Thailand

Oil & Gas Exploration

Chandra Asri purchase of Shell Singapore refinery brings scale, threat

While Chandra Asra's offer to purchase Shell's Singapore refinery will see it join the ranks of Southeast Asia's biggest petrochemicals players, it is taking on the danger of running an aging facility in an extremely competitive sector. In taking control of Shell's Bukom facility, which dates to 1961, Indonesia's Chandra Asri Pacific will obtain a possession that is less efficient than more modern plants but which gives it a second naphtha cracker, broadens its item portfolio, and renders unnecessary plans to develop a greenfield complex in its home country, analysts and market experts said. Owning a refinery for the very...

Oil Refineries

CORRECTED-Shell's Singapore refinery sale and its market significance

Oil huge Shell said on Wednesday that it has consented to sell its Bukom refinery in Singapore among the world's largest oil refining and trading centres to a joint endeavor of Indonesian chemicals firm PT Chandra Asri and global trading home Glencore, culminating a. process that started last year. Here are the key information and what's next: WHY IS SHELL SELLING ITS SINGAPORE CROWN GEM REFINERY? The sale of the complex, which opened in 1961, becomes part of. CEO Wael Sawan's strategy to reduce the company's carbon footprint. and to concentrate on its most lucrative businesses. In 2015, Shell said...

Energy Markets

Asia area LNG costs flat as ample inventories weigh

Asian spot liquefied gas ( LNG) was flat this week to trend at a near threeyear low as high stocks kept costs capped, though the depression in prices has brought in some spot need. The typical LNG rate for April shipment into north-east Asia remained at $8.30 per million British thermal systems (mmBtu), its weakest level since mid-April 2021. There are South Asian, Southeast Asian, and Chinese buyers in the area market, however their area purchases are not anticipated to put in substantial upward pressure on rates, stated Siamak Adibi, director for gas and LNG supply analytics at consultancy FGE....

Oil & Gas Refining

Chandra Asri purchase of Shell Singapore refinery brings scale, threat

While Chandra Asra's offer to buy Shell's Singapore refinery will see it join the ranks of Southeast Asia's largest petrochemicals players, it is handling the danger of running an aging facility in an extremely competitive sector. In taking control of Shell's Bukom facility, which dates to 1961, Indonesia's Chandra Asri Pacific will get a property that is less effective than more modern-day plants however which gives it a second naphtha cracker, broadens its product portfolio, and renders unnecessary strategies to develop a greenfield complex in its home country, experts and industry insiders stated. Owning a refinery for the first time...

Fossil Fuels

China to show off homegrown airliner at Singapore air show amid supply crunch

Singapore will play host to Asia's biggest air show next week for the very first time since completion of COVID border limitations, with regional travel rebounding and the military side of the show bristling with anxious arms and protective systems buyers. An anticipated full return of civil demand in Asia is being checked by an industry-wide supply crunch and macroeconomic headwinds, nevertheless - particularly worldwide's second-largest aviation market, China - while geopolitical tensions have actually put weapons in the spotlight. Supply chain problems are restricting the ability of many airlines to upgrade their fleets and service their airplane, said Association...

Fossil Fuels

Asian spot LNG prices inch up on emerging Chinese demand

Asian area melted natural gas (LNG) costs inched up this week as temperature levels listed below seasonal typical levels in China pushed buyers back into the market, especially as costs had actually just recently fallen below that of some oillinked agreements. The typical LNG price for April delivery into north-east Asia rose to $8.60 per million British thermal units ( mmBtu), a level last seen in late April 2021, from $8.30 the previous week, industry sources approximated. This week, we've seen Chinese LNG imports being supported by cold weather condition, specifically in the southern areas, stated Ryhana Rasidi, LNG expert...

Fossil Fuels

United States LNG exports fall in February on failure and less calendar days

A monthlong closure at Freeport LNG plant in Texas and less days in the month pressed February U.S. liquefied gas exports 7% lower than in January, initial date from financial firm LSEG showed on Friday. The drop followed record deliveries in 2015 that propelled the U.S. to the world's largest exporter, above Qatar and Australia, a rank it is expected to keep this year. U.S. exports of the superchilled gas fell to 7.73 million metric heaps (MT) in February, down from 8.3 MT in January and a. record 8.6 MT delivered in December. The February decrease resulted mainly from the...