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ADB backs clean power in Indonesia

The ADB has announced the first drawdown of funds under a $305m financing package for Indonesia’s largest combined-cycle gas turbine power plant. The project in Karawang, West Java, will be one of the first and largest projects in Indonesia to use liquefied natural gas (LNG) in a 1,760-megawatt power station. “ADB is a partner of […]

ADB signs $227.7m loan deal for 2,500MW power plant in Thailand

The Asian Development Bank (ADB) has signed a $227.7m loan deal with Gulf SRC Company to build a 2,500MW combined cycle power plant (CCPP) in Thailand’s Chonburi Province. Established in 2012, Gulf SRC builds and operates power plants and is completely owned by Independent Power Development, a joint venture (JV) between Thailand-based power generation company […]

ADNOC to supply FSU for AG&P’s Philippines LNG import terminal

ADNOC L&S will supply, as well as operate and maintain the vessel named ISH, a 137,512 cubic metre (cm) FSU for the project in Batangas Bay. The FSU is being chartered for 11 years with an option to extend by another four years.

AEI Corp enters into framework agreement with China’s Zhongneng Intl Gas for LNG business activities

ALUMINIUM producer AEI Corporation on Monday said it has entered into a “framework agreement” with Zhongneng International Gas Co (ZNI) to potentially collaborate on business activities involving liquefied natural gas (LNG). This comes after the company last month flagged that it could be placed on the Singapore Exchange’s (SGX) watch list. In a bourse filing on May 24, […]

After 40 years, Matinloc, Nido oil fields cease production

THE Department of Energy (DOE) said Monday that Nido and Matinloc oil fields in Northwest Palawan have ceased producing oil. The agency participated last November 7 in the closing ceremony for the cessation of production operations of the oil fields. “The closing of Nido and Matinloc’s production comes after over 40 fruitful years. Throughout their operations, […]

After a year of losses, Shell swings back to profit on oil price recovery

LONDON: Royal Dutch Shell swung back into profit in the first quarter as oil prices recovered strongly from a year earlier, the company said Thursday. The Anglo-Dutch group posted a net profit of US$5.7 billion in the first three months of the year, Shell said in a statement.

Agreement inked to boost downstream industry in Brunei

BANDAR SERI BEGAWAN (Borneo Bulletin/Asia News Network): Brunei Fertilizer Industries Sdn Bhd (BFI) signed a service agreement in a virtual ceremony with Muara Port Company Sdn Bhd (MPC) to undertake logistics, operations and port-handling services for the purpose of exporting granular urea for BFI.

All Singapore pump prices down after SPC’s two-week standoff

[SINGAPORE] All pump operators have adjusted their prices downwards since Esso and Shell reduced rates by around three Singapore cents last Friday. Caltex and Sinopec responded to that reduction last Saturday. Their 92 and 95-octane petrols are now S$1.95 and S$1.99 per litre before discount respectively, according to Fuel Kaki, a pump price tracker managed by […]

Amid Fuel Shortage Concerns, Myanmar Regime Plans to Reopen Old Yangon Oil Refinery

The Myanmar junta is pressing ahead with a plan to reopen a disused oil refinery in Yangon’s Thanlyin Township, which a state-owned Indian company has expressed an interest in taking over.

Amid oil price scare, minister says Malaysia not too dependent on crude revenue

KUALA LUMPUR, Nov 16 — Minister of Finance Lim Guan Eng insisted today that Putrajaya’s finances will not be affected if oil prices drop. This comes amid concerns over the commodity’s near-term prospects as uncertainties dog the global economic outlook for next year. Oil accounts for up to 14 per cent of next year’s Budget […]