Thai oil and gas giant PTT Exploration and Production Pcl said on Monday it would take over operations of the Yadana gas field in Myanmar from July following the exit of France's TotalEnergies.Oil majors Chevron and TotalEnergies in January…
International Energy Agency (IEA) chief Fatih Birol on Monday urged oil-producing countries to pump more to stabilize markets affected by the war in Ukraine.After an initial release of 62 million barrels, the IEA would make further releases if 'conditions stay or worsen'…
Exports of Malaysia's flagship Kimanis crude oil are set to fall to six cargoes in May, down two from April, due to maintenance at oilfields offshore Sabah, a preliminary loading schedule showed on Friday.Shell, the operator of the oilfields that produce Kimanis…
Offshore services firm McDermott International said Thursday it had recently completed work under its first subsea, engineering, procurement, construction and installation (EPCI) contract with Australia's oil and gas firm Santos for the Bayu-Undan Infill Well Phase 3C Project in the Timor Sea…
U.S.-based offshore support vessel owner Tidewater said Wednesday it had agreed to acquire Swire Pacific Offshore Holdings Limited (SPO), a subsidiary of Swire Pacific Limited for around $190 million. Tidewater said the transaction would create…
Oil prices running at their hottest level in 14 years are poised to cut post-COVID pandemic fuel demand as consumers react to surging pump and power prices by pulling back on spending and travel, top energy executives warned on Monday.Global…
Japanese industry minister Koichi Hagiuda said on Tuesday that the Sakhalin energy projects 'will effectively freeze' given the exit of Western stakeholders and that Japan would therefore wait to see how the situation plays out to make any decision…
Oil prices spiked to their highest levels since 2008 on Monday as the United States and European allies weighed a Russian oil import ban and delays in the potential return of Iranian crude to global markets fuelled supply fears.In the first few minutes of trade Brent crude reached $139…
ExxonMobil on Tuesday said it would exit Russia oil and gas operations that it has valued at more than $4 billion and halt new investment as a result of Moscow's invasion of Ukraine.The decision will see Exxon pull out of managing large oil…
Jadestone Energy said Wednesday it had resumed full production at the Montara project offshore Australia.Montara production had in recent weeks been running at reduced rates following an engine failure in the gas reinjection compressor. 'The engine has been replaced and gas lift reinstated…
Oil prices jumped on Monday as Western allies imposed more sanctions on Russia and blocked some Russian banks from a global payments system, which could cause severe disruption to its oil exports.Brent crude LCOc1 rose $4.82, or 4.9%, to $102…
Qatar's Emir Sheikh Tamim bin Hamad al-Thani said on Tuesday that Qatar's liquefied natural gas production capacity will rise to 126 million tonnes a year by 2027.Speaking at a gas exporters summit hosted in Doha, al-Thani renewed calls for further dialogue among member countries of the gas forum…
Malaysia's Petronas and Japan's Mitsubishi Corp are divesting their stakes in Myanmar's Yetagun gas field, the companies said, in the latest exits by major energy companies from the country since last year's military coup.A spokesperson from…
Soaring oil and gas prices and cost savings helped Australia's Woodside Petroleum Ltd (WPL.AX) report profits in 2021 more than tripled to a seven-year high, prompting the firm to reward shareholders with a fatter than expected dividend.Shares…
Asian refiners, traditionally big buyers of Iranian oil, are keen to resume imports from Iran if there is an agreement to revive a 2015 nuclear deal, which could pave the way for more supply on global markets and soften prices.Most Asian buyers halted Iranian oil imports in 2019 after former U…
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