AsianOil - Asia Oil & Gas
NRG: Countervailing forces
Oil prices and energy demand are under pressure on both sides from storms, COVID-19 outbreaks and climate concerns.
Vietnamese LNG projects move forward
The Vietnamese city of Haiphong has approved two LNG-to-power projects that are estimated to cost a combined $7bn.
China brings back coal switching
China has returned to its strategy of switching out coal for natural gas, confident in its ability to meet the surge in winter demand the transition will bring.
Ampol mulls Australian refinery closure
Australian refiner and fuel retailer Ampol has warned that it may have to shutter its 109,000 barrel per day Lytton refinery in Queensland after the facility’s losses in the first nine months blew out to AUD141mn ($100.6mn).
China’s downstream expansion steamrolls on
China is reportedly building four refineries that will add 1.4mn barrels per day of processing capacity, enough to cause some serious concerns for the regional downstream.
Petron threatens to close last Philippines refinery over “unfair” taxation
The Philippines could be about to lose its last refinery after Petron warned that it was weighing up whether to close its 180,000 barrel per day facility in Bataan.
India plans gas pricing reforms
The Indian government has unveiled plans to allow developers of new natural gas fields to sell their production on e-bidding platforms, in a bid to move toward market-determined pricing.
MedcoEnergi posts $96mn first-half loss
Indonesian oil and gas developer MedcoEnergi may have posted a first-half net loss of $96mn, but the company remains upbeat about the future and has said it will continue with its upstream investments.
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