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Thai PTTEP posts higher Q3 oil, gas sales volumes on Bongkot stake

Singapore — Thailand’s PTT Exploration and Production posted a marginal 2% increase in third quarter oil and gas sales volumes on the back of its larger ownership of the Bongkot Project, the largest natural gas field in the Gulf of Thailand, the company said late Thursday. PTTEP’s oil and gas sales for the quarter ended […]

Dennis Uy investing in PXP Energy

PXP ENERGY CORP. is raising P7.11 billion from the subscription of its shares by affiliate Philex Mining Corp., and a holding firm owned by businessman Dennis A. Uy. In a disclosure on Thursday, the crude oil and natural gas explorer said its board of directors had approved the subscription by Uy’s Dennison Holdings Corp. to […]

Indonesia’s Pertamina Looks To Buy Crude, Gasoline In Rupiah

Higher oil prices, sliding local currency, and deteriorating government finances have led to Indonesia’s state oil firm Pertamina seeking to reduce expenses in U.S. dollars, and the company has issued tenders to buy spot crude oil, gasoline, and gasoil in its domestic currency the rupiah, or currencies other than the U.S. dollar, S&P Global Platts […]

Singapore’s Pavilion Energy signs long-term LNG charter deal with BW

SINGAPORE, Oct 22 (Reuters) – Singapore’s Pavilion Energy has signed an agreement with commodities shipper BW Group for the long-term charter of two newly built liquefied natural gas (LNG) vessels, the company said on Monday. The 173,400 cubic metre vessels, expected to be delivered between 2019 and 2020, will add to Pavilion’s global portfolio and […]

Philippines Scrambles to Find Undersea Energy as Import Prices Hit Consumers

  TAIPEI — The resource-rich Philippines is doubling up development of its own fuel sources as world oil price hikes hit the largely impoverished population.On October 17, Philippine President Rodrigo Duterte signed a service contract with the Israeli energy exploration firm Ratio Petroleum to scout for fuel under the South China Sea, the Department of Energy […]

Pan Orient Energy Corp. L53-DD1 Thailand Oil Discovery

CALGARY, Alberta, Oct. 23, 2018 (GLOBE NEWSWIRE) — THAILAND Onshore Concession L53 (Pan Orient Energy (Siam) Ltd., in which Pan Orient has 50.01% ownership) Pan Orient Energy Corp. (“Pan Orient” or the “Company”) (POE – TSXV) is pleased to announce that the L53-DD1 exploration well encountered an interpreted, combined 26 meters of net oil pay […]

Myanmar To Auction Off 31 New Oil And Gas Blocks

On August 30 the Ministry of Electricity and Energy (MoEE) announced it would be opening fresh rounds of bidding for oil and gas blocks in the first half of next year, and there are plans to launch a tender for at least one onshore block before the end of 2018. If all goes according to […]

PHL signs oil exploration deal with Israel’s Ratio Petroleum

THE Philippines on Wednesday formally awarded a petroleum service contract (PSC) to Israeli firm Ratio Petroleum Ltd. for the exploration of an area in the east Palawan basin, a move which the Energy department said bodes well for country’s upstream petroleum industry. The ceremonial signing, which took place at the Heroes Hall of Malacañan Palace, […]

Sembcorp fires up 225MW gas-fired plant in Myanmar

It is expected to generate 1,500GWh of power and support the power needs of 5.3 million people. Sembcorp Industries’ 225MW gas-fired Sembcorp Myingyan Independent Power Plant (IPP) in Mandalay, Myanmar, has started full commercial operation following its first phase operation in May 2018. According to an announcement, the $300m plant uses combined-cycle gas turbine technology that […]

Indonesia’s Pertamina aims to reduce spending in U.S. dollar

JAKARTA, Oct 24 (Reuters) – Indonesia’s state-owned energy company Pertamina is looking to reduce spending of foreign exchange in U.S. dollars by seeking crude oil purchases in other currencies, a senior company official told Reuters on Wednesday. “The (Integrated Supply Chain unit), as executor of the tender, has requested to use other currencies apart from […]