PLATTS - India's oil ministry has instructed state-run refiners such as Indian OilCorp., Hindustan Petroleum Corp. Ltd. and Bharat Petroleum Corp. Ltd. toscout for alternative sources to Iranian oil.
REUTERS - Japan has protested to China for allowing a gas drilling vessel to operate in disputed waters in the East China Sea, the government said
WNN - GE and EDF have signed a strategic cooperation agreement for the planned construction of six EPR reactors at the Jaitapur site in Maharashtra, India. The document was announced by Xavier Ursat, senior executive vice president of EDF in charge of new nuclear projects and engineering, and Andreas Lusch, president and CEO of GE's Steam Power business.
AOG - Sheikh Abdullah said: “This agreement strengthens the already close ties between the UAE and the Kingdom of Saudi Arabia and between the UAE and India. The UAE is unwavering in its commitment to its strategic multi-lateral relationships with both Saudi Arabia and India, as well as being a reliable partner in India’s energy security. We look forward to exploring further opportunities to expand our energy partnerships and to collaborating on new, broader, opportunities that will further strengthen and deepen the long-standing economic links between our three countries.”
REUTERS - Indonesia’s deputy energy minister said on Tuesday Chevron Corp intended to cut planned investment in the Indonesia deepwater development (IDD) gas project to around $6 billion from $12.8 billion.
NOVATEK - According to the MOU, the parties agreed to explore opportunities for KOGAS to enter the Arctic LNG 2 project and possible LNG off-take from the project, participate in the LNG transshipment project in Kamchatka and other infrastructure projects, as well as develop cooperation in LNG trading and logistics optimization, including swap operations.
API - “Instead of utilizing a transparent decision-making process that provided room for input from key stakeholders, the administration continues to take serious missteps in the trade arena that could undermine American jobs and America’s role on the global energy stage. Trade wars with key trading partners will be detrimental to the U.S. economy and consumers.”
PLATTS - Since the US dropped all limits on crude exports in 2015, China has competed with Canada as the top buyer of US crude. US crude exports to China averaged over 358,000 b/d in the first quarter, up from nearly 175,000 b/d in Q1 2017. US crude's market share in China rose to 3.5% from 0.4% over the same period.
PLATTS - "Today, the political situation is somewhat different. The South Korean side approached Gazprom about the revival of this project. A series of talks took place on this. These talks are continuing. We can't say anything further, but we are renewing such talks with the Korean side," Markelov said.
PLATTS - Saying that current oil prices were not supported by market fundamentals, Indian oil minister Dharmendra Pradhan on Thursday called for "responsible pricing, one that balances the interests of both the producer and consumer."