Eneos Corporation,  formerly known as JXTG,  announced that it has agreed to continue collaborating with PetroChina International (Japan) Co., Ltd. (PCJP), a wholly owned subsidiary of China’s PetroChina International Co., Ltd. Their joint venture called Osaka International Refining Company, Limited (OIREC), which is 51% owned by Eneos and the rest by PetroChina, will take over […]

A major consolidation of China’s oil and gas pipeline assets and storage facilities is underway, as PetroChina Company Limited announced yesterday that it has entered into a transaction with PipeChina for the sale of certain assets valued at approximately CNY268.7 billion (USD38 billion). These assets include major oil and gas pipelines, certain gas storage facilities, […]

Singapore’s Hin Leong Trading Pte Ltd is reportedly in talks with China Petroleum & Chemical Corporation (Sinopec), Asia’s largest oil refiner, to sell its stake in Universal Terminal, an oil storage terminal located in Singapore, according to a Reuters report. Hin Leong Trading last Friday filed for bankruptcy protection under section 211(B) of the Singapore […]

Shell Australia announced a final investment decision to develop the first phase of Arrow Energy’s Surat Basin coal-seam gas project in Queensland, Australia, despite the current downturn in the energy sector. Construction of the project will begin in 2020, with first gas sales expected in 2021. More than 600 wells will be drilled in the […]

Jurong Port and German tank operator Oiltanking opened the new Jurong Port Tank Terminals (JPTT) in Singapore on 29 July. The terminal which occupies 12 hectares has four deep-water berths, can handle vessels up to 180,000 tonnes, and can store up to 252,000 cubic meters of low-sulphur petroleum products in the first phase. Singapore’s Senior Minister […]

SK Lubricants Co., South Korea’s leading lubricants producer, has signed a deal to supply lubricating base oil to China’s largest oil and gas producer Yonhap News Agency reported. SK Lubricants, an affiliate of South Korea’s top refiner, SK Innovation Co., said it will supply its Group III base oil products to PetroChina, but did not […]

Chinese oil giant PetroChina has launched its first service station in Myanmar, through a joint venture between PetroChina International’s Singapore unit Singapore Petroleum Co. (SPC) and Shwe Taung Energy Co., a subsidiary of Shwe Taung Group. The joint venture agreement covers the fuel retail segment only, with SPC taking a 35% stake in the JV. Local […]

Abu Dhabi National Oil Company (ADNOC) and China National Petroleum Corporation (CNPC) signed a wide-ranging strategic cooperation framework agreement that extends and deepens the strategic energy partnership between the United Arab Emirates and China. The agreement outlines opportunities for possible future collaboration across ADNOC’s upstream and downstream value chains and support for China’s growing energy […]

PetroChina’s oil and gas trading unit, Chinaoil, is planning a major global expansion by buying existing service stations and fuel storage facilities in West Africa, Brazil and Pakistan, according to Reuters. Chinaoil markets PetroChina’s global production. The new investments are to start as early as next year, Reuters said, and would follow global oil trader […]

Sinopec announced that its board has approved a plan to separately list its fuel marketing unit, Sinopec Marketing, by selling a 10% stake to investors. The South China Morning Post reported that the listing will most likely take place on the Hong Kong Stock Exchange. The chairman of Sinopec Marketing, Zhang Haichao, said the announcement […]