Argentina’s state-controlled energy company YPF and Malaysia’s Petronas are forming a joint venture to invest $2.3 billion over the next four years in the country’s Vaca Muerta shale oil fields, the president’s office announced on Tuesday. State-owned Petronas will have an equal stake in the project through its subsidiary Petronas E&P Argentina SA, the presidency […]

The Port of Singapore’s surprise decision to ban the discharge of scrubber-produced pollutants known as ‘wash water’ into its seas is likely to accelerate the use of LNG as marine fuel – especially in the Asia Pacific region – because of the importance of the port as a bunkering facility. The announcement, which was made by the […]

Singapore — The Singapore reforming spread, which measures the difference between FOB Singapore 92 RON gasoline and the FOB Singapore naphtha derivative, tanked to a near eight-year low of $6.58/barrel at 0830 GMT close of Asian trade Tuesday, pressured by thin blending demand thanks to a chronic oversupply of gasoline. The reforming spread was last […]

SINGAPORE, Dec 5 (Reuters) – Singapore’s refinery margins for making gasoline have fallen to their weakest levels in seven years – so low that churning out this key motor fuel has become a loss-making business. Seen as a benchmark across Asia, Singapore margins for 92 RON gasoline against Brent crude oil GL92-SIN-CRK hit minus $1.44 […]

TOKYO: * Tokyo Gas Co has signed a joint development agreement with Philippines’ First Gen Corp to build and operate a liquefied natural gas (LNG) receiving terminal in the Philippines, its first foray into energy infrastructure development in Southeast Asian country * A Tokyo Gas spokesman declined to comment on the investment amount * The […]

Retail petrol prices in the Kingdom continued to fall on Monday amid an increase in crude oil prices in the international market. This follows the renewal of a pact between two top oil producers to cap output and the temporary trade cease fire between the US and China. A Ministry of Commerce statement released on […]

Most economies are net crude importers and benefit from lower prices JAKARTA — Rattled by rapid oil price swings in recent months, Southeast Asian economies are on tenterhooks ahead of an OPEC meeting this week that is expected to result in a supply cut to boost prices. The recent plunge in prices — the benchmark […]

KUALA LUMPUR: Sapura Energy Bhd will be able to ride over the challenging third quarter financial results ended September due to its strong fundamentals, solid order book of RM18.2 billion, rebounding crude oil prices as well as full support of its majority shareholder, Permodalan Nasional Bhd. Analysts and industry sources said these are challenging times […]

KUALA LUMPUR (Dec 3): Reach Energy Bhd announced today that initial testing of the exploration well at North Kariman-3 (NK-3) in its Emir Oil concession block onshore Kazakhstan has yielded positive results. “The NK-3 well has been safely and successfully executed as budgeted,” it said, noting that the well penetrated the target Mid-Triassic carbonate reservoirs, […]

Arkansas-based Murphy Oil is reportedly in talks to sell oil and natural gas assets in Malaysia, including its majority interests in eight separate offshore production-sharing contracts. The move comes after a compelling, but unsolicited bid that could fetch between $2 billion and $3 billion for Murphy Oil, Reuters reported last week. The proposed deal could […]