Far East
News
September 04, 2015
Rosneft Vietnam B.V., a company of Rosneft Group, and Japan Drilling Co., Ltd. (JDC) signed an agreement on provision and operation of the marine drilling rig HAKURYU-5, for the purposes of drilling exploration wells within the framework of Rosneft’s projects in Vietnam.
News
September 04, 2015
OAO Rosneft will sell a stake in one of its largest oil-producing projects to ONGC Videsh Ltd., the overseas-investment arm of India’s biggest explorer, for $1.27 billion, people familiar with the plan said.
News
August 17, 2015
Wood Group has been awarded the front end engineering and design (FEED) contract for the subsea development of the Talisman Energy Ca Rong Do field offshore Vietnam.
News
July 24, 2015
China repeated a call Friday for talks with Japan over joint development of gas and oil resources in contested waters in the East China Sea.
News
July 22, 2015
Japan’s foreign ministry unveiled a map and photographs of what it said were 16 Chinese marine platforms close to Japan’s side of the disputed East China Sea.
News
May 20, 2015
British Columbia and a group of companies led by Malaysia’s Petroliam Nasional Bhd. reached a preliminary deal on taxes and royalties for a proposed C$36 billion ($30 billion) liquefied natural gas project.
News
May 19, 2015
The U.S. is about to change the global LNG market forever.
When the first tanker carrying LNG from shale fields leaves the Sabine Pass terminal in Louisiana in December, it will turn consumers into traders with more bargaining power. That will transform a market dominated by long-term contracts into one where spot trading gains prominence, similar to crude oil.
Since the first LNG cargo went to the U.K. from Algeria under a long-term contract in 1964, buyers opted for guaranteed supply, because the fuel was scarce. That’s changing, because gas from the Eagle Ford and other plays will transform the U.S. into the third-biggest exporter by 2020.
News
May 05, 2015
LAFAYETTE, La. -- Gauthiers’ has acquired an equity share of Modex, an international manufacturer of DNV-certified offshore equipment.
News
April 16, 2015
Huisman has started final factory acceptance testing of its first 900-mt Rope Luffing Knuckle Boom Crane, now called the ‘Hybrid Boom Crane’, at the quayside of the Huisman China Production facility in Zhangzhou.
News
March 09, 2015
KrisEnergy has increased its working interest in Block 105 and is taking over operatorship of the production sharing contract.
News
February 27, 2015
With supertankers booked solid carrying cheap crude, smaller vessels are taking advantage of the opportunity by hauling record volumes of Russian oil to Asia.
News
February 27, 2015
Ships carrying oil from Mexico are sailing to South Korea for the first time in more than two decades as the U.S. shale boom brings bargains from around the globe.
News
February 16, 2015
SHANGHAI (Bloomberg) -- China will allow more oil refiners to process imported crude, opening the door for small, independent plants known as teapots to use an alternative feedstock.
News
February 11, 2015
InterOil Corporation has advised that the International Chamber of Commerce arbitration panel has dismissed all claims by the PAC LNG companies, affiliates of Oil Search Limited, to pre-emptive rights over a share sale and purchase agreement involving an interest in the Elk-Antelope gas field in Papua New Guinea.
News
January 30, 2015
HOUSTON -- The oil and gas industry’s leading magazine for upstream technology and activity, World Oil, forecasts a sharp drop in drilling, both in the U.S. and internationally, as a direct result of plunging crude oil prices. In its 89th annual forecast and review, World Oil predicts an average WTI oil price of $55.75/barrel (bbl), while Brent will be $58.80/bbl. A Henry Hub natural gas price of $3.35/MMBtu is expected.
News
January 22, 2015
Indonesia’s LNG exports may drop by a quarter this year as domestic demand climbs and contracts with several overseas buyers are set to expire.
News
January 21, 2015
HOUSTON -- ABS has awarded approval in principle (AIP) for Hyundai Heavy Industries' next-generation HD12000 heavy duty, wide beam drillship design.
News
January 14, 2015
THE WOODLANDS, Texas -- Newfield Exploration has concluded its marketing process for its China business and now plans to retain the assets. For financial purposes, the China business will be reclassified as "continuing operations" in the fourth quarter of 2014.
News
January 13, 2015
BREMEN, Germany -- SAACKE Marine Systems received an initial order from Japan-based JGC Corporation in June 2014 to deliver a complete high temperature water boiler system consisting of a fired hot water boiler with a dual fuel burner and two heat recovery units for Petronas’ second FLNG facility.
News
January 08, 2015
EDINBURGH, SINGAPORE and HOUSTON -- The LNG industry celebrated its 50th birthday in 2014 but while the industry may have matured, Wood Mackenzie finds in its annual review that it's still not short of surprises. Giles Farrer, Wood Mackenzie's Principal Analyst - Global LNG, explains, "Production was up 5 MMtpa to 246 MMtpa and overall trade was boosted by higher levels of re-exports. But the big surprise was that Asian LNG demand was much lower than expected. Demand in emerging markets, like China, failed to grow to the extent anticipated and demand in the established South Korean market fell considerably."
