Vitol Inks Deal with Petronas for LNG Canada Supply
International Swiss trading firm Vitol Group, one of the largest energy traders in the world, has stepped forward as a customer for liquefied natural gas (LNG) from the 25% share in the LNG Canada project owned by Malaysia’s state-owned Petronas. The new export terminal, under construction on the northern Pacific coast of British Columbia, would […]
Bumi Armada falls to record low as oil outlook stays bearish
KUALA LUMPUR (Nov 30): Bumi Armada Bhd’s share price fell as much as three sen or 16% to 16 sen so far today amid broader market losses and after analysts said crude oil markets remained bearish. At 12:30pm, oil and gas (O&G) support services provider Bumi Armada shares settled at 16.5 sen with some 154 […]
Drilling success for Malaysian duo at UK North Sea cluster
A new central North Sea sidetrack well has come up trumps for Malaysian firm Hibiscus Petroleum and its partner. Hibiscus said the sidetrack on the Guillemot A field was completed in September and was making a “positive contribution”. It is capable of flowing at 3,697 barrels of oil per day and could yield 1.5 million […]
Sapura Energy open to cooperation with global corporations
SERI KEMBANGAN: Sapura Energy Bhd is open to partnerships with global corporations for its drilling segment and is currently in talks with several potential partners. Its president and chief executive officer Tan Sri Shahril Shamsuddin said Sapura Energy seeks more collaborative opportunities and is considering several joint ventures from potential companies in the drilling segment. […]
More LNG traders prefer to keep their fuel inside vessels
SOME liquefied natural gas (LNG) sellers aren’t in a rush to deliver their multimillion-dollar cargoes. With uncertain demand and no signs yet of bitter cold, some traders are preferring to keep their fuel inside vessels in the hope prices will rise. While the sight of stationary cargoes might not be unusual in the more-established oil […]
Posco Daewoo signs MoU with Brunei’s oil company on LNG business
Posco Daewoo Corp., the trading and energy development unit of South Korean steelmaker Posco, has joined hands with Brunei’s national oil company to develop liquefied natural gas (LNG) value chain solutions with hopes to expand business in the environmentally-friendly fuel sector. Posco Daewoo said on Wednesday that it signed a memorandum of understanding (MoU) with […]
Investors keen on drilling for oil and gas – DOE
TAGUIG CITY, Nov. 28 — Department of Energy (DOE) Secretary Alfonso G. Cusi yesterday said that the “keen interest which many investors expressed in exploring oil and gas in the Philippines” augurs well for the country’s development and energy security. Sec. Cusi made the comment after the launch of the Philippine Conventional Energy Contracting Program […]
UPDATE 1-Petronas’s Kebabangan gas field to return to full capacity by August
KUALA LUMPUR, Nov 23 (Reuters) – Malaysia’s Petronas said on Friday production at the Kebabangan gas field in the eastern state of Sabah was expected to return to full capacity by August 2019 following disruption caused by a gas leak at an associated pipeline. The problem was caused by a leak from the Sabah Sarawak […]
High oil price boosts Petronas’ 3Q net profit to RM14.3b
The turnaround in global oil prices to multiyear highs helped Petroliam Nasional Bhd (Petronas) to register a 43.98% jump in net profit to RM14.34 billion for the July through September period. In the third quarter (3Q), global oil prices were traded around US$70 (RM293.22) a barrel, compared to US$50 a barrel a year before, lifting […]
Government to increase utilization of natural gas for energy
Medan, N. Sumatra (ANTARA News) – The government will continue to increase utilization of natural gas for fuel from 19 percent of the national energy consumption at present to 24 percent in 2050. The increase in the utilization of natural gas is in line with the Regulation of the Government No 79 of 2014 on […]