(Wood Mackenzie, 29.Oct.2024) — The electrification of the energy system is the central plank of the energy transition. In Wood Mackenzie’s base case, displacing fossil fuels with more energy-efficient electricity leads to global emissions peaking in 2027 and subsequently falling by 35% through to 2050. Global final energy demand is […]
Category: Asia
Asia energy
CNOOC Reports Record High Net Production and Net Profit in 3Q:24
(CNOOC Limited, 28.Oct.2024) — CNOOC Limited and 80883 announces its operating results for the third quarter of 2024. In the first three quarters of 2024, CNOOC Limited continued to increase its reserves and production, while effectively controlling costs and enhancing efficiency. Net production and net profit rose remarkably year over […]
LatAm NRG Matters: Highlights, Heard for the Week Ended 25 Oct. 2024
(Energy Analytics Institute, 25.Oct.2024) — LatAm NRG highlights, headlines and “heard on the street,” for the week ended 25 Oct. 2024. —Argentina: Oil production reached 740.8 Mb/d in Sep. 2024, up 14.7% y-o-y, while gas production reached 147.1 MMcm/d, up 2.9% y-o-y, the Secretariat of Energy said. —Argentina: Argentine gas […]
Venezuela’s energy minister Delcy RodrĂguez talks energy during stop in New Delhi
PANAMA CITY, PANAMA (Energy Analytics Institute, 25.Oct.2024) — Venezuela’s Executive Vice President Delcy RodrĂguez held a meeting with her Indian counterpart Jagdeep Dhankhar in New Delhi, India to evaluate the participation of the giant Asian country in the development and establishment of new joint projects in Venezuela. During her visit, […]
CNOOC Says Xijiang 30-2 Oilfield Xijiang 30-1 Development Starts Production
(Energy Analytics Institute, 21.Oct.2024) — CNOOC Limited and 80883 announced that the Xijiang 30-2 Oilfield Xijiang 30-1 block development project commenced production ahead of schedule. The project is located in eastern South China Sea in an average water depth of about 98 m, CNOOC said 21 Oct. 2024 in an official […]
BW LPG Comments on Performance of Product Segment
(Energy Analytics Institute, 10.Oct.2024) — BW LPG Limited provided an update on the performance from its BW Product Services’ segment during the third quarter 2024. For the quarter ended 30 Sep. 2024, BW Product Services reported an estimated gross profit of $71mn, which was mainly a result of $86mn of […]
CNOOC Brings Online Bozhong 19-2 Oilfield Development Project
(Energy Analytics Institute, 7.Oct.2024) — CNOOC Limited and 80883 said the Bozhong 19-2 Oilfield Development Project has started production. Peak production from the project is expected to be approximately 18,800 b/d of heavy crude oil in 2025, CNOOC said 7 Oct. 2024 in an official statement. The project is located […]
Winter is Coming in Europe as Geopolitical Risks Rise: Rystad EnergyÂ
(Rystad, 4.Oct.2024) — Here is Rystad Energy’s gas and LNG market update from analyst, Christoph Halser: “Norway concludes its gas maintenance season with some disruptions, while hurricanes add further risks to U.S. supply. This comes at an untimely moment, as cold temperatures across Europe are expected to cause a short-term […]
MODEC Announces Establishment of OFS India
(Energy Analytics Institute, 4.Oct.2024) — MODEC, Inc. announced that Offshore Frontier Solutions Pte. Ltd. (OFS), a MODEC Group company in Singapore, is partnering with Toyo Engineering India Private Limited to establish a global capability center in Bengaluru, India. This joint venture company, TOYO MODEC OFS India Private Limited (OFS India), […]
Hess gets HSR clearance for Chevron merger
NEW YORK CITY, NEW YORK (Hess Corp., 30.Sep.2024, Words: 381) — Hess Corporation announced that the Federal Trade Commission (FTC) antitrust review of the Chevron-Hess merger has been completed, satisfying one of the closing conditions for the transaction. “We are very pleased that our merger with Chevron has cleared this significant regulatory hurdle,” said CEO John Hess. […]
CNOOC Brings Shenhai-1 Phase II Development Online
(Energy Analytics Institute, 27.Sep.2024) — CNOOC Limited said the Shenhai-1 Phase II Natural Gas Development Project has commenced production. The project is located in the Qiongdongnan Basin, northern South China Sea, with an average water depth of approximately 900 m, CNOOC said 27 Sep. 2024 in an official statement. The main […]
TotalEnergies to Supply 200,000 t/y of LNG to HD Hyundai until 2033
(TotalEnergies, 24.Sep.2024) —  In line with its strategy to grow its long-term liquefied natural gas (LNG) sales, TotalEnergies announces the signing of a Heads of Agreement (HoA) with HD Hyundai Chemical for the delivery of 200,000 tons of LNG per year for 7 years starting from 2027. Thanks to this […]
China Provides Some Respite as Oil Prices Rise
(Rystad, 24.Sep.2024) — Oil prices are on the rise again, but OPEC’s production cut unwinding still seems far off. Here is Rystad Energy’s oil macro update from Global Market Analysis Director, Claudio Galimberti: “The Chinese government’s announcement of its largest stimulus package since the pandemic, combined with the sudden rise […]
World Manufacturing Convention 2024 Showcases Next-Gen Technologies
(World Manufacturing Convention, 21.Sep.2024) — As technology and innovation converge, a grand feast celebrating the manufacturing industry is commencing. On 20 Sep. 2024, the 2024 World Manufacturing Convention opened its doors at the Hefei Binhu International Convention and Exhibition Center in Hefei, Anhui Province. As a premier event in the manufacturing sector, this […]
US-China Circular Economy Forum Tackles “White Pollution”
(Niutech, 20.Sep.2024) — On 6 Sep. 2024, the inaugural U.S.-China Circular Economy Cooperation Forum was held in Beijing. The forum, guided by the U.S.-China Climate Action Working Group Circular Economy Task Force, was co-organized by the China Circular Economy Association and the US-China Business Council. The forum brought together approximately 460 distinguished guests from […]
Thai Delegation Explores Collaboration Opportunities in Green Economy
PHOTO CAPTION:Thai Delegation with the Ankeny Chamber of Commerce and the Greater Des Moines Partnership.
TotalEnergies to Supply 1.25 Mt/y of LNG to CNOOC until 2034
(TotalEnergies, 19.Sep.2024) — In line with its strategy to grow its long-term liquefied natural gas (LNG) sales, TotalEnergies announces a 5-year extension of its sales and purchase agreement (SPA) with CNOOC, for the delivery of 1.25 million tons of LNG per year to China until 2034. Thanks to this agreement, TotalEnergies […]
Strohm’s TCP Jumpers Installed Offshore Malaysia
(Energy Analytics Institute, 18.Sep.2024) — Strohm has overseen the successful installation of its thermoplastic composite pipe (TCP) Jumper technology at the Deepwater Sabah project offshore Malaysia. The technology was installed by contractor McDermott on behalf of an international operator. It is the second time the firm’s TCP product has been […]
Woodside and JERA Ink Deal for Long-Term LNG Supply
(Woodside, 17.Sep.2024) — Woodside has signed a sale and purchase agreement (SPA) with JERA for the long-term supply of liquefied natural gas (LNG) to Japan. Under the SPA, Woodside will supply approximately 0.4 million tonnes (six cargoes) of LNG per year over 10 years on a delivered basis, commencing in […]
FACT SHEET: US-Mexico bilateral relations
(Bureau of Western Hemisphere Affairs, 16.Sep.2024, Words: 3,670) — Mexico remains one of the United States’ closest and most valued partners, with a 2,000-mile shared border containing 47 active land ports of entry, and a shared history that has established deep cultural and people-to-people ties over 200 years of diplomatic relations. […]
Woodside Execs Visit NYSE in First Equity Market Briefing
(Energy Analytics Institute, 16.Sep.2024) — Woodside Energy completed its first North American equity market briefing at the New York Stock Exchange (NYSE) on 16 Sep. 2024, the Australian company’s CEO Meg O’Neill announced on LinkedIn. Woodside was initially listed on the NYSE in 2022 when the company merged with BHP’s […]
TotalEnergies Joins Japanese Fund Dedicated to Developing Low-carbon Hydrogen
(Energy Analytics Institute, 12.Sep.2024) — TotalEnergies entered as an investor in the “Japan Hydrogen Fund” at its first close, joining several major Japanese companies. The fund is dedicated to developing the low-carbon hydrogen value chain. At its launch, the fund is initially endowed with over $400mn, due to contributions from prominent […]
HD Hyundai Showcasing Eco-Friendly Future Technologies at Gastech in Houston
(Hyundai, 11.Sep.2024) — HD Hyundai will showcase the future of decarbonization and digital technologies at Gastech, the world’s largest gas exhibition. HD Hyundai has announced that it will participate in Gastech 2024, taking place in Houston, USA, from 17-20 Sep. 2024. The event is expected to host around 800 companies worldwide and attract over […]
QatarEnergy to Build 6 New QC-MAX LNG Vessels in ChinaÂ
(QatarEnergy, 9.Sep.2024) — QatarEnergy signed an agreement with China State Shipbuilding Corporation (CSSC) for the construction of 6 additional state-of-the-art QC-Max vessels, bringing the total number of LNG vessels on order under its fleet expansion program to 128, including 24 QC-Max mega vessels. The QC-Max vessels, which will be built […]
POWERCHINA Alleviates Harsh Conditions with Construction Projects
(Power Construction Corp. of China, 9.Aug.2024) — Power Construction Corporation of China continues to do its part to alleviate the harsh summer climate change challenges affecting many regions worldwide. The company’s series of construction projects and actions have enhanced the flood control and drought resistance capabilities of various regions in Americas, Africa, and Asia, improved […]
GAS Entec and AG&P to Build a Strategic LNG Terminal in the Kingdom of Jordan
(GAS Entec, 20.Aug.2024) — LNG Infrastructure company GAS Entec with its group company AG&P and local partners Issa Haddadin, together referred as Consortium, has been awarded a contract to build Sheikh Sabah Al-Ahmad Al-Jaber Al Sabah onshore regasification LNG Terminal at Port of Aqaba in the Kingdom of Jordan. The tender was awarded […]
EnerMech Secures Two Major Pipeline Pre-Commissioning ContractsÂ
(EnerMech, 19.Aug.2024) — EnerMech has been awarded two significant pipeline pre-commissioning contracts in offshore East Malaysia, marking a substantial milestone in the expansion of its critical pipeline and subsea activities within the region in both deep and shallow water environments. These contracts have been secured with two tier-one contractor clients, both […]
Rockefeller Foundation Green Power Gap
(Rockefeller, 7.Aug.2024) — The Rockefeller Foundation released a new report that calculates an 8,700 terawatt-hour (TWh) “Green Power Gap” across 72 countries in Africa, Asia, Latin America and the Caribbean, and the Middle East. Currently home to 3.8 billion people, these countries must deploy 8,700 TWh of clean power by 2050 – approximately twice the United States’ annual generation – […]
TotalEnergies Divests Shares in Total Parco in Pakistan
(TotalEnergies, 6.Aug.2024) — TotalEnergies signed an agreement to sell its 50% stake in Total PARCO Pakistan Limited (TPPL) to Gunvor Group. The transaction reflects the selective strategy of TotalEnergies in Marketing & Services focused on core geographies with growth and transitioning opportunities. TPPL is a 50/50 joint venture between TotalEnergies […]
Allison Forms Strategic Partnership to Expand Global Mining Presence
(Allison, 18.Jul.2024) — Allison Transmission has formed a new strategic partnership with Lingong Heavy Machinery Co. Ltd. (LGMG), a prominent Chinese mining equipment manufacturer, to provide industry-leading mining vehicles to customers across the globe. As a next step in the companies’ long-term partnership, LGMG has integrated Allison 6625 Wide Body Dump […]
PETRONAS, Enilive and Euglena Take FID on Biorefinery in Malaysia
(Eni, 26.Jul.2024) — Petroliam Nasional Berhad (PETRONAS), Enilive S.p.A (a company directly controlled by Eni S.p.A.), and Euglena Co., Ltd. have reached the final investment decision (FID) to develop a biorefinery which will be located within PETRONAS’ Pengerang Integrated Complex (PIC), Johor, Malaysia. The three companies will establish a joint venture […]
Woodside to Acquire Tellurian for $1/share, Create LNG Powerhouse
(Woodside, 22.Jul.2024) — Woodside has entered into a definitive agreement to acquire all issued and outstanding common stock of Tellurian including its owned and operated US Gulf Coast Driftwood LNG development opportunity. The consideration for the transaction is an all-cash payment of approximately $900mn, or $1.00 per share of outstanding Tellurian […]
JinkoSolar to Form a JV with RELC and VI in Saudi Arabia
(JInkoSolar, 16.Jul.2024) – JinkoSolar Holding Co., Ltd. announced that its indirectly majority-owned subsidiary, JinkoSolar Middle East DMCC, has entered into a shareholders agreement (the “Agreement”) with Renewable Energy Localization Company (RELC), a wholly-owned subsidiary of Public Investment Fund (PIF) and the national champion in the manufacturing of renewable and green energy technologies, […]
CNOOC Mades Major Exploration Breakthrough in Bohai Bay
(CNOOC, 15 July 2024) – CNOOC Limited has achieved a major exploration breakthrough in Mesozoic buried hill offshore Bohai Bay. Longkou 7-1 oilfield is located in eastern Bohai Bay, with an average water depth of about 26 m. The discovery well LK7-1-1 was drilled and completed at a depth of […]
Scientists: Epoch Marked by human impact — the Anthropocene — Began in 1950s
(AP, 11.Jul.2024) — From climate change to species loss and pollution, humans have etched their impact on the Earth with such strength and permanence since the middle of the 20th century that a special team of scientists says a new geologic epoch began then. Called the Anthropocene — and derived […]
Woodside and CPC Taiwan Ink Long-term Offtake Deals
(Woodside, 11.Jul.2024) — Woodside signed a sale and purchase agreement (SPA) with CPC Corporation, Taiwan (CPC) for the long-term supply of liquefied natural gas (LNG) to Taiwan. Under the SPA, Woodside will supply approximately 6 million tonnes of LNG on a delivered basis over 10 years, commencing in July 2024. Woodside […]
BW LPG on Successful Completion of Redomiciliation to Singapore
(BW LPG, 1.Jul.2024) — Reference is made to the stock exchange announcement made by BW LPG Limited on 21 June 2024 regarding the subsequent court hearing (the “Sanction Hearing”) at which the Supreme Court of Bermuda (the “Court”) sanctioned the scheme of arrangement (the “Scheme”) between the company and its […]
JinkoSolar Repurchased 4,503,178 ADSs
(JinkoSolar, 27.Jun.2024) — JinkoSolar Holding Co., Ltd. announced that as of the date of this press release, the company has repurchased a total of 4,503,178 ADSs in an aggregate amount of approximately US$110.7mn in the open market under its share repurchase program announced in July 2022 and the extended share repurchase program announced in Dec. 2023. […]
Venture Global Launches First Vessel from State-of-the-Art LNG Fleet
(Venture Global, 25.Jun.2024) — Venture Global announced the successful launch of its first LNG vessel, the Venture Gator at a ceremony which took place at the Samsung Heavy Industries shipyard in Geoji-si, South Korea. The Venture Gator is the first of nine LNG carriers in the Venture Global fleet to be completed in quick succession […]
Petrobras Says FPSO Maria Quitéria en Route to Brazil
(Petrobras, 19.Jun.2024) — Petrobras said the FPSO Maria QuitĂ©ria is currently en route to Brazil. The platform ship departed from China in May and is expected to arrive at its location in the third quarter of this year. The unit is scheduled to begin operations in the last quarter of […]
Shell Inks Deal to Acquire Pavilion Energy
(Shell, 18.Jun.2024) — Shell Eastern Trading Pte. Ltd., a subsidiary of Shell plc, has reached an agreement with Carne Investments Pte. Ltd., an indirect wholly-owned subsidiary of Temasek, to acquire 100% of the shares in Pavilion Energy Pte. Ltd. Pavilion Energy includes a global liquefied natural gas (LNG) trading business with […]
TotalEnergies Sells Subsidiary in Brunei
(TotalEnergies, 14.Jun.2024) — TotalEnergies has entered into an agreement to sell its wholly-owned subsidiary TotalEnergies EP (Brunei) B.V. to Hibiscus Petroleum Berhad, a Malaysian independent oil and gas exploration and production company, for a consideration of $259mn. The transaction is expected to close in the fourth quarter 2024. TotalEnergies EP (Brunei) […]
Nippon Steel on Construction Project for Blue Ammonia Plant in Qatar
(Nippon Steel, 14.Jun.2024) — Nippon Steel Corporation, in a joint endeavor with Sumitomo Corporation, has received orders for high-alloy seamless OCTG that it manufactures for a CCS(Note 1) project intended for a project to construct blue ammonia(Note 2) manufacturing plant (common name: Ammonia 7) that QatarEnergy (Head Office: State of Qatar), an Energy […]
Higher LNG Prices to Limit Asian Demand, WoodMac Says
(WoodMac, 12.Jun.2024) — European gas storage is forecast to reach 100% by the end of September and remain full until the end of October, with an additional 4 million tonnes per annum (mmtpa) of floating storage also accumulated according to a new report by data and analytics company Wood Mackenzie.  […]
JinkoSolar’s TOPCon Module Reaches Conversion Efficiency of 25.42%
(JinkoSolar, 11.Jun.2024) — JinkoSolar Holding Co., Ltd. (NYSE: JKS) announced a significant breakthrough in the development of its N-type TOPCon solar module. Tested by TĂśV SĂśD, the conversion efficiency for 2 m2 above large-size solar modules has reached 25.42%, setting a new record again. This further reinforces our confidence that N-type […]
TotalEnergies Increases LNG Deliveries to Asia with Two New Contracts
(TotalEnergies, 4.Jun.2024) — In line with its strategy to grow its liquefied natural gas (LNG) business, TotalEnergies announces the signing of two new LNG medium- and long-term contracts in Asia: a sales and purchase agreement (SPA) with Indian Oil Corporation (IOCL) for the delivery to India of up to 800,000 tons per year […]
BW LPG Limited 1Q:24 Financial Results
(BW, 30.May.2024) — BW LPG Limited (NYSE: BWLP, OSE: BWLPG.OL) reported a Q1 2024 Net Profit After Tax (NPAT) of $150mn, yielding an annualised return on equity of 37% with $468.5mn free cash flow generated. The Q1 operating profit was $157.8mn, and earnings per share was USD 1.07. The net […]
ADNOC Delivers Bulk Shipment of CCS-Enabled Certified Low-Carbon Ammonia to Japan
(ADNOC, 14.May.2024) — ADNOC delivered the world’s first certified bulk commercial shipment of low-carbon ammonia enabled by carbon capture and storage (CCS) to Mitsui & Co., Ltd. for use in clean-power generation in Japan. The low-carbon certification process, from production to delivery, has been conducted by TĂśV SĂśD, an internationally […]
PETRONAS Signs PSC for the Bobara Working Area, Eastern Indonesia
(PETRONAS, 14.May.2024) — PETRONAS E&P Bobara Sdn. Bhd., a subsidiary of PETRONAS, signed a Production Sharing Contract (PSC) for the Bobara Working Area located at the offshore of West Papua, Eastern Indonesia. PETRONAS has been awarded the Bobara Working Area with a total acreage of 8,444.49 square kilometers during the […]
PETRONAS Signs a 20-Year PSC Extension Deal for Ketapang Contract Area
(PETRONAS, 14.May.2024) — IPC Ketapang II Ltd. (PCK2L), a subsidiary of PETRONAS, signed a Production Sharing Contract (PSC) extension for the Ketapang Contract Area located in the Java Sea following the approval granted by the Government of Indonesia through the Ministry of Energy and Mineral Resources on 21 Dec. 2023, […]