News Update PetroSync
Pertamina rejects offer to take turns with Total
State-owned oil and gas producer PT Pertamina has rejected a proposal from the government to take two year turns with France-based Total SA to operate the Mahakam block in East Kalimantan after the latter’s contract expires in 2017. “It is impossible to ...
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Newfield Exploration raises output forecast
(Reuters) - Oil and gas producer Newfield Exploration Co raised its full-year production forecast for the second time on positive results from its key plays as it shifts its focus on oil and natural gas liquids. The company expects full-year output of 296 billions of cubic f...
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Malaysia's Petronas unit shuts part of methanol complex over fire
KUALA LUMPUR, July 26 (Reuters) - Petronas Chemicals , a unit of Malaysia's state oil firm, has shut part of its methanol processing complex off the coast of Borneo island as firefighters battle a blaze on a nearby chemical tanker, the company said on Thursday. Petronas ...
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PetroChina inks Qatar oil exploration deal
PetroChina, Asia's largest oil and gas producer, signed an agreement to acquire 40 per cent of exploration and production rights for Qatar's Block 4 from GDF Suez Qatar, which is the operator of the block, Qatar Petroleum said in a statement. ...
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Pertamina ready to crank up non-subsidized fuel output
State-run oil and gas firm PT Pertamina says it is prepared to supply more nonsubsidized fuels (Pertamax, Pertamax Plus and Pertamina Dex) should the government execute its plan to limit the distribution of subsidized fuels this year. Company sen...
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PVEP pumps oil in Venezuela
HA NOI — A joint venture between Viet Nam's PetroVietnam Exploration and Production Corp (PVEP) and Venezuela's Petroleum Corp (CVP), known as Petromacareo, officially pumped the first gallons of commercial oil at the PDV-39 Drilling Platform in Venezuela on T...
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Saudi Aramco to Invest $200 Billion in Refining, Exploration
Jan. 17 (Bloomberg) — Saudi Arabian Oil Co. plans to build refineries in China and Indonesia as part of a $200 billion spending program to double refining capacity and explore for oil and natural gas over the next decade....
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Indonesia: Sound Oil commences drilling Cataka-1 in the Citarum PSC, Java, Indonesia
Sound Oil, the upstream oil and gas company with assets in Italy and Indonesia, has announced that the Cataka-1 exploration well commenced drilling at 2300 Indonesian local time (1600 GMT) on 31 December 2011. It is currently drilling ahea...
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ONGC in initial partnership talks with ConocoPhillips
Oil & Natural Gas Corp (ONGC) said it is in initial discussions with ConocoPhillips to explore a possible partnership, a deal which could be hugely significant for India's flagship explorer. ConocoPhillips' expertise could help ONGC arrest a continued slide in production, and bring...
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Petronas, Shell Ink Two PSCs for Enhanced Oil Recovery Offshore Malaysia
Petronas and Shell Malaysia today signed two new production sharing contracts (PSCs) for enhanced oil recovery (EOR) projects offshore Sarawak and Sabah. The contracts bu...
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