News

  • JX Nippon starts producing oil from Layang field off Malaysia

    Japanese JX Nippon Oil & Gas Exploration has started commercial oil production from the Layang field located offshore Malaysia.   JX Nippon said last week that its subsidiary, JX Nippon Oil & Gas Exploration (Malaysia), and its partner Petronas Carigali started production from the Layang…

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  • Gunvor remains largest trader of LNG

    According to Reuters, by the end of 2019 Gunvor will have delivered 45% more LNG than it did in 2018, maintaining a hold on its ‘largest independent LNG trader’ status.   The 45% increase accounts for a rise in supply from the company from 11…

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  • Beach farming into frontier permit offshore New Zealand

    Beach Energy Ltd. has reached agreement with OMV GSB Ltd to acquire a 30% participating interest in exploration permit PEP50119 in the Great South basin offshore New Zealand.   Under the agreement, Beach will acquire a 30% participating interest in the permit in exchange for…

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  • US Chamber study lists impacts of banning fracking domestically

    Article by Nick Snow   Banning hydraulic fracturing in the US would eliminate 19 million jobs between 2021 and 2025 while reducing Gross Domestic Product by US$7.1 trillion between 2021 and 2025, a study by the US Chamber of Commerce’s Global Energy Institute (GEI) concluded…

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  • PTTEP Sets US$24 Billion Investment Budget

    PTTEP has set an investment budget of US$24.61 billion from 2020 to 2024.   The investment budget will comprise US$14.23 billion in capital expenditure (CAPEX) and US$10.38 billion in operating expenditure (OPEX), PTTEP revealed.   In 2020 alone, the company set a CAPEX budget of…

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  • Tullow takes 10 pct in Dussafu block offshore Gabon

    Tullow Oil has become a party to the Dussafu licence joint operating agreement in Gabon.   Dussafu is operated by BW Energy.   As previously reported, in March 2019 Tullow exercised its 10% back-in right to the Dussafu production sharing contract (“PSC”). The exercise of…

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  • API releases initial standard for safe lay-flat hose operations

    The American Petroleum Institute has issued its first safety and environmental protection standard covering lay-flat hoses, high-pressure equipment which upstream operators use to transport associated water from production operations.   Compliance with Recommended Practice 15WT will assure operators and users that they are deploying the…

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