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Oil and Gas News

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    04 July 2022 | Source: Reuters
    Post Type: PRINTED NEWS

    ​Oil prices fell in early Asian trade on Monday, paring gains from the previous session as fears of global recession weighed on the market even as supply remains tight amid lower OPEC output, unrest in Libya and sanctions on Russia.

    04 July 2022 | Source: The STAR Online
    Post Type: ONLINE NEWS

    ​A diesel smuggling syndicate is getting more brazen in its attempts to make huge profits by selling the subsidised fuel through the black market in international waters.

    04 July 2022 | Source: OilPrice.com
    Post Type: ONLINE NEWS

    ​There is a glaring problem in the energy transition that not many people are acknowledging. It is being built on the back of finite resources, and the mining industry is already warning that there aren’t enough metals for all the batteries the transition will require.Because of the short supply, prices are on the rise, as are prices across commodity sectors.

    01 July 2022 | Source: Reuters
    Post Type: ONLINE NEWS

    The Biden administration on Thursday delayed the rollout of a proposed five-year offshore oil and gas development plan that had been promised by the end of the month, according to sources. 

    01 July 2022 | Source: Upstream Online
    Post Type: ONLINE NEWS

    ​The proposed Alaska LNG project has overcome a potential stumbling block after the US Department of Energy (DOE) determined it would have a minimal effect on increasing greenhouse gas emissions.

    01 July 2022 | Source: The STAR Online
    Post Type: ONLINE NEWS

    ​The government should continue controlling the price of petrol, energy and electricity and food to curb inflation, say economists.

    30 June 2022 | Source: Reuters
    Post Type: ONLINE NEWS

    ​Oil prices slid about 2% on Wednesday as a rise in U.S. gasoline and distillate inventories and worries about slower economic growth around the world offset ongoing concerns about tight crude supplies.

    30 June 2022 | Source: Upstream Online
    Post Type: ONLINE NEWS

    ​Uzbekistan is celebrating what is claimed to be country’s largest ever crude discovery after oil producer Sanoat Energetika Guruhi (SEG) reported a major new unconventional oil find in the Zarafshan depression, between the cities of Samarkand and Navoy.

    30 June 2022 | Source: Reuters
    Post Type: ONLINE NEWS

    ​Australia urgently needs about A$13 billion ($9 billion) in transmission investments to jumpstart the transition to renewable energy, the country's energy market operator said on Thursday in a closely watched long-term plan for the grid.

    29 June 2022 | Source: Upstream Online
    Post Type: ONLINE NEWS

    ​​Malaysia’s national oil company PETRONAS is making preparations to spud its maiden exploration well in Brazilian waters as an operator early next year, targeting hydrocarbons in the ultra-deepwater portion of the prolific Campos basin.

    29 June 2022 | Source: Reuters
    Post Type: ONLINE NEWS

    ​​Canada will delay the start date of its regulation to reduce the carbon intensity of gasoline and diesel by seven months, but increase its stringency, according to a draft of the Clean Fuel Standard (CFS) seen by Reuters.

    29 June 2022 | Source: Reuters
    Post Type: ONLINE NEWS

    ​Oil prices settled higher for a third day on Tuesday as major producers Saudi Arabia and the United Arab Emirates looked unlikely to be able to boost output significantly while Western governments agreed to explore ways to cap the price of Russian oil.

    29 June 2022 | Source: Upstream Online
    Post Type: ONLINE NEWS

    ​Supermajors Shell and ExxonMobil have joined China National Offshore Oil Corporation (CNOOC) to pursue a huge carbon capture and storage (CCS) project in Guangdong province, China’s southern economic powerhouse.

    28 June 2022 | Source: Reuters
    Post Type: ONLINE NEWS

    ​The Group of Seven club of wealthy nations on Monday vowed to stand with Ukraine "for as long as it takes", promising to tighten the squeeze on Russia's finances with new sanctions that include a proposal to cap the price of Russian oil.

    28 June 2022 | Source: Reuters
    Post Type: ONLINE NEWS

    ​Oil rose $2 a barrel on Monday on the prospect of even tighter supplies loomed over the market as the Group of Seven nations promised to tighten the squeeze on Russian President Vladimir Putin's war chest while actually lowering energy prices.

    27 June 2022 | Source: Reuters
    Post Type: ONLINE NEWS

    Some of the leaders of the Group of Seven (G7) rich democracies are pushing for an acknowledgement of the need for new financing for fossil energies investments, two sources told Reuters on Sunday, as European states scramble to diversify supplies.

    27 June 2022 | Source: Borneo Bulletin
    Post Type: ONLINE NEWS

    Tokyo Gas, Japan’s top city gas supplier, said on Friday it has begun a pilot programme of methanation, a technology to help decarbonise city gas, and plans to use green hydrogen sourced from renewable energy for the trial by next March.

    27 June 2022 | Source: Reuters
    Post Type: ONLINE NEWS

    Ministers from European Union countries will meet this week to attempt to agree joint plans to fight climate change, with some diplomats saying countries under economic pressure might water down some of the most ambitious targets proposed by Brussels.

    27 June 2022 | Source: The STAR Online
    Post Type: ONLINE NEWS

    The total amount of subsidies is expected to reach nearly RM80bil this year, which is the largest amount in history, says Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz.

    24 June 2022 | Source: Reuters
    Post Type: ONLINE NEWS

    Germany triggered the "alarm stage" of its emergency gas plan on Thursday in response to falling Russian supplies but stopped short of allowing utilities to pass on soaring energy costs to customers in Europe's largest economy.

    24 June 2022 | Source: The Edge Markets
    Post Type: ONLINE NEWS

    The most closely watched oil data in the world -- the US government’s Weekly Petroleum Status Report -- won’t be released as planned this week because of system issues stemming from a power problem.

    24 June 2022 | Source: The Edge Markets
    Post Type: ONLINE NEWS

    Singapore began receiving hydropower from Laos wired through Thailand and Malaysia on Thursday, the city-state’s first renewable electricity imports as it looks beyond its borders to meet climate change goals.

    23 June 2022 | Source: The Borneo Post Online
    Post Type: ONLINE NEWS

    IN 1986, a Singapore-based company had to close its operations in Miri, Sarawak following a global oil price collapse.The company supplied marine, lifesaving, safety, and Chubb fire-fighting equipment


    23 June 2022 | Source: Reuters
    Post Type: ONLINE NEWS

    The European Union will temporarily shift back to coal to cope with dwindling Russian gas flows without derailing longer term climate goals, an EU official said on Wednesday as a tight gas market and soaring prices set off a race for alternative fuels.

    23 June 2022 | Source: The Edge Markets
    Post Type: ONLINE NEWS

    China and India may be buying more Russian oil than the US previously believed, easing a supply crunch in global markets and potentially driving a recent price decline, one of President Joe Biden’s economic advisers said.

    22 June 2022 | Source: The STAR Online
    Post Type: ONLINE NEWS

    Handal Energy Bhd (Handal), a leading integrated services provider to the oil and gas (O&G) industry, has secured four new purchase orders (PO) and one contract extension via its wholly-owned subsidiary, Handal Cranes Sdn Bhd and 51 per cent-owned subsidiary, Borneo Seaoffshore Engineering Sdn Bhd (BSOE).

    22 June 2022 | Source: Reuters
    Post Type: ONLINE NEWS

    Oil prices skidded in early trade on Wednesday amid a push by U.S. President Joe Biden to bring down soaring fuel costs, including pressure on major U.S. firms to help ease the pain for drivers during the country's peak summer demand.

    22 June 2022 | Source: Reuters
    Post Type: ONLINE NEWS

    Capacity for U.S. oil refiners fell in 2021 for the second year in a row, the most recent government data showed on Tuesday, as plant shutdowns kept whittling away on their ability to produce gasoline and diesel.

    21 June 2022 | Source: Reuters
    Post Type: ONLINE NEWS

    ​Europe's biggest Russian gas buyers raced to find alternative fuel supplies on Monday and could burn more coal to cope with reduced gas flows from Russia that threaten an energy crisis in winter if stores are not refilled.

    21 June 2022 | Source: The Edge Market
    Post Type: ONLINE NEWS

    The Middle East could help ease a global diesel-supply crunch as it drives an expansion in refining capacity in the coming year.

    20 June 2022 | Source: Reuters
    Post Type: ONLINE NEWS

    ​China's May gasoline exports fell 45.5% from a year earlier and diesel exports plunged 92.7% despite stalling domestic demand, as companies ran short of export quotas, Chinese customs data showed on Saturday.

    20 June 2022 | Source: Reuters
    Post Type: ONLINE NEWS

    ​​Germany on Sunday announced its latest steps to boost gas storage levels to prepare for the next winter season, when it fears Russia, which has cut deliveries in recent days, could reduce or even completely halt supplies.

    17 June 2022 | Source: Upstream Online
    Post Type: ONLINE NEWS

    ​PETRONAS’ Malaysia Petroleum Management (MPM) has delayed the deadline for bid submissions for the ongoing licensing round Malaysia Bid Round 2022 (MBR 2022).

    17 June 2022 | Source: The STAR Online
    Post Type: ONLINE NEWS

    ​Sapura Energy Bhd’s drilling and engineering and construction business segments, through its wholly owned subsidiaries and joint-venture, have secured six major contracts in the Asia-Pacific and Atlantic region with a combined value of RM2.7bil.

    17 June 2022 | Source: Forbes
    Post Type: ONLINE NEWS

    ​Global gas and LNG markets have been significantly disrupted by the war in Ukraine. A glorious opportunity has been presented to suppliers with LNG available who can fill the void left by Russia’s diminishing role and capitalise on high prices.

    17 June 2022 | Source: Upstream Online
    Post Type: ONLINE NEWS

    ​Australia’s Santos is progressing ambitious plans for what it is hailing as the world’s largest carbon capture and storage (CCS) project a 10 million tonnes per annum development at its soon-to-be depleted Bayu-Undan gas condensate field in the Timor Sea.

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