East Asia ///
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’ 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 and PTT Public Limited Company (PTT) have entered into a sales and purchase agreement for liquefied natural gas.
Petronas will make a voluntary adjustment to Malaysia’s crude oil production as of January, the Kuala Lumpur-based company said Wednesday.
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.
One of the biggest engines soaking up the world’s oil is starting to sputter.
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’ first floating liquefied natural gas (FLNG) facility, PFLNG SATU, achieved the first gas milestone from Kanowit gas field, offshore Sarawak, on Nov. 14.
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 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%.
Indonesia has a new oil and gas strategy
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 Ltd., China’s biggest offshore oil and gas producer, posted a 15% fall in third-quarter sales as output declined with capital spending.
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.