Asia Pacific

Companies & Finance

India’s Reliance sees drops in production and profit

Gas production from Reliance Industries’ troubled Krishna Godavari D6 (KG-D6 Block) between April and December 2012 fell by 37% year on year, while crude and condensate output dropped by 40% and 43%, respectively, the Indian company announced on Friday.

18 January 2013
Exploration & Production

Myanmar kicks off delayed second bidding round

Myanmar has invited bids for 18 onshore blocks as the regime looks to lure foreign investment back to one of Asia’s last hydrocarbon frontiers.

18 January 2013
Supply & Demand

South Korea’s 2012 LNG imports flatline

South Korea’s rapid LNG import growth looks to have slowed in 2012, possibly signalling the country’s transition into a mature market with little further prospect for growth.

16 January 2013
LNG

LNG roundup: Spot prices surge on Asian and South American interest

Record-high prices of $20 per million Btu (MMBtu) remain a possibility this winter as competition for spot LNG cargoes intensifies in northeast Asian markets.

16 January 2013
Companies & Finance

Cove deal could delay PTTEP’s US shale gas ambitions – expert

Thailand’s PTT Exploration and Production is eyeing United States shale gas assets to boost production and diversify supply sources, but a recent large deal in Africa may mean it will not make a purchase this year, an industry expert has told Interfax.

16 January 2013
Policy & Regulation

Overlapping claims agreement urgently needed – Thai Energy Ministry

An agreement between Thailand and Cambodia on the disputed overlapping claims area (OCA) in the Gulf of Thailand is urgently needed to meet Thailand’s growing demand for gas, an official with the country’s Ministry of Energy has said.

16 January 2013
Policy & Regulation

New ASEAN head faces more assertive China

Expectations that ASEAN’s newly installed General Secretary Le Luong Minh will apply more pressure on China to enter multilateral talks on contentious regional issues are premature.

15 January 2013
Policy & Regulation

Taiwan officials urge caution over proposed nuclear phase-out

Taiwan’s government has warned the proposed elimination of nuclear power from the country will have economic consequences that should be thoroughly considered before any decisions are made to hasten its removal from the energy mix.

15 January 2013
Policy & Regulation

Indonesia names new head of upstream regulator

Rudi Rubiandini, deputy head of Indonesia’s Ministry of Energy and Mineral Resources (MEMR), has been appointed chief executive of the country’s interim upstream oil and gas regulator SKMigas, local media reported.

14 January 2013
Supply & Demand

Tepco December LNG purchases cap record consumption

Tepco imported 2.15 million tons (mt) of LNG in December, helping to push yearly imports at Japan’s largest power utility to a record 24.8 mt.

14 January 2013
Exploration & Production

Roc Oil finds hydrocarbons offshore Malaysia

Australian Stock Exchange-listed Roc Oil announced in a filing on the Australian bourse on Monday that an appraisal well drilled in the Balai Cluster off the coast of Sarawak in east Malaysia contains about 87 m of hydrocarbon pay spread throughout several zones.

14 January 2013
Companies & Finance

Petronet’s profits inch up, small rises expected for others too

India’s state-controlled LNG terminal operator Petronet LNG saw its net profit grow steadily in the last nine months of 2012, despite an even faster rise in net sales and income from operations, according to results posted on Monday by the Bombay Stock Exchange.

14 January 2013
LNG

Gail completes India LNG terminal commissioning

Gail has completed commissioning work on India’s third LNG terminal, the state-run company announced on Thursday.

11 January 2013
Supply & Demand

Two of Asia’s largest buyers team up for LNG purchase

Two of Asia’s largest importers have reached an agreement with Italy’s Eni for the delivery of 28 LNG cargoes, marking the first time Asian buyers have teamed up to jointly purchase supplies of the fuel.

11 January 2013
Exploration & Production

Petronas’ K5 study furthers sour gas ambitions

Malaysia’s state-owned oil and gas company Petronas is hoping a study of the prospective K5 gas block offshore Sarawak will provide answers on how best to exploit hydrocarbon fields with high concentrations of carbon dioxide.

11 January 2013
LNG

India’s third LNG terminal starts up

India’s third LNG terminal has been commissioned and will begin importing supplies contracted under three-year sales agreements while also undergoing expansion work, state-owned operator Gail announced on Thursday.

10 January 2013
Supply & Demand

Japanese LNG imports expected to grow in 2013

Despite growing optimism that Japan may restart several of its idled reactors this summer, some analysts are predicting the country will not break its growing dependence on imported LNG anytime soon, and could even import larger volumes in 2013 than the previous record-breaking year.

10 January 2013
Exploration & Production

Bangladeshi government will connect gas buyers to new fields in their proximity, says PM

Bangladeshi Prime Minister Sheikh Hasina assured industrial gas buyers earlier this week that the government will connect them to any new gas fields discovered in their proximity, the Financial Express reported this week.

10 January 2013
Policy & Regulation

Indian firms buoyed by gas price report, but changes remain uncertain

A week after a government-appointed committee urged India to nearly double its fixed gas prices, the prospect of higher domestic rates continues to support the share prices of India’s largest oil and gas companies.

9 January 2013
Supply & Demand

Japanese business lobby calls for accelerated nuclear restarts

Japan’s business lobby has called on the new government to “immediately identify a roadmap for restarting nuclear power plants,” in a document sent to Interfax which demands the restructuring of the country’s stalled energy policy.

9 January 2013

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