Indonesia's state oil company Pertamina's new unit, Pertamina International Shipping (PIS), is looking to spend $4 billion in the next seven years to refurbish its fleet of vessels and upgrade terminals, a top official said on Friday.The new unit plans to replace 23 vessels and expand its fleet…
A Singapore court has approved a freeze on up to $3.5 billion of assets of the family behind collapsed Hin Leong Trading Pte Ltd, boosting the prospect of debt recovery from the former oil trading empire that counts some of the world's biggest banks among its creditors…
Malaysia's state oil firm Petroliam Nasional Bhd is expanding its global fleet of liquefied natural gas (LNG) carriers with three newbuild 174,000 cubic meter capacity vessels, the company said on Thursday.The company, best known as Petronas…
Indonesia will stop both liquefied petroleum gas (LPG) and fuel imports by 2030 and plans big changes to its energy infrastructure to meet that target, a top energy official said on Thursday.President Joko Widodo has tasked the National Energy Council…
China’s imports of light cycle oil (LCO) are set to fall in coming months as authorities crack down on its illicit trading and sales in South China, dealing a blow to the $10 billion market and to refiners in top supplier South Korea.China’s…
Three ships carrying ethanol were heading to China from the U.S. Gulf Coast, three trade sources told Reuters on Monday, a sign that ethanol exports from the United States to the country are increasing drastically.The shipments may surpass the total amount of U…
Venezuela’s oil exports rose in February to over 700,000 barrels per day (bpd), their highest level in 10 months, pushed by more sales of fuel oil cargoes to new clients in Asian markets, according to Refinitiv Eikon’s tanker tracking data and documents…
Japan's Kawasaki Heavy Industries is aiming to replicate its success as a major liquefied natural gas (LNG) tanker producer with hydrogen, a key element that may help decarbonize industries and aid the global energy transition.A A$500 million ($385 million) pilot project…
Indonesia said its coast guard seized the Iranian-flagged MT Horse and the Panamanian-flagged MT Freya vessels over suspected illegal oil transfer in the country's waters on Sunday.Coast guard spokesman Wisnu Pramandita said the tankers, seized in waters off Kalimantan province…
The cost of shipping liquefied natural gas (LNG) from the United States to Asia hit a record high on Tuesday as appetite for the fuel from buyers there and delays through the Panama Canal reduced the amount of ships for hire.Freezing temperatures…
The Sri Lankan navy has towed a fire-stricken supertanker further out to sea to keep it off the coast of the Indian Ocean island after the wind picked up strength and changed direction, a spokesman said on Thursday.The tanker, loaded with 2 million barrels oil…
The Sri Lankan navy said on Wednesday it had extinguished another fire on a stricken supertanker loaded with 2 million barrels of oil and is towing it to deeper water.The navy's disaster management team put out the fire that reignited on Monday on the MT New Diamond…
There is no real risk of a spill from a fully loaded supertanker that caught fire off the east coast of Sri Lanka, a senior official in the Indian Ocean nation's navy said on Friday.The fire that broke out in the engine room of the New Diamond…
Worsening diplomatic relations between the United States and China are putting a spotlight on their economic inter-dependency in the context of global supply chains for both technology and energy.Top policymakers in the United States and some of its closest allies…
The family that owns beleaguered Singaporean oil trader Hin Leong Trading (HLT) is seeking to block creditor OCBC's request to appoint overseers for the family's Xihe Holdings and four other subsidiaries to recoup its debt.Oversea Chinese Banking…
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