(EnergyAsia, January 29, 2023, Sunday) — With China in mind, the United States House of Representatives has passed two new laws this month that limit the President’s ability to release stockpiles from the nation’s Strategic Petroleum Reserves (SPR)….
ASIA: China, India to lead global liquids storage capacity expansion, says GlobalData
(EnergyAsia, July 20, 2022, Wednesday) — Driven by growing fears of a new energy crisis, the world will add more than a million barrels in liquid fuels storage capacity by 2026, said research firm Global Data….
CHINA: US President under fire for helping Beijing build up oil stockpile
(EnergyAsia, July 12, 2022, Tuesday) — The normally mundane act of oil stockpiling has become the latest point of irritation in the increasingly troubled ties between the United States and China….
INDIA: IndianOil to expand crude oil storage capacity at Gujarat’s Mundra port
EnergyAsia, June 8, 2022, Wednesday) — Indian Oil Corp Limited (IOC) will build nine crude oil tanks with a combined storage capacity of 540 million litres (3.4 million barrels) at Mundra Port in India’s northwestern state of Gujarat….
INDIA: Vopak joint venture as country’s largest independent tank storage operator
(EnergyAsia, June 6, 2022, Monday) — Dutch storage giant Royal Vopak has completed its joint venture with logistics provider Aegis Group to become a major independent fuel and chemicals terminal operator in India….
AUSTRALIA: Insufficient oil stockpile adds to energy price shock
(EnergyAsia, June 6, 2022, Monday) — Australia is reeling from a double whammy of record fuel and electricity prices made worse by years of official neglect of the country’s oil refining industry and stockpiling mandate….
PHILIPPINES: Shell constructing oil products terminal in Mindanao
(EnergyAsia, June 2, 2022, Thursday) — Following the closure of its only refinery in the Philippines, the local subsidiary of Anglo Dutch Shell has been expanding its oil import, storage and distribution business….
RUSSIA: India and Kazakhstan in Putin’s strategy to counter the West
(EnergyAsia, February 16, 2022, Wednesday) — The China-Russia strategy to confront the West includes a play on the energy vulnerabilities of India and Kazakhstan….
CHINA: CNPC secures more oil and gas from Russia as Ukraine war threat grows
(EnergyAsia, February 14, 2022, Monday) — Russia took the gold medal for deal-making at the Beijing Winter Olympics when it secured more than US$110 billion worth of oil and gas contracts with the games’ host last week….
CHINA: Product exports fall on rising domestic oil demand, refining sector’s consolidation
(EnergyAsia, February 12, 2022, Saturday) — China’s oil products exports will likely decline in the medium term owing to an on-going consolidation of its refining sector and Beijing’s focus on meeting the needs of domestic consumers. There is also environmental pressure to curb the country’s carbon emissions….
THAILAND: PTT’s downstream unit to invest nearly US$400 million in Asia
(EnergyAsia, January 27, 2022, Thursday) — One of Thailand’s leading downstream oil companies has announced plans to expand its retail business in Asia….
SINGAPORE: Bunker sales topped 50 million tonnes in 2021
(EnergyAsia, January 16, 2022, Sunday) — Underlining the formidable competitiveness of its port, Singapore sold 50 million tonnes of bunker shipping fuel and retained its crown as the world’s busiest transhipment hub in 2021….
VIETNAM: Oil refineries could continue recovery into 2022
(EnergyAsia, January 11, 2022, Tuesday) — Vietnam’s two oil state-owned refineries are hopeful that the industry will continue to recover after surviving negative margins and falling demand since the outbreak of the Covid pandemic two years ago….
Rystad: Southeast Asia’s oil and gas output slumped to lowest since 1998
(EnergyAsia, December 27, 2021, Monday) Rystad Energy —- The Covid-19 pandemic has marked the end of an era for Southeast Asia’s combined oil and gas production, pushing the region’s output in 2021 to below 5 million barrels of oil equivalent per day (boepd) for the first time since 1998, a threshold that is not likely (more…)
ASIA: China looms large over region’s oil storage and stockpiling decisions
(EnergyAsia, August 3, 2021, Tuesday) — China has succeeded where the International Energy Agency (IEA) and the Middle East have failed for a decade: terrify Australia to take its oil storage obligations seriously….
NEW ZEALAND: Sole refinery could become import and storage terminal
(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….