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Crude oil prices edged lower on Monday after sharp gains during the previous session but were supported by expectations of shrinking supply and signs that China-US trade tensions could ease. International Brent crude oil futures on Monday were down 20 cents,…
SK Innovation, Korea’s largest oil refiner, said Thursday that its earnings sank 21 percent last year on lower oil prices and less demand for petrochemical goods. Net profit reached 1.69 trillion won last year, compared with a profit of 2.15 trillion won a…
Malaysian palm oil futures fell last week, after data from a cargo surveyor showed exports grew more slowly than expected in January. The benchmark palm oil contract for April delivery on Bursa Malaysia Derivatives Exchange dropped 0.2% to RM2,299 a tonne.…
Oil prices rose on Wednesday as concerns about supply disruptions following U.S. sanctions on Venezuela’s oil industry outweighed downward pressure from a darkening outlook for the global economy. U.S. West Texas Intermediate (WTI) crude futures were at…
Sime Darby Plantation Bhd (SDP) and Sarawak Land Consolidation and Rehabilitation Authority (Salcra) have signed a memorandum of understanding (MoU) to form a collaborative framework to establish, strengthen and encourage synergistic commercial cooperation…
Oil prices declined on Thursday amid lingering concerns over slowing global economic growth that may limit fuel demand and after a surprise build in U.S. crude inventories. International Brent crude oil futures were at $60.89 a barrel at 0352 GMT, down 25…
Gold prices rose on Thursday as the dollar declined due to concerns the prolonged U.S. government shutdown will limit economic growth at the same global growth is slowing as well. Spot gold was up 0.1 percent at $1,283.31 per ounce, as of 0326 GMT, while U.S.…
Malaysian state oil company Petroliam Nasional Bhd (Petronas) started trial runs at the crude distillation unit (CDU) for a joint-venture refinery with Saudi Aramco in Malaysia last week, two sources with knowledge of the matter said this week. The move marks…
The Nghi Son Refinery began commercial operation Sunday, and is expected to meet about 40 percent of domestic petroleum demand in 2019. Speaking at its inauguration, Prime Minister Nguyen Xuan Phuc emphasized the key role of the project. The refinery will…
Vietnam’s second-largest oil retailer, PV Oil, is seeking multiple buyers, instead of a single strategic investor, for a 44.72 percent stake. Although many investors expressed interest in becoming strategic partners with PetroVietnam Oil (PV Oil), including…
LNG Canada, the US$30 billion (RM125.7 billion) liquefied natural gas (LNG) export project, has bagged another client after project shareholder Petroliam Nasional Bhd (Petronas) signed an initial sales deal with trading house Vitol. Royal Dutch Shell decided…
Murphy Oil Corporation is in talks to sell its Malaysian oil and gas assets after an unsolicited bid that could fetch between US$2 billion to US$3 billion (RM8.4 billion to RM12.6 billion), people familiar with the matter said, in the latest energy merger and…
Vietnam’s total oil refining capacity will nearly quadruple by 2023 as two new refineries go on stream, market data provider Fitch Solutions reports. The Dung Quat refinery in the central province of Quang Ngai operated by the state-owned PetroVietnam’s…
Moody’s Investors Service has downgraded Petronas LNG Ltd’s (PLL) ratings outlook to “negative” from “stable”, following the same outlook revision for its parent company Petroliam Nasional Bhd’s (Petronas) yesterday. At the same time, the rating agency has…
Petroliam Nasional Bhd’s (Petronas) solid balance sheet, sizeable net cash position and ample liquidity provide ample buffer against the payment of one-off dividend to the government that could reach RM30 billion. According to S&P Global Ratings, the…
Tokyo Gas is interested in cooperating with Vietnam’s PetroVietnam Power Corp (PV Power) to develop a natural gas-fired power project in the Southeast Asian country. On Friday, PV Power’s parent said that Tokyo Gas wants to help secure long-term liquefied…
