SE Asian NOCs find strength in numbers
A Petronas-Pertamina crude swap agreement was the latest instance of Southeast Asian NOCs teaming up to tackle shared energy security challenges
The $500mn crude oil swap deal between Malaysia’s Petronas and Indonesia’s Pertamina signed on 18 February was the latest in a trend of collaborative moves between NOCs in the region to boost efficiency and energy security. The deal targets midstream logistical savings but forms part of a broader agreement that extends to other midstream areas as well as upstream collaboration and has a potential value of $1bn. The agreement enables the NOCs to net-out expenses by swapping oil from fields that lay closer to each other’s refineries than their own. Pertamina says this will make an important contribution to national oil production goals. “This cooperation is part of Pertamina's efforts to impro
Also in this section
6 February 2026
The long close relationship between key supplier Qatar and pivotal buyer Japan becomes even deeper following new landmark deal
6 February 2026
Partnerships across the LNG value chain have evolved over time, growing in both complexity and importance, according to panellists at LNG2026
6 February 2026
Nigeria's mega-refinery is still trying to solve many challenges, all while its owner talks up expansion
5 February 2026
While broadly supportive of EU efforts to tackle methane emissions, representatives of the gas industry warn it could deter supply contracting if timelines and compliance requirements are not made more pragmatic
