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Asia’s potential upstream powerhouse
Petronas-Eni eyes joint venture to prioritise key gas developments, with huge opportunities for growth in Indonesia and a steady Malaysia portfolio
Malaysia tackles upstream declines
Petronas is making huge efforts to arrest falling oil production and accelerate gas increases to meet rising demand, but political tensions persist
Malaysia looks to deepwater to sustain output
The country is nearing a tipping point as its domestic needs continue to grow
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The AIM-listed independent is pushing ahead with developments in Indonesia, Malaysia and Vietnam, CEO Paul Blakeley tells Petroleum Economist
Power pricing threatens Vietnam’s gas plans
The country’s drive to adopt LNG and gas could be imperilled as the state electricity company haemorrhages money
Profitability remains a prerequisite for a credible energy transition—Repsol
Insisting that profitability must be maintained as energy companies transition from fossil fuels to clean fuels has enabled Repsol to ratchet up its climate neutrality ambitions, making the company an industry leader.
Longboat splits attention between Norway and Malaysia
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Malaysia LNG faces growing gas supply challenges
Pipeline problems, maturing fields, gas quality issues and territorial disputes threaten to erode Malaysia’s LNG exports
Delta sees LNG-to-power back on track in Vietnam
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But none of the companies are poised to abandon oil and gas anytime soon
Managing director Kenneth Pereira
Malaysia Vietnam ExxonMobil Hibiscus Pertamina Petronas PTT Repsol Shell
James Gavin
16 July 2021
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Malaysian indie Hibiscus eyes regional growth

The company’s expansion will not end with its recent acquisition of Repsol assets in Southeast Asia, says managing director Kenneth Pereira

Southeast Asia has traditionally been the preserve of NOCs and IOCs. Powerful state companies such as Malaysia’s Petronas, Indonesia’s Pertamina and Thailand’s PTT  dominated domestic hydrocarbon sectors, often in lockstep with their international partners. But, as in other parts of the world, that is changing with the entry of entrepreneurial outfits that are emerging to fill a gap left by departing IOCs. Hibiscus Petroleum, a Malaysian E&P company that also operates in the UK North Sea, is one such company. It acquired the Malaysian and Vietnamese upstream assets of Spain’s Repsol in early June, paying $212.5mn for a 35pc interest in the PM3 CAA production-sharing contract (PSC) and 60

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