05282016Sat
Last update: Sat, 28 May 2016 03am

Asia

Markets - Energy - Asia

Indonesia to sign oil, LPG import deal with Iran JAKARTA: Indonesia expects to sign an initial deal on Sunday with Iran for the purchase of crude oil and liquefied petroleum gas (LPG), an official at Indonesia's state energy company, Pertamina, said on Friday, providing no further details. Indonesia's energy minister Sudirman Said is heading to Iran on Sunday, a ministry spokesman, Sujatmiko, said separately.The energy minister is also expected to join the OPEC meeting in Vienna on June 2.Copyright Reuters, 2016 ...

Markets - Energy - Asia

Vietnam's estimated May crude oil output down 9.2pc HANOI: Vietnam's crude oil output in May is estimated at 1.28 million tonnes (303,000 barrels per day), down 9.2 percent from a year ago, the government said on Friday.Actual output in April was revised up to 1.3 million tonnes from an initial estimate of 1.2 million tonnes, the General Statistics Office also said in its monthly report. The actual production was down 3.7 percent from April last year.Vietnam, Asia's third-largest holder of crude oil reserves ...

Markets - Energy - Asia

India's ONGC sees higher output this year after profit beat NEW DELHI/MUMBAI: India's Oil and Natural Gas Corp Ltd (ONGC) said on Friday it expects output to rise this financial year as it invests billions of dollars in ramping up production from its ageing fields. India's biggest exploration company is targeting 300 billion rupees ($4.5 billion) of capital expenditure in the year to March 2017, after spending a similar amount in its previous financial year, Chairman D.K. Sarraf said. The state-run company reported a 12 ...

Markets - Energy - Asia

Japan's Jera to sell up to 1.5mn tonne LNG to EDF Trading TOKYO: Japan's Jera Co, a joint venture of Tokyo Electric Power and Chubu Electric Power , said on Thursday it signed a contract to sell up to 1.5 million tonnes of liquefied natural gas (LNG) to London-based EDF Trading Ltd, a wholly-owned subsidiary of French power utility EDF. Jera said prices would be linked to European gas prices and shipment volumes to Europe during the contract period between June 2018 and December 2020 and adjusted ...

Markets - Energy - Asia

Asia-Pacific Crude-Prices hold steady; traders eye tenders SINGAPORE: Asia-Pacific crude market held steady on Wednesday as traders looked ahead to tenders from Vietnam and Malaysia for further price direction.PV Oil and Petronas will close several tenders on Thursday.PV Oil offered two 300,000-barrel Bach Ho crude cargoes loading July 6-12 and 20-26. Bids will remain valid till June 2.Petronas offered 350,000 barrels of Cakerawala condensate loading on July 19-28 and 250,000 barrels of Muda condensate for July 20-26 in separate tenders.Regional crude cargoes ...

Markets - Energy - Asia

Asia Fuel Oil-Contango structure widens as abundant supplies weigh SINGAPORE: Front-month time spreads of Asian 380cst fuel oil widened their contango structure on Wednesday as participants factored in Singapore's brimming inventories of the fuel, traders said."There's a serious ullage issue," said one Singapore-based trader. "We've been hearing most of onshore inventories for fuel oil are still pretty much full."Ullage is the unfilled space in tanks and floaters, or vessels that have been chartered for the purpose of storing oil at sea due to a ...

Markets - Energy - Asia

China's end-April commercial crude stocks fall, gasoline surges BEIJING: China's commercial crude oil stocks at the end of April fell 3.7 percent from the previous month and refined fuel stocks eased 2.45 percent on month, the official Xinhua News Agency reported on Tuesday.Diesel recorded a steep fall of 10.6 percent over the previous month, due to a record amount of exports and a rebound in consumptions from the farming and construction sectors, reported China Oil, Gas & Petrochemicals (OGP), a newsletter run by ...