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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 […]

Ampelmann and Brunei Shell Petroleum extend collaboration in Asia Pacific

Ampelmann, the Dutch offshore access provider, has signed a new, three-year contract with Brunei Shell Petroleum (BSP) for work in Asia Pacific. The company will provide two of its latest version L-type systems to enable daily crew change operations in the region. “We are excited to continue our collaboration with BSP and are thankful for […]

Analysis: COVID-19 delays Cambodia’s LNG ambitions after initial imports from China

Cambodia broke new ground in January with its first LNG imports in ISO tanks from China, but its plans to ramp up volumes, build a floating regasification terminal and establish a gas pipeline and trucking network have been temporarily delayed because of COVID-19.

Analysis: LNG to surpass piped gas in Singapore’s future energy mix

Singapore — Singapore is set to shift toward LNG to meet the bulk of its gas demand in the coming years as piped natural gas supply contracts are discontinued and LNG import capacity is expanded, with a new floating regasification plant planned in the next decade. The commodity trading hub’s increasing reliance on LNG underscores […]

Analysis: Low gas prices not enough for Asia to move away from coal

Singapore — Record low global gas prices may have hit the appetite for coal in the Americas and in Europe, but it may do little to snatch away the fuel’s strong presence in Asia, thanks to the region’s limited scope to switch between fuels.

Analysis: Malaysia’s Petronas gears up for new investment cycle

RAPID refinery completion will free MYR15-20 billion/year capex Oil price rebound allows Petronas to start new investment cycle Petronas spends MYR30 billion/year just to maintain reserves. Singapore — Malaysia’s national oil company Petronas is poised for its next wave of investments, in line with the recent final investment decision on the LNG Canada project, as […]