Hengyi’s Brunei refinery takes first Saudi crude
Brunei has received its first-ever shipment of Saudi Arabian crude, with Chinese private-sector refiner Hengyi buying a cargo for its joint-venture Brunei refinery, Aramco Singapore said. Hengyi bought a 1mn bl spot cargo of Saudi Arab Medium crude from state-controlled Saudi Aramco for June delivery to its 175,000 b/d Brunei refinery, which began commercial operations in […]
Ratch giving Teco to Hin Kong Power
Ratch Group has announced a plan to decommission the wholly owned Tri Energy (Teco), a 20-year-old operator of a combined-cycle power plant, after its power purchase agreement (PPA) with Electricity Generating Authority of Thailand (Egat) expired on June 23. Kijja Sripatthangkura, Ratch’s chief executive, said the company will have Hin Kong Power, which is jointly owned […]
CIMB alleges Singapore-based oil trader Hontop Energy made ‘suspicious’ deals
SINGAPORE (REUTERS) – Singapore’s High Court has appointed an independent supervisor to oversee the restructuring of oil trader Hontop Energy (Singapore). The move came after Malaysian lender CIMB, its biggest creditor, raised concerns about what it described as “suspicious” deals involving oil major BP, according to an affidavit filed with the court last week and reviewed […]
Oil prices outlook still uncertain as demand slow down, says Malaysia’s Sapura
KUALA LUMPUR, July 3 (Bernama): The outlook for oil prices outlook will continue to be uncertain, largely driven by the double jeopardy of a slowdown in demand and unabated supply from producers, said Sapura Energy Bhd. President and group chief executive officer Tan Sri Shahril Shamsuddin said accordingly, the oilfield services and equipment as well […]
Petronas-linked shares’ prices up after crude oil gains
KUALA LUMPUR (July 3): Petronas Chemicals Group Bhd’s (PetChem) and Petronas Dagangan Bhd’s (PetDag) share prices rose in early trade today in an apparent response to the crude oil price rise during overnight trading. As at 9.21am, PetChem had risen 13 sen or 1.98% to RM6.68 while PetDag had climbeded 20 sen or 0.97% to RM20.90.
Myanmar LNG projects overcome pandemic and sceptics
China and Hong Kong-led consortium has started operating first of three planned facilities as Yangon targets nationwide electrification. A Chinese-backed LNG-to-power project that recently started generating electricity for the largest city in Myanmar underlines rising Chinese involvement in the Southeast Asian country’s growing gas and power sectors.
Indonesia’s LNG imports continue to rise despite economic downturn
Indonesia’s LNG imports are expected to be resilient against the coronavirus-led global economic downturn, says Wood Mackenzie. The country’s H2 2020 LNG imports could hit 3.1 million tonnes (Mt), a 1.2 Mt or 63% increase year-on-year.
Give us more assistance to recover, FMM requests energy providers
PETALING JAYA: The Federation of Malaysian Manufacturers (FMM) has called for more assistance from energy providers to help the industry tide over the economic downturn caused by the Covid-19 pandemic.
