East Asia ///

Petro Matad spuds Snow Leopard-1 well in Mongolia

Petro Matad, the AIM quoted Mongolian oil explorer, has advised that the Snow Leopard-1 well (Petro Matad 100%) in the Taats basin of Block V spudded on July 9, 2018.

EIA: China is a key destination for increasing U.S. energy exports

In recent years, as its domestic energy consumption has grown, China has become a more significant destination for U.S. energy exports. In particular, China has been among the largest importers of U.S. exports of crude oil, propane, and liquefied natural gas.

Companies in the news

Michele Cowart, World Oil

Akofs Offshore has been awarded a contract for light well intervention services, using its 156-m vessel, Akofs Seafarer, for all Equinor-operated licenses, in the period 2020 to 2025.

U.S. oil sellers may look to India as tariff war with China escalates

American oil producers may find a new friend in India as they brace for a trade war with China that could curb U.S. shipments.

Steel tariffs: A campaign promise the oil industry hoped Trump would not keep

David Blackmon, Contributing Editor

On March 1, U.S. President Donald Trump announced 25% tariffs on imported steel and aluminum. The E&P industry is telling Congress and the administration that this is a bad idea. The real question is “Why Was Anyone Surprised?”

Sumitomo Corporation invests in Texas oil production

Sumitomo Corporation's Representative Director, President and CEO, Masayuki Hyodo, is pleased to announce that subsidiary company, Summit Discovery Resources II LLC has reached an agreement with IOG Gonzales 1835 LLC, an entity managed by IOG Capital, LP, Covington Equity Investments LLC and 1836 Resources, LLC to acquire certain producing Eagle Ford properties in South Texas.

Law firm WFW advises OMV on €158 million disposal of Pakistani subsidiaries

Watson Farley & Williams (“WFW”) has advised OMV on the completion of its sale of two wholly-owned subsidiaries comprising its upstream exploration and production business in Pakistan (“OMV Pakistan”) to Dragon Prime Hong Kong Ltd., Hong Kong, for an agreed consideration of €158 million.

Gazprom and PetroVietnam hold talks on joint ventures, future growth

A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Tran Sy Thanh, chairman of the board of directors of Vietnam Oil and Gas Group (PetroVietnam), took place in Moscow.

CNOOC signs production sharing agreement with Roc Oil and Smart Oil

CNOOC Limited announced today that its parent company, China National Offshore Oil Corporation, has signed a production sharing contract with Roc Oil (Bohai) Company and Smart Oil Investment Ltd. for Weizhou 10-3W oilfield and Block 22/04 in the South China Sea.

State Department asks Asia to open energy trade in midst of tariff fight

A U.S. State Department official called on Asia’s energy sector to open its doors to outside competition, even as tensions between Washington and Beijing escalate.

IEA: The gas industry's future looks bright over next five years

Strong demand growth from China, greater industrial demand, and rising supplies from the United States, will transform global natural gas markets over the next five years according to the International Energy Agency's latest market forecast.

China trade fight puts billions in U.S. energy projects in doubt

China Energy Investment Corp. pledged almost $84 billion in shale gas and chemical manufacturing projects across West Virginia after President Donald Trump’s trade mission to Beijing in November, but when it came time to discuss details officials were a no-show.

Trump trade spat muddies a U.S. gas exporter's talks with Asia

The Trump administration’s trade dispute with China is delaying one U.S. company’s bid to sign long-term natural gas export deals.

U.S. asks Japan to halt purchase of Iran oil in harder stance

The U.S. has asked Japan to completely halt oil imports from Iran, going beyond the reductions that were demanded when sanctions were imposed earlier this decade, according to people with knowledge of the matter.

Shell completes sale of stake in Thailand’s Bongkot field

Shell has announced that its affiliates, Shell Integrated Gas Thailand Pte Ltd. and Thai Energy Company Ltd., have completed the sale of their 22.2222% interest in Bongkot field and adjoining acreage offshore Thailand.

Shell sells equity in Malaysia LNG Tiga for $750 million

Shell completes Malaysia LNG Tiga equity sale Shell Gas Holdings (Malaysia) Limited, a subsidiary of Royal Dutch Shell plc, announced today that it has completed the sale of its 15% shareholding in Malaysia LNG Tiga Sdn Bhd (MLNG Tiga) to the Sarawak State Financial Secretary (SFS) for an agreed consideration of $750 million.

Empyrean Energy completes oil migration study offshore China

Empyrean Energy, the oil and gas development company with interests in China, Indonesia and the U.S., has announced that a comprehensive oil migration study encompassing China's Block 29/11, for which it holds 100% exploration rights, has now been completed and has established potential oil migration pathways into the Jade, Topaz and Pearl prospects.

U.S. oil exports, on the rise to China, face trade spat threat

China has been a key recipient of American oil since a 40-year U.S. ban on exports was ended by then-President Barack Obama in 2015.

China and India want to buy more U.S. oil to counter OPEC

Two of Asia’s largest crude buyers are considering teaming up to buy U.S. supplies and counter OPEC’s dominance in the world’s biggest oil market.

The natural gas market in 2017

Armelle Lecarpentier, CEDIGAZ

In 2017, global natural gas demand’s above-average growth reshaped market fundamentals and  prevented the development of a global natural gas bubble. Meanwhile, global natural gas consumption doubled its 2016 growth rate, and it was well ahead of the previous five-year trend.