East Asia ///

Oil steadies near two-month high as U.S. drilling slows down

Oil steadied near a two-month high in New York amid a pullback in U.S. drilling activity, while ongoing U.S.-China trade talks left an uncertain outlook for demand.

Oil hits 2-month high as China truce signals brighter outlook

Oil prices climbed to a two-month high as China was said to offer a trillion-dollar buying spree to defuse trade tensions with the world’s biggest economy.

Oil rebound fizzles as Treasury denies U.S. easing China tariffs

Oil’s after-market rebound waned Thursday after the U.S. Treasury Department disputed a report that the Trump administration might ease trade tariffs against China.

CNOOC's Huizhou project starts production in the South China Sea

CNOOC has announced that Huizhou 32-5 oilfield comprehensive adjustment/Huizhou 33-1 oilfield joint development project has commenced production.

Oil resumes rally as stockpiles ween lower, China eyes tax cuts

Oil climbed as investors anticipated another decline in U.S. crude inventories and China promised to slash taxes to avert an economic slowdown.

Russia eyes island storage for Arctic LNG amid China demand boom

Russia’s Novatek PJSC is looking at storing liquefied natural gas produced in the Arctic on Japan’s southern island of Kyushu so it can better meet spot demand from China and cut shipping costs.

Petrofac secures engineering design services contract in Brunei

Petrofac, as technical service provider, and its partner Serikandi Oilfield and Services Sdn Bhd, have secured a multi-annual Engineering Design Services contract to support Brunei Shell Petroleum (BSP) and Brunei LNG (BLNG) in Brunei.

New powerhouse sees plays “taking off” in 2019

Jim Redden, Contributing Editor

As it prepares to set up shop in Oklahoma’s flagship shale plays, Encana Corp. is experiencing a measure of deja vu.

Companies in the news

Michele Cowart, World Oil

ABB has been awarded an integrated automation, electrification and telecommunication project, valued at $79 million, for the upgrade of Bab onshore field in Abu Dhabi, by CPECC.

China eases back on Mideast, African Oil after buying binge

China’s crude oil purchases from the Middle East and West Africa dropped to a four-month low in December, following a buying binge the previous month that saw the Asian country’s stockpiles swell.

Oil climbs to 3-week high as trade talks fuel demand optimism

Oil closed at a three-week high as U.S. negotiators touted progress in trade talks with China and investors gained faith that OPEC will shrink output.

Oil caps longest gain in 17 months on new trade talks, OPEC cut

Oil notched its longest stretch of daily gains in more than 17 months as fresh trade talks between the U.S. and China added to optimism that a global supply glut will be averted.

Oil edges up as traders weigh economic risks against OPEC cuts

Oil ended another topsy-turvy day by closing near a two-week high, as traders weighed signs that OPEC is following through on production cuts against hints of an economic slowdown.

Halliburton President and CEO Jeff Miller appointed as chairman of the board

Halliburton Company has announced its board of directors has appointed Jeff Miller, the company’s president and CEO, as chairman of the board, effective Jan. 1, 2019.

China heads into trade talks bracing for more U.S. demands

China enters trade talks said to begin early next month in Beijing having made concerted efforts to end the standoff with the U.S., and also unsure it’s done enough.

China slips open door for U.S. natural gas as winter hits

China last month imported two tankers of U.S. liquefied natural gas, nudging open a doorway that had been closed shut for a month at a time when America is rapidly expanding its ability to export the heating fuel.

Eni reports Merakes East gas discovery, offshore Indonesia

Eni successfully drilled and tested the Merakes East prospect in East Sepinggan block, offshore Kalimantan, Indonesia.

CNOOC signs strategic cooperation agreements with nine IOCs

CNOOC Limited has announced that its parent company, China National Offshore Oil Corporation (CNOOC), has signed Strategic Cooperation Agreements with 9 international oil companies including: Chevron, ConocoPhillips, Equinor, Husky, KUFPEC, Roc Oil, Shell, SK Innovation and TOTAL (in alphabetical order).

Eni approves the investment plan for Merakes development project in Indonesia

Eni will start with the execution of the Merakes development project in Indonesia following the approval received by the Minister of Energy of Indonesia and the authorization for the investment plan sanctioned by the company’s board of directors.

Wood. reports 2018 pre-close trading update

Our positive trading momentum has continued and our full year results will demonstrate good organic revenue growth.