Under the 7-year contract, MVOT, a joint venture between PetroVietnam Technical Services and Malaysia’s MISC Berhad, will provide a FSO to the Japanese firm for the development of the Sao Vang-Dai Nguyet gas field, PetroVietnam said. HANOI: Malaysia Vietnam Offshore Terminal (MVOT) has been awarded a $176 million contract to provide equipment for Idemitsu Kosan […]

JAKARTA, Nov 6 (Reuters) – Indonesia has decided to award 20-year contract extensions from 2022 to three existing oil and gas block operators, Deputy Energy Minister Arcandra Tahar said late on Monday. These were: * Tarakan block, awarded to operator Medco Energi Internasional unit Medco E&P Tarakan, with a 100 percent participating interest * Coastal […]

The Philippines has set into motion collaborative talks with Indonesia on prospective benchmarking of incentives for investments in the upstream petroleum sector. Energy Secretary Alfonso Cusi This was a matter that Philippine Energy Secretary Alfonso G. Cusi had raised with Indonesian Deputy Minister of Energy and Resources Arcandra Tahar in their bilateral meeting in Singapore […]

Several American gas-producing companies are offering liquefied natural gas (LNG) supply to the Philippines as the country contemplates a technology reset process for its gas market. The LNG supply offer was channeled through Energy Secretary Alfonso G. Cusi during his bilateral meeting with the US Business Council on the sidelines of last week’s ASEAN Ministers […]

Phoenix Petroleum Philippines led the latest price rollback of as much as P1.10 per liter effective 6 am Sunday. “For the 4th straight week and for motorists to enjoy lower pump prices for the long weekend, Phoenix Petroleum Philippines will decrease the prices of gasoline by P1.10 per liter and diesel by P1 per liter […]

Singapore — Singapore imported 636,206 mt of fuel oil from Mexico over January-October this year, down 44.7% a year ago, the latest data from Enterprise Singapore showed this week. Industry sources attributed the drop to lower running rates of refineries in the country. Mexico’s largest refinery, the 330,000 b/d Salina Cruz facility, was shut twice […]

MANILA, Philippines — The Philippine government is considering to lift the moratorium on oil and gas exploration in the West Philippine Sea to be able to move forward with an agreement with China. Manila is hoping to finalize the terms of an agreement with Beijing on the possible joint exploration in the West Philippine Sea […]

SINGAPORE, Nov 1 (Reuters) – Malaysia’s state energy firm Petroliam Nasional Bhd on Thursday supplied its first liquefied natural gas (LNG) cargo to a newly built LNG marine fuel supply vessel ahead of a new mandate for ships to switch to cleaner fuels in 2020. Petronas LNG, loaded the cargo onto the world’s largest LNG […]

China is ready to study the possibility of joint oil and gas production with the Philippines in the South China Sea, Chinese Foreign Minister Wang Yi said. “The Chinese party is ready to continue exploring the possibility of joint development of oil and gas [fields] in the South China Sea together with the Philippines. To […]

The Philippines has short-listed three different groups to build and operate its first liquefied natural gas (LNG) import terminal and hopes to nominate one by November, its energy minister said on Tuesday. Short-listed companies were chosen from 18 groups that submitted proposals for the project, Alfonso Cusi told Reuters on the sidelines of the Singapore […]