PH loses as DOE halts oil search, says expert
“It’s a game of chicken and we’re losing,” maritime expert Jay Batongbacal said on Monday after the Department of Energy (DOE) ordered the suspension of oil exploration activities in the West Philippine Sea on April 6.
Singapore yard Keppel terminates contracts, keeps rigs
Singapore yard Keppel Offshore & Marine (Keppel O&M) is terminating jack-up rig construction contracts signed with an affiliate of Clearwater Capital Partners, and Fecon International, in October 2013 and February 2014, respectively. Significantly, the yard will keep the drilling units and is exploring the sale and charter of the rigs.
Indonesia energy minister proposes higher fuel distribution quotas
Indonesia’s government plans to increase the distribution quota of certain fuels like diesel and 90-octane fuel to meet strong domestic demand, energy minister Arifin Tasrif told a parliamentary hearing on Wednesday.
DOE orders gas firm to suspend exploration
The Department of Energy (DOE) has directed listed upstream oil and gas firm PXP Energy Corp. to suspend exploration activities in its service contracts in the West Philippine Sea until it secures the go ahead of a government cluster overseeing political, diplomatic and national security concerns.
MOL’s 12,000 cbm LNG bunker vessel launched in Singapore
Brassavola, the first liquefied natural gas (LNG) bunker vessel chartered by energy solutions provider Pavilion Energy to supply LNG bunkers in the Port of Singapore, has been launched.
Asia urged not to build more LNG terminals
Asian countries going into liquefied natural gas (LNG) importation, including the Philippines, may face challenges in securing imported LNG and lead to stranded import infrastructure and gas-fired power plants due to the long-term impact of the Ukraine-Russia war on prices, according to the Institute for Energy Economics and Financial Analysis (IEEFA).
Indonesia Energy Commences Drilling of First of Two Back-to-Back Production Wells at Kruh Block
Indonesia Energy Corporation Limited (NYSE American: INDO) (IEC), an oil and gas exploration and production company focused on Indonesia, today announced that the company has commenced drilling operations at the first of its two back-to-back producing wells (this first well is named the K-27 well) at its 63,000-acre Kruh Block.
Gov’t awards Liguasan marsh petrol service contract to SKLOGC
The government has signed a petroleum service contract on Wednesday, April 7, with SK Liguasan Oil and Gas Corporation (SKLOGC), officially signaling the latter’s entry for oil and gas exploration activities at Area 9 of the Liguasan marsh, located in the southern part of the Mindanao River basin.
