Tag Archives: Asia

Oil drillers in China set a new record for well depth, drilling 9,396 meters into the ground for what has become the deepest oil well in Asia, Chinese media have reported. The record well is part of a new phase in the development of an oil field in the Taklamakan …

PetroChina announced on Friday that it has completed drilling a well at a depth of 9,396 meters in Tarim Basin, northwest China’s Xinjiang Uygur Autonomous Region, making it the deepest horizontal well in Asia. It marks the Tarim Oilfield entering a new phase of oil and gas exploration at a …

Saudi Arabia’s oil giant Aramco will supply next month the full contracted volumes of crude to at least four refiners in North Asia, sources familiar with the plans told Reuters on Friday. Earlier this week, Saudi Arabia raised the official selling prices (OSPs) for most of its crude going to …

Saudi Aramco raised the official selling price for the crude oil it exports to Asia and Europe for yet another month, with the flagship Arab Light to sell in April for $0.50 more than in March. The price hike for Arab Heavy was even more pronounced, at $2.50 per barrel, …

Japan and a group of 10 other countries in Asia have agreed to pursue “practical pathways” for carbon neutrality through coordinated steps such as developing hydrogen supply chains and setting decarbonization standards while ensuring energy security. The agreement was reached as the group of 11 partner countries on March 4 …

Europe is on track to import this month the highest volumes of diesel from the Middle East and Asia in seven years as the EU turns to alternative supply after the ban on imports of Russian diesel and other fuels took effect on February 5. Diesel and gasoil arrivals to …

Asia will for the first time use half of the world’s electricity by 2025, even as Africa continues to consume far less than its share of the global population, according to a new forecast released Wednesday by the International Energy Agency, IEA. Much of Asia’s electricity use will be in …

The price of Russia’s flagship Urals oil blend is no longer set by Europe but by Asia, which has become the largest market for the commodity, Rosneft’s chief executive Igor Sechin said at the India Energy Week. “If Russian oil does not enter the European market, then there is no …

Energy companies in Asian emerging markets are returning to the market for liquefied natural gas (LNG) cargoes as prices have fallen to their lowest in more than a year. Buyers in Thailand, India and Bangladesh have been on the sidelines for months as prices soared following Russia’s invasion of Ukraine, …

Saudi Arabia, the world’s largest oil exporter, may trim prices for crude grades sold to Asia for a fourth straight month in March, amid low physical oil premiums, as oversupply worries linger despite expectations of demand recovery in China. State oil company Saudi Aramco may lower the official selling price …