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….

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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….

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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….

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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….

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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….

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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….

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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)….

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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….

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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….

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