AsianOil - Asia Oil & Gas

US slaps heavy energy, financial sanctions on Russia

LNG imports up in Bangladesh as domestic reserves dwindle

According to data from Petrobangla, Bangladesh has extracted over two-thirds of its recoverable gas, leaving less than 9 trillion cubic feet (255bn cbm) in reserve as of mid-2024.

Chinese LNG carrier involved in dark fleet activities

A Chinese-owned LNG carrier has been observed engaging in what appears to be a ship-to-ship transfer with a sanctioned Russian vessel off the coast of Malaysia, raising questions about China’s role in the shadow trade of Russian energy exports.

Secondary sanctions on China, India key to US efforts to clamp down on Russian oil exports

Their effectiveness, however, will depend heavily on the level of enforcement and on how far the US is prepared to pursue secondary sanctions against major economies such as China and India.

Taiwan fuel prices climb following global oil surge

Fuel prices in Taiwan are set to increase this week as global crude oil markets recorded their largest weekly rise since June.

Tokyo Gas inks Letter of Intent for LNG from Alaska project

Tokyo Gas has signed a Letter of Intent with US developer Glenfarne for 1mn tonnes of LNG from the Alaska LNG project.

India’s Reliance says it will comply with Western sanctions while maintaining supplier ties

Petrovietnam sets out to divest non-core assets

Vietnam’s state-owned oil and gas giant PetroVietnam has launched a formal plan to divest its capital contributions in two non-core subsidiaries

China’s state-owned oil giants halt Russian crude purchases in response to US sanctions

China’s state-owned oil giants have paused their purchase of Russian crude oil in response to recent US sanctions targeting Moscow’s two largest oil firms, Rosneft and Lukoil

JERA to purchase US shale-gas assets for $1.5bn

Under the agreement, JERA will acquire 100% of the interests held by Williams Companies and GEP Haynesville II in the South Mansfield gas field, located in Louisiana’s Haynesville Shale basin.

India, US near major trade deal cutting tariffs to 15–16% if New Delhi will limit Russian crude imports

India and the United States are close to finalising a long-awaited bilateral trade deal that could sharply lower tariffs on Indian exports to about 15–16% from the current average of 50%

Iraq and Turkmenistan sign MoU on energy cooperation and gas imports

Iraq’s Ministry of Foreign Affairs announced the signing of a memorandum of understanding (MoU) with Turkmenistan to enhance cooperation in the field of energy and facilitate gas imports to meet both countries’ growing energy demands

Tenth sanctioned tanker delivers cargo from Arctic LNG 2 to Chinese port

A tenth sanctioned LNG carrier has delivered a cargo from Russia’s Arctic LNG 2 facility to China’s southern Beihai LNG terminal.

South Korea scales back fuel tax cuts amid inflation and fiscal concerns

The tax cuts were originally introduced as a temporary measure to ease the burden of rising living costs, but they have become a recurring feature of the budget in recent years.

Petronas and Oman’s OQEP forge oil and gas partnership across Middle East, Southeast Asia

Petroliam Nasional Bhd (Petronas), through its upstream arm Petronas Carigali Sdn Bhd, has signed a memorandum of understanding (MoU) with OQ Exploration and Production New Ventures LLC (OQEP) of Oman to jointly explore oil and gas opportunities

Andaman gas find signals fresh momentum in India’s deepwater exploration

India’s latest gas discovery in the under-explored Andaman-Nicobar Basin could become a turning point for the country’s domestic upstream production and energy security

Iran deepens oil discounts to China amid tougher sanctions, says Kpler

Iran has increased the discount on its crude oil exports to China eightfold since March as tighter US embargo and the return of UN sanctions complicate the logistics of its shipments, a senior commodity analyst at data and analytics firm Kpler said.

UK’s Pharos starts $36mn Vietnam drilling plan

UK-based independent oil and gas firm Pharos Energy has begun a six-well drilling campaign off the coast of Vietnam, aimed at boosting output from existing fields and exploring new development prospects.

Saudi shipping major Bahri confirms 10-year crude transport deal with South Korea’s S-Oil

Under the newly announced agreement, Bahri will transport crude oil on very large crude carriers from the Arabian Gulf and the Red Sea to the port of Onsan in South Korea.

Vietnam’s LNG-to-power push is running into a supply-chain and policy brick wall

Vietnam’s accelerating pivot towards LNG gas as a transition fuel has long been billed as a pragmatic middle path by Hanoi.

Pertamina and private fuel retailers yet to finalise non-subsidised fuel supply deal

Pertamina Group and private fuel station operators have yet to reach an agreement on the supply and pricing of non-subsidised fuel, following weeks of negotiations

MariEnergies announces new oil and gas discovery in Pakistan's Sindh

MariEnergies has announced a new oil and gas discovery from its exploratory drilling at the Shawal-1 well, located within the Mari Development and Production Lease (Mari D&PL) area in Sindh Province, Pakistan

India’s opposition slams Modi over Trump’s Russia oil claim

Indian National Congress leader Jairam Ramesh in an X post criticised Prime Minister Narendra Modi for staying silent over US President Donald Trump’s repeated claims that India would cut back on oil imports from Russia.

India continues to buy Russian oil

BP named top bidder for South Korea’s offshore gas project

British energy giant BP has reportedly been chosen by the Korea National Oil Corporation (KNOC) as the preferred bidder to jointly develop South Korea’s deep-sea oil and gas resources in the East Sea.