Far East ///

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.

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.

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.

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.

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.

China Merchants Group said to explore offshore rig deals

State-owned conglomerate China Merchants Group is exploring acquisitions of offshore rig operators, which have struggled to recover from a collapse in oil-industry spending, people with knowledge of the matter said.

PetroChina rewards investors with full profit payout on crude oil rise

PetroChina plans to pay out its entire half-year net income to shareholders as the country’s biggest oil and gas producer benefited from higher global crude prices.

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.