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oil and gas news
Capital Expenditure in Petronas facing possible cut due to low oil prices In this current situation, Affin Hwang Capital research found that Petronas is bound to reduce its capex, a move that could put pressure on the Malaysian oil and gas industry. The financial company further stated that Petronas has yet shown signs of significant...
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A pair of individuals were reportedly injured when an LTS-3000 crane boom apparently collapsed while working on a heavy-lift pipelay vessel under Larsen & Toubo (L&T) company on a development project off India’s west coast. The Cluster-8 development project also saw the fall of an offshore jacket where the crane had collapsed.  There were about...
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On Wednesday, the World Health Organisation (WHO) announced that COVID-19 is officially a pandemic, infecting over 126 000 people worldwide and killing more than 4600 individuals.  The news breaks only hours after Shell reveals that one of its’ staff in the Aberdeen, UK headquarters was tested positive for the virus. The company further advised those...
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Chief Executive of UK North Sea Trade Association Oil & Gas UK (OGUK), Deidre Michie,  makes the call to minimise costs and uncertainty for the many delegates. The key event “Share Fair” is set to run on the 24th March in Aberdeen, Scotland. However, it has now been rescheduled to 16th September in an email...
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The most recent US-Iran political conflict saw much tension to the Iranian oil facility. Iran, closed with exports of 500,00 bl/d average since May 2019 when sanctions were ended by the US government. Verisk Maplecroft reported the gradual change had a massive impact on the country’s economy.   However, the energy world was then greeted by...
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In the most recent data collected, Pakistan stands at 152 on the United Nation’s Human Development Index (HDI). The HDI is a measure of a country’s growth that encompass the people’s average life span, accessibility to education as well as decent standards of living. It is only right for the nation’s leader, Prime Minister Imran...
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SapuraOMV Upstream has started production of gas on its Larak field, a maiden project on Block SK 408 production, located at Sarawak in East Malaysia. The SK 408 fields were originally discovered during a 2014 drilling campaign. The project is at the initial development phase where commercialisation of the Gorek, Larak and Bekong fields are...
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The energy industry in Indonesia is up for some big changes, as the country has signed 11 business deals worth 314.9 trillion rupiahs ($23 billion) with the United Arab Emirates. These deals involve multiple investments in energy and other sectors.  The two countries signed multiple memorandums in the presence of Mohamed bin Zayed al Nahyan,...
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Japanese petroleum giant JX Nippon has commenced oil production from a newly installed floating production, storage and offloading vessel at the Layang field off Malaysia. The partnership between the giant’s subsidiary in Malaysia and Petronas Carigali, which started from 3rd December 2019, is being handled by Helang FPSO, a company owned by Yinson Holdings. The...
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An offshore exploration well has been spudded by Indonesia’s Medco Energi at its multi-field oil and gas complex in Block B in the Natuna Sea. In 1986, the Natuna Sea was recognised officially as its’ own entity by the International Hydrographic Organisation as it was previously acknowledged as part of the South China Sea. The...
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