Page 13 - AsianOil Week 28

AsianOil
NEWS IN BRIEF
AsianOil
ASIA-PACIFIC
S&P Global Platts, ICE extend LNG partnership
S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets, and Intercontinental Exchange, Inc. (ICE), a leading operator of global exchanges and clearing houses and provider of data
and listings services, extend their technology partnership to bring the Platts Editorial Window (eWindow)® communication tool to the LNG trading community. e partnership delivers a best-in-class solution for the fast growing LNG market that leverages the two rms’ market leading capabilities across commodity pricing and technology.
eWindow is an online data-entry and communications tool that allows market participants in the Platts Markets On
Close (MOC) price assessment process to communicate bids, o ers and transactions directly to Platts editors and the marketplace simultaneously. Its grid-like screen o ers
an easy, at-a-glance view and allows market participants to instantly respond to the bids and o ers submitted.
eWindow is already widely adopted
to power the MOC process for key oil benchmarks and now will be accessible
for Platts LNG price assessments, such as Platts JKMTM, the benchmark price for LNG delivered into Northeast Asia.
S&P GLOBAL PLATTS, July 10, 2019
SOUTH ASIA
Sinopec sets up Sri Lankan fuel oil unit
Sinopec Corp. has set up Fuel Oil Sri Lanka, which is registered in the port of Hambantota.
e Chinese re ner stressed the port’s strategic location on a key shipping route between the Suez Canal and the Malacca Strait and said the marine fuel market had signi cant potential.
Report: Hindustan Oil to invest in offshore block
Hindustan Oil Exploration and Adbhoot Estates reportedly plan to invest around IDR3bn on development drilling and starting commercial production at block B-80 in
the o shore Mumbai Basin, Cogencis has reported.
Drilling is likely to span two years,
with Hindustan Oil expecting to receive government clearances to start work within the next couple of months. e company aims to start production in 2020-21.
e company has said that the rst phase of production will deliver 5,000 bpd of crude and 15mn cubic feet per day of gas. Hindustan Oil operates the block with 50% interest, while Adbhoot Estates holds the remaining stake.
SOUTHEAST ASIA
Pertamina ready to fulfill
avtur supply in North
Sumatra
Pertamina has prepared more than 10 million litres of avtur to meet increased demand for ights from Kualanamu International Airport, North Sumatra during the Hajj annual pilgrimage.
is is up from more than 3 million litres of avtur supplied in 2018.
“Pertamina is ready to meet the increase
in avtur demand during the Hajj season, regardless of its needs. e signi cant increase in North Sumatra is due to the transit route
of the pilgrimage from Banjarmasin and Solo through Kualanamu Airport,” said unit manager communication Roby Hervindo.
Hajj ights through Kualanamu Airport, Roby continued, are divided into two phases. e rst phase, which is the departure leg, takes place from 7 July to 3 August 2019. In this phase, more than 3.5 million litres of avtur have been prepared.
e second phase, which is the return
half, is estimated to occur from August 17 to September 13, 2019. For this phase, nearly 6.5 million litres of avtur have been prepared.
EAST ASIA
CNOOC, Sinopec sign
co-operation framework
agreement
CNOOC Limited announced today that CNOOC China Limited, its subsidiary, has signed a Cooperation Framework Agreement with Sinopec Corp. regarding the sea areas of Bohai, Beibu Gulf and South Yellow Sea, as well as North Jiangsu Basin.
e Cooperation Framework Agreement will be implemented in three years through joint study, joint exploration and facility sharing in multiple sea areas. Under the framework, both parties have signed three joint study agreements, namely, “Joint Study Agreement
on Bohai Basin”, “Joint Study Agreement on North Jiangsu Basin and South Yellow Sea Basin” and “Joint Study Agreement on Beibu Gulf Basin.” Both parties will share data and carry out innovative joint studies in the Yellow River Mouth Sag, the Qingdong Sag and the eastern part of Bodong Sag in the Bohai Basin, as well as southwestern Weizhou and Xuwen
Week 28 17•July•2019
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