Oil, gas and petrochemistry are major topics of economic discussions between Iranian and Indonesian officials during the Indonesian president visit to Iran.

Located in waters up to 500-metres deep, Malikai is Shell’s second deep-water project in Malaysia, following the successful start-up of the Gumusut-Kakap platform in 2014. Malikai is expected to have a peak production of 60,000 barrels per day. As the company’s first TLP in the country, Malikai is an example of the strength of Shell’s global deep-water business, applying TLP expertise from decades of operations in the U.S. Gulf of Mexico.

Indian state-run oil refiners have called for Nigeria to increase its total term contract volumes next year by more than 20% as demand from the South Asian country climbs, an official from Nigeria's state-owned Nigerian National Petroleum Corporation said.

China’s investment is transforming its smaller Southeast Asian neighbors like never before while helping turn Cambodia, Laos and Myanmar into bigger destinations for its exports.

Indonesian companies are interested to join upstream projects in Iran's oil industry in fields like Ab Teymour and Mansouri oilfields, said Chairman of the People's Consultative Assembly (MPR) of Indonesia Zulkifli Hasan.

The auction of the deepwater blocks, four in the Perdido Fold belt near the US side of the Gulf and six in the unexplored Salina basin further south, marked the culmination of the first round of auctions since Mexico enacted a sweeping reform to open a sector closed to private exploration and production for nearly 80 years.

For China’s beleaguered oil sector, a deal by the Organization of the Petroleum Exporting Countries to cut output could offer a lifeline to an industry that has been hammered by low prices—and may also hasten its shift away from a heavy reliance on Saudi crude.

India is expected to see investment to the tune of $20bn in next five to seven years in development of gas fields, country’s oil minister Dharmendra Pradhan said at an event in New Delhi.

OPEC had proposed Indonesia cut oil production by about 37,000 barrels per day (bpd), or about 5 percent of its output, which would dent the already slipping oil rent in Southeast Asia's largest economy. Indonesia's Energy and Mineral Resources Minister Ignasius Jonan, who attended the Vienna meeting, said the only reduction Indonesia could accept was a cut of 5,000 bpd, which had been approved in the country's 2017 budget.

Novatek is planning a new large-scale project known as Arctic LNG 2, which targets annual production of 12 million to 16 million tons of LNG, with operations aimed to start by 2025. Mikhelson expressed a desire to see Japan be a cooperative partner at every step of the plan, from gas production to liquefaction plant construction and management, all the way to sales. It was also made clear that should Japanese enterprises cooperate, the country could expect a portion of the output.

Venezuela has borrowed over $50 billion from China under a financing arrangement created by late socialist leader Hugo Chavez in 2007, in which a portion of its crude and fuel sales to the world's second-biggest economy are used to pay down loans.

Iran overtook political rival Saudi Arabia as India's top oil supplier in October, shipping data showed, just ahead of a producers' meeting this month to hammer out the details on output cuts aimed at reining in a global glut.

Japan sees the current low oil price environment creating "a significant chance for acquiring [upstream] stakes and assets," as well as the need to facilitate upstream investments amid slowing investments globally, Yuki Sadamitsu, director of the oil and gas division at the Ministry of Economy, Trade and Industry said in an interview with S&P Global Platts last month.

The deal between Essar and a consortium led by Kremlin oil giant Rosneft (ROSN.MM) appeared dead in the water two months ago after Saudi state energy firm Aramco weighed in, according to seven Russia, India and Saudi-based industry sources familiar with or involved in the negotiations.

«Мы видим существенный потенциал для наращивания двухстороннего взаимодействия в области добычи и переработки нефти и газа, а также в сфере производства и экспорта СПГ», – отметил Алексей Текслер.