Asia/Pacific

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.

U.S. Says Allies 'Reassured' LNG Pause Does Not Affect Current Exports

U.S. allies concerned about steady supplies of LNG are reassured when they understand President Joe Biden's pause on LNG export approvals does not affect currently permitted shipments, a U.S. State Department official said on Monday.

Indonesia and Eni Partner on Decarbonization Initiatives

Indonesia's Energy and Mineral Resources Ministry said on Friday it had signed a memorandum of understanding with Italian energy group Eni to accelerate its decarbonization programs.

QatarEnergy Signs 10-Year Condensate Supply Deal with Japan's Mitsui

QatarEnergy has signed a deal to supply Japan's Mitsui & Co. with 11 million barrels of condensate per year for 10 years starting in April, Qatar's state-owned energy company said on Sunday.

TotalEnergies to Acquire OMV's Malaysian Gas Assets for $903 Million

TotalEnergies has entered into an agreement with OMV for the acquisition of OMV's 50% interest in SapuraOMV Upstream Sdn, a Malaysian independent gas producer and operator.

Poland's Gaz-System Chooses Mitsui O.S.K. Lines for LNG Regasification Unit

Polish pipeline operator Gaz-System has chosen Japan's Mitsui O.S.K. Lines to supply a floating storage and regasification unit (FSRU), it said on Thursday.

Santos Amends PNG Stake Sale Terms with Papua New Guinea's Kumul Petroleum

Oil and gas giant Santos said on Thursday it had amended the terms of sale of its 2.6% stake in PNG LNG project to Kumul Petroleum, allowing the Papua New Guinea state-owned firm additional time to pay the purchase price.

India Offers LNG Supply to Sri Lanka for Power Plants

India has proposed to supply LNG to Sri Lanka to help the island nation produce power from its Yughadhanavi and Sobhadabavi power plants, Sri Lanka's Energy Minister said on Thursday.

Global News February 2024

Latest industry developments from around the world!

AG&P LNG Plans 6 South and Southeast Asian Terminals in Next 2 Years

Atlantic Gulf & Pacific Company (AG&P) LNG aims to make a final investment decision (FID) and start developing six liquefied natural gas terminals in South and Southeast Asia within the next one-to-two years, the company's chief executive said.

Saudi Aramco's Capacity Cut and Pipeline Incident Trigger 11% Drop in Saipem Shares

Shares in Italian energy contractor Saipem plunged by 11% on Tuesday after damage caused by an incident involving one of its pipe-laying vessels and a decision by Saudi Aramco to drop its oil capacity expansion plans.

ADNOC Gas Inks 10-Year LNG Supply Deal with India's GAIL

ADNOC Gas on Tuesday signed a 10-year agreement to supply 0.5 million metric tons per year of LNG to India's largest natural gas company GAIL.

Russia’s Planned Gas Pipeline to China Faces Construction Delay

Mongolian Prime Minister L. Oyun-Erdene said construction of Russia's planned new Power of Siberia-2 gas pipeline to China, which was expected to start this year, may be delayed.

India Approves $1.02 Billion in Incentives for Coal Gasification

India's cabinet on Wednesday approved plans to provide incentives worth $1.02 billion for projects to convert coal into gas, the coal and mines minister said, as it seeks to reduce its reliance on imported fuel.

Japan's 2023 Preliminary LNG Imports Down 8% to Lowest in 14 Years

Japan's LNG imports fell by 8% to 66.2 million metric tons last year to the lowest since 2009, preliminary data from the Ministry of Finance showed, following nuclear power restarts and increased use of renewable energy.

Saudi's SABIC Gives Go-Ahead for $6.4 Billion Petrochemical Plant in China

Saudi Basic Industries Corp. (SABIC) will go ahead with building a petrochemical complex in southeastern China's Fujian province, the company said in an exchange filing on Sunday, shoring up Saudi ties with China, the world's top oil importer.

Global Pipeline Construction Outlook 2024: New LNG Terminals Sound Beckon Call for More Pipelines

(P&GJ) — It comes as little surprise to those in midstream that during the past year we have continued to see LNG initiatives garner more attention than pipeline projects. However, terminal construction drives new pipeline construction.

Qatar Set to Sign Cheaper Long-Term LNG Deal with India

Qatar Energy within weeks could sign a long-term deal to provide LNG to Indian buyers on cheaper and more flexible terms than existing contracts, trade sources said, as India seeks to meet a goal to increase the fuel's use.

Inpex Expedites $20 Billion Abadi LNG Project Development in Indonesia

Inpex Corp., Japan's top oil and gas explorer, is set to accelerate development of its $20 billion Abadi Indonesian LNG project, with the aim of starting operations as soon as late this decade, its CEO said on Thursday.

Sinopec Unveils Massive 133 Bcm Certified Tight Gas Reserves in Sichuan Basin

China's Sinopec Corp. said on Wednesday that the Chinese government had recently certified 133 billion cubic meters of proven geological reserves of natural gas in its operation in southwest Sichuan basin.

China's 2023 Crude Oil Imports Hit Record as Fuel Demand Recovers

China's annual crude oil imports hit an all-time high in 2023, customs data showed on Friday, as fuel demand recovered from a pandemic-induced slump despite economic headwinds.

Tokyo Gas Anticipates Completion of Australian LNG Asset Sale in Late February

Japan's biggest city gas provider, Tokyo Gas, said on Thursday it expects to close the planned sale of its stakes in a portfolio of four Australian liquefied natural gas (LNG) projects at the end of February.

Surging Freight Rates Close the Door on U.S. Crude Oil Shipments to Asia

The economic incentive to import oil from the U.S. Gulf Coast to Asia has closed as the cost of booking supertankers on the route has surged amid a jump in bookings for the vessels, traders said this week.

Saudi Arabia Tries to Thread the Needle Between Crude Output, Prices

Saudi Aramco's decision to cut the price of its crude for Asian customers shows just how difficult it is for the world's largest oil exporter to walk the line between maintaining market share and restraining output enough to bolster prices.

Iran's Oil Trade with China Stalls as Tehran Demands Higher Prices

China's oil trade with Iran has stalled as Tehran withholds shipments and demands higher prices from its top client, tightening cheap supply for the world's biggest crude importer, refinery and trade sources said.