08282016Sun
Last update: Sun, 28 Aug 2016 11pm

Asia

Markets - Energy - Asia

VTTI says it resumes operations at Malaysia terminal SINGAPORE: VTTI, the storage unit of world's largest oil trader Vitol, said late on Friday it has resumed operations at its Malaysia terminal ATT Tanjung Bin (ATB). "The suspension has been lifted. ATB will resume its operations as normal, with immediate effect," a company spokeswoman said in an e-mail.The terminal suspended operations earlier on Friday after receiving a notice from the authorities following an oil spill.ATB located at Tanjong Pelepas in Johor has a total storage capacity of 1.155 million cubic metres. It handles gasoline, jet fuel, gasoil, fuel oil and biofuels.Copyright Reuters, 2016 ...

Markets - Energy - Asia

Vietnam's Jan-Aug crude oil exports fall 25.7pc y/y HANOI: Vietnam's crude oil exports in the first eight months of 2016 fell 25.7 percent from a year ago to an estimated 4.65 million tonnes, or 140,000 barrels per day (bpd), the government said on Friday.Crude oil export revenues in the January-August period plunged 46.2 percent from the same period last year to $1.47 billion, the government's General Statistics Office said in its monthly report.Oil product imports jumped 22.9 percent in the same period to ...

Markets - Energy - Asia

Oil prices extend losses as dealers eye output talks SINGAPORE: Oil prices edged down again in Asian trade Thursday, a day after suffering hefty losses in response to data showing a surprise jump in US stockpiles, while hopes for a deal to limit output were dealt a blow.The US energy department said Wednesday that inventories soared 2.5 million barrels last week, confounding forecasts for a fall and fanning worries about a global supply glut.Both main contracts plunged on the news, with West Texas Intermediate ...

Markets - Energy - Asia

Oil prices down in Asia, Brent stays below $50 SINGAPORE: Oil fell in Asia on Wednesday after industry data showing an increase in US crude stocks added to oversupply worries and traders took advantage of a recent rally to book profits.Prices had closed higher Tuesday on news that Iran was willing to join calls by OPEC and Russia for production curbs after scuttling previous efforts to reach a deal in April.But the gains were reversed in Asian trade after data from the American Petroleum ...

Markets - Energy - Asia

Asia Naphtha/Gasoline-Gasoline nears 8-week high, China exports ease SINGAPORE: Asia's naphtha crack edged up 55 cents to reach a two-session high of $23.43 a tonne but the crack value remained negative as high supplies dragged.But some traders were hoping that with some crackers returning from maintenance this month and next, demand for feedstock naphtha could improve.However, South Korea's SK Energy and Japan's Idemitsu will start their cracker maintenance next month. Taiwan's CPC will also shut a cracker for maintenance in the fourth quarter.In ...

Markets - Energy - Asia

South Korea's KNOC says drops oil field project in Iraq's Sangaw South SEOUL: State-owned Korea National Oil Corp (KNOC) has decided to drop out of Iraq's Sangaw South oil field project because of uneconomic exploration results, a KNOC spokesman said on Monday. A Korean consortium headed by KNOC holds 60 percent of Sangaw South in the Kurdish region of Iraq, with half of that owned by KNOC. The state-run oil company has invested a total of about $204 million on exploration and acquisition of the stake since ...

Markets - Energy - Asia

Asia Distillates-Jet fuel discount deepest in nearly 11 months SINGAPORE: Asia's jet fuel discount to Singapore quotes widened by 3 cents to $0.95 cents a barrel on Monday, the deepest discount in nearly 11 months as high supplies weighed on prices.The discount for Asia's benchmark 500ppm gasoil, meanwhile, widened by 4 cents to reach a two-session low of 15 cents.Supplies remained high as China continued to pour out fuel on Asian markets. China exported 1.53 million tonnes of diesel in July, surpassing the previous ...