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
28 April 2026
Datacentres will guzzle power at a ferocious rate, but the impact on wider energy markets will be far more complex than previously thought
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security
24 April 2026
The European Commission’s response to the Middle East crisis is to double down on its transition strategy, with plans for a new target on electrification
24 April 2026
A major new discovery by Eni and BP that can likely be fast-tracked to production is welcome news for Egypt as it scrambles to plug a widening supply gap and deal with rising import risks
