Energy giant was aware of the impacts of global warming decades ago. But shifting to renewables early on would have ruined the company, a top executive said this week. Suing fossil fuels firms for climate change is “a waste of society’s money and time,” he said. Although Shell was aware of the catastrophic consequences of climate […]

Oil & gas giant sees technical gains from New Zealand project KUALA LUMPUR, MALAYSIA – Media OutReach – November 26, 2018 – Sapura Energy Bhd’s foray into New Zealand earlier this year could be the catalyst, not just for economic growth for the country, but also significant technical collaboration involving Sapura Energy, one of the biggest integrated oil […]

Vietnam’s total oil refining capacity will nearly quadruple by 2023 as two new refineries go on stream, market data provider Fitch Solutions reports. The Dung Quat refinery in the central province of Quang Ngai operated by the state-owned PetroVietnam’s subsidiary Binh Son Refinery Limited (BSR) remains the sole facility now, with a crude oil processing […]

It will fund new natural gas power plants in South Korea. South Korean power generator SK E&S Co. will sell a 49% stake in Paju Energy Service Co., the operator of a natural-gas power plant near Seoul, to Thai utility EGCO for $779.1m. Yonhap News reports that SK E&S Co. will use the proceeds from the […]

Dong Nai (VNA) – The Nhon Trach 2 thermal power plant in the southern province of Dong Nai has generated 35 billion kWh for the national grid over just seven years of operation, announced the PetroVietnam Power Nhon Trach 2 company on November 20. With a designed capacity of 750 MW, the facility was estimated […]

MANILA (Reuters) – Philippine opposition senators have demanded President Rodrigo Duterte reveal details of joint energy exploration plans with China, warning such a deal risked affirming Chinese territorial claims that are not recognized under international law. Early this year, the two countries set up a joint panel to work out how to explore offshore oil […]

THE Department of Energy (DoE) is hoping that a new round of contracting will spur more petroleum exploration ventures and close the resource development gap with regional neighbors. The DoE will launch the Philippine Conventional Energy Contracting Program (PCECP) on Thursday. DoE Secretary Alfonso G. Cusi said his office was “aggressively pursuing” the implementation of […]

HÀ NỘI – Banks and petroleum companies drove the Vietnamese stock market up on Friday while caution still weighed on overall sentiment ahead of the US-China talks at the G20 summit. The benchmark VN Index on the Ho Chi Minh Stock Exchange inched up 0.12 per cent to close at 898.19 points. The southern market […]

KUALA LUMPUR, Nov 16 — Minister of Finance Lim Guan Eng insisted today that Putrajaya’s finances will not be affected if oil prices drop. This comes amid concerns over the commodity’s near-term prospects as uncertainties dog the global economic outlook for next year. Oil accounts for up to 14 per cent of next year’s Budget […]

Weak crude oil prices weigh on rig-builders, petroleum services firms KUALA LUMPUR (Nikkei Markets) — Singapore shares fell Wednesday as investors grappled with lower crude oil prices that weighed on rigbuilders and other firms servicing the industry in a broadly weak market. Malaysia eked out tiny gain. The Straits Times Index closed down 0.3% at […]