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Armed With $11 Billion, Thai Oil Giants Hunt for Investments
(Monday, March 20, 2017) LNG plants would help feed Thailand's growing demand.
Berkshire's Lubrizol to Take Majority Stake in India Joint Venture
(Monday, March 20, 2017) Lubrizol Corp, the specialty chemicals unit of Warren Buffett's Berkshire Hathaway Inc, said on Monday it plans to take majority control of its Indian joint venture with state-run Indian Oil Corp, boosting its stake to 74 percent from 50 percent.
Malaysia Petchem JV Search Continues After Saudis Join Hub
(Tuesday, March 14, 2017) Petronas Chemicals said it's in talks with petrochemical firms from Asia and Europe to invest in a $27 billion oil refining and petrochemical project, sustaining hope the country can find a partner after at least three previous deals fell through.
Malaysia's Petronas Warns on 2017 Outlook Despite Swing to Q4 Profit
(Tuesday, March 14, 2017) Malaysia's Petroliam Nasional Bhd warned on Tuesday of a cautious outlook for 2017, although sharp cutbacks in expenses by the state-run oil major allowed it to swing to a fourth-quarter profit from a loss in the year-ago period.
Iran Leapfrogs Iraq as India's No. 2 Oil Supplier in Feb -Trade Data
(Monday, March 13, 2017) The jump meant Iran replaced regional rival Iraq as India's second-biggest oil supplier - a role Tehran used to occupy before Western sanctions were imposed against it over the country's disputed nuclear program.
Oil Trading Giant Vitol Bets on Fuel Retail for Growth
(Friday, March 10, 2017) From Pakistan to Turkey, the world's largest independent oil trader Vitol is betting on a spike in gasoline and diesel demand in young and growing nations.
UK Gas Premium Eroded Even Further in Argentine Tender
(Friday, March 10, 2017) Asian spot LNG prices remained on a downward trajectory for a third month as producers fully stocked with supply struggled to place cargoes into a largely saturated market which was also tainted by low demand.
Malaysia's Petronas, Japan's Hokkaido Electric Sign LNG Supply Deal
(Thursday, March 09, 2017) Malaysian state-owned oil company Petroliam Nasional Bhd (Petronas) has signed an agreement to supply LNG to Japan's Hokkaido Electric Power Company for ten years.
India Looks for 'Right Prices' to Boost LNG, Crude Imports from U.S.
(Monday, March 06, 2017) India might increase imports of LNG from the United States at the right price, the oil minister said on Monday, even though some buyers in the South Asian country are trying to get rid of costly U.S. supplies.
India's GAIL Signs 1st Time-swap Deal for U.S. LNG with Gunvor
(Friday, March 03, 2017) The deal equates to around 5 percent of India's 2015/16 LNG imports.
Saudi Arabia Bulks Up in Asia to Boost Appeal Before Oil IPO
(Wednesday, March 01, 2017) Saudi Arabian Oil Co. bought half of a Malaysian oil refinery and petrochemical plant as it prepares for what may be the biggest ever initial public offering by bulking up its business in Asia, its largest market.
Aramco's Malaysia Deal Gives Saudis Upper Hand in Fight for Asia Oil Share
(Tuesday, February 28, 2017) Top global oil exporter Saudi Arabia broke from the pack in the race to lock up Asian market share after agreeing on Tuesday to pump $7 billion into a refinery-petrochemical complex in Malaysia, analysts said.
India's Reliance Buys Naphtha to Feed Growing Domestic Demand
(Tuesday, February 28, 2017) The purchase came at a time when Asian naphtha supplies are relatively tight due to firm demand and low volumes of Western cargoes arriving in the East.
Saudi Aramco to Invest $7 Bln in Petronas' RAPID Oil Refinery
(Monday, February 27, 2017) Malaysia's Prime Minister Najib Razak announced on Monday that Saudi Arabia's state oil company Saudi Aramco will invest $7 billion into an oil refinery project in Malaysia's southern state of Johor.
India's ONGC to Take Control of HPCL to Create Larger Oil Sector Entity -ET
(Monday, February 27, 2017) India's state-run Oil and Natural Gas Corp will take control of Hindustan Petroleum Corp as part of the government's plan to create an integrated public sector oil entity, the Economic Times daily reported on Monday citing top government officials.
Unit of India's L&T Wins $165 Mln Contract from Refiner Indian Oil Corp
(Monday, February 27, 2017) A unit of Indian engineering conglomerate Larsen & Toubro has won an onshore engineering, procurement and construction (EPC) contract from Indian Oil Corp Ltd worth 11 billion rupees ($165 million), it said in a statement on Saturday.
Azerbaijan, Future Gas Supplier To Europe, Faces Shortfall At Home
(Friday, February 24, 2017) Azerbaijan is on track to send gas to western Europe by the end of the decade, but is having to import supplies to use at home.
Top Policymakers Reassure Europe on Azeri Gas Deadline
(Friday, February 24, 2017) The Southern Gas Corridor will start pumping gas from the Caspian Sea to Europe by 2020, its backers said on Thursday, despite the risk of delays to this option for reducing dependence on Russia.
Bangladesh Hikes Natural Gas Price in Likely Blow to Garment Industry
(Friday, February 24, 2017) Bangladesh will raise natural gas prices for the second time in under two years, which should lead to higher costs for the country's $28 billion garment export industry, its economic mainstay.
Vietnam's New Nghi Son Refinery Expects to Get First Crude Oil in May
(Thursday, February 23, 2017) The 200,000-barrel-per-day plant is Vietnam's second refinery and will process Kuwaiti crude oil to produce liquefied petroleum gases, gasoline, diesel, kerosene and jet fuel, mainly for the domestic markets.