(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….
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….
MARKETS: Suez blockage highlights Asia’s vulnerability to disruptions, says Wood Mackenzie
(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…)
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: Gasoline retail ripe for consolidation in the wake of COVID-19
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…)
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….