O&G services companies never really recovered from 2016 downturn and prospects remain weak, says Moody’s
KUALA LUMPUR (April 7): Upstream oil and gas services companies have never really recovered from the 2016 downturn, and the trend in energy transition will pose another challenge in their path towards recovery, said Moody’s Investors Service. On top of that, prospects for the sector remain weak on the back of recent capex cuts, said […]
Southeast Asian Producers Want To Tie Their Future to Region’s Growing Energy Demand
Southeast Asian operators sit in the middle of the world’s fastest growing economic region where energy demand is expected to double over the next 20 years. But this picture of growth has been juxtaposed with the region’s declining oil and gas production—most of which comes from offshore fields—that has left it increasingly reliant on imports […]
Philippines First Gen Corps signs 5 years contract with Norway BW Gas Ltd.
A subsidiary of First Gen Corp. has entered into a five-year contract to charter a liquefied natural gas (LNG) carrier from a unit of Norway-based BW Gas Ltd. in line with the Lopez-led company’s offshore gas terminal project in Batangas. First Gen said in a statement on 6 April 2021 that floating storage regasification unit […]
O&G players seek clarity on Malaysia’s future energy direction
KUALA LUMPUR: Oil and gas companies operating in Malaysia are seeking more clarity on the country’s future direction in the energy transition in line with the global trend of accelerating to a low or zero-carbon future. ExxonMobil Exploration and Production Malaysia Inc president Edward Graham said most O&G players were finding ways to be cost-competitive […]
Thailand’s first M701JAC turbine begins operations at CCGT plant
The first M701JAC series gas turbine in southeast Asia has gone into commercial operation as part of a new gas-fired power plant in Thailand. Japan’s Mitsubishi Power started operation of the newly completed M701JAC installment. The gas turbine is the first brought online at the Chonburi Province combined cycle power plant operated by Gulf SRC. […]
BW wins FSRU deal for Philippines’ maiden LNG imports
First Gen has awarded a five-year deal that will see Norway’s BW Gas Limited supply a floating storage regasification unit (FSRU) to support its Interim Offshore LNG Terminal project in the Philippines. First Gen said that the FSRU will allow it to accelerate its ability to introduce LNG to the Philippines as early as Q3 […]
Vietnam seals deal with South Korean contractor to build $3bn LNG power station in Long An
A joint venture between GS Energy of South Korea and Vietnamese asset manager VinaCapital is to build a $3bn power station in Long An province, to the east of Ho Chi Minh City. GS will operate the plant for 25 years after its completion in December 2025. Long An I and II will have two […]
Ecuador reaches pre-agreement with Thailand’s PTT to renegotiate oil-for-loan deal
If the proposed deal is signed this year, PTT and PetroChina would jointly receive up to 77 million barrels of Ecuadorian crude per year through 2024, Ortiz said
