(EnergyAsia, August 2, 2021, Monday) — New Zealand could become the first industrialised economy to be without an oil refinery when investors vote Friday August 6 to decide whether to convert the country’s only fuel-producing plant into an import and storage terminal….
INDIA: Crude oil storage capacity to more than double in second-phase expansion
(EnergyAsia, August 1, 2021, Sunday) — India will add 6.5 million tonnes of crude oil storage capacity in a second-phase expansion to lift the nation’s total to 11.83 million tonnes (87 million barrels)….
SRI LANKA: With China’s backing, Hambantota looks to expand oil storage and supply role
(EnergyAsia, July 19, 2021, Monday) — Sri Lanka is looking to expand its oil supply role in southern Asia as it continues to beef up the logistical infrastructure in and around the island country’s main port of Hambantota….
AUSTRALIA: With 33 days of oil stockpile, government beats “drums of war” in Asia
(EnergyAsia, June 30, 2021, Wednesday) — If Australia is preparing for war in the Asia Pacific region, its approach to fuel supply security could be a major weakness….
INDONESIA: Oil storage projects could spur economic development of eastern provinces
(EnergyAsia, June 19, 2021, Saturday) — Indonesia is hoping to jumpstart the economy of two of its poorest provinces with the construction of oil storage tanks and a jetty in the country’s remote easternmost major port city of Sorong….
MALAYSIA: Petronas looks to recover after first-ever annual loss in 2020
(EnergyAsia, May 12, 2021, Wednesday) — Malaysia’s state energy firm Petronas will be looking to higher oil prices and an improving economy this year to bounce back from its first-ever annual financial loss in 2020….
THAILAND: Oil demand plunged nearly 10% in 2020, will remain weak in 2021
(EnergyAsia, May 9, 2021, Sunday) — Thailand’s oil demand plunged nearly 10% in 2020 as the economy shrank 6.1% under the impact of the COVID pandemic….
BRUNEI: Economy grew in 2020, thanks to full operation of refining-petrochemical complex
(EnergyAsia, May 4, 2021, Tuesday) — Spared the full impact of the COVID-19 pandemic, Brunei’s economy was among a fortunate few that grew in 2020 when most of the world fell into a deep recession….
INDONESIA: COVID-19, lack of foreign interest threaten $60 billion plan for refining sector
(EnergyAsia, April 29, 2021, Thursday) — Indonesia’s proposed US$60 billion plan to expand and upgrade its ageing oil refining sector is at risk of being held back by the lack of interest from foreign investors and the economy’s continuing uncertain outlook….
SINGAPORE: LNG adds to shipping fuel supply role
(EnergyAsia, April 14, 2021, Wednesday) — Singapore has added liquefied natural gas (LNG) fuelling to its menu of services for the world’s shipping fleet calling at its port….
MALAYSIA: Dialog opens RM1.6-billion Pengerang oil terminal off Johor state
(EnergyAsia, April 11, 2021, Sunday) — Malaysia’s southern Johor state continues to expand its oil storage role in Asia with the official start-up of another 430,000 cubic metres of capacity off the port of Pengerang last week….
CHINA: World’s largest crude exporter becoming major refined products exporter
(EnergyAsia, January 17, 2021, Sunday) — The world’s largest oil importer is on course to become a major exporter of refined products, helped in part by the COVID-19 pandemic’s impact on the global economy….
MALAYSIA: Economy rocked by political instability, fights over oil revenues as Petronas struggles
(EnergyAsia, January 3, 2021, Sunday) — Thirty years ago, the Malaysian government unveiled a grand vision for the country to become a developed economy by 2020….
PHILIPPINES: Singapore’s Keppel subsidiary to acquire storage firm for US$267 million
(EnergyAsia, December 10, 2020, Thursday) — A joint venture firm led by a subsidiary of Singapore’s Keppel Corp will acquire the Philippines’ largest petroleum storage facility for US$267 million….
AUSTRALIA: Oil refining industry faces prospect of collapse
(EnergyAsia, November 25, 2020, Wednesday) — Australia could become the world’s first major economy to be without an oil refinery as the industry faces a complete wipeout from mounting financial losses….
PHILIPPINES: Petron threatens to shut down country’s remaining refinery
(EnergyAsia, November 1, 2020, Sunday) — The Philippines could become Asia’s first major country without an oil refinery if Petron Corp carries out its threat to close down the country’s remaining plant….
JAPAN: Eneos to convert Osaka refinery, focus Chiba plant on exports
(EnergyAsia, October 20, 2020, Tuesday) — In response to Japan’s declining domestic oil consumption, the country’s largest downstream company, Eneos Holdings, has announced a restructuring of the ownership and operations at two of its refineries….
ASIA: Oil stored in offshore tankers easing on uptick in demand
(EnergyAsia, June 19, 202, Friday) — The recent uptick in Asia’s oil demand, led by China and India, has contributed to a decline in crude and products stored in tankers, say analysts. The two countries account for 55% of the region’s 36 million barrels/day oil market….
SRI LANKA: China-backed Hambantota Port says tank farm and fuel services fully operational
(EnergyAsia, June 16, 2020, Tuesday) — Sri Lanka has taken another step forward to becoming a fuels trading hub in South Asia with the start-up of an oil tank farm and bunker fuel supply services in the southeastern port of Hambantota….
CHINA: Crude imports, stockpiling continue at record pace amid low oil prices
(EnergyAsia, June 13, 2020, Saturday) — With the Brent crude price hovering at a four-year low of just under US$40 a barrel, China has been importing oil at a record rate and planning to expand storage capacity….
INDIA: Strategic petroleum stockpile at record level as storage efforts shift to tankers
(EnergyAsia, May 9, 2020, Saturday) — India has boosted its strategic petroleum reserves to a record 32 million tonnes or over 235 million barrels after a recent spate of buying to take advantage of the collapse in world oil prices….
CHINA: Shortage of storage capacity hampers Shanghai exchange’s global oil pricing ambition
(EnergyAsia, May 3, 2020, Sunday) — China’s attempt to have a bigger influence on world crude prices has been partly hampered by the lack of storage capacity to help traders settle oil futures contracts on the Shanghai International Energy Exchange (INE)….
AUSTRALIA: Canberra to set up first state-owned crude stockpile
(EnergyAsia, April 25, 2020, Saturday) — After years of debate and delay, Australia has announced it will establish its first state-owned crude oil stockpile with an initial investment of A$94 million (US$1=A$1.56)….
MARKETS: Asia whiplashed as oil goes from the threat of US$200 a barrel to the reality of US$20
(EnergyAsia, April 20, 2020, Monday) — In under six months, the world went from fearing the devastating prospects of crude oil at US$200 a barrel to experiencing the equally devastating reality of the commodity’s collapse to $20….
ASIA: Region’s falling oil demand to weigh on global markets
(EnergyAsia, April 12, 2020, Sunday) — Asia will drag down global oil demand growth for 2020, said the Organisation of Petroleum Exporting Countries (OPEC) in its latest monthly report for March….