week in Beijing.

Oil Spill Threatens Corals in Eastern Thailand

Authorities are rushing to prevent an oil spill in eastern Thailand from damaging fragile corals, after officials said the leak that began last week was drifting towards more coastal areas.

Oil Spill Reaches Shoreline in Eastern Thailand

Some of the oil that leaked from an underwater pipeline in the Gulf of Thailand washed up on a beach in the country's eastern province of Rayong late on Friday, a senior official said.

Thai Oil Spill Cleanup to Take 5 More Days, Navy Says

An oil spill caused by a leak from an undersea pipeline 20 km (12.4 miles) off Thailand's eastern coast will take at least five more days to clear, its navy said on Thursday.

Thailand's PTT Exploration and Production Taking Over Myanmar Gas Field as Others Exit

Thailand's state oil and gas explorer looks set to take over Myanmar's biggest gas field, as TotalEnergies and Chevron Corp. exit in the wake of last year's coup in the Southeast Asian state.

TotalEnergies Withdraws Completely from Myanmar

Before now, the company's decisions have been to halt all ongoing projects, but to continue to produce gas from the Yadana field, which is essential for supplying electricity to the local Burmese and Thai population.

Oil Flow Resumes in Kirkuk-Ceyhan Pipeline After Blast in Turkey

The flow of crude oil through the Kirkuk-Ceyhan pipeline has resumed, after it was halted on Tuesday due to a blast near the pipeline in the southeastern Turkish province of Kahramanmaras.

Turkish President Says Cost Concerns Force US Rethink on EastMed Gas Pipeline

The United States has pulled its support for a subsea pipeline that would supply natural gas from the eastern Mediterranean to Europe because it makes no economic sense, Turkish President Tayyip Erdogan said.

Kazakh Ex-Leader's In-Laws Leave Key Energy Sector Jobs

Two members of former Kazakh president Nursultan Nazarbayev's extended family have resigned from the leadership of state oil and gas shipping companies.

Indian Oil to Invest $944 Million on Gas Sales Network in Nine New Areas

Indian Oil Corp, the country's top refiner and fuel retailer, aims to invest 70 billion rupees ($944.02 million) to build gas sales network infrastructure, including pipelines.

Global News January 2022

US Oil Pipelines at Half-Capacity, U.S. Natural Gas Production to Increase in 2022, Osaka Gas Plans to Enter India’s City Market, and more.

Oil Slips, But Gains 5% in the Week on Kazakh, Libyan Concerns

Production in Libya has dropped to 729,000 barrels per day from a high of 1.3 million bpd last year, partly due to pipeline maintenance work.

Caspian Pipeline Consortium Says it is Operating Normally

The Caspian Pipeline Consortium, a group which runs Kazakhstan's crude oil blend to export terminals, continues to operate normally amid the state of emergency.

China Oil Demand to Peak by 2030 - CNPC research

China's oil consumption is expected to keep growing for a decade on robust chemical demand, reaching a peak of about 780 million tonnes per year by 2030, a research institute affiliated with China National Petroleum Corp said.

Japan to Auction Oil From National Reserves

Japan's industry ministry said it will auction more than 600,000 barrels, of crude oil from its national reserve as a part of a U.S.-led coordinated release of oil reserve to cool rising prices.

LNG Cargoes Diverted Toward Europe from Asia as Gas Prices Soar

At least ten cargoes of LNG have recently been diverted from Asia to head west drawn by Europe's record high prices amid supply concerns.

Venture Global to Sell LNG to China National Offshore Oil Corp

Venture Global LNG said it has signed a 20-year deal to sell liquid natural gas to a unit of China National Offshore Oil Corp.

Japan's Osaka Gas Plans to Enter India's City Market

Japan's Osaka Gas Co. said it plans to enter India's city gas market as a part of efforts to expand its overseas businesses to drive profit growth.

ConocoPhillips Offloads Indonesia Assets in Asia-Pacific Revamp

ConocoPhillips will quit Indonesia, selling its assets there for $1.355 billion to domestic energy company Medco Energi Internasional, and beef up in Australia as it continues to reshape.

Philippines' Malampaya Gas Project Can be Extended for Several Years -Udenna President

The life of the Philippines' Malampaya natural gas field, which had been projected by the government to run dry by 2027, can be extended for several more years, the president of Udenna Corp. said.