Oil prices slip as recession fears rumble on, tight supply stems losses04 July 2022 | Source: ReutersPost Type: PRINTED NEWSOil 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.
Bezos Slams Biden Over Call for Lowering of Gas Prices04 July 2022 | Source: BloombergPost Type: ONLINE NEWSAmazon.com Inc. founder Jeff Bezos criticized a tweet from US President Joe Biden calling for oil executives to reduce gasoline prices.
Ping hits the fairway: FPSO identified for UK oil project04 July 2022 | Source: Upstream OnlinePost Type: ONLINE NEWSUK operator Ping Petroleum has taken delivery of a floating production. storage and offloading vessel to be deployed on its Avalon development in the UK North Sea.
Diesel smuggling syndicate funnelling fuel in high seas04 July 2022 | Source: The STAR OnlinePost Type: ONLINE NEWSA 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.
Mining Industry Warns Energy Transition Isn’t Sustainable04 July 2022 | Source: OilPrice.comPost Type: ONLINE NEWSThere 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.
Biden administration offshore drilling plan delayed01 July 2022 | Source: ReutersPost Type: ONLINE NEWSThe 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.
OPEC+ sticks with planned oil production hike in August01 July 2022 | Source: Upstream OnlinePost Type: ONLINE NEWSDecision takes place as US President Joe Biden intends to visit Saudi Arabia in July.
US finds Alaska LNG would not increase greenhouse gas emissions01 July 2022 | Source: Upstream OnlinePost Type: ONLINE NEWSThe 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.
Malaysia needs both climate change mitigation and adaptation plan, says Greenpeace Malaysia01 July 2022 | Source: The Edge MarketsPost Type: ONLINE NEWSThe effects of climate change are causing significant economic losses for Malaysia, undermining infrastructure and development efforts, and impacting livelihoods, says Greenpeace Malaysia.
‘Keep subsidies to stop inflation’01 July 2022 | Source: The STAR OnlinePost Type: ONLINE NEWSThe government should continue controlling the price of petrol, energy and electricity and food to curb inflation, say economists.
Oil slides 2% on rising U.S. fuel stocks and output30 June 2022 | Source: ReutersPost Type: ONLINE NEWSOil 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.
Biden administration oil, gas auctions kick off with thin industry response30 June 2022 | Source: ReutersPost Type: ONLINE NEWSThe Biden administration's first sale of oil and gas drilling rights on federal land garnered thin industry interest on Wednesday while environmental groups filed two separate lawsuits seeking to invalidate the results.
Uzbekistan cheers its largest ever oil find30 June 2022 | Source: Upstream OnlinePost Type: ONLINE NEWSUzbekistan 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.
Australia swiftly needs $9 bln in grid investment for energy transition30 June 2022 | Source: ReutersPost Type: ONLINE NEWSAustralia 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.
RHB: Government may cover subsidy bill via higher PETRONAS dividend, lowering development expenditures29 June 2022 | Source: The Edge MarketsPost Type: ONLINE NEWSThe government may cut 2022 development expenditure and opt for higher dividend from Petroliam Nasional Bhd (PETRONAS) to support its record subsidy bills while meeting its fiscal deficit target of 6% of GDP, said RHB Research.
PETRONAS set for two-well campaign offshore Brazil in 202329 June 2022 | Source: Upstream OnlinePost Type: ONLINE NEWSMalaysia’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.
Canada to toughen, but delay new standard for fuel emissions29 June 2022 | Source: ReutersPost Type: ONLINE NEWSCanada 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.
Oil settles higher as major producers flag capacity limits29 June 2022 | Source: ReutersPost Type: ONLINE NEWSOil 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.
Shell, ExxonMobil and CNOOC team up on world-class CCS hub in China29 June 2022 | Source: Upstream OnlinePost Type: ONLINE NEWSSupermajors 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.
G-7 Leaders Favor LNG Investment in U-Turn Due to Energy Crisis29 June 2022 | Source: BloombergPost Type: ONLINE NEWSInvestments in liquefied natural gas -- already booming as Europe seeks to cut its energy dependence on Russia -- are set to get another boost, even amid longstanding climate concerns.
G7 to stand with Ukraine 'for as long as it takes'28 June 2022 | Source: ReutersPost Type: ONLINE NEWSThe 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.
U.S. emergency oil reserve draws by 6.9 mln barrels to lowest since 198628 June 2022 | Source: ReutersPost Type: ONLINE NEWSU.S. crude inventory in the Strategic Petroleum Reserve (SPR) fell by 6.9 million barrels in the week to June 24, according to data from the Department of Energy.
Oil rises $2/bbl after G7 vows new Russian sanctions28 June 2022 | Source: ReutersPost Type: ONLINE NEWSOil 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.
Oil prices rise as supply concerns dominate28 June 2022 | Source: The STAR OnlinePost Type: ONLINE NEWSOil prices climbed on Monday, bolstered by continued concerns over tight supplies.
G7 leaders debate fossil fuel investments amid energy crisis27 June 2022 | Source: ReutersPost Type: ONLINE NEWSSome 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.
Tokyo Gas begins synthetic methane trial using green hydrogen27 June 2022 | Source: Borneo BulletinPost Type: ONLINE NEWSTokyo 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.
Exxon Mobil CEO cautions against an abrupt energy transition, warning underinvestment leads to high gas prices27 June 2022 | Source: CNBCPost Type: ONLINE NEWSExxon Mobil CEO Darren Woods warns that an abrupt transition to renewable energy will cause society to "pay a high price." The national average price for a gallon of gasoline is currently nearly $5, causing strife for all drivers, according to AAA.
EU ministers seek deals on climate laws as economy woes test green pledges27 June 2022 | Source: ReutersPost Type: ONLINE NEWSMinisters 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.
RM80bil in subsidies this year, highest in history27 June 2022 | Source: The STAR OnlinePost Type: ONLINE NEWSThe 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.
Sarawak premier says committed to stable, conducive business environment for sustainable growth in oil and gas industry24 June 2022 | Source: MalaymailPost Type: ONLINE NEWSSarawak Premier Tan Sri Abang Johari Openg today said the state government is committed to maintaining a stable and conducive business and investment environment for sustainable growth of the upstream and downstream activities of the state’s oil and gas industry.
Germany triggers gas alarm stage, accuses Russia of 'economic attack'24 June 2022 | Source: ReutersPost Type: ONLINE NEWSGermany 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.
Oil prices slump as investors fear Fed rate hikes will hurt demand24 June 2022 | Source: ReutersPost Type: ONLINE NEWSOil prices dropped by nearly $2 a barrel on Thursday after another round of remarks from Federal Reserve Chair Jerome Powell fanned worries U.S. interest rate hikes wouldslow economic growth.
World’s most watched oil data won’t be released this week24 June 2022 | Source: The Edge MarketsPost Type: ONLINE NEWSThe 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.
Singapore imports clean power for first time, buying from Laos24 June 2022 | Source: The Edge MarketsPost Type: ONLINE NEWSSingapore 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.
Daya Singa continues to roar in O&G industry23 June 2022 | Source: The Borneo Post OnlinePost Type: ONLINE NEWSIN 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
EU signals shift to coal, accuses Russia of 'rogue moves' on gas23 June 2022 | Source: ReutersPost Type: ONLINE NEWSThe 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.
China, India may be buying more Russia oil than known, US says23 June 2022 | Source: The Edge MarketsPost Type: ONLINE NEWSChina 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.
Handal bags five contracts from new and existing clients22 June 2022 | Source: The STAR OnlinePost Type: ONLINE NEWSHandal 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).
Oil prices slide as Biden pushes for U.S. fuel cost cuts22 June 2022 | Source: ReutersPost Type: ONLINE NEWSOil 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.
U.S. oil refining capacity down in 2021 for second year -EIA22 June 2022 | Source: ReutersPost Type: ONLINE NEWSCapacity 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.
Pengerang Energy Complex to receive US$2.4b funding by year end, says ChemOne21 June 2022 | Source: The Edge MarketsPost Type: ONLINE NEWSChemOne Group has announced that the Pengerang Energy Complex (PEC) project is on track to receive export guarantee facilities of around US$2.4 billion (about RM10.56 billion) by the end of the year.
Europe may shift back to coal as Russia turns down gas flows21 June 2022 | Source: ReutersPost Type: ONLINE NEWSEurope'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.
Saudi Kuwait oil refinery expansion 21 June 2022 | Source: The Edge MarketPost Type: ONLINE NEWSThe Middle East could help ease a global diesel-supply crunch as it drives an expansion in refining capacity in the coming year.
Portugal wants long-term EU mechanism for security, energy investment21 June 2022 | Source: ReutersPost Type: ONLINE NEWSPortugal wants the European Union to create a mechanism similar to its pandemic recovery programme to channel investment into defence, security, green energy and digital spheres, Prime Minister Antonio Costa said on Monday.
China's May gasoline exports plunge, LNG imports slide20 June 2022 | Source: ReutersPost Type: ONLINE NEWSChina'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.
Germany announces steps to boost gas storage as Russia cuts supply20 June 2022 | Source: ReutersPost Type: ONLINE NEWSGermany 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.
Malaysia delays latest licensing round17 June 2022 | Source: Upstream OnlinePost Type: ONLINE NEWSPETRONAS’ Malaysia Petroleum Management (MPM) has delayed the deadline for bid submissions for the ongoing licensing round Malaysia Bid Round 2022 (MBR 2022).
Sapura Energy wins projects worth RM2.7bil17 June 2022 | Source: The STAR OnlinePost Type: ONLINE NEWSSapura 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.
The Golden Opportunity For LNG.17 June 2022 | Source: ForbesPost Type: ONLINE NEWSGlobal 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.
World’s largest CCS project set for sanction in 202317 June 2022 | Source: Upstream OnlinePost Type: ONLINE NEWSAustralia’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.
