Archive | September, 2007

CHINA: Rotary Engineering takes 45% stake in joint venture LNG business

(EnergyAsia, October 1, Monday) — Singapore-listed Rotary Engineering Limited said it has agreed with Beijing Everthriving Energy Technology Co Ltd to form a joint venture company to undertake the transportation and sales of liquefied natural gas (LNG) in China. ((adsense)) The newly formed Jinzhou Everthriving Logistics Co Ltd will have an initial paid-up capital investment […]

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ASIA: Oil demand remains strong despite $80 oil

(EnergyAsia, October 1, Monday) — Thanks to price subsidies and its strong economic outlook, Asia’s oil demand will continue to grow despite record oil prices, the International Energy Agency (IEA) forecasts. US crude futures exceeded US$80/barrel for the first time on September 12, and stayed above that level for the most of the remainder of […]

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INDIA: Reliance said interested in Kenya oil refinery

(EnergyAsia, October 1, Monday) — India’s privately held Reliance Industries is apparently keen on acquiring a stake in the state-owned Kenya Petroleum Refinery (KPR), said Indian media reports. KPR’s oil refining capacity of 4 million tonnes a year could help Reliance source oil products for European and American markets. A move on KPR would follow […]

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MALAYSIA: Authorities crack down on diesel smuggling

(EnergyAsia, October 1, Monday) — The Malaysian government is cracking down on diesel smuggling following the discovery of 128 cases in recent weeks. The outbound smuggling of low-priced Malaysian diesel has become a lucrative trade as world prices continue to rise. Malaysian smugglers are re-selling their fuel to the Philippines and Myanmar where diesel prices […]

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MALAYSIA: New storage terminal planned in Kedah

(EnergyAsia, October 1, Monday) — A privately held Malaysia company, Pristine Oil, said it is planning to build a one-million-tonne crude storage terminal in the northern state of Kedah. The complex in the Yan Petroleum Industrial Zone will include 52 storage tanks on just over 100 hectare of land. Pristine Chief Operating Officer Kamarulzaman Mohamad […]

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SINGAPORE: Hin Leong’s Universal Terminal to start up in early 2008

(EnergyAsia, October 1, Monday) — Singapore oil trading firm Hin Leong expects its US$455 million Universal Terminal oil storage terminal to start up in the first quarter of 2008. The 2.3-million-cubic-metre terminal is Asia’s largest commercial oil storage facility. It will boost Singapore’s overall oil products storage to 8.1 million cubic metres. In recent years, […]

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THAILAND: Refiners to stop exporting LPG by year-end

(EnergyAsia, October 1, Monday) — Under pressure from the government, Thailand’s oil refiners have promised to stop exporting liquefied petroleum gas (LPG) this year as domestic demand is growing rapidly. The refiners will have reason to complain as domestic LPG prices are lower than what the refiners could sell for to international buyers. LPG use […]

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