(EnergyAsia, June 21, 2019, Friday) — Singapore will likely remain Asia’s main oil trading hub despite a growing challenge from countries in the region as they expand their domestic storage and refining investments, according to an industry analyst….
PHILIPPINES: Work on strategic oil stockpile likely to proceed slowly
(EnergyAsia, June 18 2019, Tuesday) — It’s been over a year since the Philippines government announced its latest intention to establish a strategic petroleum reserves (SPR) to help the country cope with volatile prices and the possibility of future supply disruptions….
MALAYSIA: Government backs large offshore oil storage project to compete against Singapore
(EnergyAsia, June 16, 2019, Sunday) — Malaysia is stepping up its oil storage investment programme to compete against Singapore for the role of trading and logistics hub in Southeast Asia….
AUSTRALIA: Government report defends lack of urgency in oil stockbuilding
(EnergyAsia, June 10 2019, Monday) — Australia is in no hurry to build up its liquid fuels stockpile nor does it see the need to expand the country’s inadequate oil refining capacity despite nagging worries of a supply shock if imports are disrupted….
SINGAPORE: Shell expands crude oil storage capacity by 1.3 million barrels
(EnergyAsia, June 7 2019, Friday) — Royal Dutch Shell has expanded its crude oil storage capacity in Singapore by more than 5% to 25.82 million barrels with the addition of two new tanks….
INDIA: Talks with Saudi Arabia and Abu Dhabi for refinery, storage deals continue at snail’s pace
(EnergyAsia, June 3 2019, Monday) — India’s hopes of securing multi-billion-dollar investments in downstream oil refinery and storage projects from Saudi Arabia and Abu Dhabi remain stuck in slow-traffic negotiations….
AUSTRALIA: Fossil fuels industry boosted by re-election of Scott Morrison as prime minister
(EnergyAsia, May 29, 2019, Wednesday) — Australia’s fossil fuels industry heaved a collective sigh of relief following the surprise re-election of the climate skeptic and political conservative Scott Morrison as prime minister in the country’s recently concluded general election….
INDIA: Booming economy trumped oil concerns under Modi government’s first term
(EnergyAsia, May 28, 2019, Tuesday) — In his first term as India’s prime minister, Narendra Modi delivered a booming economy and fuelled nationalistic pride….
CHINA: Oil demand growth underestimated by IEA and other agencies, says analyst
(EnergyAsia, May 26, 2019, Sunday) — Oil prices will find support from China for the rest of 2019 if analyst Laban Yu is proved correct that the country’s oil demand growth is much stronger than estimated by the world’s leading energy agencies….
ASIA: Rising US oil exports helping to calm region’s nerves, but for how long?
(EnergyAsia, May 24, 2019, Friday) — Underpinned by Asia’s continuing strong energy appetite, US crude exports surged to a record two million b/d last year from 1.2 million b/d in 2017….
ASIA: Rising US crude exports to partly replace loss of Iran, Venezuela supplies
(EnergyAsia, May 6 2019, Monday) — The United States’s emergence as a leading global crude oil exporter in 2019 will partly help Asia cope with the loss of supply from Iran and Venezuela, two analysts said….
ASIA: Refiners under pressure from “unfavorable” industry fundamentals, says Moody’s
(EnergyAsia, May 2, 2019, Thursday) — Asia’s oil refiners will have to live off meager earnings for the rest of the year due to weak market conditions carried over from 2018, said Moody’s Investor Service….
SOUTH KOREA: Saudi Aramco strengthens grip on North Asian oil market with new refinery stake
(EnergyAsia, April 29 2019, Monday) — Saudi Arabia has taken a firmer grip on the oil markets in northern Asia with the purchase of a share in a second refining company in South Korea….
INDIA: Saudi oil investment within sight, but doubts linger
(EnergyAsia, April 22, 2019, Monday) — Perhaps the biggest litmus test of whether India is truly open for business is whether it will finally secure Saudi Arabia’s investment for its downstream oil sector….
INDIA: International oil companies eye fast-growing fuel market
(EnergyAsia, April 15, 2019, Monday) — Having overtaken China as the world’s fastest growing major economy since 2015, India has also become a huge fuel guzzler….
INDIA: Oil prices holding steady as Modi favoured to win second term as Prime Minister
(EnergyAsia, April 12, 2019, Friday) — The oil markets are once again trading in Narendra Modi’s favour as he bids to win a second term as India’s Prime Minister in the country’s current general election….
SOUTHEAST ASIA: Region’s oil products deficit projected to remain at 1.5 million b/d
(EnergyAsia, April 3, 2019, Wednesday) — Southeast Asia’s oil products deficit will remain substantial at around 1.5 million b/d despite an expected rapid increase in its refining capacity in the coming years….
SINGAPORE: ExxonMobil invests in “multi-billion-dollar expansion” of plant to produce high-value lube base stocks and distillates
(EnergyAsia, April 2, 2019, Tuesday) — US major ExxonMobil has announced a “multi-billion-dollar expansion” of its manufacturing complex in Singapore to produce 20,000 b/d of group 2 lube base stocks and 48,000 b/d of low-sulphur marine fuels….
MALAYSIA: Refining capacity on course to exceed one million b/d in 2020
(EnergyAsia, March 31 2019, Sunday) — Malaysia is on course to challenge neighbour Singapore as an oil products exporter with plans for a 60% increase in its 658,000 b/d primary refining capacity and expensive upgrades of secondary facilities over the next two years….
SINGAPORE: Bunker market to remain under pressure after last year’s 1.6% decline
(EnergyAsia, March 30, 2019, Saturday) — Singapore’s bunker fuels market is expected to remain under pressure in 2019 to follow on last year’s 1.6% decline in sales volume….
BRUNEI: Asia’s latest oil products exporter when refinery starts up in second half 2019
(EnergyAsia, March 25, 2019, Monday) — Brunei expects to soon join Asia’s crowded bandwagon of oil products exporting nations when its US$3.4-billion refinery-petrochemicals complex starts up later this year….
INDIA: A nation of oil hubs?
(EnergyAsia, March 6, 2019, Wednesday) — India is talking up the idea of becoming a nation of “oil hubs” as it dreams of building more strategic petroleum stockpiling sites along its two coastlines facing the Arabian Sea and the Bay of Bengal….
MALAYSIA: Weak oil prices, economy weighed on Petronas’s retail subsidiary
(EnergyAsia, March 5, 2019, Tuesday) — A combination of lower oil prices, weaker margins and rising cost slashed the net profit of Malaysia’s leading domestic downstream oil company by nearly 45% last year….
INDIA: Dubai’s ENOC Group and Indian Oil Corporation to jointly develop and market high-end lubricants for ships for ships
(EnergyAsia, February 26 2019, Tuesday) — Dubai’s ENOC Group said it has formed a strategic alliance with Indian Oil Corporation (IOC) to develop and supply high-end lubricants to the shipping industry in support of tougher environmental standards on marine fuels from January 1, 2020. The two state-owned companies of their respective countries will jointly invest...
TURKMENISTAN: Hope for economy on Russian offer to resume natural gas imports
(EnergyAsia, December 16, 2018, Sunday) — Turkmenistan’s troubled economy will receive a timely boost if Russia follows through on plans to resume importing natural gas from the Central Asian state starting January 1….