Majors and US independents leave southeast Asian gap
A rush to US shale has left opportunities for others in areas left behind
US independent Murphy Oil became in March the latest US independent to exit Asia in preference for concentrating on US shale and America's deep-water assets. The firm will sell its Malaysian production and reserves to Thailand's state oil firm PTTEP for over $2bn. Murphy plans "to continue its current oil-weighted strategy in both the Eagle Ford shale and the Gulf of Mexico, while maintaining its focused exploration plan". Thus $750mn of the proceeds of its PTTEP deal will be earmarked for US oil-weighted opportunities through potential acquisitions and/or the funding of both deep-water projects and US onshore opportunities, the firm says. "Murphy had been keen to sell their assets for quite
Also in this section
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
1 December 2025
The North African producer’s first bidding round in almost two decades is an important milestone but the recent extension suggests a degree of trepidation
