Malaysia’s Petronas sells Feb-loading Labuan crude at highest premium in years – sources
SINGAPORE, Dec 23 (Reuters) – Malaysia’s state energy company Petronas has sold a cargo of Labuan crude loading in February at the highest premium in years on strong demand for oil produced in the Asia Pacific, several trade sources said on Monday. The producer sold 300,000 barrels of Labuan crude to Royal Dutch Shell at […]
Malaysia spot crude premiums hit multi-year high on tight supplies
SINGAPORE (Reuters) – Asia-Pacific refineries are forking out multi-year high premiums for sweet crude produced in the region as alternative supplies from the West have become more expensive with the rise in shipping costs, several trade sources said on Monday. Lower exports from Indonesia and Vietnam and rising demand for very low-sulphur fuel oil (VLSFO) […]
Expert: Govt needs to develop use of LNG for transport sector
KUALA LUMPUR, Dec 20 — The government needs to take steps to develop the use of liquefied natural gas (LNG) as fuel for the transport sector as it is the cleanest and most suitable fossil fuel in today’s environmentally-friendly era. Subject matter expert, LNG development (bunkering) Mohd Rafe Mohamed Ramli said the use of LNG […]
Pavilion Energy, Total sign binding deal to develop LNG bunkering in Singapore
[SINGAPORE] Pavilion Energy Singapore and a unit of French oil major Total said on Friday they have signed a 10-year deal to develop a liquefied natural gas (LNG) bunker supply chain in the port of Singapore. The binding agreement between Pavilion, which is owned by Singapore’s Temasek Holdings, and Total Marine Fuels Global Solutions follows […]
Petronas to continue pushing for gas usage in future
KUALA LUMPUR, Nov 7 — Petroliam Nasional Bhd (Petronas) will continue to push the use of gas as a cleaner source of fuel, compared with solid and liquid fuels. Its senior vice president (corporate strategy) Mazuin Ismail said this was one of the moves to make sure that the group was working towards placing the […]
Mitsubishi to shut Singapore oil-trading unit after losses by trader
TOKYO, Nov 6 (Reuters) – Japanese trading house Mitsubishi Corp said on Wednesday it will shut down a Singapore unit that trades crude oil and petroleum products after alleging earlier that a trader racked up $320 million of losses in unauthorised trading. Mitsubishi said the unit, Petro-Diamond Singapore, “has confirmed after closing the positions concerned, […]
Sonoro Energy begins Selat Panjang concession operations in Indonesia
Selat Panjang has executed Selat Panjang PSC with the Indonesian ministry. Credit: blake.thornberry. Sonoro Energy’s wholly owned subsidiary Zamatra Bakau Straits and its Indonesian partner have commenced operations of the Selat Panjang oil and gas concession. Located in Riau province, central Sumatra, the 940km² Selat Panjang PSC is 120km south-west of Singapore. Indonesian upstream oil […]
Gas to lead transformation in energy mix
SINGAPORE – With rising sea levels and a warming planet, the transformation of the global energy mix to cleaner sources is expected to be led by the gas sector while renewables will continue to gain traction, according to a US energy official. Kurt Donnelly, deputy assistant secretary for Energy Diplomacy of the US State Department, […]
