Asia Pacific

Crude Oil , Tankers

Chinese Buyers Snap Up US Oil at Widest Discounts Ever

WTI discounts are $6 to $7 a barrel, increasing pressure on producers to shut in wells.

April 1, 2020

Liquefied Natural Gas (LNG) , Tankers

Laden LNG Tanker Heads to China from US, First Since March 2019

Shipment comes as China returns to work and increases its demand for power.

March 30, 2020

Technology

Aker Solutions Secures Brownfield Services Contract in Brunei

Aker Solutions, in a joint venture with PTAS Sdn Bhd, has signed a five-year agreement on March 30 to provide offshore maintenance and modification services to Brunei Shell Petroleum (BSP).

March 30, 2020

Exploration & Production , Seismic

Searcher Seismic Study to Assist Offshore Timor-Leste Bid Round

Searcher reached a marketing and sales agreement with Timor-Leste’s Petroleum Authority, Autoridade Nacional Do Petroleo E Minerals (ANPM) on March 25 for its Offshore Timor-Leste data and study package.

March 27, 2020

Seismic

Seismic Firm Polarcus’ Project Cancellations Highlight Oil Price Slump

Polarcus Ltd., which operates ships that search for offshore oil and gas, announced two project cancellations on March 23 that will reduce its fleet utilization next quarter, highlighting the effects of the oil price slump on the energy services sector.

March 23, 2020

Discoveries

CNOOC Makes Large-sized Discovery In Bohai Bay

The company said the discovery well was drilled and completed at a depth of 1,596 m and encountered oil pay zones with a total thickness of about 20 m.

March 16, 2020

Logistics

Data Gumbo Blockchain Network Expands To Geothermal Drilling In Indonesia

Air Drilling Associates (ADA), a leading provider of specialized drilling and project management services to the petroleum and geothermal drilling industry, has adopted GumboNet, the company’s massively interconnected blockchain network.

March 11, 2020

Crude Oil , Trade , International

Oil Prices Jump After Rout On Stimulus Hopes

Russia also signaled that talks with OPEC remained possible with its oil minister, Alexander Novak, saying he has not ruled out joint measures with OPEC to stabilize the market.

March 10, 2020

Business , Unconventional , Crude Oil

US Shale Producers Prepare To Adjust Amid Volatility, Coronavirus

Continued fears about the coronavirus, demand uncertainty and OPEC moves are adding to a growing list of challenges for U.S. shale players.

March 9, 2020

Crude Oil , Trade , International

‘Crazy’ Saudi Oil Price Cuts Seen Reigniting Market Share War

The world's top producers including Saudi Arabia, Russia and other Middle East producers were last locked in a market share war between 2014 and 2016.

March 9, 2020