CHINA: Oil demand growth underestimated by IEA and other agencies, says analyst

(EnergyAsia, May 26, 2019, Sunday) — Oil prices will find support from China for the rest of 2019 if analyst Laban Yu is proved correct that the country’s oil demand growth is much stronger than estimated by the world’s leading energy agencies….

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SINGAPORE: ExxonMobil invests in “multi-billion-dollar expansion” of plant to produce high-value lube base stocks and distillates

(EnergyAsia, April 2, 2019, Tuesday) — US major ExxonMobil has announced a “multi-billion-dollar expansion” of its manufacturing complex in Singapore to produce 20,000 b/d of group 2 lube base stocks and 48,000 b/d of low-sulphur marine fuels….

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MALAYSIA: Refining capacity on course to exceed one million b/d in 2020

(EnergyAsia, March 31 2019, Sunday) — Malaysia is on course to challenge neighbour Singapore as an oil products exporter with plans for a 60% increase in its 658,000 b/d primary refining capacity and expensive upgrades of secondary facilities over the next two years….

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MALAYSIA: Petronas net profit up 22% in 2018, but worries remain on continuation of oil price slump

(EnergyAsia, March 11 2019, Monday) — Despite the good news of a 22% rise in net profit for 2018, Malaysia’s state energy firm, Petronas Berhad, held back celebrations on account of a weak fourth quarter weighed down by falling oil prices and a slowing global economy….

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INDIA: A nation of oil hubs?

(EnergyAsia, March 6, 2019, Wednesday) — India is talking up the idea of becoming a nation of “oil hubs” as it dreams of building more strategic petroleum stockpiling sites along its two coastlines facing the Arabian Sea and the Bay of Bengal….

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CHINA: Saudi Arabia to invest in two major oil refining and petrochemical projects

(EnergyAsia, February 28 2019, Thursday) — Saudi Arabia and China have underlined their intentions for a deeper strategic tie-up through Saudi Aramco’s investments in two Chinese oil-petrochemical complexes that will cement its role as a long-term crude oil supplier to the world’s largest energy consumer….

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UZBEKISTAN: Politics and financing in the way of plan to double refining capacity

(EnergyAsia, December 6, 2018, Thursday) — Faced with a persistent fuel shortage that is threatening the economy, Uzbekistan wants to more than double its current refining capacity from around 11 million tons/year (225,000 b/d) over the next five years….

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CENTRAL ASIA: Hydrocarbon economies to have slower growth in 2018 and 2019

EnergyAsia, November 7 2018, Wednesday) — Three of Central Asia’s four hydrocarbon-exporting nations will experience consecutive years of slower growth from 2017 to 2019, predicts the European Bank of Reconstruction and Development (EBRD)….

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MALAYSIA: Oil refining capacity to rise 45% in 2019 with planned start-up of Petronas-Aramco refinery

(EnergyAsia, October 16, 2018, Tuesday) — Malaysia expects to increase its total oil refining capacity by 45% early next year to 958,000 b/d with the official start-up of a joint-venture 300,000 b/d plant between state-owned Petronas and Saudi Arabia’s Aramco….

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ASIA: As oil prices rise, fuel subsidies are back in fashion

(EnergyAsia, October 15 2018, Monday) — Some Asian countries are reviving an old habit of raising fuel subsidies in response to rising oil prices. The Brent crude price is holding firmly at a four-year high level of over US$80 a barrel as more traders bet it will breach US$100 sometime next year….

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