• 4 minutes Oil Price Editorial: Beware Of Saudi Oil Tanker Sabotage Stories
  • 7 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 11 minutes Magic of Shale: EXPORTS!! Crude Exporters Navigate Gulf Coast Terminal Constraints
  • 14 minutes Wonders of Shale- Gas,bringing investments and jobs to the US
  • 11 hours Trump bogged down in Mideast quagmire. US spent $Trillions, lost Thousands of lives, and lost goodwill. FOR WHAT? US interests ? WHAT INTEREST ? . . . . China greatest threat next 50 years.
  • 3 hours Why is Strait of Hormuz the World's Most Important Oil Artery
  • 3 hours Level-Headed Analysis of the Future of U.S. Shale Oil Industry
  • 15 hours Struggle For Supremacy: Kremlin Condemns Alleged U.S. Ultimatum To Turkey Over Missile Deal
  • 8 hours Apple Bid To Buy Tesla in 2013 For $240 a Share
  • 20 hours Solar Cheaper than Coal
  • 12 hours Another surprise 'build'
  • 12 hours CLIMATE PANIC! ELEVENTY!!! "250,000 people die a year due to the climate crisis"
  • 10 hours California's Oil Industry Collapses Despite Shale Boom
  • 12 hours IMO 2020 could create fierce competition for scarce water resources
  • 12 hours IMO2020 To scrub or not to scrub
  • 13 hours Global Warming Making The Rich Richer
  • 22 hours Rural and Conservative: Polish Towns Go 'LGBT free' Ahead Of Bitter European Election Campaign
Alt Text

What The Market Is Overlooking In The Occidental Deal

Occidental Petroleum has caught a…

Alt Text

How To Play A Recovery In Oil Prices?

A realistic correction in the…

Dave Forest

Dave Forest

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

More Info

Trending Discussions

Here's An Unusual Move For This Emerging Oil Major

We saw an unexpected entrant into the world's biggest deepwater play last week.

PTTEP, the national oil company of Thailand. Who signed a deal to jump into a new project realm for the company, in offshore Brazil.

The Asian petro-major will take 25% of four deepwater blocks here held by BG Group. Covering over 3,000 square kilometres in the Barreirinhas basin.

The deal is an important signal of shifts underway in the global oil sector. Particularly in terms of telling us who the next generation of major petroleum-producing countries around the world are going to be.

A company like PTTEP is quietly becoming a contender to be a big world player in oil and gas. With the firm having been expanding rapidly lately.

And not just in its backyard in Thailand. PTTEP has been aggressively stepping out of its comfort zone. Both in Asia--where it controls major projects in Vietnam, Indonesia and emerging natgas-producer Myanmar. And further afield, with the company having struck project deals in Canada, Australia, Kenya and Algeria.

That's a very aggressive expansion program for a company many investors have never heard of.

But we might be running into PTTEP a lot more soon on the global stage. The firm bears many striking similarities to another Asian major: Malaysia's Petronas. A company that bootstrapped itself into one of the most advanced offshore explorers in the world.

PTTEP isn't there yet. But the company has been making some next-generation moves on its home turf in Thailand.

The Thai oil sector is one of the first globally to apply directional drilling and multi-stage fracking. With the latter even having been executed in the offshore.

That makes this part of the world one of the most advanced in terms of unconventional development, outside the U.S.

PTTEP's new Brazilian deal is just one more sign this is a company--and a producing nation--on the rise. Something to remember as we look for hydrocarbon plays globally.

Here's to rising stars,

By Dave Forest




Download The Free Oilprice App Today

Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News