A FOUR-DAY Decommissioning and Restoration Workshop, hosted by the Ministry of Energy, Manpower and Industry (MEMI) in collaboration with the British High Commission in Brunei Darussalam for oil and gas industry assets, held at the Prime Minister’s Office (PMO) building, concluded yesterday. Permanent Secretary (Energy) at the MEMI Haji Azhar bin […]  

Indonesia’s state-owned Pertamina is expected to import around 9 million-10 million barrels of gasoline in February 2019, down from the estimated 10 million-11 million barrels in January, market sources said. Although higher from February 2018, Pertamina’s lower import volumes in February, compared with January, will likely exert downward pressure on the Asian gasoline market. Despite […]

Hengyuan Refining Co. Bhd. (HRC)—a subsidiary of Shandong Hengyuan Petrochemical Co. Ltd.—has approved a $66.4-million investment to develop and build a hydrogen manufacturing unit as part of a hydrogen generation (H2Gen) project for production of cleaner fuels at its 156,000-b/d refining complex in Port Dickson, Negeri Sembilan, Malaysia. Approved on Jan. 16, the primary objective […]

MANILA, Philippines – Oil companies will implement another fuel price hike on Tuesday, January 22, marking the 3rd straight week of increases. Caltex, Shell, Flying V, Phoenix Petroleum, Total, Petro Gazz, Seaoil, and PTT Philippines announced that they will be imposing a P0.10 per liter increase on gasoline and a P0.40 per liter hike on […]

Indonesia’s state-run Pertamina has started increasing its purchases of domestic crude produced by private operators like Chevron from January onwards, as the government tries to narrow its trade deficit and cut down on its import bills. The move is in line with a regulation on crude sales issued last year by Energy and Mineral Resources […]

JAKARTA, Jan 17 (Reuters) – Indonesia’s state-owned energy company, Pertamina, expects to sign a production sharing contract for the Rokan oil block this month, after paying a $784 million signature bonus for its bid in December, a company director said. Indonesia’s energy ministry announced in July that Pertamina will take over operation of Rokan, the […]

KUALA LUMPUR (Jan 16): Barakah Offshore Petroleum Bhd’s unit has won a five-year contract to service Petrofac (Malaysia-PM304) Ltd’s oil and gas fields offshore peninsular Malaysia. In an exchange filing today, the group said the contract, awarded to its wholly-owned subsidiary PBJV Group Sdn Bhd for the years 2018 to 2023, includes Pan Malaysian maintenance, […]

JAKARTA: * Exxon Mobil Corp unit Exxon Mobil Cepu Limited is expected to produce 216,000 barrels per day of crude oil in 2019, making it Indonesia’s biggest oil producer, the country’s upstream oil and gas regulator (SKKMigas) said * In second place Chevron Corp unit Chevron Pacific Indonesia is expected to produce 190,000 bpd of […]

The axe has fallen on another listed oil and gas (O&G) company as Bursa Malaysia Securities Bhd rejected Perisai Petroleum Teknologi Bhd’s regularisation plan, opening the way for its exit from the local stock market. The 2014 oil price rout had claimed many O&G-related companies, with Perisai being the latest victim. Investors dumped Perisai’s shares […]

JAKARTA, Jan 15 (Reuters) – * Pertamina to buy 2.5 million barrels of crude per month from Chevron Pacific Indonesia in January-June 2019 – joint statement * Pertamina crude purchases from Chevron and other companies to cut its crude imports to around 250,000 barrels per day (bpd) from 342,000 bpd (Reporting by Bernadette Christina Munthe […]