Philippines evacuates thousands of people as super typhoon Man Yi approaches
On Saturday, the Philippines evacuated thousands of people and cancelled dozens flights as a super-typhoon threatened heavy rains and strong winds that could cause floods and storm waves. The storm Man-Yi, which was packing winds of up to 185 kph 115 mph…
Cargill estimates that China's palm oil demand in 2024 will drop 30% year-on-year.
A Cargill executive said that the demand for palm products in China will drop by 30% between 2024 and 2019. This is because high prices have made it less appealing than soyoil, while vegetable oil demand stagnates. The benchmark palm oil price in Malaysia has risen over 30% this year…
What we can learn from China's latest military exercises around Taiwan
China's day of wargames around democratically-governed Taiwan was Monday a warning against'separatist actions. Although they appeared shorter, the drills were intense and fast-paced in their simulation of attacks and deployments of ships and aircraft.
Malaysian PM: Petronas exploration in South China Sea to continue
Anwar Ibrahim, Malaysia's prime minister, reiterated on Tuesday that the state-owned energy company Petronas would continue to conduct oil exploration in Malaysia's Exclusive Economic Zone (EEZ) of the South China Sea despite China's objections.
Malaysia won't stop South China Sea exploration, despite China protests says PM
Anwar Ibrahim, Malaysia's Prime Minister, said that the country would not stop oil and gas exploration on the South China Sea in spite of Beijing's claims that Malaysia had infringed on its territory. Anwar, who is currently in Russia on an official visit…
CNOOC China posts record profit in the first half of 2018 on robust output growth
CNOC, the Chinese offshore oil-and-gas major, posted a record profit for the first half of this year on Thursday. This was largely due to higher oil prices and increased output. CNOOC reported in a filing to the Hong Kong Stock Exchange…
Equinor to close Hanoi office after halting Vietnam offshore wind plans
A company spokesperson revealed that Norway's state controlled energy giant Equinor had cancelled plans to invest into Vietnam's offshore sector. This is a blow for Vietnam's green power aspirations. According to the World Bank Group's report…
PetroVietnam Beats Q1 Crude Output Target
Vietnam's state oil firm PetroVietnam said on Monday its crude oil output was 2.6 million tonnes in the first quarter this year, 12.6% higher than its target.The figure, however, is lower than the company's crude oil output of 2.74 million tonnes in the same period last year.
Sinopec Starts Up $6B Zhanjiang Refinery Complex
Top Chinese state refiner Sinopec Corp said on Tuesday it had started up a $6 billion new refinery and petrochemical plant in south China, making it the country's third integrated complex to start operations in the past 18 months or so.The Sinopec venture, situated in coastal city of Zhanjiang,
Chinese Seismic Vessel Returns to Waters off Vietnam Amid Virus 'Distraction' Charges
A Chinese ship embroiled in a standoff with Vietnamese vessels last year has returned to waters near Vietnam as the United States accused China of pushing its presence in the South China Sea while other claimants are pre-occupied with the…
LNG Tanker Diverted from China in Sign of Weaker Demand
A liquefied natural gas (LNG) tanker that had been heading to China has been diverted, data intelligence firm Kpler and two industry sources said on Tuesday, probably due to lower demand for the fuel as businesses are hit by the coronavirus…
Malaysian State Open to Buying Petronas Stake
Malaysia's Terengganu state said on Wednesday it was open to buying a stake in national energy giant Petronas, after Prime Minister Mahathir Mohamad said he was considering such a sale to raise funds for his heavily-indebted federal government.Petronas…
CPIH, Equinor Team Up on Offshore Wind
Chinese power giant China Power International Holding (CPIH) and Norwegian energy firm Equinor have inked a memorandum of understanding (MoU) to cooperate on offshore wind projects off China and Europe.“China is rapidly increasing its use of renewables and natural gas.
China, Philippines: 'Bigger Step' Possible Offshore
Chinese President Xi Jinping said China and the Philippines could take a "bigger step" in the joint development of oil and gas resources in the South China Sea if they can "properly" handle their dispute over sovereignty.Xi made the remarks on Thursday in a meeting in Beijing with Philippine Pr
CNOOC Earnings on the Rise
China's national offshore producer CNOOC Ltd reported a near 19% rise in first-half profit on Thursday, as higher sales of oil and gas offset weaker global oil prices.The listed arm of state-owned China National Offshore Oil Corp said that…
Chinese Ship Returns to Vietnam's EEZ
A Chinese survey ship returned to Vietnam's exclusive economic zone off its coast on Tuesday, ship tracking data showed, less than a week after it left the area where vessels from the two countries were locked in a month-long standoff.The…
Vietnam: Chinese Vessel Violated its Sovereignty
Vietnam on Friday accused a Chinese oil survey vessel and its escorts of violating its sovereignty and demanded that China remove the ships from Vietnamese waters.Vietnam and China have for years long been embroiled in a dispute over the…
COOEC-Fluor Completes Module Fabrication
Texas-based multinational engineering and construction firm Fluor Corporation announced that its joint venture COOEC-Fluor Heavy Industries fabrication yard has completed the central and wellhead platforms for CNOOC’s Dongfang 13-2 Gas…
Rising US Oil Clout on Show in Houston
A glance at the attendee list at one of the world's largest energy industry events in Houston this week left little question about the growing influence of the United States over global oil politics.Present: top U.S. diplomat Mike Pompeo.
Indonesia Okays Empyrean Plan for Mako Gas
Indonesia has approved the development plan for the Mako gas field, Empyrean Energy PLC and Coro Energy PLC said.Indonesia’s Ministry of Energy and Mineral Resources (MEMR) has approved the plan of development (POD) for the Mako gas field at the Duyung production sharing contract (PSC)…
