East Asia ///

China trade truce may help give U.S. LNG a $30-billion boost

China’s appetite for U.S. liquefied natural gas may be about to get a lot bigger after the two nations agreed to pull back from the brink of a trade war.

UN panel asks biggest oil traders for North Korea information

A United Nations Security Council panel is asking the world’s biggest oil traders to disclose the actions they are taking to stop the sale of crude oil and petroleum products to North Korea in violation of sanctions.

CNOOC, Husky sign PSCs for exploration blocks in the South China Sea

CNOOC Limited has announced that its parent company, China National Offshore Oil Corporation (CNOOC), has signed two production sharing contracts (PSCs) with Husky Oil Operations (China) Limited for Block 22/11 and 23/07, in the South China Sea.

Rosneft starts drilling offshore production wells in Vietnam

Rosneft Vietnam B.V. has started drillling of LD-3P (Lan Do field) production well as part of Block 06.1 development.

Gas giants swap roles as biggest buyer turns to Australia

The gas market is being flipped upside down.

Qatar steps in to buy Rosneft stake as China deal collapses

Qatar emerged as a major shareholder in Rosneft PJSC on Friday after a $9-billion deal to sell a stake in Russia’s state-run oil producer to China’s troubled CEFC Energy Co. collapsed.

Cash-rich Thai explorer eyes assets worth up to $1 billion

Thailand’s PTT Exploration & Production Pcl is ready to shell out as much as $1 billion on an overseas petroleum asset this year, and possibly more, as it tries to prop up growth amid falling reserves.

OTC '18: Japanese official details country’s LNG role, clarifies nation’s energy mix

At an Offshore Technology Conference (OTC) topical breakfast in Houston on Wednesday, Takuma Iino Deputy Director of the Petroleum and Natural Gas Division at Japan's Ministry of Economy, Trade, and Industry, said that LNG has become even more important in the country’s energy mix.

Santos announces sale of non-core Asian assets

Santos today announced the sale of its non-core Asian portfolio to Ophir Energy plc (Ophir) for $221 million.

Oil steadies amid Korean peace pledge, threat of Iran sanctions

Oil traded near $68 as investors weighed the impact of a possible U.S. pull-out from the Iran nuclear deal and the potential for a historic accord between the leaders of North and South Korea.

CEFC China may cut half its workers, but Rosneft deal still alive

CEFC China Energy Co. may cut half of its 30,000-strong workforce as the sprawling conglomerate faces increased financial pressures and scrutiny from Beijing, said an official at one of its units.

Trump trade war spurs India to import more oil, drones from U.S.

India is seeking more oil, drones and aircraft from the U.S. to help narrow its $28-billion trade surplus amid rising concerns of possible collateral damage to its economy from President Donald Trump’s trade spat with China.

Rystad Energy: China’s promise to cut tariffs, open economy allows U.S. producers to breathe easier

During his speech Tuesday at the Boao Forum, Chinese President Xi Jinping gave reassuring words to help calm tariff tensions with the U.S. Xi’s commitment to cut tariffs and open the economy could be a first step in drawing more interest from foreign investment.

What’s new in production

Don Francis, Contributing Editor

The Great East Japan Earthquake and MH 21.

China gas giant "confident" U.S. energy ties set to deepen

The head of China’s largest natural gas importer believes the country’s energy ties with the U.S. are set to deepen, despite trade conflict between the world’s two largest economies that has roiled financial markets.

Oil rises after Xi's speech on optimism U.S.-China spat may ease

Oil advanced above $64/bbl after Chinese President Xi Jinping’s conciliatory tone in a closely watched speech raised hopes that U.S.-China trade tensions may ease, lifting risk assets around the world.

Rystad Energy: U.S. oilfield services have more to lose than Chinese peers amid trade tensions

U.S. and Chinese based oil & gas steel fabricators have been some of the first companies within the industry to be impacted by the countries playing high-stakes poker through targeted tariffs, Rystad Energy research shows.

Oil extends weekly loss as Trump urges new U.S. tariffs on China

Oil extended a weekly loss as U.S. President Donald Trump ordered the consideration of new tariffs on Chinese imports, escalating trade tensions.

Top Vietnam oil company says sea tensions hurt investment

Vietnam’s state-owned oil company said South China Sea tensions will hurt oil and gas exploration and efforts to attract foreign investment to offshore fields.

Mubadala Petroleum reaches FID for Pegaga gas field, offshore Malaysia

Mubadala Petroleum and its partners PETRONAS Carigali Sdn Bhd (PETRONAS Carigali) and Sarawak Shell Berhad have reached the Final Investment Decision for the Pegaga gas field development in Block SK 320, offshore Malaysia. The project will now proceed to the construction and installation stage.