Tag Archives: Asia

Spot prices for liquefied natural gas in Asia are trading at a consistent premium over the European benchmark for the rest of this year, signaling that competition for the fuel could tighten if demand rebounds. Exports from the US are currently more profitable to Asia in July, August and September, …

For Turkmenistan, energy cooperation with China has injected momentum for the natural gas-rich country’s export diversity strategy and secured a stable and huge market. It has also unlocked potential in areas including green energy, natural gas utilization, energy technologies and equipment to enhance cooperation across the industrial chain. Turkmenistan is …

China Petroleum & Chemical Corporation (“Sinopec”) has initiated the drilling of Project Deep Earth 1-Yuejin 3-3XC Well on May 1 in the Tarim basin, Xinjiang Uyghur Autonomous Region. With a design depth of 9,472 meters, it will be the deepest oil and gas well in Asia and a breakthrough of …

State oil giant Saudi Aramco will supply full crude contract volumes loading in May to several North Asian buyers despite its pledge to cut output by 500,000 barrels per day, several sources with knowledge of the matter said on Monday. This comes after the Organization of the Petroleum Exporting Countries …

Middle East oil exporters are expected to continue to lose market share in some Asian countries, particularly in price-sensitive India, amid the 1.66 million b/d voluntary cuts by OPEC+, cheap Russian barrels and higher priced Dubai-linked cargoes. Although exports from seven major oil producers in the Middle East rose 0.6% …

When earlier this year, prices slumped following the series of bank collapses in the United States, their subsequent recovery was attributed to one factor: China. The world’s largest oil and gas importer and Asia’s biggest economy, China, has become a staple in analysts’ oil and gas price forecasts. It is …

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, …