East Asia ///
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’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 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’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 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.
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 (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.
CNOOC’s Enping 18-1 oil field, which lies in the Pearl River Mouth basin of the South China Sea and has an average water depth of approximately 90 m, has commenced production.
Mubadala Petroleum, Operator of the Manora Oil Development joint venture, has advised that drilling of the MNA-17 well, in the Northern Gulf of Thailand, has now been completed.
GE Oil & Gas has been awarded a contract to supply gas turbine-driven compressors for a third natural gas liquefaction train for the Tangguh expansion having provided the original equipment for Trains 1 and 2 when the plant was first established.
Ophir Energy, a UK-based independent, has commenced commercial production from Kerendan field in Indonesia.
CNOOC’s Weizhou 6-9/6-10 comprehensive adjustment project has commenced production, the company said Monday.
OPEC’s biggest producers are playing second fiddle to smaller suppliers in a coveted corner of the oil market.
As the world’s biggest crude producers stop short of taking action to address the global oversupply, output cuts by their largest customers are helping to mop up the glut.
BP has signed a second production sharing contract (PSC) for shale gas exploration, development and production with China National Petroleum Corporation (CNPC).
BEIJING (Bloomberg) -- China’s got the world puzzling over its oil hoard. From underground caverns by the Yellow Sea to a scattering of islands in the Yangtze River delta, the government has been stockpiling crude for emergencies in a network of storage sites dotted around the country.
China’s biggest oil company wants natural gas to account for half its output by the end of the decade.
After posting their worst-ever half-year results, two of China’s oil giants aren’t getting carried away by crude’s return to a bull market, forecasting a rocky path ahead.
Sparrows Group is set to expand its presence in the Asian Pacific market following the formation of a partnership between Sparrows Offshore Services Pte Ltd and SapuraKencana Technology Sdn Bhd, the latter being a wholly owned subsidiary of SapuraKencana Petroleum Berhad.
Petroliam Nasional Bhd., Malaysia’s state oil company, said profit dropped 96% last quarter after it was hit by oil prices that remained sharply lower than a year earlier.