Regional News: East & SE Asia

 
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CNOOC's 1Q 2016 Revenue Falls to $3.8B, Down 30.7% YOY
Friday, April 29, 2016 CNOOC's revenue falls to $3.8 billion in the first quarter of 2016, down 30.7 percent from last year as low oil prices continue to weigh on the firm's turnover.

Cambodia Terminates Petroleum Agreement for CPHL-Held Offshore Block D
Friday, April 29, 2016 Cambodia's Ministry of Mines and Energy terminates the petroleum agreement of offshore Block D held by Mirach Energy's associate firm CPHL.

SHI Receives Shell's Termination Notice for $4.7B FLNG Building Contract
Friday, April 29, 2016 Samsung Heavy Industries receives a notice to terminate the $4.64 billion contract from Shell to build three floating liquefied natural gas units.

Sembcorp Marine's 1Q 2016 Net Profit Falls 48% YOY to $41M
Thursday, April 28, 2016 Sembcorp Marine's net profit falls 48 percent in the first quarter of 2016 to $41 million, compared to $79 million a year ago amid lower revenue from rig construction.

Term Sheet: Seadrill Sells Stake In Sapurakencana Petroleum For $198M
Thursday, April 28, 2016 Seadrill sold its 8.2 percent stake in Malaysia's Sapurakencana Petroleum for $198 million.

  


China's Biggest Oil Company Posts 52% Decline In 2015 Profit
Thursday, April 28, 2016 China National Petroleum Corp., the country's biggest oil and gas producer and the parent of PetroChina, says profit fell 52 percent as lower oil prices punished global explorers.

India Orders Tanker with Disputed Libyan Oil to Await UN Instructions
Thursday, April 28, 2016 India instructs an Indian-flagged oil tanker not to discharge its cargo of oil from Libya's rival eastern government and await instructions from the United Nations, a senior Indian government official says.

Worldwide Recruitment Solutions Expands in Singapore to Support APAC Growth
Thursday, April 28, 2016 Worldwide Recruitment Solutions expands in Singapore to support its growing Asia Pacific operations.

Husky Expects Madura BD Field Off Indonesia to Commence Production in 2017
Wednesday, April 27, 2016 Husky Energy expects the Madura BD field in the Madura Strait offshore Indonesia to commence production in 2017.

Mubadala Completes Drilling 2 Development Wells in Thailand's Manora Field
Wednesday, April 27, 2016 Mubadala Petroleum completes the drilling of 2 development wells in the Manora oil field in the Gulf of Thailand.

Singapore's Viking O&M Names Low Jooi Kok as CEO
Wednesday, April 27, 2016 Singapore's Viking Offshore and Marine names Low Jooi Kok as chief executive officer to succeed Ong Choo Guan.

Govt: Vietnam's Jan-April Crude Oil Exports Drop 22.2% YOY
Wednesday, April 27, 2016 Vietnam's crude oil exports during January-April fell 22.2 percent from the same period last year to an estimated 2.49 million tons, or 151,000 barrels per day, the government says.

Singapore High Court Grants Stay of the Action in PPLS-MPD Jackup Spat
Tuesday, April 26, 2016 Singapore High Court grants Marco Polo Drilling a stay of the action on arbitration proceedings commenced by PPL Shipyard over the termination of a jackup construction contract.

HHI Posts $283M in Operating Income in 1Q 2016, Ends 9 Quarters of Losses
Tuesday, April 26, 2016 Hyundai Heavy Industries' operating income rose to $283 million in the first quarter of 2016, ending 9 consecutive quarters of losses.

Dayang Bags Topside Maintenance Services Deal for KPOC's Kebabangan Field
Tuesday, April 26, 2016 Dayang Enterprise bags a 2 year topside maintenance services contract from Kebabangan Petroleum Operating Company for the Kebabangan project offshore Sabah, Malaysia.

China's CNPC Oil, Gas Output To Reach 300 MT Of Oil Equivalent By 2020
Tuesday, April 26, 2016 CNPC says its oil and gas output will reach 300 million tons of oil equivalent a year by 2020.

Singapore's Calm Ocean Building 2 Heavy-Lift Semisubs in China
Tuesday, April 26, 2016 Singapore-based Calm Oceans is building 2 heavy-lift semisubmersibles for the construction and decommissioning of offshore platforms at Blue Island Shipyard in China.

CNOOC Commences Production from Panyu 11-5 in South China Sea
Monday, April 25, 2016 CNOOC Limited commences production from the Panyu 11-5 oilfield, located in the Pearl River Mouth Basin of the South China Sea.

Indonesia OPEC Governor: No Urgency To Freeze Output With Oil At $45
Monday, April 25, 2016 Indonesia's governor says to OPEC oil at $45 a barrel is "not bad" and warns there will be no urgency to freeze output if crude remains at that price.

Total's Indonesian Unit sees 1Q Mahakam Gas Production at 1.7 Bcfpd
Monday, April 25, 2016 Total E&P Indonesie sees first quarter natural gas production from the Mahakam Block at 1.7 billion cubic feet per day, above its target of 1.5 Bcfpd for 2016.

Industry Executive: Review Costs and Adopt Effective Measures
Friday, April 22, 2016 The time has come for the offshore industry to review costs in line with lower oil prices, according to an executive of V.Ships Offshore.

IEA Chief Says Oil Market, Prices To Return To Balance By 2017
Thursday, April 21, 2016 IEA chief Fatih Birol says he expects the oil market to come back into balance from oversupply by next year, providing there is no major economic downturn.

Technics Oil & Gas Appoints Ng Chiu Yuen as Group MD
Thursday, April 21, 2016 Singapore-based Technics Oil & Gas appoints Ng Chiu Yuen as group managing director.

PTTEP Tackles Industry Challenges, Prepares for Future with 3Rs
Wednesday, April 20, 2016 PTTEP employs a new approach to deal with challenges arising from the current industry downturn.

Transocean, Jurong Shipyard Reach Deal to Defer Delivery of 2 Drillships
Wednesday, April 20, 2016 Transocean reaches agreement with Jurong Shipyard to defer delivery of two ultra deepwater drillships.

Keppel O&M's 1Q 2016 Net Profit Falls 53% to $70.7M, Revenue Down 58%
Tuesday, April 19, 2016 Keppel Offshore & Marine's net profit falls 53 percent to $70.7 million in first quarter 2016, while revenue is 58 percent lower at $608.7 million.

Norway's PM Urges HHI to Continue Cooperation with Norwegian Partners
Monday, April 18, 2016 Norway's Prime Minister Erna Solberg urges South Korea's shipyard Hyundai Heavy Industries to continue cooperation with partners in her country for mutual growth.

Primeline Begins Arbitration Over Zhejiang Gas' Breach of Sales Contract
Monday, April 18, 2016 Primeline Energy commences arbitration proceedings against Zhejiang Gas Natural Gas Development Company over gas sales from the LS36-1 field in East China Sea.

Ramba Successfully Drills Kusuma-1 Prospect in West Jambi Block in Sumatra
Monday, April 18, 2016 Ramba Energy successfully drills the Kusuma-1 prospect in West Jambi block in Sumatra, Indonesia.

Sevan Drilling, Cosco to Defer Delivery of Sevan Developer to Mid-October
Friday, April 15, 2016 Sevan Drilling and Cosco agree to defer delivery of Sevan Developer semisub for a further six months to mid-October.

Ezra Posts 1H16 Net Loss of $336M, Compared to $65M Net Profit Last Year
Friday, April 15, 2016 Ezra incurs a net loss of $336.4 million for first half 2016 that ended Feb. 29, compared to a net profit of $65.3 million a year ago.

Ezra, EMAS Offshore to Sell 78.4% Stake in FPSO Lewek Emas
Friday, April 15, 2016 Ezra and its unit EMAS Offshore agree to sell their combined 78.4 percent stakes in FPSO Lewek Emas to a global infrastructure fund.

Linc Energy Enters into Voluntary Administration
Friday, April 15, 2016 Singapore-listed Linc Energy appoints Stephen Longley, Grant Sparks and Martin Ford as administrators as the company tries to restructure its debt.

Indonesia's Small-Scale LNG Plans Face Several Challenges
Friday, April 15, 2016 Some analysts say small-scale LNG could be best for Indonesia, but one observer says it's more sensible to reform the gas sector.

Keppel Holds Naming Ceremony for McDermott's Newbuild DLV 2000
Thursday, April 14, 2016 Keppel Singmarine holds naming ceremony for McDermott's newbuild derrick lay vessel, DLV 2000, at its yard in Singapore.

Carter Announces Ramped-Up Military Presence In Philippines
Thursday, April 14, 2016 U.S. Defense Secretary Ash Carter announces that U.S. troops and military equipment would be sent on regular rotations in the Philippines.

China Imports Record Crude Oil As Higher Margins Boosts Buying
Wednesday, April 13, 2016 China's crude imports climb to a record in the first quarter as higher refining margin encouraged refiners to boost purchases.

Singapore-based Navig8 to Acquire African-Focused OSV Provider RKOffshore
Wednesday, April 13, 2016 Singapore-based Navig8 Group signs agreement to acquire RKOffshore Management.

Woodside to Supply LNG to Pertamina for 15-20 Years
Wednesday, April 13, 2016 Woodside signs agreement to supply up to 1 million tons per annum of liquefied natural gas per year to Pertamina for a period of 15 to 20 years.

Polarcus Secures Marine Seismic Contract in Indonesia
Tuesday, April 12, 2016 Polarcus Limited receives a letter of intent from an undisclosed client for a 3D marine seismic contract in Indonesia.

Perdana Forfeited $8.4M in Deposit for Cancelling a Shipbuilding Contract
Tuesday, April 12, 2016 Malaysia's Perdana Petroleum forfeited $8.4 million in deposit to Nam Cheong after cancelling a contract to build an accommodation work barge.

Indonesia's Pertamina Plans To Develop South China Sea Border Areas
Tuesday, April 12, 2016 Pertamina plans to explore for oil and gas in areas close to Indonesia's maritime border in the South China Sea.

Mitsubishi, ExxonMobil Collaborate on Advanced Gas Turbine Technology
Tuesday, April 12, 2016 Mitsubishi to collaborate with ExxonMobil in developing advanced gas turbine technology in order to reduce liquefied natural gas unit costs.

Marine Industry Looks To Cruise Ships, Wind Farms To Weather Oil Slump
Tuesday, April 12, 2016 Marine and offshore engineering companies are turning to cruise ships, fishing vessels or even sea-based wind farms to keep their earnings afloat as weak oil prices slash new spending by big energy companies.

ABS Approves HHI's FLNG Hull Design
Tuesday, April 12, 2016 ABS grants approval in principal to Hyundai Heavy Industries for the latter's floating liquefied natural gas hull design.

LNG Backers Face Comatose Market as Oil Shows Signs of Life
Monday, April 11, 2016 As oil markets look for the green shoots of a price recovery, LNG participants are hunkering down for a long winter.

EOR's Unit Plans to Buy Stake in Indonesia's Wain Block Operator Pandawa
Monday, April 11, 2016 Enhanced Oil & Recovery's unit plans to acquire a stake in P.T. Pandawa Prima Lestari, the operator of the Wain Block in Kutai Basin, East Kalimantan, Indonesia.

Tap Oil Confirms Participation at Sri Trang-1 Well in Thailand
Monday, April 11, 2016 Tap Oil Limited's board approves Tap's participation in the Sri Trang-1 exploration well in the Reservation Area of the G1/48 Concession in the Northern Gulf of Thailand.

Malaysia's TAS Receives Vessel Construction Termination Notice from QMS1
Friday, April 08, 2016 Malaysia's TAS receives a notice from QMS1 Offshore Services to terminate the $11.7 million contract to build an offshore construction vessel.

Indonesia 1Q Crude Output Climbs On Exxon's Cepu Field Boost
Friday, April 08, 2016 Indonesia's average daily crude output climbed in the first quarter to about 835,000 barrels per day, an energy ministry official says, as a result of a long-awaited production increase at Exxon Mobil Corp.'s Cepu block.

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