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Sumitomo to close Singapore crude, fuel oil trading desk at end-March

SINGAPORE (REUTERS) - Japanese trading house Sumitomo Corp plans to close its crude and fuel oil trading desks in Singapore at the end of March and will relocate the trading functions to its Tokyo headquarters, a company spokesman said on Thursday (Jan 14). The company will also exit its bunker fuel blending business in the city state, the largest global bunkering port, he said, without giving further details. The moves, reported by Reuters on Wednesday, come after stricter emissions standards imposed by the International Maritime Organisation starting 2020 reduced opportunities to compete through blending to produce bunker fuels. Market competitiveness and company strategy, among other factors, led to the decision to downsize its Singapore operation, a source with knowledge of the matter told Reuters.

Oiltanking serayaSummit energy resourcesSumitomo corpInternational maritime organizationSummit energyPetro summitMiddle eastSumitomo tokyoBusiness closuresCommodity marketOil and gas sectorஉச்சிமாநாடு ஆற்றல் வளங்கள்ஸூமிடோமொ கார்ப்சர்வதேச கடல் ஆர்கநைஸேஶந்உச்சிமாநாடு ஆற்றல்பெட்ரோ உச்சிமாநாடு

US blacklists China s CNOOC, S&P deletes oil giant from stock indices

The Straits Times The Commerce Department added CNOOC to its blacklist over what it called “belligerent” actions.PHOTO: REUTERS UpdatedJan 15, 2021, 5:57 pm PublishedJan 15, 2021, 12:00 am SGT https://str.sg/Jz5H They can read the article in full after signing up for a free account. Share link: Or share via: Sign up or log in to read this article in full Sign up All done! This article is now fully available for you Read now Get unlimited access to all stories at $0.99/month for the first 3 months. Get unlimited access to all stories at $0.99/month for the first 3 months. including the ST News Tablet worth $398.

United statesRepublic ofSouth china seaBrunei generalSpratly islandsDonald trumpWilbur rossSp dow jonesTreasury departmentUs commerce department on thursday janCommerce departmentPeople liberation armySouth chinaPresident donald trumpSecretary wilbur rossLiberation army

Shell case spotlights new front in climate change litigation

It could force other energy companies to accelerate the shift to cleaner fuels.. Read more at straitstimes.com.

Climate changeOil and gas sectorEnvironmental issuesகாலநிலை மாற்றம்எண்ணெய் மற்றும் வாயு துறைசுற்றுச்சூழல் சிக்கல்கள்

Hin Leong s judicial managers seek to freeze O K Lim family s assets

Hin Leong collapsed under US$3.5 billion (S$4.6 billion) of debt.. Read more at straitstimes.com.

Pricewaterhousecoopers pwOcean bunkering servicesXihe holdingsHin leong marine internationalHigh courtLeong tradingLim oon kuinDavinder singh chambersHin leong tradingEvan limHin leongSingapore governmentSingapore companiesDebt restructuring insolvencyOil and gas sectorபிரிசேவத்ேர்ொசெகூபேர்ச் ப்வ்

DBS, Keppel extend KrisEnergy s revolving credit facility

The Straits Times DBS, Keppel extend KrisEnergy s revolving credit facility Keppel, which also owns a 40 per cent stake in KrisEnergy, said the extension will support the latter s efforts to effect a consensual debt restructuring plan.PHOTO: KRISENERGY Fiona Lam https://str.sg/JRVC They can read the article in full after signing up for a free account. Share link: Or share via: Sign up or log in to read this article in full Sign up All done! This article is now fully available for you Read now Get unlimited access to all stories at $0.99/month for the first 3 months. Get unlimited access to all stories at $0.99/month for the first 3 months.

Krisenergy asiaSingapore high courtKeppel corpKeppel shipyardRubicon vantage internationalStandard chartered bankMaritime international servicesHigh courtMaritime internationalSingapore companiesOil and gas sectorDebt restructuring insolvencyசிங்கப்பூர் உயர் நீதிமன்றம்கெபல் கார்ப்கெபல் கப்பல் தளம்ரூபிகான் வ்யாஂடேஜ் சர்வதேச

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