Far East ///

Sanctions hurt North Korea, but oil cut needed for knock out

For North Korea’s fledgling economy, the latest round of sanctions will cut deep.

China gas sellers sidestep state giants to ride demand surge

China’s independent energy firms are seeking to circumvent its state-backed giants as they cash in on swelling natural gas use, buoyed by President Xi Jinping’s drive for cleaner fuels and nimbler companies.

China drafts new rules easing state oil majors' grip on storage

Beijing on Wednesday issued a draft of new regulations for China's growing oil and fuel storage industry, helping loosen the state-owned oil majors' grip on the sector as the nation pushes to reform its vast energy markets.

China sets sights on oil benchmark after years of delays

China has opened more than 6,000 trading accounts for its long-awaited crude futures contract - with three-quarters coming from individual traders - as it pushes ahead with plans to compete with global pricing benchmarks.

Petro Matad inks drilling contract with Sinopec in Mongolia

Petro Matad, the AIM quoted Mongolian oil explorer announces that further to the press release on May 31, 2017, a comprehensive drilling contract has now been signed with Sinopec International Petroleum Service Mongolia Co. Ltd. (Sinopec) and that the initial drilling targets have been selected.

World's costliest natural gas clouding China's quest for bluer skies

China has promised to make its skies blue again, but having some of the world’s most-expensive natural gas isn’t helping.

Empyrean Energy commences 3D seismic survey offshore China

Empyrean Energy plc, the oil and gas development company with interests in China, Indonesia and the United States, is pleased to announce that a 3D seismic survey has commenced on its 100% owned Block 29/11, offshore China.

CNOOC commissions compressor trains for DONGFANG 13-2 gas fields in South China Sea

CNOOC China Limited Zhanjiang Branch has commissioned MAN Diesel & Turbo to supply a total of six compressor trains for the DONGFANG 13-2 Gas Fields Development Project in the South China Sea.

China eyes U.S. energy next after $20-billion `Belt, Road' deals

China is setting it sights on U.S. energy as a growing reliance on imports forces it to look beyond traditional suppliers, according to the head of the country’s biggest oil and gas company.

Trump's China deal boosts U.S. LNG without rule change

America’s shale gas could soon head to China under long-term contracts for the first time, bolstered by a new trade deal that may not even change existing rules.

Asian investment could return to U.S. tight oil, Wood Mackenzie says

In a recent report Wood Mackenzie highlighted how the absence of major Asian companies from the U.S. tight oil boom could change.

AOGC 2017 kicks off in Kuala Lumpur, as oil and gas industry embraces new reality

The 19th edition of the Asia Oil & Gas Conference (AOGC 2017) started today in Kuala Lumpur, where more than 1,300 delegates have converged at the Kuala Lumpur Convention Centre to discuss issues and gain invaluable insights on the new reality of the oil and gas industry.

China's oil giants buoyed by higher prices as output stagnates

Oil’s recovery is helping ease the pain of shrinking output by China’s biggest energy producers.

Russia reemerges as China's top oil supplier

Russia retook the top spot from Saudi Arabia in crude supplies to China last month as OPEC producers are flirting with the possibility of extending a deal to curb production.

Brunei Shell Petroleum recognized for 50 years of service with Sikorsky helicopters

Sikorsky today recognized Brunei Shell Petroleum (BSP) for 50 years of continuous service with Sikorsky helicopters. The recognition event took place at the inaugural 2017 Rotorcraft Asia show. Sikorsky is a Lockheed Martin company.

Daewoo Shipbuilding's bailout plan cleared by pension fund

Daewoo Shipbuilding & Marine Engineering Co., the world’s largest shipbuilder, and a major drilling rig builder, won a reprieve from major bondholder National Pension Service and other lenders, helping avert a payment crisis that had threatened to almost shut the company.

CNOOC signs PSC with Husky Oil for Block 16/25 in South China Sea

CNOOC Limited has announced that its parent company, China National Offshore Oil Corporation (CNOOC), has signed production sharing contract (PSC) with Husky Oil Operations Limited for Block 16/25 in the South China Sea.

Gazprom builds 15 exploratory, development wells in Bangladesh in four years

A working meeting between Alexey Miller, chairman of the Gazprom Management Committee, and Abul Hassan Mahmood Ali, minister of foreign affairs of the People’s Republic of Bangladesh, took place in Moscow. The parties expressed their appreciation for the Company’s efforts in Bangladesh.

China takes crude crown as output lags behind rising demand

China’s record oil imports in March helped it top the U.S. as the world’s biggest buyer during the first quarter.

OriginClear announces pilot program for Sinopec shale gas site in China

OriginClear Inc. has announced it is entering into a partnership with a regional organization in the Chinese province of Shandong for remediation of a shale gas site operated by the government-owned Sinopec Group, Asia's largest oil and gas company.