(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….
(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….
(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….
(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….
(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….
(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….
(EnergyAsia, April 10, 2021, Sunday) — The following is a series of comments written by analysts at consulting firm Wood Mackenzie. Introduction by Gavin Thompson, Asia Pacific vice chair of Wood Mackenzie. Asia’s economies are intimately linked to global maritime trade. Cargo vessels sailing from the ports of Northeast Asia’s export giants supply the consumers (more…)
(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….
(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….
(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….
(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….
(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….
(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….
COMMENT By Abhi Bhuchar * (EnergyAsia, July 17, 2020, Friday) — For most segments of the oil and gas industry in Asia, the outlook is dismal for the next two years at least. One exception may be fuel retailing where a fractionalized market with large swaths of underdeveloped assets seems headed for consolidation and major (more…)
(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….
(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….
(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….
(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….
(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)….
(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)….
(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….
(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….
(EnergyAsia, April 2, 2020, Thursday) — The Philippines’ oil industry is bracing for its worst year in over a decade as the nation’s fuels consumption is expected to plunge in line with global trends….
(EnergyAsia, March 31, 2020, Tuesday) — PTT plc, Thailand’s main energy firm, may have to revise its ambitious expansion plan as it faces the simultaneous threats of a global economic recession, slumping oil and gas prices, and declining profitability in 2020….
(EnergyAsia, March 29, 2020, Sunday) — With the global economy in freefall, Singapore’s bunker fuel trade volume will likely fall further — and sharply — in 2020 to “achieve” an unprecedented three consecutive years of decline….