ASIA: Jurong Port affirms Singapore’s oil role with storage investment

(EnergyAsia, June 20 2018, Wednesday) — Singapore will remain an important centre for Asia’s booming oil trade despite the growing challenge from potential rivals in China, South Korea and Southeast Asia, said the latest entrant into the region’s independent oil storage business.

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AUSTRALIA: ExxonMobil to build new crude oil storage tank at Altona refinery

(EnergyAsia, June 16 2018, Saturday) — Mobil Refining Australia, a subsidiary of ExxonMobil, has announced it will be building a new crude oil storage tank at its Altona refinery near Melbourne city to help meet the country’s growing demand for transportation fuels.

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AUSTRALIA: As oil prices surge amid low fuel stockpile, Canberra orders another review

(EnergyAsia, May 15 2018, Wednesday) — Australia clearly believes it is still a lucky country judging from the continued sanguine response to the latest warnings that its petroleum stockpiles are stuck at emergency low levels as crude prices surged to a four-year high.

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SINGAPORE: Bunker fuel market hopeful of further growth after 2017 record sales of 50.6 million mt

(EnergyAsia, March 27 2018, Tuesday) — Buoyed by expectations for the region’s sustained economic prospects, Singapore  is hopeful its bunker fuel sales will build on last year’s record sales of 50.6 million tonnes.

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Southeast Asia’s oil self-sufficiency in rapid decline

(EnergyAsia, February 18, 2018, Monday) — If Southeast Asia’s 10 countries were to merge into a new nation, it would have the world’s third largest population, and its sixth largest economy. The region’s 640-million population would be behind China and India in size, while its combined GDP of nearly US$2.6 trillion would be larger than France’s and smaller than the United Kingdom’s.

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THAILAND: Shell to sell stake in gas fields to PTTEP for US$750 million

(EnergyAsia, February 10 2018, Saturday) — Thailand’s state-owned PTT Exploration & Production PCL (PTTEP) is making good on a promise to expand its hydrocarbon reserves with an agreement buy over Royal Dutch Shell’s combined 22.2222% stake in the Bongkot field and an adjoining acreage located off the coast of Thailand.

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INDONESIA: Boosted by higher LNG and coal prices, GDP grew at fastest rate in four years

(EnergyAsia, February 7 2018, Wednesday) — Boosted by sharply higher export prices of liquefied natural gas, coal and other commodities in 2017, Indonesia’s economy expanded by 5.07% for its fastest growth rate in four years, the government’s Central Statistics Agency has announced.

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INDONESIA: Pertamina-PGN merger could hurt country’s energy competitiveness

(EnergyAsia, February 5 2018, Monday) — in its search for energy security, Indonesia risks creating an uncompetitive giant from the planned merger of two of its largest state-owned oil and gas companies, said consulting firm Wood Mackenzie.

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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.

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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.

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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.

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MARKETS: Oil prices recovered in 2017 on strong demand growth, declining inventories, says EIA

(EnergyAsia, December 23, 2017, Saturday) — Without much fanfare, the oil markets have recovered strongly over the past year, with Brent crude rising by nearly a quarter or US$10 a barrel, said the US Energy Information Administration (EIA).

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INDIA: Domestic oil demand continues to surge, partly boosted by new GST and economic reforms, say consultants

(EnergyAsia, November 18 2017, Saturday) — India’s domestic oil consumption is surging, helped in part by recent economic reforms including the introduction of the national goods and services tax (GST), said two energy consultants.

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