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Asia Pacific

Fox Petroleum has unveiled its plans to construct a floating storage regasification unit (FSRU) liquefied natural gas (LNG) terminal in the state of Karnataka, India.   The offshore terminal, which will be capable of processing one billion cubic feet (bcf) of gas per day, will have a storage capacity of…
India-based ONGC Videsh has agreed to participate in the exploration of oil and gas offshore Vietnam.   ONGC Videsh signed a letter of intent (LOI) with PetroVietnam as part of the plans.   Under the LOI, ONGC Videsh will expand its exploration activities in Vietnam by considering its participation in…
The price of Brent crude oil declined below $97 a barrel today amid weak Chinese industrial data and a strong US dollar.   According to Reuters, Brent for November delivery dropped 61 cents to $96.39 a barrel and US crude declined 72 cents to $92.82 a barrel.   The Chinese…
Brent crude futures remained above $97 a barrel today amid firm US economic data and steady China PMI.   However, due to ample supllies, oil remains on course for its deepest quarterly drop in more than two years.   Reuters reported that Brent for November delivery increased 8 cents to…
  HANOI—Vietnam and India agreed Monday to expand cooperation in oil and gas exploration and production in contested waters of the South China Sea, despite previous objections from China.   The agreement between ONGC Videsh Ltd. and Vietnam Oil and Gas Group, or PetroVietnam, was among several signed between the…
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