East Asia ///

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.

TechnipFMC awarded subsea contract for Liuhua fields, offshore China

TechnipFMC has been awarded a subsea contract by CNOOC Limited for the Liuhua 16-2, 20-2 and 21-2 Oilfield Joint Development Project in the South China Sea.

Petrofac secures project support, engineering services contract with Husky Oil in China

Petrofac’s Engineering & Production Services (EPS) East division has secured a project support and engineering services contract with Husky Oil China Ltd. (HOCL). The three-year contract is in support of HOCL’s Liuhua 29-1 gas field development project located offshore at the Pearl River Mouth basin.

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.