INDONESIA: Medco Energy pays US$570,000 for stake in West Papua province

Canada’s Continental Energy Corp has announced the farm-out to PT Exspan Yapen of a 90% share of the Yapen Block production sharing contract (PSC) area offshore West Papua province in Indonesia. PT Exspan Yapen is a wholly owned subsidiary of Indonesia’s PT Medco Energi Internasional Tbk. After the deal, the Canadian company’s 60% owned subsidiary, […]

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INDONESIA: BP Indonesia in talks with several potential buyers for Peni chemical jv

JAKARTA (AFX-ASIA) – BP Indonesia said it is in talks with several parties interested in acquiring 100 pct of its chemical joint venture, PT Petrokimi Nusantara Interindo (Peni). It would not comment on either the book or market value of Peni, Indonesia’s first polyethylene plant which came on stream in February 1993. It has installed […]

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CHINA: Chiwan Petroleum Base posts 0.6% rise in 9 months net profit Ð CAS

SHANGHAI (AFX-ASIA) – Shenzhen Chiwan Petroleum Supply Base Co Ltd posted a net profit of 47.37 million yuan during the nine months to September from 47.08 million a year earlier. (US$1=8.28 yuan). The results were compiled according to Chinese accounting standards. Excluding extraordinary items, the company’s net profit during the nine months was 47.55 million […]

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COMPANY: Vopak confirms chairman and CFO at EGM

Dutch logistics company Royal Vopak has announced a number of resolutions taken at last week’s Extraordinary General Meeting. J.D. Bax has been named chairman in place of D.R. de Kat who has also resigned as a board member. In addition, the company appointed J.P. de Kreij as a board member and chief financial officer from […]

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CHINA: ExxonMobil awarded lubricants contract for turbine units at Three Gorges Dam

An ExxonMobil affiliate has been awarded the contract to supply specialised lubricants for the first 14 hydro-turbine units to be installed at the Three Gorges Dam in China, the world’s largest hydroelectric project. “We are extremely proud to be working with the China Yangtze Three Gorges Project Development Corporation in solving the challenging technical issues […]

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THE LUBRICANTS BUSINESS IN SOUTHEAST ASIA: The Role Of Independents

By Ho Leng Woon * (The full version of this story is published in the November edition of EnergyAsia Report. Please contact Sales@EnergyAsia.com for details). Except for Singapore, Malaysia and Brunei, the member countries of the Association of Southeast Asian Nations (ASEAN) impose high import tariffs on finished lubricants and base oils. Singapore, Malaysia and […]

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