• 5 minutes 'No - Deal Brexit' vs 'Operation Fear' Globalist Pushback ... Impact to World Economies and Oil
  • 8 minutes China has *Already* Lost the Trade War. Meantime, the U.S. Might Sanction China’s Largest Oil Company
  • 12 minutes Will Uncle Sam Step Up and Cut Production
  • 10 hours Maybe 8 to 10 "good" years left in oil industry * UAE model for Economic Deversification * Others spent oil billions on funding terrorism, wars, suppressing dissidents * Too late now
  • 1 day Long Range Attack On Saudi Oil Field Ends War On Yemen
  • 3 hours Only thing that moves oil price up is an attack on Tankers or Oil Facilities (Staged or real?)
  • 14 hours In The Bright Of New Administration Rules: Immigrants as Economic Contributors
  • 2 hours CLIMATE PANIC! ELEVENTY!!! "250,000 people die a year due to the climate crisis"
  • 3 hours Russia Accuses U.S. Of Stoking Tensions With Missile Test
  • 7 hours With Global Warming Greenland is Prime Real Estate
  • 7 hours Recession Jitters Are Rising. Is There Reason To Worry?
  • 2 hours What to tell my students
  • 17 hours Domino Effect: Rashida Tlaib Rejects Israel's Offer For 'Humanitarian' Visit To West Bank
  • 1 day US Petroleum Demand Strongest Since 2007
  • 19 hours Trump vs. Xi Trade Battle, Running Commentary from Conservative Tree House
  • 10 hours Get First Access To The Oilprice App!
Alt Text

What The Market Is Overlooking In The Occidental Deal

Occidental Petroleum has caught a…

Alt Text

This Supermajor Is Leading The Energy Sector

This supermajor has been standing…

Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

More Info

Premium Content

A $22 Billion Mega-Project For An Unexpected Energy Power

One trend that's been quietly unfolding in the oil and gas space is the rise of Asian energy companies.

Quite simply, E&P firms in this part of the world are making some of the biggest moves in today's industry. Both in terms of adopting advanced technology for things like directional drilling--and committing big funding for ambitious development projects globally.

This week we got more confirmation of the potential in this part of the world. When one of the most quiet but critical firms here announced one of the biggest new works the region has seen in a long time.

Related: Investors Love Oil in This Leaderless Nation

The company is Thailand's PTT. The parent firm of an energy conglomerate that includes E&P outfit PTTEP. And a company that is apparently expanding its footprint in the petrochemicals business, in a major way.

PTT said this week that is has submitted a feasibility study for a $22 billion oil refinery and petrochemical complex in central Vietnam. A mega-project that the company will reportedly undertake in partnership with Middle Eastern major Saudi Aramco.

This is one of the largest energy projects in Southeast Asia for a long while. And also an unlikely pairing of a local company with one of the most recognizable energy firms on the planet.

But looking at PTTEP's track record recently shows a determined expansion effort. With this being just the latest in a string of expansion moves by the company.

Related: Here's An Unusual Move For This Emerging Oil Major

This month, PTTEP also said it is committing over $3 billion to oil and gas exploration and development in Myanmar. Making it one of the anchor investors in this emerging terrain.

The company also said it will spend $1 billion to move forward potential liquefied natural gas projects in Mozambique. A move that will make it a cornerstone player in this key energy frontier.

All of which suggests this little-known firm is a driving force in today's petroleum world. Watch for more developments coming out of this part of the planet.

Here's to rising stars,

Dave Forest

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play