PGN signs deal with two fertilizer producers for cheap gas
Two of Indonesia’s biggest fertilizer producers have signed deals to receive cheap natural gas as part of a long-delayed government incentive to push industry growth. PT Pupuk Kujang Cikampek and PT Pupuk Iskandar Muda (PIM), subsidiaries of fertilizer holding company PT Pupuk Indonesia, signed the deal for gas – a key ingredient in fertilizer production […]
Shocks in oil and gas industry weigh on financial performance
KUALA LUMPUR (Aug 31): The oil and gas industry is experiencing its third price collapse in 12 years but after the first two shocks, the industry rebounded and business continued as usual. This time it is different as the current context combines a supply shock with an unprecedented drop in demand for the commodity and a […]
Maersk Drilling secures £35m contract extension
Brunei Shell Petroleum has exercised a £35 million contract extension option for the Maersk Convincer jack-up rig for work offshore Brunei Darussalam. The extension has a duration of 602 days and will commence in May 2021 in direct continuation of the rig’s current work scope, which means that Maersk Convincer is now contracted by BSP until […]
Reservoir Energy upbeat on outlook ahead
KUCHING: Sarawakian player Reservoir Energy Group Bhd (Reservoir Energy) remains optimistic on its outlooks within the local oil and gas (O&G) scene following much optimism after its recent listing on the ACE Market of Bursa Malaysia. In an interview with The Borneo Post, Reservoir Link’s executive director Thien Chiet Chai said the group did its […]
Pertamina sees 12% drop in Indonesia’s biodiesel sales in 2020
JAKARTA: Indonesia’s oil and gas company PT Pertamina estimates the country’s total sales of biodiesel with 30 per cent palm oil content will be at 28.2 million kilolitres (KL) this year, its director told parliament on Monday. It would be 12 per cent lower from last year’s sales, Masud Khamid said.
Thailand throws open LNG imports to private sector
BANGKOK — Thailand has decided to open up imports of liquefied natural gas to the private sector, prompted by high electricity bills and diminished domestic natural gas reserves. State-owned energy giant PTT has a near-monopoly on Thailand’s supply of natural gas used to generate power. The company procures most of the LNG through long-term contracts. But […]
PetroVietnam subsidiary to drill in Cambodia from October
Hanoi (VNA) – The PetroVietnam Drilling & Well Service Corporation (PV Drilling)’s rig PV Drilling III will implement its contract to drill five new wells for Kris Energy in Cambodia for three months, starting October. Meanwhile, the rig PV Drilling II will start a 100-day drilling campaign in Vietnam from September, according to the corporation.
DOE approves Ayala firm’s petroleum drilling
The Department of Energy (DOE) has approved the petroleum drilling plan that Ayala-owned firm ACE Enexor Inc. lodged for its Service Contract (SC) 55 oil and gas block straddling Northwest Palawan basin. The company, in a disclosure to the Philippine Stock Exchange (PSE), has specified that the drilling of one well is part of the appraisal […]
