East Asia ///

Saudis said to cut oil to China, South Asia as others spared

Saudi Arabia was said to cut February crude sales to China and southern Asian nations, while largely sparing countries including Japan and South Korea, as it curbs supply as part of a deal between OPEC and other producers.

Petronas' PFLNG SATU reaches first gas milestone, offshore Sarawak

PETRONAS’ first floating liquefied natural gas facility, PFLNG SATU moored by SOFEC, Inc.’s external turret has achieved an industry breakthrough with the successful production of its first drop of LNG from Kanowit gas field, offshore Sarawak on Dec. 5, 2016.

BP, PTT sign LNG sale and purchase agreement

BP and PTT Public Limited Company (PTT) have entered into a sales and purchase agreement for liquefied natural gas.

Petronas reports 20,000 bopd production cut as of January

Petronas will make a voluntary adjustment to Malaysia’s crude oil production as of January, the Kuala Lumpur-based company said Wednesday.

PFLNG Satu produces first LNG offshore Sarawak

Petronas’ first floating liquefied natural gas facility, PFLNG SATU, achieved an industry breakthrough on Dec. 5 with the successful production of its first drop of LNG from Kanowit gas field, offshore Sarawak.

China’s drag on oil prices that OPEC’s cuts can’t alleviate

One of the biggest engines soaking up the world’s oil is starting to sputter.

Indonesia's expiring production licenses valued at $10 billion

In a recent report, Indonesia’s expiring PSCs: $10 billion of potential upstream value, Wood Mackenzie valued Indonesia's expiring oil and gas production licenses or production sharing contracts (PSCs) at close to $10 billion.

Petronas achieves first gas from inaugural FLNG facility

Petronas’ first floating liquefied natural gas (FLNG) facility, PFLNG SATU, achieved the first gas milestone from Kanowit gas field, offshore Sarawak, on Nov. 14.

Next generation keen to step up as IPTC came to a close in Bangkok

The 10th International Petroleum Technology Conference (IPTC) came to a close in Bangkok today with an attendance of over 3,700 industry professionals from 51 countries.

Vallourec closes on acquisition of Tianda Oil Pipe

Vallourec has announced that it has closed on the acquisition of a majority stake (50.61%) in the Chinese company, Anhui Tianda Oil Pipe Company Limited (TOP) and thereby increased its total stake to 70.07%.

Oil and gas in the capitals

Jeff Moore, Contributing Editor

Indonesia has a new oil and gas strategy

Big Three’s shrinking in China has more to go as spending lags

China’s oil output slump shows no signs of abating as the country’s state-run energy giants hold back spending to cope with the crash in prices.

Cnooc quarterly sales drop 15% as output falls with spending

Cnooc Ltd., China’s biggest offshore oil and gas producer, posted a 15% fall in third-quarter sales as output declined with capital spending.

Saudis said to boost oil sales to China as pricing lures buyers

Saudi Arabia, which is marshaling a potential deal with global crude producers to limit output, is said to have lifted sales to the world’s second biggest oil consumer after cutting the pricing for its supply.

Trelleborg completes supply of floatover equipment for Malaysian project

Trelleborg’s engineered products operation has successfully completed its supply of floatover equipment for the PETRONAS NC3 gas field, located in Block SK316, 200 km North of Bintulu, Sarawak in Malaysia.

Technip awarded subsea contract in Malaysia

Technip has been awarded a subsea contract by PETRONAS Carigali Sdn Bhd, (wholly owned subsidiary of PETRONAS), for the Samarang Redevelopment Project Phase 2 EOR, in Malaysia.

China crude imports rise to record high as storage expanded

China’s crude imports rose to a record as a new strategic reserve site became operational and refineries prepare to process more oil. Net oil product exports also rose near a record.

Chevron said to seek $2 billion in sale of Bangladesh assets

Chevron Corp., the U.S. oil producer divesting assets to counter an energy-price slump, is seeking about $2 billion from a sale of natural gas assets in Bangladesh, according to people familiar with the matter.

China oil output rebound seen unlikely until prices top $60

Oil may need to rally further before China’s producers make enough money to reverse a drop in output to the lowest in more than six years.

Lamprell delivers jackup rig to be deployed offshore Thailand

Lamprell (LAM), a provider of fabrication, engineering and contracting services to the energy industry, has announced the completion of construction of the Shelf Chaopraya jackup drilling rig, and its delivery to Shelf Drilling Ltd. The rig will sail within the next few days for deployment by Shelf Drilling at its drilling location, offshore Thailand.