Tag Archives: Asia

China National Offshore Oil Corp (CNOOC) announced on Wednesday that the Enping 15-1 platform, Asia’s largest offshore oil production platform, was put into operation in the Pearl River Mouth Basin in south China’s Guangdong Province. The platform, about 160 meters tall and weighing over 30,000 tonnes, is the largest offshore …

Asian share markets were mixed on Tuesday and oil was weaker as investors sought to digest the economic implications of China’s COVID policy adjustments and a rescue package for the country’s struggling property sector. MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was up 0.1%, following mild losses for …

Saudi Arabia’s state oil company has assured several buyers in Asia it will deliver full contracted volumes in December despite the OPEC+ decision to cut production, Reuters has reported, citing unnamed sources. The assurance comes despite a commitment on the part of the Kingdom to reduce its production to contribute …

China and India will significantly expand their LNG import infrastructure over the next five years with the pair, led by China, set to record the highest LNG regasification capacity additions in Asia. China is set to register the highest liquefied natural gas (LNG) regasification capacity additions in Asia between 2022 …

Saudi Aramco has told at least seven customers in Asia they will receive full contract volumes of crude oil in November ahead of the peak winter season, several sources with knowledge of the matter said on Monday (Oct 10). The producer is keeping supplies to Asia steady despite likely production …

Saudi Arabia cut oil prices for customers in Asia and Europe as coronavirus lockdowns and sagging economies cool energy demand in the two regions. State-controlled Saudi Aramco lowered its key Arab Light grade for next month’s shipments to Asian refineries from a record to $5.85 a barrel above the Middle …

Russia will respond to price caps on Russian oil by shipping more supply to Asia, its energy minister Nikolai Shulginov told reporters at the Eastern Economic Forum in Vladivostok on Tuesday. “Any actions to impose a price cap will lead to deficit on (initiating countries’) own markets and will increase …

Asia is giving the once-shunned nuclear power industry a second lease on life, thanks to the global energy crisis. Governments in Japan and South Korea are removing anti-nuclear policies, while China and India are looking to build more reactors to avoid future supply shortages and curb emissions. Even developing nations …

Asian liquefied natural gas prices extended gains as concern mounts that Russia’s announcement of maintenance on a key pipeline to Europe will further tighten global supplies. Producers offered LNG spot cargoes for winter above $60 per million British thermal units on Monday, traders said. The Japan-Korea Marker spot benchmark slipped …

Asian buyers have bought a substantial amount of cheap U.S. crude on the spot market, suggesting that demand for Middle Eastern grades will be lower in the immediate future, Bloomberg reports, citing traders. According to them, South Korean and Indian refiners had bought some 16 million barrels of U.S. crude …