This Oil Major Just Announced A Groundbreaking Asset Sale

Back from a great trip through Asia. Where one oil and gas contact told me how profits are surging — with Spanish major Repsol recently concluding that natural gas projects in Indonesia are the most profitable segment of the company’s global operations.

And opportunities in Asian natural gas are starting to come at a quicker pace. With the current market downturn bringing some prime projects in the region up for sale — including a major asset sale announced this week from one of Southeast Asia’s biggest E&Ps.

That’s Malaysian state oil firm Petronas. Which Reuters reported yesterday is considering an unprecedented sale of a crown-jewel project.

The news service cited familiar sources as saying that Petronas is now in marketing to sell part of the SK316 offshore natgas block in Malaysian…

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