Russian oil major Rosneft has opened Rosneft Singapore, a subsidiary office located at the republic, to manage regional projects, as well as develop international trade in oil and petroleum products, it said on Friday (5 April).
“The Asia-Pacific region is the most promising in terms of increasing global energy consumption,” it notes in a translated statement.
“According to expert estimates, the consumption of primary energy in the Asia-Pacific region will increase more than one and a half times by 2040.
“The company is paying increased attention to the APR market – in 2018, oil supplies to the East increased by more than 24%, reaching 59.2 million tons.
“The opening of the company's office in Singapore will contribute to the further development of Rosneft’s business in one of the world's key energy markets.”
Photo credit: Rosneft
Published: 9 April, 2019
Current low prices for road and aviation fuels in September could mean another increase of flashpoint off-spec cases for MGO when players start introducing the products back into the bunker stream.
Some bunker suppliers at various ports have even achieved their sales target for the year; the trend doesn't seem to be slowing down and suppliers are expecting a boom during end of September.
The company has entered a memorandum of agreement with Millenium Satu Ltd to acquire the 7,550 dwt oil tanker to increase service flexibility; vessel will be paid over an installment period of 36 months.
Deloitte & Touche JMs believe IPP has a viable claim against Dr Goh Jin Hian for breaches of his director’s duties to act with skill, care and diligence which he owned to IPP, states court document.
An earlier MPA notice outlined precautionary measures for personnel to observe when conducting marine refuelling operations at port in order to minimise the risk of contracting Covid-19.
Mok’s offence affected public confidence in the use of the MFM system onboard Singapore bunker tankers, and caused an embarrassment to the MPA, said Deputy Public Prosecutors.