Page 13 - AsianOil Week 03

AsianOil
NEWS IN BRIEF
AsianOil
SOUTH ASIA
IOC signs fuel agreement with Cummins
IndianOil has signed an agreement with Cummins Technologies for bulk dispensing of IndianOil’s Diesel Exhaust Fluid (DEF), branded as IOC ClearBlue, in their advanced engines with SCR ( Selective Catalytic Reduction) systems. Subimal Mondal, Executive Director (Lubes), IndianOil, and Ms. Anjali Pandey, Vice President (Engine Business Unit and Component Business), Cummins Technologies India Private Ltd., signed the agreement at Mumbai today.
On the occasion, Subimal Mondal, Executive Director (Lubes), IndianOil, said, “With this collaboration, IOC CLEARBLUE is recommended for use in all diesel vehicles that have Cummins engines or any other engines with Cummins SCR technology. IOC CLEARBLUE adheres to the highest quality standards by meeting IOC 22241 and AdBlue certification”, he added
India will shift to BS-VI auto fuel emission norms from 1st April 2020. The automobile companies are effecting several technical changes in diesel vehicles such as provision for fitting diesel particulate filter, selective catalytic reduction (SCR) and exhaust gas recirculation (EGR). The SCR systems shall require DEF, an aqueous urea solution, for effective reduction in Nitrogen oxide emissions.
Bulk dispensing of DEF is in line with
global trends and offers better cost viability to truck and bus owners, as compared to packed products. The technical knowledge of Cummins combined with the bulk dispensing expertise of IndianOil shall help offer a world-class product to the customers across the country.
IOC, January 17, 2020
SOUTHEAST ASIA
Pertamina involves
domestic industries in
refinery development plan
Pertamina continues to accelerate the construction of refineries while optimizing the involvement of domestic industries in the Refinery Development Master Plan (RDMP) and Grass Root Refinery (GRR) projects through the establishment of the PT Pertamina (Persero) Refinery Development Acceleration Team (TP2KP).
In accordance with SOE Ministerial Decree No. 284 dated 22 November 2019, TP2KP consisted of 4 (four) SOEs, namely Pertamina as Team Leader and PT Barata Indonesia, PT Rekayasa Industri (PT Rekind) and PT Krakatau Steel.
After intensive coordination and communication, TP2KP once again held a joint meeting at the office of PT Barata Indonesia, Gresik, East Java (1/20), marking the start of the team’s work. Present at the event, Director General of Metal, Machine, Transportation
and Electronics Industry Ministry of Industry Harjanto, Head of BPPT Hammam Riza, Director of Pertamina Nicke Widyawati, President Director of PT Barata Indonesia Fajar Harry Sampurno, Managing Director of Rekind Yanuar Budinorman, Managing Director of Karakatau Steel Silmy Karim, and Pertamina Ignatius Tallulembang Director of Processing & Petrochemical Projects.
Pertamina President Director Nicke Widyawati explained, Pertamina’s RDMP
and GRR projects spread in several locations namely Dumai, Plaju, Cilacap, Balongan, Balikpapan, Tuban, and other areas in Eastern Indonesia had been running until 2027. Projects with investments of nearly Rp800 trillion is
a great opportunity for national industries to participate as much as possible so as to foster the independence of domestic manufacturing. PERTAMINA, January 20, 2020
Petronas, CIMB team up
on OGSE vendor financing
solution
Petronas and CIMB Bank and CIMB Islamic Bank have entered into a partnership under the Petronas Vendor Financing Programme to offer financing solutions to Small and Medium Enterprise (SME) vendors in the Oil and Gas Service Equipment (OGSE) sector to grow their business and reach their full potential.
The collaboration was marked by a Memorandum of Understanding (MoU) exchange ceremony held here today.
The Vendor Financing Programme is one
of the initiatives under the Lestari programme
– a solution and collaborative platform to empower SME vendors in the OGSE ecosystem; a strategic collaboration between the Ministry of Entrepreneur Development (MED) and Petronas. The Vendor Financing Programme was established in May 2018, to assist Malaysian OGSE vendors adversely affected by the oil price crisis in securing working capital and improving their cash-flow to sustain their businesses.
Under the programme, Petronas helps banks facilitate their due diligence through vendor verification, thus simplifying the risk assessment process and reducing approval time. PETRONAS, January 20, 2020
EAST ASIA
CNOOC Ltd unveils 2020 strategy
In line with its policy of keeping the market informed of its activities, CNOOC Limited announces a summary of its business strategy and development plan for the year 2020.
The company’s targeted net production for 2020 is 520 million to 530 million barrels of oil equivalent (BOE)*, of which, production from China and overseas accounts for approximately 64% and 36%, respectively. The Company’s
net production for 2019 is expected to be approximately 503 million BOE. The company’s net production for 2021 and 2022 are estimated to be around 555 million BOE and 590 million BOE, respectively.
The company’s total capital expenditure for 2020 is budgeted at RMB85 billion to RMB95 billion. The capital expenditures for exploration,
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