East Asia ///

Trump orders sanctions on companies dealing with North Korea

President Donald Trump Thursday ordered new sanctions on individuals, companies and banks doing business with North Korea as the U.S. increases pressure on Pyongyang for its weapons programs.

CNOOC accelerates Green Dragon's asset development via supplementary agreements

Green Dragon Gas Ltd. has announced that it has finalized a memorandum of understanding (MOU) on five production sharing contracts (PSC) and two supplementary agreements with China United Coalbed Methane Corporation (CUCBM).

Petro Matad announces postponed drilling campaign in Mongolia, CEO search

Petro Matad, the AIM quoted Mongolian oil explorer has provided an operational update.

North Korea may copy Nazi Germany if total oil ban takes effect

As the U.S. and its allies look to impose even stricter measures against North Korea, leader Kim Jong Un could find inspiration from oppressive regimes of yesteryear in Nazi Germany and Apartheid-era South Africa.

Sonoro Energy reports arrival of drilling rig in West Sulawesi, Indonesia

Sonoro Energy has announced that the drilling rig from PT Advanced Services Indonesia (ASI) has mobilized from Balikpapan, sailed across the Makassar Strait, and is now moored and being unloaded in the Indonesian province of West Sulawesi.

Wood Group secures subsea contract supporting CNOOC in the South China Sea

Wood Group has been awarded a new contract by China National Offshore Oil Corporation (CNOOC) to support their Lingshui 17-2 gas development in the Qiongdongnan basin of the South China Sea.

Collaboration delivers LWD triple-combo breakthrough for ultra-high-temperature wells

Steven Wacher, Zach Crosby, Tommy L. Binford Jr., Weatherford

As exploration efforts go into deeper, hotter and more remote offshore basins, the need for more advanced downhole drilling and logging tools is palpable. Accordingly, a new LWD toolstring that provides real-time downhole data, while withstanding 410°F temperatures, has been developed and tested in the harsh Gulf of Thailand.

CNPC, Eni sign E&P cooperation agreement

China National Petroleum Corporation (CNPC) and Eni signed cooperation agreement in order to cooperate in oil & gas exploration and production, gas and LNG value chain opportunities, trading and logistics opportunities, refining and petrochemicals.

OPEC increases global oil demand forecasts on Europe, China

OPEC raised estimates for the amount of crude it will need to supply next year amid a stronger outlook for global oil demand.

UN sanctions to cut North Korea's fuel imports as crude keeps flowing

New United Nations sanctions on North Korea will cut imports of fuels such as gasoline and diesel by almost 56% while capping shipments of crude at current levels, according to the U.S.

U.S. said to water down North Korea sanctions before vote

The U.S. has watered down a proposal to punish North Korea for its sixth and most powerful nuclear test, omitting an oil embargo and a freeze of Kim Jong Un’s assets, according to a European diplomat.

China oil investors shrug off future fossil-fuel vehicle ban

The prospect of China banning fossil fuel-powered vehicles is failing to alarm investors in the oil producers likely to lose out.

China deepens oil ties with Russia in $9-billion Rosneft deal

A closely-held Chinese oil company agreed to buy a minority stake in Rosneft PJSC for about $9 billion, deepening energy and political ties with Russia amid increasing tensions with the U.S.

LNG glut may flip to deficit as Cheniere sees China growth

The global glut plaguing liquefied natural gas markets may start to dwindle in five years, threatening to spur a deficit equivalent to twice the output of leading producer Qatar.

Gazprom, Mitsui ink framework agreement on small- and mid-scale LNG in Japan

A working meeting between Alexey Miller, chairman of the Gazprom Management Committee, and Masami Iijima, chairman of the board of directors of Mitsui & Co., Ltd., took place at the Eastern Economic Forum 2017 in Vladivostok.

U.S. said to seek ban at UN on crude oil to North Korea

The U.S. is circulating a draft resolution at the United Nations that would bar crude oil shipments to North Korea, ban the nation’s exports of textiles and prohibit employment of its guest workers by other countries, according to a diplomat at the world body.

Xodus advises Japan on decommissioning trends

Xodus Group has delivered a decommissioning ‘trend survey’ to JOGMEC (Japan Oil & Gas and Metals National Corporation) to provide Japanese oil and gas companies with a better understanding of the decommissioning process and how to manage their global asset and abandonment liabilities.

CNOOC signs PSC with SK Innovation Co. for Pearl River Mouth basin block

CNOOC Limited has announced that its parent company, China National Offshore Oil Corporation (CNOOC), has signed production sharing contract (PSC) with SK Innovation Co., Ltd. (SK) for Block 17/08 in the South China Sea.

Trump's sanction threat puts Chinese banks, oil giants on notice

President Donald Trump’s rhetoric about imposing widespread sanctions on China for propping up North Korea’s economy may put pressure on some of its banks and oil companies.

China's oil lifeline to North Korea targeted after nuclear blast

Even before North Korea detonated its most powerful nuclear bomb yet, Japan was calling for moves to cut off its oil supply.