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
20 March 2025
As cash-strapped Western governments commit to substantially raising defence expenditure, a similar dynamic is playing out in Saudi Arabia’s oil and gas sector, as Saudi Aramco maintains it heavy capex push despite reduced revenues
20 March 2025
Tariffs, sanctions and trade conflicts are upending the oil market, impacting crude differentials and shipping rates and creating uncertainty
20 March 2025
While advanced economies debate peak fossil fuel demand, billions of people still lack access to reliable and affordable energy, especially in the Global South
19 March 2025
Iran’s oil is caught in the crosshairs of support from China and Russia and US maximum pressure, with options becoming more and more limited
