(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….
MALAYSIA: Dialog opens RM1.6-billion Pengerang oil terminal off Johor state
(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….
CHINA: World’s largest crude exporter becoming major refined products exporter
(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….
MALAYSIA: Economy rocked by political instability, fights over oil revenues as Petronas struggles
(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….
PHILIPPINES: Singapore’s Keppel subsidiary to acquire storage firm for US$267 million
(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….
AUSTRALIA: Oil refining industry faces prospect of collapse
(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….
PHILIPPINES: Petron threatens to shut down country’s remaining refinery
(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….
JAPAN: Eneos to convert Osaka refinery, focus Chiba plant on exports
(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….
ASIA: Oil stored in offshore tankers easing on uptick in demand
(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….
SRI LANKA: China-backed Hambantota Port says tank farm and fuel services fully operational
(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….
CHINA: Crude imports, stockpiling continue at record pace amid low oil prices
(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….
INDIA: Strategic petroleum stockpile at record level as storage efforts shift to tankers
(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….
CHINA: Shortage of storage capacity hampers Shanghai exchange’s global oil pricing ambition
(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)….
AUSTRALIA: Canberra to set up first state-owned crude stockpile
(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)….
MARKETS: Asia whiplashed as oil goes from the threat of US$200 a barrel to the reality of US$20
(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….
ASIA: Region’s falling oil demand to weigh on global markets
(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….
PHILIPPINES: Oil industry headed for sharp downturn on consumption decline and weak margins
(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….
THAILAND: PTT’s expansion plan under threat as outlook darkens, net profit down 22.3% for 2019
(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….
SINGAPORE: Bunker fuel sales expected to fall further 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….
MALAYSIA: Petronas expects a bleak 2020 after a weak 2019
(EnergyAsia, March 24, 2020, Tuesday) — Malaysia’s state energy firm, Petronas, is bracing for further declines to its revenue and profit in 2020, following through on last year’s dismal showing….
MALAYSIA: Refinery start up further delayed after huge fire, explosion
(EnergyAsia, March 19, 2020, Thursday) — Southeast Asia’s largest refinery-petrochemical complex will be further delayed from a full commercial start-up after it was hit by another massive fire, its second in less than a year….
INDIA: Saudi Aramco takes tentative steps to invest in downstream oil market
(EnergyAsia, December 10, 2019, Tuesday) — Despite emitting signs of an impending deal, Saudi Arabia is still no clearer to making its first investment in India’s five-million-b/d oil market….
INDIA: Energy security to weaken as OPEC predicts more than doubling of oil demand by 2040
(EnergyAsia, November 27, 2019, Wednesday) — India is unlikely to resolve its energy supply challenge for at least another 20 years, judging by the latest oil forecast issued by the Organisation of Petroleum Exporting Countries (OPEC)….
Asia: Energy anxiety grows on strong outlook for oil demand
(EnergyAsia, November 22, 2019, Friday) — These days, the growing divide between Asia and the West isn’t just confined to trade issues or human rights….
AZERBAIJAN: Fears of US capital flight on Chevron asset sale with Exxon next
(EnergyAsia, November 20, 2019, Wednesday) — Azerbaijan is bracing for the loss of vital American investment in its fragile economy following Chevron’s exit from the country’s oil industry that could soon be followed by ExxonMobil….