MANILA, Philippines — Phinma Petroleum and Geothermal Inc. (PPGI) has completed the withdrawal of its interest in a petroleum block in northwest Palawan after securing government approval. The company told the Philippine Stock Exchange yesterday that it relinquished its 14.063 percent participating interest in Service Contract (SC) 6 Block B in favor of its partners. […]

BANGKOK — State-owned energy group PTT will spend billions of dollars over the next decade to increase Thailand’s natural gas supply, supporting the government’s efforts to diversify the country’s coal-heavy energy mix.

On Wednesday, Thailand’s Minister of Energy Sitthi Chiraphongphan and the first secretary for economy and trade at the Chinese embassy in Thailand witnessed a ceremony to sign a contract for the fuel pipeline expansion project in the Northeast. The contract was signed by Pipeline Network Company–the project’s operator–and China Petroleum Pipeline Engineering–the contractor. The project […]

JAKARTA — Indonesian state-owned oil and gas group Pertamina will increase cooperation with Malaysian counterpart Petroliam Nasional, or Petronas, in an agreement signed on Tuesday that ranges from exploration to renewable power. The comprehensive deal comes as demand for oil and gas is expected to remain high in Southeast Asia. Both parties will “explore the possibilities of cooperation […]

JAKARTA — Major Indonesian oil and gas company Medco Energi Internasional will purchase British peer Ophir Energy for 390 million pounds ($510 million), positioning itself to take on top player Pertamina by increasing output in Southeast Asia. Ophir, established in 2004, holds oil and gas fields in Indonesia, Vietnam and Myanmar, as well as concessions in […]

MANILA — Filipino motorists may have to get used to higher pump prices again, as international oil prices continue marching upward. Both major and independent oil players have announced that they will implement substantial increases in the prices of petroleum products effective early morning Tuesday (Feb. 26). In separate announcements, Pilipinas Shell, Petron Corporation and […]

AKARTA, Feb 22 (Reuters) – Indonesian state energy company PT Pertamina is planning capital expenditures of $4.2 billion this year and will raise it to $7 billion in two years as part of plans to double its oil refinery capacity, chief executive Nicke Widyawati said. Pertamina is under pressure from the government to expand its […]

* Indonesia is offering five oil and gas blocks, three greenfield and two already producing blocks, in its first round of tenders in 2019, Deputy Energy Minister Arcandra Tahar told reporters on Thursday * The three exploration blocks being offered are Anambas Block in offshore Natuna, West Ganal Block in offshore Makassar Strait and West […]

The continuous decline in oil prices that has led to a lower contribution to national revenue should become a wake-up call for the government to immediately kick off fiscal reform that would speed up the use of renewable energy, experts in a recent discussion said. According to a new report released by the Canada-based International […]

Singapore — Indonesia’s Minas crude will no longer flow to Hawaii following Island Energy Services’ closure of its 54,000 b/d Kapolei refinery and sale of refining assets to US producer Par Pacific, in a loss of one of the grade’s few export outlets outside of Indonesia, according to sources with knowledge of the matter and […]