Production News for East & SE Asia


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OPEC Expected to Cut Oil Output
Wednesday, November 28, 2018 OPEC and its allies will announce production cuts to check a slump in oil prices when they meet next week, according to a Bloomberg survey.

OPEC+ Said to Weigh Bigger Production Cut
Thursday, November 15, 2018 OPEC+ is considering cutting oil output by more than the 1 million barrels a day Saudi Arabia proposed earlier this week, according to people familiar with the matter.

NOPEC to Take Gloves Off, Production Cuts In 2019?
Wednesday, November 14, 2018 OPEC, in cooperation with Russia, are currently discussing the option to put another production cut in place.

Saudis See Need for Producers to Cut 1MM Barrels
Monday, November 12, 2018 Saudi Arabia expresses the need for oil producers to cut 1 million barrels a day from October levels.

OPEC Could Cut Production in 2019
Thursday, October 25, 2018 OPEC signaled it could cut output in 2019 due to concerns about rising oil inventories and economic uncertainty.

OPEC in Maximum Production Mode
Tuesday, October 23, 2018 Saudi Arabia says OPEC and allies are in a 'produce as much as you can mode'.

IEA Urges OPEC to Open Taps as Oil Markets Enter 'Red Zone'
Tuesday, October 09, 2018 The International Energy Agency made a direct appeal to OPEC and other major oil producers to boost output.

OPEC Output Edges Higher
Tuesday, October 02, 2018 OPEC production rose last month as deepening losses in Iran due to looming US sanctions were countered by other members.

CNOOC Starts Up Penglai 19-3 Comprehensive Adjustment Project
Tuesday, September 18, 2018 CNOOC Limited announces that the Penglai 19-3 oilfield 1/3/8/9 comprehensive adjustment project has commenced production.

OPEC's Barkindo: Oil Demand To Hit 100 MMbpd Sooner Than Projected
Wednesday, September 05, 2018 World oil consumption will reach 100 million barrels per day later this year, hitting that level much sooner than previously forecast, OPEC's Barkindo says.

Reuters Survey: OPEC August Oil Output Hits 2018 High Despite Iran Losses
Friday, August 31, 2018 OPEC oil output has risen this month to a 2018 high as Libyan production recovered and Iraq's southern exports hit a record, a Reuters survey found.

OPEC+ Committee: Oil Producers Cut July Output By 9% More Than Agreed
Monday, August 27, 2018 An OPEC and non-OPEC monitoring committee found that oil producers participating in a supply-reduction agreement cut output in July by 9% more than called for in their pact, sources say.

CNOOC Posts Best Half-Year Profit Since 2015, Domestic Oil Output Drops
Thursday, August 23, 2018 CNOOC says its profits climbed 57% year-on-year in the first half of 2018, boosted by higher crude prices and robust gas sales.

Saudi Cuts Oil Output As OPEC Points To 2019 Surplus
Monday, August 13, 2018 OPEC forecast lower demand for its crude next year as rivals pump more and said top oil exporter Saudi Arabia, eager to avoid a return of oversupply, had cut production.

OPEC Oil Output Climbs as Saudi Arabia Pumps Near Record
Thursday, August 02, 2018 OPEC's crude output increased last month as Saudi Arabia pumped near-record volumes.

Reuters Survey: OPEC July Oil Output Hits 2018 Peak, But Outages Weigh
Monday, July 30, 2018 OPEC oil output has risen this month to a 2018 high as Gulf members pumped more after a deal to ease supply curbs and Congo Republic joined the group, a Reuters survey found.

Myanmar Shwe Contract Goes to McDermott, BHGE
Wednesday, June 27, 2018 A consortium of McDermott and BHGE has won a contract for the second phase of the Shwe gas field development offshore Myanmar.

Saudi Aramco CEO Says Has 2 Million Barrels Per Day Of Spare Capacity
Monday, June 25, 2018 Oil giant Saudi Aramco says it has a spare capacity of 2 million barrels per day and can meet additional oil demand in case of any interruption in supplies.

Sources: US Asks OPEC Producers To Pump More Oil, No Specific Figure
Tuesday, June 05, 2018 The US government has unofficially asked Saudi Arabia and some other OPEC producers to raise oil output.

OPEC's Reason for Sticking With Cuts Rests on Shaky Ground
Wednesday, May 02, 2018 OPEC and Russia seem determined to keep on cutting production even after their campaign to rebalance world oil markets achieved its main target.

China Shale Gas Output To Nearly Double Over 3 Years - Consultancy
Tuesday, April 17, 2018 China's shale gas production will likely reach 17 billion cubic metres in 2020, nearly double the 2017 level.

UAE Says Most Countries In Oil Cut Deal Like Idea Of Long-Term Alliance
Thursday, April 12, 2018 A majority of the OPEC and independent oil producers participating in a current deal to cut supply like the idea of a long-term producers' alliance, the energy minister of the United Arab Emirates says.

Chevron Seeks To Extend Rokan Oil Contract In Indonesia Beyond 2021
Friday, April 06, 2018 Chevron has submitted a proposal to extend its contract to operate the Rokan oil block in Indonesia beyond 2021.

Asian Oil, Gas Producers Stepping Up Activity After Long Lull
Friday, March 23, 2018 Asia's oil and gas producers are starting to revive projects aimed at deflating years of ballooning energy imports after new investment dried up following the 2014 industry crisis.

Vietnam Halts South China Sea Drilling Project Under Pressure From Beijing
Friday, March 23, 2018 Vietnam halts an oil drilling project in the 'Red Emperor' block following pressure from China, 3 sources with direct knowledge of the situation tell Reuters.

Gas Production Commences at B15 Field Offshore Sarawak
Thursday, March 22, 2018 Gas production starts up at the B15 field, located within the SK310 production sharing contract area offshore Sarawak in East Malaysia.

Mubadala Advances $1B Malaysia Pegaga Gas Field Project
Wednesday, March 21, 2018 Mubadala Petroleum, Petronas and Royal Dutch Shell will spend more than $1 billion to develop Malaysia's Pegaga gas field.

CNOOC Starts Production from Weizhou 6-13 in South China Sea
Tuesday, March 20, 2018 CNOOC Limited starts up its Weizhou 6-13 oilfield ahead of schedule.

Down Is Up as Aging Oil Fields Defy Gravity to Pump More
Friday, March 09, 2018 Bob Dudley has never seen anything like what happened with BP's old fields last year: They gushed more crude.

East Timor, Australia Agree On Maritime Border, 'Pathway' To Develop Field
Monday, February 26, 2018 East Timor and Australia reach an agreement for a treaty on their disputed maritime border and on a 'pathway' to develop the giant Greater Sunrise offshore gas fields.

Thailand Pushes Erawan And Bongkot Gas Field Auctions To April
Thursday, February 22, 2018 Thailand expects auction terms for its petroleum gas fields to be ready in April, a month later than previously indicated.

ONGC Short-Lists Three Oil Service Majors To Lift Output From Two Fields
Wednesday, February 21, 2018 India's Oil and Natural Gas Corp is set to hire international oil service giants for the first time to boost output from domestic oil fields.

IEA: Surge In Global Oil Supply May Overtake Demand In 2018
Tuesday, February 13, 2018 The rise in global oil production, led by the US, is likely to outpace growth in demand this year, IEA says.

ExxonMobil's Reserves Jump 19% On Growth In US Shale, UAE
Friday, February 09, 2018 ExxonMobil says its oil and gas reserves surged 19% last year, thanks to growth in US shale, the United Arab Emirates and Guyana.

Sino Gas Submits Development Plan for Sanjiaobei
Tuesday, January 02, 2018 Sino Gas & Energy Holdings Limited submits the Sanjiaobei Overall Development Plan to its PSC partner PetroChina CBM for approval.