News

World Bank debars German oil and gas contractor for 13 months

The World Bank has announced the 13-month debarment of Germany’s Ferrostall Oil & Gas (FSOG), an engineering, procurement and construction contractor for oil, gas and other industrial plants. It is in connection with an alleged fraudulent practice under the Bank-financed Ayeyarwady Integrated River Basin Management Project in Myanmar. The ...

Priyanka Shrestha

What Will It Take for Cambodia to Actually Strike Oil and Gas?

The government is once again heralding oil and gas prospects offshore and on, but it’s done so twice before. A new set of international companies are optimistic about Cambodia’s nascent oil and gas industry, but they are investing in an extractive business that has proven costly ...

Danielle Keeton-Olsen

President pledges to encourage investment to Myanmar

President Trần Đại Quang pledged that Việt Nam will encourage its business community to invest in Myanmar, especially in agriculture, fish farming, mining and tourism. At a meeting with visiting Myanmar Minister of Home Affairs Kyaw Swe in Hà Nội yesterday, the President said that Việt ...

Indonesia suspends cartel membership to avoid cuts

Indonesia has suspended its membership of the Organization of Petroleum Exporting Countries, less than a year after rejoining the cartel, as the net oil importer said it could not agree to the group’s production cuts. The decision came as the cartel agreed its first oil ...

Bids for petroleum blocks face delay

The bidding for the Erawan and Bongkot petroleum blocks in the Gulf of Thailand may be delayed further, from next March to the second quarter of 2017, says Energy Minister Anantaporn Kanjanarat. The Energy Ministry had aimed for the new auction of gas fields to take ...

KrisEnergy ups stake to unclog offshore Block A oil

Singapore-listed KrisEnergy Ltd has upped its stake in the Block A offshore oil field to 95 percent, acquiring the shares of two minority stakeholders who had opposed the Cambodian government’s attempts to renegotiate a revenue-sharing model, the company revealed in its third-quarter filings. The document, ...

Myanmar leader begins VN visit

Myanmar President Htin Kyaw and his wife Su Su Lwin arrived in Hà Nội on October 25 for a visit to Việt Nam at the invitation of President Trần Đại Quang. The three-day visit starting on October 26 aims to seek stronger co-operation between the two countries, especially ...

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