Asia/Pacific

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.

PetroVietnam Power Secures $300 Million from Citibank, ING for LNG Plants Development

PetroVietnam Power said on Monday it has signed an agreement for a $300 million short-term loan from Citibank and ING to fund its projects to develop Vietnam's first two LNG power plants.

TotalEnergies Delays Final Investment Decision for Papua LNG Project to 2025

French oil and gas giant TotalEnergies on Monday said a planned new LNG project in Papua New Guinea would require 'more work' before a final investment decision could be reached.

Mitsui OSK Starts FSRU Operations for Indonesia Gas-Fired Power Plant

Japan's Mitsui O.S.K. Lines Ltd. (MOL) has started commercial operations of its floating storage and regasification unit (FSRU) to supply LNG to a power plant in West Java, Indonesia, the company said on Friday.

BASF Signs 15-Year Gas Supply Deal with China's ENN

German chemicals giant BASF said on Friday it had agreed to buy natural gas from Chinese gas company ENN Energy Holdings under a 15-year supply contract.