THAILAND: State upstream firm PTTEP aims to boost oil and gas reserves

(EnergyAsia, January 29 2018, Monday) — Buoyed by a near 60% surge in net profit last year, Thailand’s largest oil and gas company said it plans to boost its petroleum reserves by investing in upstream projects in Southeast Asia and the Middle East. Thai PTT Exploration and Production Pcl (PTTEP) reported net profit of US$594...

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INDONESIA: 2017 trade surplus at five-year high despite increasing oil and gas trade deficit

(EnergyAsia, January 26 2018, Friday) — Indonesia is becoming less dependent on energy exports as evident from its 2017 trade surplus reaching a five-year high of US$11.83 billion despite the continuing decline in its oil and gas sales. According to the Bank of Indonesia, the country posted a 34.6% rise in the export earnings of...

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SINGAPORE: ‘World-class’ oil rig sector at risk after builders tarnished by corruption scandal

(EnergyAsia, January 24, 2018, Wednesday) — Singapore’s ‘world-class’ offshore oil and gas sector could lose lucrative oil-rig building contracts after its two leading companies were named in a scandal involving the bribery of Brazilian officials in exchange for multi-billion-dollar contracts. Until the oil market crash of 2014, Singapore, led by Keppel Offshore & Marine Limited...

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MALAYSIA: Vopak’s oil-petrochemical storage terminal on course to start up in 2019

(EnergyAsia, January 15, 2017, Monday) — Royal Vopak of the Netherlands said its jointly owned storage terminal in the southern Malaysian state of Johor is on course to begin operating in the first half of 2019. PT2SB, which is building the terminal to serve an integrated oil-petrochemical complex in the coastal town of Pengerang, passed...

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CHINA: Refiners exerting growing influence on world oil markets

(EnergyAsia, January 11, 2017, Thursday) — China’s influence on the world’s oil markets is growing, thanks in part to the increasing role of its refiners in boosting both crude imports and product exports at the same time. The rest of Asia is feeling the impact most as Chinese refiners are outbidding other crude buyers and...

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ASIA: Region’s oil bill surged by over 25% in 2017

(EnergyAsia, January 10, 2018, Wednesday) — Asia’s oil expenditure could rise another 9% in 2018 after surging by an estimated 25% last year, according to calculations based on US government data and projections. But analysts warn these numbers could prove conservative if new and bigger conflicts break out in the Middle East and North Asia....

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