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
17 February 2026
The 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia from 26–30 April 2026, will bring together leaders from the political, industrial, financial and technology sectors under the unifying theme “Pathways to an Energy Future for All”
17 February 2026
Siemens Energy has been active in the Kingdom for nearly a century, evolving over that time from a project-based foreign supplier to a locally operating multi-national company with its own domestic supply chain and workforce
17 February 2026
Eni’s chief operating officer for global natural resources, Guido Brusco, takes stock of the company’s key achievements over the past year, and what differentiates its strategy from those of its peers in the LNG sector and beyond
16 February 2026
As the third wave of global LNG arrives, Wood Mackenzie’s director for Europe gas and LNG, Tom Marzec-Manser, discusses with Petroleum Economist the outlook for Europe’s gas market in 2026
