China National Offshore Oil Corporation (CNOOC) and China National Petroleum Corporation (CNPC) are battling for approval to bid for the Argentinean unit of Spanish oil major Repsol, sources said today, in a deal that could be worth around $17 billion.

India plans to raise 18.54 billion rupees ($386 million) via sale of shares in two state-owned companies in the current fiscal year, the government said today.

Indonesia is considering building an onshore liquefied natural gas plant for natural gas reserves from the Abadi field in the Timor Sea that will be operated by Japan's Inpex Corporation.

Indonesian state-owned oil and gas company Pertamina is submitting a new bid for an oil block in Iraq and will team up with Australia’s Woodside Petroleum to bid for a gas project in Indonesia.

Pertamina has suspended a joint venture with Perusahaan Gas Negara to build three massive offshore gas-storage terminals in Java and North Sumatra, after the government demanded that the projects be finished a year ahead of schedule.

Petronas' chief executive faces the risk of being ousted from the Malaysian state oil and gas company following a political wrangle involving the country's Prime Minister.

Australia’s Beach Petroleum has waived all conditions and extended the offer date in it’s A$50 million (US$37 million) takeover bid for compatriot Drillsearch Energy.

The Australian government is set to come under huge pressure from Woodside Petroleum to strip valuable Browse basin gas leases off multi-national companies including Chevron and Shell unless an agreement on the $30 billion Kimberley liquefied natural gas project can be reached.

Australia’s Beach Petroleum reported that the Butlers-1 oil discovery has flowed 2600 barrels of oil per day following its completion as a producer in licence PEL 92 in the state of Queensland.

The row over the Front Puffin floating production, storage and offloading vessel (FPSO) continues with Puffin Joint Venture and a Sea Production unit now accusing each other of contract breaches.

Figures released by the Economic Survey of India show that the country's New Exploration & Licensing Policy (Nelp) has, as of 1 April, exploration investment commitments totalling about $10 billion.

China National Petroleum Corporation (CNPC) plans to revive a $17 billion bid for the Argentinian unit of Spanish oil major Repsol-YPF.

Shipbuilding and shipping conglomerate STX said it expected top South Korean shipyards to jointly win offshore project orders from Brazil's state-run oil company, Petrobras.

Sembcorp Marine subsidiary Jurong Shipyard has secured a second contract to complete a semi-submersible rig for SeaDragon Offshore unit Oban B worth $237.3 million, excluding owner-supplied equipment.

Australian producer Santos will pay A$476 million (US$381 million) to boost its coalbed methane position in Australia's Gunnedah basin, the company said today.

A consortium in which Pertamina was a member has withdrawn its bid for the West Qurna oil block in Iraq as the terms offered on the development were not sufficiently attractive, a company executive said yesterday.

New Zealand gas and power companies Contact Energy and Genesis Energy are putting plans to build the country’s maiden liquefied natural gas import terminal at New Plymouth on hold and instead are focusing on an alternative offshore LNG regasification facility.

Australia’s Incremental Petroleum has spudded the Kuzey Ikihoyuk-1 well at the Edirne licence in Turkey.

StatoilHydro’s South China Sea Lufeng 22-1 oilfield is undergoing decommissioning after coming offline in mid June.

Keppel Singmarine has delivered the newbuild multi-purpose duty rescue vessel, Kogalym on schedule to Lukoil-Kaliningradmorneft.

Sembcorp Marine offshoot Jurong Shipyard has sealed a second order from UK-based SeaDragon unit Oban B to complete and deliver a semi-submersible drilling unit.

US independent Hess has resumed deep-water exploration drilling in the same block off Western Australia (WA) where it made three discoveries last year.

Australian Worldwide Exploration is set to deepen the Apium North-1 gas exploration well in the onshore North Perth basin after wireline logs found the primary target Dongara sandstone was dry.

India's Reliance Industries said today it would appeal to the Supreme Court against a ruling that it should enter into a gas supply agreement with former group firm Reliance Natural Resources.