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The Ministry of Trade has decided to postpone for six months the application of rules saying coal and crude palm oil export shipments should use Indonesian insurers, the country’s leading coal industry association said. The decision would be the second time…
Shipbuilding firm TAS Offshore Bhd swung to the red registering a net loss of RM1.56 million for the second quarter ended November 30, 2017 against a net profit of RM489,000 in the previous corresponding period, due to unrealised forex losses as a result of…
PTT, the national oil and gas conglomerate, plans to double profit margin from fuel retailing business to 30% of total sales by 2022, says Auttapol Rerkpiboon, chief of operations for downstream petroleum business. To achieve the goal, the company has set…
Vietnam hopes to raise a total of more than $570 million by selling stakes in an oil refinery, an oil distribution firm and a power company, the government website said on Saturday. The country has accelerated its privatization program in recent weeks, partly…
The “Amazon effect” has disrupted the entire retail industry by conditioning consumers to expect personalized, customer-centric service. As ecommerce gains market share, U.S. retailers are looking abroad for growth. Nordstrom, for instance, recently expanded…
Petron, the country’s biggest oil refiner and retailer, has partnered with two foreign firms to start building a new oil refinery worth $15 million to $20 billion by early 2018. “This is the biggest investment in the Philippine history so far. Have you seen a…
State-owned oil and gas company PT Pertamina is seeking to acquire more oil and gas blocks in the country and abroad to meet its production target set by the government. “Operations abroad are expected to contribute 33 percent to the companys target of…
South Korean motorists pay much higher oil taxes than their counterparts in the United States and Japan, a report said Monday, sparking calls for the government to lower them. According to the report by online crude price provider Opinet, gasoline prices in…
Greenpeace International launched a new report on Tuesday, January 17, 2017, accusing British HSBC of supporting deforestation. The report stated that British HSBC provided financial services to palm oil companies that are causing rainforest destruction and…
Indonesias export of crude palm oil (CPO) and its derivatives fell by nearly 2 percent to 25.7 million tons in 2016 from 26.2 million tons in 2015 from after-effects of the El Nino weather phenomenon. “At the end of 2015, oil palm fruit production fell due to…
Indonesia saw the exports of its palm oil products, which include crude palm oil (CPO), biodiesel and oleochemical, increase by 34 percent month-on-month to 2.45 million tons in October, thanks to rising demand from major export destinations. In September,…
The non-ceasing political disturbance and reigning uncertainty is dominating every aspect of life in Thailand since the King Bhumibol Adulyadej’s death on October 13. The Crown Prince Maha Vajiralongkorn is supposed to appear for an audition as a heir to the…
PT Pertamina reported US$1.83 billion (Rp23.8 trillion) in net profit in the first half of the year, or an increase of 221 percent from the same period last year. Chief Executive of the state-owned energy company Dwi Soetjipto attributed the increase in…
Indonesia’s state-owned Pertamina will sign a memorandum of understanding with the National Iranian Oil Co. next month to develop oil and gas blocks in Iran. Under the initial agreement, Pertamina will be allowed access to data on four Iranian oil blocks, a…
Foreign investors have shown strong interest in the downstream oil and gas business in Indonesia. A leading Hong Kong-based company recently announced its interest in investing in the filling station business in Southeast Asia’s largest economy. The company’s…
State-owned oil and gas company Pertamina has lowered the prices of Pertamax gasoline by Rp200-Rp300 per liter effective as of 00:00 on Sunday, 2016. Corporate Communication Vice President of Pertamina Wianda Pusponegoro said in written statement here on…
