Singapore

A term sheet showed that a unit of Sinopec had sold 8.5 millions Hong -Kong listed shares of CATL on Wednesday for $770 million. The company was able to cash in on the soaring stock performance of the Chinese electric vehicle -battery manufacturer. The term sheet examined by revealed that Sinopec (Hong Kong), in an accelerated stockbuild, sold shares at HK$708 (US$90.41), a discount of approximately 3.8% from the closing price on Tuesday for Contemporary Amperex Technology Co Ltd (CATL). According to the term sheet, Sinopec also agreed to a 90 day lock-up period on its remaining CATL stake. According...

The Australian Prime Minister Anthony Albanese met with his counterpart Lawrence Wong in Singapore on Friday. They vowed to work together more closely in order to maintain energy security in the face disruptions brought about by the Middle East conflict. Singapore, the oil trading hub in Asia, is the world's largest petrol supplier and also a major diesel and jet fuel supplier to Australia. In Australia, the shortage of diesel has impacted the mining and farming sectors. The leaders agreed to "maximize efforts" to increase their energy security, including ensuring the flow of diesel and LNG. In a joint press...

Trafigura has not ceased its contracts with Bolivia's oil and gas state company YPFB, a spokesperson for the company said on Thursday. The company was rejecting a claim made by Bolivian Energy Minister Mauricio Medinaceli. Medinaceli announced on Tuesday that Bolivia will suspend its gasoline contracts Trafigura, and with rival trading house Vitol, until the investigation into the alleged smuggling of poor-quality fuel from Chile is completed. Later, on Thursday, YPFB confirmed its main supply contracts are still in effect, ensuring a?continuity of supply. The state-owned company has announced that it has signed an addition to its existing contract with...

PetroChina supplied a rare shipment of nearly?2million barrels of crude from its storage facility in China to the refinery it owns half of, located in Singapore. The?firm is attempting to fill'shortfalls caused by the iran war. According to tanker trackers Vortexa & Kpler the tanker New Merit delivered 1.8 million barrels in crude oil to Dalian, northeast China, in mid-March. It then transported it to Singapore Jurong Island, where PetroChina & U.S. giant Chevron run a joint venture refinery. Sources declined to name themselves as they were not authorized to speak to the media. China exports crude oil very rarely....

Shipping data shows that India's diesel exports into Southeast Asia soared in March to the highest level in over seven years. This was due to traders adjusting supply to cover their short positions, and refiners taking advantage of higher profits in Asia as a result of the U.S./Israeli war against Iran. The increase in exports may boost the spot sales margins of Indian refiners, who have bought large volumes Russian crude oil to replace Middle East supplies disrupted by war. According to Kpler, three trade sources and data from the analytics firm, Kpler, around 1 million metric tonnes (7.45 millions...

Trafigura's Nyrstar unit has announced that it shipped its first shipment of commercial-grade Antimony from the?Port Pirie Metals Processing Facility in South Australia on Monday. This is a "milestone" for the country as they strive to improve their domestic supply chains. In a statement, the company announced that the first shipment will be delivered to a local manufacturer. The company expects to export future cargoes?to clients in Europe, Asia and America. Antimony is used in semiconductors, automotive components, and defence applications. Canberra has designated it as a 'priority critical mineral' and part of the U.S. Australia critical minerals framework to...

Trafigura, a global energy trading company, has a plan to restore African woodlands. It has selected its first four projects for carbon removal and plans to invest at least $1 billion in each project over. The projects are part of the Miombo Restoration Alliance - a public-private partnership with 11 governments in central and southern Africa. They cover over 675,000 acres and aim to restore forests that will remove more than 50 million tons climate-damaging gasses. The alliance, which will be launched at New York Climate week?2024, aims to restore Miombo Woodlands, an eco-system that supports more than 300 million...

Trafigura, a trading house, has sold its first shipment of Venezuelan crude oil, as part of an agreement between Caracas, Venezuela, and Washington for the supply of 50 million barrels of oil. The Spanish refiner Repsol is expected to receive a shipment of this quantity. Two sources stated that the cargo should be delivered to Repsol by mid-February. Trafigura and Repsol have declined to comment. The agreement would be one of the first to sell Venezuelan oil in Europe since the United States captured Venezuela's leader at the beginning of this month, and struck an agreement with Caracas for the...

Trafigura, a trading house, sold a 'cargo' of Venezuelan oil, to a Spanish refiner. Vitol, a rival, was preparing to export Venezuelan fuel as shipments from the OPEC nation accelerated, according to oil industry sources. U.S. officials reported that Vitol, Trafigura and other companies obtained their first U.S. licensing to load and export Venezuelan crude oil earlier this month. Initial sales reached $500 million or approximately 11 million barrels last week, they said. U.S. officials said that other companies, such as U.S. giant Chevron, were waiting for Washington's exemptions from U.S. sanctions against Venezuela before expanding exports. According to industry...

Commodities trading houses Trafigura &?Vitol agreed to provide marketing and logistical services for the sale of Venezuelan oil, at the request of?U.S. A Trafigura spokesperson confirmed this via email. First reported on Thursday, citing people familiar with the discussions, that both companies were in negotiations with the U.S. Government for such deals. They were in competition with U.S. producers of oil and other commodities traders for lucrative deals to export Venezuelan oil. U.S. officials have said that they want to control Venezuelan Oil Sales Indefinitely After the U.S. captured South American country's president Nicolas Maduro Saturday. Richard Holtum, the Chief...

Ampol, Australia's largest fuel retailer, recorded a lower third-quarter sales volume due to softer performance in its domestic convenience retailing business as a result of challenging weather conditions during August. The company's shares fell by as much as 3,1% Thursday, their lowest intraday performance since June. Stocks fell to their lowest level since October 23, 2009. The Australian convenience retail segment performed poorly compared to the previous year when it had enjoyed favorable market conditions due to the decline in fuel input costs. In August, New South Wales, Queensland, and other states experienced prolonged bad weather, which negatively affected sales....

Mark Carney, Canada's prime minister, will make his first official trip to Asia this Friday. He is hoping to strengthen trade and security links at a moment when North America struggles to reduce its dependence on the U.S. Canadian officials have said that Carney's trip could include a meeting between him and Chinese President Xi Jinping in an effort to restore a relationship previously strained by a trade war. Donald Trump, President of the United States Termination of trade talks Canada responded to a political ad in Ontario that featured Ronald Reagan, the Republican icon who said tariffs caused economic...

The global oil market has been predicting that the Strait of Hormuz would be closed for a short time, and the disruption of crude and refined product supply will also be brief. This expectation is reflected in the price of crude oil futures. Although they have increased sharply since February 28, the prices are still far below the highs achieved in the aftermath of Russia's invasion of Ukraine in 2022. The paper crude market, in effect, has believed U.S. president Donald Trump's social media posts that have been made since the bombing began, that the?conflict?will be over soon and Iran...

The U.S./Israel war on Iran caused a disruption in crude and feedstock imports from the Middle East, forcing several Asian refineries and companies to declare force majeure and cut back production. Asian steam crackers have declared force majeure on petrochemical deliveries to customers, despite sourcing more than 60% of their feedstock for naphtha from the Middle East. Three operators said they were reducing run rates in order to carry over some of the feedstock they have into next month. This will allow them to keep their plants operating and avoid shutting down even if they don't get enough imports. Two...

LSEG data on Thursday showed that Singapore's light distillate stocks reached a'record high this week. This was due to a 'deep contango -structure of?gasoline price, which encouraged storing amid lower demand. In a contango-structure, the prices for immediate delivery are lower than those for future deliveries. Enterprise Singapore released data showing that Singapore's oil products onshore inventory, held by up to 14 major oil companies and oil storage firms, rose by 1.496 millions barrels during the week ending February 18. The contango in the gasoline market is so deep that everyone would like to "roll" (sell their current positions to...

Two sources said that a deal between Indian Oil Corp. and global trader Vitol, to form a joint venture for equal trading, has been delayed because of differences regarding certain clauses in the contract. Sources said that these?included the volume of IOC crude purchases that would come under joint venture control and the timing for an exit clause for a trader. IOC hoped to seal the deal with Vitol during the India Energy Week conference held last week. The country's largest refiner wanted the traders'?expertise and their global network in order to expand its presence on the international crude and...

Friday, the premium for high-sulfur fuel oil in Asia over the West reached its highest level in eight months as traders expect more Venezuelan crude oil and fuel oil to be shipped to the United States than to Asia in the coming months. LSEG data show that the East-West 380cst HSFO swap for the first month of 2026, a measure used to compare HSFO prices in Asia, Europe and America, has risen above $27 a barrel, a price last seen in May 2025. This value has nearly doubled since the beginning of 2026. It is more profitable for traders to...

Aster Chemicals & Energy, a Singaporean company, has declared force majeure for petrochemicals from its naphtha cracked on Bukom Island. This was revealed in a letter that sources who were directly involved with the matter saw on Thursday. The letter attributed force majeure to "unexpected events" at the ethylene cracker plant, which had been scheduled for maintenance since August 1. In the letter sent to customers, it was not stated which products were affected. The company didn't immediately respond to our request for a comment. It remains unclear how long the 1.1-million-ton-per-year (tpy) unit will be shut, though sources with...

Singapore's domestic non-oil exports dropped 3.5% from the same period a year ago, according to government data released on Tuesday. This was in contrast with analyst expectations, as shipments into the United States plummeted a month after Washington announced new tariffs. The drop was compared to a poll prediction of an 8.0% growth year-on-year, and came after a 12.4% increase in April. Electronics shipments rose slightly, but petrochemicals and non-monetary gold as well as specialised machinery dropped. Brian Lee, an economist at Maybank, said that a boost in exports caused by frontloading is cooling. This can be seen in the...

In April, Asia's imports for key refined fuels like gasoline and diesel dropped to their lowest level in four years. This was due to refinery maintenance as well as a weaker demand from the region that is the largest importer. According to commodity analysts Kpler, the total imports of light distillates and middle distillates in April were 166.37 millions barrels, down from March's 195.54 and the lowest since April 2020. The sharp fall in imports for April was due to a decline in shipments by key exporters of refined goods. Kpler reports that India, which is the top fuel exporter...

Trafigura’s top executive for Mongolia has been suspended pending an investigation into a fraud scheme worth billions of dollars at the Swiss trading firm. The executive, however, lent more than $500 million from Trafigura to a company owned by his aunt. Lex Oil is Trafigura’s main counterparty in Mongolia. According to three sources and a document, it belonged to Erdenetuul who is the aunt of Trafigura’s suspended local boss Jononbayar Erdenesuren. Trafigura announced last October it had suffered a loss of $1.1 billion after an internal investigation found that employees within its Mongolian petroleum product supply business had engaged in...

India's Bharat Petroleum Corp plans to invest $11 billion in southern Andhra Pradesh state for a new refinery and petrochemical project to fulfill increasing fuel need in the world's fastestgrowing major economy, its chairman said. India wishes to become a significant refining hub providing fuel to the global markets as Western business are cutting crude processing capacities in favour of energy shift. We feel there is a huge opportunity in refining sector. India's main energy need itself is likewise going to increase 3 to four times as its economy broadens, G. Krishnakumar informed Reuters in an interview. India aspires to...

Abu Dhabi National Oil Company has signed an arrangement to provide German energy company EnBW with 600,000 tons per year of liquefied natural gas from its Ruwais job for 15 years, ADNOC said on Monday. The sales and purchase agreement (MEDICAL SPA), which will see the United Arab Emirates state oil giant ship LNG beginning in 2028, settles a heads of arrangement reached in May. More than 8 million tons per year (mtpa) of Ruwais' overall 9.6 mtpa expected production has been committed through long-lasting arrangements, ADNOC stated. ADNOC sees LNG and gas, together with petrochemicals and renewables, as pillars...

Asian refiners' margins plunged to their least expensive seasonal levels given that 2020 this week as materials of diesel and gas rose after peak summer season travel demand ended, market officials and experts said on Friday. Consistent weak margins might prompt refiners to trim their output, curbing crude demand in Asia, the region that contributes most to international oil need development. Asia has actually been cutting runs considering that May, 400,000-500,000. barrels per day, including China, stated Amrita Sen, founder and. director of Research study at consultancy Energy Aspects. We've already consisted of 300,000 bpd of run cuts for Q4....