(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.
(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.
(EnergyAsia, May 25 2018, Friday) — Abu Dhabi has begun storing crude oil in India with the first delivery of a two-million barrel cargo to an underground cavern in the western port of Mangalore early this week.
(EnergyAsia, May 25 2018, Friday) — China may have built up the world’s largest strategic petroleum capacity in 2017, according to data provided by the International Energy Agency (IEA).
(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.
(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.
(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.
(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.
(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.
(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.
(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.
(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.
(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.
(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.
(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.
(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.
(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).
(EnergyAsia, December 21, 2017, Thursday) — India will continue to outpace China and remain as Asia’s fastest growing major economy and energy consumer, according to the World Bank.
(EnergyAsia, December 16 2017, Saturday) — Australia’s natural gas industry is heading into 2018 in “confident new mood” as it continues to recover from a three-year slump, said energy veteran Graeme Bethune.
(EnergyAsia, December 9 2017, Saturday) — Saudi Arabia’s state-owned firm, Aramco, said it has started up its international trading subsidiary in Singapore to serve Asia’s growing oil markets.
(EnergyAsia, December 4, 2017, Monday) — Due largely to reduced production and rising consumption in Asia, the world’s diesel supply will fall short of demand growth next year, said US consultant ESAI Energy Inc.
(EnergyAsia, November 21 2017, Tuesday) — With the price of Brent crude recently touching a two-year high, India is bracing for a sharp rise in its oil expenditure for the current fiscal year ending March 31 2018.
(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.
(EnergyAsia, November 5 2017, Sunday) — Energy experts have cast doubts on the Indian government’s plan to boost domestic oil and gas production over the next five years, never mind the long term.
(EnergyAsia, October 21 2017, Saturday) — India must speed up the expansion of its oil and gas infrastructure as well as the pace of energy reforms to sustain the country’s recent rapid rate of economic growth, said three analysts with consultant Wood Mackenzie.