East Asia ///

Petronas to hand over Blocks 01, 02 in Vietnam's Cuu Long basin

Petronas' subsidiary PC Vietnam Limited (PCVL) will hand over Blocks 01 and 02, located at the Cuu Long basin, offshore Vietnam, to the host authority once the Production Sharing Contract (PSC) for the blocks expires on Sept. 9, 2017.

If Petronas can't beat U.S. LNG suppliers, it may join them

Malaysia’s Petroliam Nasional Bhd has pulled the plug on its $27-billion plan to ship liquefied natural gas from Canada’s west coast to Asia, losing out to U.S. suppliers who got to market first. Well, if it can’t beat them, it may still join them.

China backs joint energy development with Philippines in disputed sea

China's foreign minister on Tuesday said he supported the idea of joint energy ventures with the Philippines in the disputed South China Sea, warning that unilateral action could cause problems and damage both sides.

Proserv secures series of decommissioning contracts in Asia-Pacific

Energy services company Proserv has been awarded a series of contracts worth around $4 million for its well severance, platform and FPSO decommissioning services in the Asia-Pacific region.

The Philippines shortlists six countries for $2-billion LNG hub

The Philippines has shortlisted six countries and will choose one from them as a partner for its planned $2-billion receiving and distribution facility for imported LNG, an official from the state-run energy firm PNOC said on Thursday.

China drafts new rules easing state oil majors' grip on storage

Beijing on Wednesday issued a draft of new regulations for China's growing oil and fuel storage industry, helping loosen the state-owned oil majors' grip on the sector as the nation pushes to reform its vast energy markets.

Vietnam plans oil reserves equivalent of 90 days of imports by 2020

Vietnam's prime minister has approved a plan for the country's total crude oil and oil product stocks to be at least 90 days' worth of net imports by 2020.

Ethos Energy awarded multi-million-dollar contract by Brunei Shell Petroleum

Ethos Energy has been awarded a multi-million-dollar, five-year maintenance service agreement by Brunei Shell Petroleum for the provision of engineers and improvement of compressor packages on the Champion 7 offshore platform in the South China Sea, off the coast of Brunei.

Japan's Tokyo Gas pushes to revise LNG supply contracts

Japan's Tokyo Gas, the biggest city-gas supplier in the world's largest importer of liquefied natural gas (LNG), is in talks to renew supply contracts and will push to revise terms to get more flexibility and cut prices, a senior official said on Thursday.

Philippine official says drilling for oil in disputed sea may resume this year

Drilling for oil and natural gas on the Reed Bank in the South China Sea may resume before the end of the year, a Philippine energy official said on Wednesday, as the government prepares to offer new blocks to investors in bidding in December.

China sets sights on oil benchmark after years of delays

China has opened more than 6,000 trading accounts for its long-awaited crude futures contract - with three-quarters coming from individual traders - as it pushes ahead with plans to compete with global pricing benchmarks.

Japan to raise crude storage capacity for Saudi Aramco in Okinawa

The Japanese government is preparing to raise the crude storage capacity that it lends to state-owned Saudi Aramco by 1.9 MMbbl (300,000 kilolitres) this summer, the trade ministry said on Friday.

Maersk Convincer takes over contract from Maersk Completer

Jack-up Maersk Convincer, currently finalizing its five-yearly Special Period Survey (SPS) yard stay in Singapore, will be taking over a contract from its sister rig, the Maersk Completer, currently operating offshore Brunei.

Rosneft eyes Chinese gas market after Beijing Gas deal

Russia's largest oil producer Rosneft said on Thursday it was targeting China's gas market after completing a $1.1-billion deal to sell 20% of its subsidiary Verkhnechyonskneftegaz (VChNG) to Beijing Gas.

South Korea's SK Group signs MOU with GE to jointly develop U.S. shale gas

South Korean energy conglomerate SK Group signed a memorandum of understanding (MOU) with General Electric on Thursday to jointly develop U.S. shale gas fields in a bid to expand in the U.S. shale gas sector.

Cheniere's LNG market share expands as Korea contract begins

Add South Korea to the growing list of regulars buying America’s shale gas.

Petro Matad receives approval of exploration period extention in Mongolia

Petro Matad, the Mongolia focussed oil exploration and future development and production company is pleased to advise that the Mongolian regulatory body (MRPAM) has formally approved an extension of the exploration period for the Block IV and V Production Sharing Contracts, for two years each, until July 29, 2019.

Honeywell invests in cyber security innovation center in Asia-Pacific

Honeywell Process Solutions (HPS), with the support of the Singapore Economic Development Board (EDB), will establish a new industrial cyber security center of excellence (COE) for Asia-Pacific in Singapore

Empyrean Energy commences 3D seismic survey offshore China

Empyrean Energy plc, the oil and gas development company with interests in China, Indonesia and the United States, is pleased to announce that a 3D seismic survey has commenced on its 100% owned Block 29/11, offshore China.

Aramco raises crude pricing to U.S. and Asia on increased demand

Saudi Arabia, the world’s largest oil exporter, raised pricing for July sales of all crude grades to Asia, the U.S. and Northwest Europe as it seeks to take advantage of increased demand after suppliers extended production cuts to help curb a global glut.