Page 13 - AsianOil Week 31 2021

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available to suit different investors’ appetite was up 37% q-o-q led by the growth in the Yanshan Petrochemical’s
and capabilities. Having the right asset placed Vietnam LPG business.
in the hands of the right player unlocks its full Recovery in retail has been slowed down by monthly hydrogen output
potential, thus maximising returns for both the continued challenges in mobility with the
our upstream investors and PETRONAS as the new spikes in COVID cases, the slower-than- hits a new high
custodian of hydrocarbon resources in Malaysia. expected rollout of the nationwide vaccination
“We believe Jadestone’s experience and program, and the threat of new COVID variants. In July, Yanshan Petrochemical’s new
skills in extending asset life, combined with Station count in 2Q stood at 680. hydrogen energy plant produced 21 tons,
its focus on enhancing production and cost “Our 2Q performance shows that our a record high. Since the first vehicle was
optimisation, will improve margins whilst domestic growth is accelerating and we are delivered on December 16 last year, a total of
prolonging the economic life of offshore fields, solidifying our market positions as evidenced 52 tons of hydrogen produced by the device
contributing to the overall sustainability of the by the recent market share expansion. Despite has been delivered.
oil and gas production for the country.” challenges, we are able to continue to expand Yanshan Petrochemical’s new hydrogen
SapuraOMV and Jadestone had earlier our network via a capex-light model, win new energy plant has a designed capacity of 2,000
entered into a conditional Sale and Purchase B2B accounts, and keep our costs in line,” standard cubic meters per hour and adopts
Agreement (SPA) on 30 April 2021. The Phoenix Petroleum President Henry Albert R. a pressure swing adsorption (PSA) process,
conditions include, among others, the Fadullon said. which can meet the requirements of hydrogen
regulatory approval from PETRONAS which Phoenix Petroleum grew its market share used in fuel cell or electronics industries.
was granted on 15 July 2021. The acquisition in the 1Q21 to 7.8% from 7.1% in the 1Q21, During the 2022 Beijing Winter Olympics, it
was completed on 1 August 2021. based on latest report from the Department of will be used for hydrogen fuel cell vehicles.
In the pursuit of unlocking the full Energy. The same report showed Phoenix LPG Use hydrogen to provide protection. Since
potential of Malaysia’s hydrocarbon resources, expanding its market share from 6.9% to 7.2%. the beginning of this year, as the market’s
PETRONAS is currently hosting the Malaysia PHOENIX PETROLEUM, August 3, 2021 demand for hydrogen has grown, Yanshan
Bid Round (MBR) 2021 themed “Grow Your Petrochemical has further strengthened the
Energy Portfolio With Us”. MBR 2021 offers organization of production and increased
13 new opportunities in Malaysia’s prolific EAST ASIA market development efforts to ensure a
basins, accompanied by enhanced fiscal and continuous and stable supply of hydrogen to
non-fiscal terms in the PSC such as Enhanced Qingdao Refinery ‘s first meet market demand. (Pu Dongxing)
Profitability (EPT) for the shallow water SINOPEC, August 5, 2021
blocks, the Late Life Assets (LLA) and Small hydrogen for fuel cells
Field Assets (SFA), which are designed to JAPEX ends promotion of oil
match the risk and rewards of the investments Qingdao Refining & Chemical Co., Ltd.
with the type of assets available. delivered its first vehicle of 300 kg of sands project in Canada
PETRONAS, August 2, 2021 hydrogen for fuel cells. This is the first time
that Qingdao Refinery has realized the Japan Petroleum Exploration Co., Ltd.
Phoenix records all-time- industrialized production of hydrogen for (JAPEX) announced that its Board of
Directors has resolved today to end our
fuel cells, solving the problem of the source
high sales volume in Q2 of hydrogen for fuel cells in Qingdao, and promotion of the oil sands project in Canada
by Japan Canada Oil Sands Limited (JACOS),
will effectively promote the development of
2021 the hydrogen energy industry in Shandong and to transfer all shares of JACOS, holding its
Province and help build the “Oriental
100% shares through Canada Oil Sands Co.,
Phoenix Petroleum recorded in the second Hydrogen Island”. Ltd. (CANOS), a consolidated subsidiary, to
quarter of 2021 its all-time-high quarterly In order to meet the local hydrogen energy HE Acquisition Corporation (HAC).
volume, while maintaining prudence in OPEX development needs, Qingdao Refining & As a result of this matter, JAPEX expects
and CAPEX management, accelerating the Chemical has actively participated in the a change in the subsidiary, recognition of
Company’s growth with EBITDA up 73% development and project construction of extraordinary losses in the fiscal year ending
from the prior quarter to P1.07 billion. Shandong Province’s hydrogen energy since March 31, 2022, and voluntary return of
Revenues rose 38%, while OPEX per liter last year. The company initially supplied executive compensation.
was down by 17%. Net Income was up 9% to 430 kilograms of hydrogen per day, and The Project promotes the development and
P132 million. is expected to have an annual production production of oil sands in the Hangingstone
Overall volume grew 32% from the prior capacity of 2,250 tons by the end of the year leases in Alberta, Canada. JAPEX, through
quarter as the growth of the domestic business and 4,500 tons in 2023. JACOS, has contributed to establish
picks up pace. Domestic volume rose 27% Sinopec is the largest hydrogen producer and spread the technology of oil sands
q-o-q. Commercial, alongside other B2B in China. It has built 4 hydrogen purification development and production in Canada
segments, strengthened from the prior quarter plants in Yanshan Petrochemical, Guangzhou since the 1970s. At present, JACOS has been
as select industries such as manufacturing and Petrochemical, Hainan Refining and Chemical producing bitumen, an extra-heavy oil, of the
trading drive the momentum. and Gaoqiao Petrochemical, in 13 provinces, range of 20,000 barrels per day in the current
This was enabled by the Company’s autonomous regions and municipalities production area of the Hangingstone leases,
excellent execution across the board from including Guangdong, Zhejiang, Shanghai, which started production in 2017.
supply and marketing to support services. Guangxi, Guizhou and Hainan. Build 20 On the other hand, JAPEX formulated the
LPG likewise accelerated in 2Q on strong hydrogen refueling stations or oil-hydrogen medium-term business plan in 2018 with the
canister volume and as industrial LPG returns combined stations. recognition of the necessity to transform our
to growth. Meanwhile, the overseas business SINOPEC, August 5, 2021 business structure for the sustainable growth

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