Jet fuel refining margins turn negative as airlines ground fleets
SINGAPORE: Asian jet fuel refining margins have turned negative for the first time in over a decade as airlines continue to ground flights on international and domestic routes amid stringent travel restrictions to contain the coronavirus pandemic. The already-battered profit margins are expected to come under further pressure as there is no concrete recovery timeframe in sight, trade sources said.
Firm looks for opportunities amidst uncertainties in the energy sector
THE oil glut of the last decade, which started in late 2014, had forced many oil and gas companies to relook their business strategies. This include the move to rationalise their then bloated manpower and operating expenses. But this downturn in the industry turned out to be a blessing in disguise for D&B Energy Sdn Bhd, […]
Singapore energy, petchem firms face Malaysia lockdown
Singapore refining and petrochemical companies are scrambling to secure accommodation for their Malaysia-based workers after Malaysia banned its citizens from leaving the country over 18-31 March in a bid to limit the spread of the coronavirus.
Magnus Energy Q2 loss narrows to S$1.2m
MAGNUS Energy Group saw its net loss narrow to S$1.2 million for its second quarter ended Dec 31, 2019, from S$1.9 million a year ago. This came as the oil and gas firm saw a drop in its cost of sales and a rise in other operating income for the quarter, according to its financial results released […]
Thaioil’s Clean Fuel Project’s laying of the foundation stone signifies the group’s potential for sustainable growth
Recently, Thai Oil Public Company Limited held a foundation stone laying ceremony for its Clean Fuel Project’s main production control building. The ceremony at Thaioil refinery in Sri Racha District, Chon Buri Province, was presided over by Energy Minister Sontirat Sontijirawong. Also in attendance were Prof. Dr. Thosaporn Sirisumphand, Chairman of the Board, Mr. Wirat Uanarumit, […]
Local fuel prices fall Ks305-345 per liter in over three months
Local fuel prices have continued to fall by Ks305 to Ks345 per liter over the past three months as global oil prices went down to around US$31 per barrel, according to local filling stations. The global oil price jumped to US$76 on October 3, 2018. It then fell to U$42 per barrel on December 24. It […]
Mini oil refinery starts test run in Taungtha, handles 30,000 gals of crude oil per day
Acting Chief Minister of Mandalay Region U Zarni Aung and Deputy Minister for Electricity and Energy Dr Tun Naing inspected the test run of a mini oil refinery of MCCM Co, Ltd near Kyawzi village, Taungtha Township in Mandalay Region yesterday morning. First, the factory in-charge reported on the structure of the refinery and test run […]
SLNG, Pavilion Energy ink agreement for LNG storage and reload in Singapore
Singapore LNG Corporation (SLNG) and Pavilion Energy have signed a five-year agreement for LNG storage and reload services at SLNG Terminal on Jurong Island of Singapore. Under the agreement, Pavilion Energy, wholly-owned by Singapore government’s Temasek Holdings, will have access to tank capacity of 180,000 cu m on a segregated basis at the SLNG Terminal over […]
