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Retail Asia25/01/2019

Gold prices rose on Thursday as the dollar declined due to concerns the prolonged U.S. government shutdown will limit economic growth at the same global growth is slowing as well. Spot gold was up 0.1 percent at $1,283.31 per ounce, as of 0326 GMT, while U.S. gold futures were down 0.1 percent at $1,282.60 per […]

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Retail Asia09/01/2019

Malaysian state oil company Petroliam Nasional Bhd (Petronas) started trial runs at the crude distillation unit (CDU) for a joint-venture refinery with Saudi Aramco in Malaysia last week, two sources with knowledge of the matter said this week. The move marks a major milestone for the US$2.7 billion (RM11 billion) project known as Rapid – […]

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Retail Asia26/12/2018

The Nghi Son Refinery began commercial operation Sunday, and is expected to meet about 40 percent of domestic petroleum demand in 2019. Speaking at its inauguration, Prime Minister Nguyen Xuan Phuc emphasized the key role of the project. The refinery will process 200,000 barrels of crude per day in the first phase, equivalent to 10 […]

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Retail Asia24/12/2018

Vietnam’s second-largest oil retailer, PV Oil, is seeking multiple buyers, instead of a single strategic investor, for a 44.72 percent stake. Although many investors expressed interest in becoming strategic partners with PetroVietnam Oil (PV Oil), including British-Dutch oil company Shell, South Korea’s SK Energy, and Idemitsu, a Japanese petroleum company, complicated administrative procedures have discouraged […]

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Retail Asia30/11/2018

LNG Canada, the US$30 billion (RM125.7 billion) liquefied natural gas (LNG) export project, has bagged another client after project shareholder Petroliam Nasional Bhd (Petronas) signed an initial sales deal with trading house Vitol. Royal Dutch Shell decided in October to construct the export terminal. It was the first major investment decision in a new North […]

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Retail Asia29/11/2018

Murphy Oil Corporation is in talks to sell its Malaysian oil and gas assets after an unsolicited bid that could fetch between US$2 billion to US$3 billion (RM8.4 billion to RM12.6 billion), people familiar with the matter said, in the latest energy merger and acquisition deal in the Southeast Asian nation. The independent US oil […]

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Retail Asia22/11/2018

Vietnam’s total oil refining capacity will nearly quadruple by 2023 as two new refineries go on stream, market data provider Fitch Solutions reports. The Dung Quat refinery in the central province of Quang Ngai operated by the state-owned PetroVietnam’s subsidiary Binh Son Refinery Limited (BSR) remains the sole facility now, with a crude oil processing […]

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Retail Asia12/11/2018

Moody’s Investors Service has downgraded Petronas LNG Ltd’s (PLL) ratings outlook to “negative” from “stable”, following the same outlook revision for its parent company Petroliam Nasional Bhd’s (Petronas) yesterday. At the same time, the rating agency has affirmed PLL’s A3 foreign and local currency issuer ratings. Moody’s said the changes reflects its negative outlook on […]

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Retail Asia06/11/2018

Petroliam Nasional Bhd’s (Petronas) solid balance sheet, sizeable net cash position and ample liquidity provide ample buffer against the payment of one-off dividend to the government that could reach RM30 billion. According to S&P Global Ratings, the financial impact of a one-off dividend of this size is moderate considering Petronas’ cash position and balance sheet […]

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Retail Asia24/10/2018

Tokyo Gas is interested in cooperating with Vietnam’s PetroVietnam Power Corp (PV Power) to develop a natural gas-fired power project in the Southeast Asian country. On Friday, PV Power’s parent said that Tokyo Gas wants to help secure long-term liquefied natural gas supplies and funds for the construction of the Nhon Trach 3 & 4 […]

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Retail Asia27/07/2018

The Ministry of Trade has decided to postpone for six months the application of rules saying coal and crude palm oil export shipments should use Indonesian insurers, the country’s leading coal industry association said. The decision would be the second time that application of the rules, issued in October and due to come into effect […]

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Retail Asia25/01/2018

Shipbuilding firm TAS Offshore Bhd swung to the red registering a net loss of RM1.56 million for the second quarter ended November 30, 2017 against a net profit of RM489,000 in the previous corresponding period, due to unrealised forex losses as a result of the strengthening ringgit. Revenue however, jumped three times from RM2.92 million […]

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Retail Asia27/12/2017

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PTT, the national oil and gas conglomerate, plans to double profit margin from fuel retailing business to 30% of total sales by 2022, says Auttapol Rerkpiboon, chief of operations for downstream petroleum business. To achieve the goal, the company has set aside a capital spending budget next year of 12.17 billion baht, with another 10 […]

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Retail Asia14/12/2017

Vietnam hopes to raise a total of more than $570 million by selling stakes in an oil refinery, an oil distribution firm and a power company, the government website said on Saturday. The country has accelerated its privatization program in recent weeks, partly because of the need to fund a budget deficit and in the […]

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Retail Asia24/05/2017

The “Amazon effect” has disrupted the entire retail industry by conditioning consumers to expect personalized, customer-centric service. As ecommerce gains market share, U.S. retailers are looking abroad for growth. Nordstrom, for instance, recently expanded to Canada and boosted revenue. Another hot market for foreign expansion is China, with nearly 1.4 billion consumers who are tech-savvy, […]

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Retail Asia17/05/2017

Petron, the country’s biggest oil refiner and retailer, has partnered with two foreign firms to start building a new oil refinery worth $15 million to $20 billion by early 2018. “This is the biggest investment in the Philippine history so far. Have you seen a plant that is worth that much?” Ramon Ang, president and chief executive […]

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Retail Asia12/04/2017

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State-owned oil and gas company PT Pertamina is seeking to acquire more oil and gas blocks in the country and abroad to meet its production target set by the government. “Operations abroad are expected to contribute 33 percent to the companys target of production of 1.9 million barrel oil equivalent per day in 2025,” its […]

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Retail Asia07/02/2017

South Korean motorists pay much higher oil taxes than their counterparts in the United States and Japan, a report said Monday, sparking calls for the government to lower them. According to the report by online crude price provider Opinet, gasoline prices in South Korea averaged 1,455 won ($1.28) per liter in December last year, with […]

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Retail Asia19/01/2017

Greenpeace International launched a new report on Tuesday, January 17, 2017, accusing British HSBC of supporting deforestation. The report stated that British HSBC provided financial services to palm oil companies that are causing rainforest destruction and human rights abuses in Indonesia. The report titled “Dirty Bankers: How HSBC is financing forest destruction for palm oil“, […]

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Retail Asia15/01/2017

Indonesias export of crude palm oil (CPO) and its derivatives fell by nearly 2 percent to 25.7 million tons in 2016 from 26.2 million tons in 2015 from after-effects of the El Nino weather phenomenon. “At the end of 2015, oil palm fruit production fell due to the El Nino-induced drought for all of 2015. […]

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