Petroecuador seeks to extend crude delivery to Thailand’s PTT by a year -official
Ecuador’s state-owned oil company Petroecuador hopes to reach an agreement with Thai counterpart PTT (PTT.BK) to extend the time frame for crude deliveries until the end of 2024 and would welcome talks with the United States to supply oil directly to the North American country, a company official told Reuters on Tuesday.
Shell snaps up deep-water exploration acreage in Malaysia
Malaysia’s Petronas has signed production sharing contracts (PSCs) for five offshore exploration blocks, namely SB412, 2W, and X located off the coast of Sabah, and SK439/SK440 situated off the coast of Sarawak. Significantly, Shell has signed up for ultra-deepwater exploration acreage.
LNG market gets boost as Mubadala starts first gas from Pegaga in Malaysia
The outlook for liquefied natural gas (LNG) production in Asia has taken a positive turn following Mubadala Petroleum starting first gas flows from Pegaga to the Petronas-led Bintulu LNG export complex in Malaysia.
Fuel price drop next week seen as temporary
MANILA, Philippines — The large drop in local fuel prices expected next week may not be sustainable as the International Energy Agency (IEA) warned that the global oil supply would suffer a major cut once Russia’s petroleum stops reaching the market due to sanctions over its invasion of Ukraine.
BP wins deepwater exploration blocks in Indonesia
BP (LON:BP) will carry out deepwater oil and gas exploration offshore Indonesia after winning the rights to the Agung I and Agung II blocks as part of the nation’s second bid round last year. The move offers a glimmer of hope for Indonesia’s struggling upstream sector that has seen big international firms, such as ConocoPhillips, […]
Analysis: Thailand faces perfect storm as it seeks more LNG supply
BANGKOK, March 16 (Reuters) – A global energy crunch is sending liquefied natural gas prices skywards, but Thailand needs to ramp up its purchases to offset a steep production fall at its largest gas field and as sanctions threaten supplies from Myanmar.
Thai Firm Takes Over Myanmar Gas Field After Withdrawal of Chevron, Total
Thai energy company PTTEP has said it will take over the running of Myanmar’s vital Yadana gas field following the withdrawal of global giants Chevron and TotalEnergies in January.
B.Grimm hails first private import of LNG
B.Grimm Power Plc (BGRIM) has become the first private company to procure liquefied natural gas (LNG) for Thailand, following an agreement with national oil and gas conglomerate PTT Plc to use its LNG receiving and regasification facility in Rayong.
