Category: Asia

Phillips 66 to sell refining stake in Asia for $635M

Phillips 66 is ending its ties to its refining business in Asia with a deal announced Wednesday to sell its 47-percent stake in a Malaysian refinery for $635 million in cash.  More »

US-China climate deal aims to prod others to act

“This is, in my view, the most important bilateral climate announcement ever,” said David Sandalow, a former top environmental official at the White House and the Energy Department.  More »

China seen overtaking U.S. as world’s biggest oil user

Growth in oil demand to 2040 will also be driven by India, Southeast Asia, the Middle East and sub-Saharan Africa, the IEA said.  More »

Russia, China add to $400 billion gas deal with accord

Russian oil firm OAO Gazprom is negotiating the supply of as much as 30 billion cubic meters of gas annually from developments in West Siberia to China over 30 years.  More »

Shale boom redraws oil routes as Alaska ships to Korea

South Korea received this month a shipment of Alaskan oil for the first time in at least eight years and may buy more.  More »

Pirates target oil tankers in Asia route as attacks climb

Gangs of thieves armed with knives and guns are making Southeast Asian waters increasingly dangerous for small tankers carrying fuels such as gasoil or marine diesel.  More »

China cuts Saudi oil imports amid Colombia shipment boost

China reduced oil imports from Saudi Arabia even as the world’s largest crude exporter cuts prices to lure Asian customers amid intensifying competition from Colombia to Oman.  More »

India PM uses oil price slump to ease curbs deterring Chevron

India’s recently elected prime minister, Narendra Modi, has made energy security his priority.  More »

Oil tankers to China jump to nine-month high amid crude rout

The number of supertankers sailing toward China’s ports surged to a nine-month high amid speculation an oil-price slump is encouraging the world’s second-biggest crude importer to accelerate purchases.  More »

Statoil sells stake in Azerbaijan gas project

Norwegian energy company Statoil says it has sold its stake in the Shah Deniz gas project in Azerbaijan to Malaysian company Petronas for $2.25 billion.  More »

Shell begins production from its first deepwater Malaysia project

The project could eventually lead to peak production of 135,000 barrels of oil per day for a joint venture including ConocoPhillips and Shell.  More »

Missing Vietnamese tanker likely captured by pirates

If confirmed, it would be the 12th such case of piracy since April in Southeast Asia, where tankers have been hijacked, cargo stolen and later released.  More »

Murphy to sell stake in Malaysian business for $2 billion

Arkansas-based Murphy Oil Corp. will sell a 30 percent stake in its Malyasian oil and gas assets for $2 billion to Pertamina, Indonesia’s state-owned oil and gas company, Murphy announced announced Tuesday morning.  More »

In Exxon suit, judge leaves opening for Indonesian villagers

Last year, a Supreme Court decision over foreign human rights abuse victims seeking damages in American courts left a small window open for some hoping for restitution.  More »

China rig finds gas after Vietnam sea standoff

The discovery by China National Offshore Oil Corp. was made about a month after its rig withdrew in July from Vietnam’s exclusive economic zone to far less-contested waters closer to China.  More »
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