Despite the US exporting massive amounts of liquefied natural gas to Europe to partially offset supply imbalances, competition is severe due to rising demand.
As the next EU energy ministers meeting approaches, the European Commission seems to be under heat to recommend a gas price ceiling, but has not yet done so.
A new profit-sharing agreement, which will cover all the future oil production agreements and be finished before the auctions end, is currently being worked on.
UOB Singapore has proved its resolve to drive decarbonization in Southeast Asia by opting not to fund upstream oil and gas projects to reach net zero by 2050.
