Bumi Armada falls to record low as oil outlook stays bearish
KUALA LUMPUR (Nov 30): Bumi Armada Bhd’s share price fell as much as three sen or 16% to 16 sen so far today amid broader market losses and after analysts said crude oil markets remained bearish. At 12:30pm, oil and gas (O&G) support services provider Bumi Armada shares settled at 16.5 sen with some 154 […]
Nhon Trach 2 thermal power plant produces 35 billion kWh in 7 years
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 […]
Vitol Inks Deal with Petronas for LNG Canada Supply
International Swiss trading firm Vitol Group, one of the largest energy traders in the world, has stepped forward as a customer for liquefied natural gas (LNG) from the 25% share in the LNG Canada project owned by Malaysia’s state-owned Petronas. The new export terminal, under construction on the northern Pacific coast of British Columbia, would […]
Tokyo Gas, First Gen to build LNG terminal in Philippines
TOKYO: * Tokyo Gas Co has signed a joint development agreement with Philippines’ First Gen Corp to build and operate a liquefied natural gas (LNG) receiving terminal in the Philippines, its first foray into energy infrastructure development in Southeast Asian country * A Tokyo Gas spokesman declined to comment on the investment amount * The […]
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 […]
Sapura Energy open to cooperation with global corporations
SERI KEMBANGAN: Sapura Energy Bhd is open to partnerships with global corporations for its drilling segment and is currently in talks with several potential partners. Its president and chief executive officer Tan Sri Shahril Shamsuddin said Sapura Energy seeks more collaborative opportunities and is considering several joint ventures from potential companies in the drilling segment. […]
Malaysia’s Petronas acquires 10% stake in Oman gas field
Singapore — Malaysia’s state-run oil and gas company Petronas has completed the acquisition of a 10% stake in a gas field in onshore Oman from Oman Oil Co Exploration & Production or OOCEP. The acquisition was made by Petronas’ subsidiary PC Oman Ventures Ltd or PCOVL in Block 61 from Makarim Gas Development, a subsidiary […]
Port of Singapore’s ban on open-loop scrubbers could boost LNG-fuelled vessels
The Port of Singapore’s surprise decision to ban the discharge of scrubber-produced pollutants known as ‘wash water’ into its seas is likely to accelerate the use of LNG as marine fuel – especially in the Asia Pacific region – because of the importance of the port as a bunkering facility. The announcement, which was made by the […]
New tycoon leads players in next game-changing deals in energy
THEY say good things come in pairs. This adage appears to be shaping up to be true in the case of Davao-based businessman Dennis Uy, who has partnered with two Chinese firms for big-ticket projects in the country. Last month the National Telecommunications Commission (NTC) declared Mindanao Islamic Telephone Co. Inc. of Uy and China […]
Shell focuses on finding new Malampaya gas field
Shell Companies in the Philippines is pushing for more oil and gas exploration to find another Malampaya gas field, instead of putting up an import terminal for liquefied natural gas. “The economic question in LNG, if those who will use it are the existing ones we have, which are around 3 gigawatts of capacity, then […]