Myanmar plans first oil and gas bids since 2014
New bids for oil and gas exploration and development rights on a series of blocks, along with reforms to joint-venture requirements, are expected to stoke renewed interest in Myanmar’s energy sector and boost investment inflows. On August 30 the Ministry of Electricity and Energy (MoEE) announced it would be opening fresh rounds of bidding for […]
Push for O&G firms to diversify
KUALA LUMPUR: There may be no chance for Malaysian oil & gas (O&G) firms to rest on their laurels given the anticipated demand preference policy activism towards green energy and renewables, which will eventually result in lower fossil fuel consumption. “There is a lot of debate about how to fuel the future moving forward,” said […]
Sapura Energy expects to be profitable by FY20
KUALA LUMPUR: Sapura Energy Bhd is upbeat about returning to the black in the financial year ending January 31, 2020 fuelled by increasing orderbook, reduction in annual interest debt and higher oil and gas (O&G) production. Its president and group chief executive officer Tan Sri Shahril Shamsuddin said the company could secure more contracts in […]
ECV moves LNG project to new location
Energy Capital Vietnam (ECV) has announced that it has moved its initial project location from Bac Lieu to Quang Nam, which is located along the central coast of the country approximately one hour south of Da Nang. According to the statement, the decision was made in cooperation and consultation with the office of the Prime […]
IDEAS: Gas price normalisation important to drive sector’s growth
KUALA LUMPUR (Nov 8): The process of normalising gas prices between the domestic market and global prices is a critical step towards driving Malaysia’s gas production activities, said IDEAS senior fellow Prof Renato Lima de Oliveira. The normalisation, which is currently ongoing via the gas cost pass through (GCPT) mechanism, will make domestic sales profitable, […]
Analysis: Trans-ASEAN gas projects losing relevance amid the fast-paced LNG growth
An ambitious project to link Southeast Asia with a network of natural gas pipelines is losing relevance to a much faster build-out of LNG import terminals as the region leans increasingly towards seaborne supplies. The Trans-ASEAN Gas Pipeline was first conceived in the 1980s to boost the region’s energy security using Southeast Asia’s own prolific […]
DOE wants moratorium on oil exploration in West Philippine Sea lifted
Energy Secretary Alfonso Cusi said Wednesday it is imperative for the government to lift the moratorium on exploration works in the disputed areas in the South China Sea in order for the possible joint oil and gas exploration deal with China to move forward. The Philippines and China are negotiating for the exploration deal which […]
Malaysia’s oil overdependence threatens attempts to shed debt
Analysts see downside risks to the oil price rally even in 2019. The Malaysian government has expressed plans to narrow their YoY budget deficit from 3.7% to 3.4% next year. However, analysts at Fitch Solutions stated that their forecasts remain at 3.7% as they dread that the country’s continued dependence on oil revenues pose risks […]
Philippines says 2 energy exploration deals with China ready for signing
MANILA, Nov 7 (Reuters) – The Philippines is ready with two joint oil and gas exploration agreements to be signed with China, its energy minister said on Wednesday, and reiterated his position calling for the lifting of the ban on drilling works in a disputed area in South China Sea. Energy Secretary Alfonso Cusi made […]
Crude palm oil for power considered
The Energy Ministry is considering using a surplus of crude palm oil this year to replace fossil fuels for power generation at two state-run plants in Chachoengsao and Ratchaburi. The tentative plan is to be implemented at Bang Pakong power plant, owned by the Electricity Generating Authority of Thailand (Egat), and Ratchaburi power plant, owned […]