Benalec Holdings and Rotary Engineering to build oil storage terminal in Johor

Malaysia’s Benalec Holdings Bhd announced that it has entered into a memorandum of understanding (MoU) with Rotary Engineering Ltd., a Singapore-listed provider of engineering, procurement and construction services (EPC).

Marketplace

BPCL launches fuel efficiency campaign

To increase awareness on fuel efficiency and provide better service to customers, Bharat Petroleum Corp. Ltd. (BPCL) launched the “Fuel 2 Faayda” …

Mekong Petroleum ends importation of petroleum and oil products

Mekong Petroleum JSC signified its intent to end the importation of petroleum and oil products in 2012 through a document sent to the Vietnamese …

Original Equipment Manufacturers

Tata Motors issues recall of upgraded Nano

Tata Motors will spend some Rs 110 crore (US$22.3 million) for the replacement of the starter motors in the upgraded Nano it launched in …

Toyota launches Acqua Hybrid

Toyota rolled out the Acqua Hybrid in late December, with order for 60,000 units ahead of its launch date. The total of advance orders is five times the monthly sales target of 12,000 units. The Japanese automaker said it will take …

Policy, Tax & Regulations

Vietnam will closely monitor electricity, coal and petroleum

Vietnam’s Finance Minister Vuong Dinh Hue presented the country’s financial-banking tasks for 2012 and said that the government will closely monitor …

India to phase out Euro lll petrol and diesel

Starting March 31, 2012, Euro IV petrol and diesel fuel will be sold in seven cities in India and Euro III fuel will be phased out in seven cities, …

New Projects & Upgrades

CNPC plans to build bioethanol plant

China’s largest oil and gas producer, China National Petroleum Corp. (CNPC), said it is planning to build a bioethanol plant in Zhoushan in Zhejiang Province, which will produce ethanol from …

Pertamina and Saudi Aramco to build oil refinery in East Java

Indonesia’s state oil and gas company PT Pertamina and Saudi Aramco have agreed to build a US$9 billion oil refinery in Tuban, East Java. An initial …

 

Renewable Fuels

CNOOC Biolux to hold trial run of biodiesel plant in March

CNOOC Biolux (Nantong) Bioenergy Protein Feed Co. Ltd., a joint venture between China’s CNOOC New Energy Investment Co. Ltd. and Austria’s BIOLUX Biofuel …

World Health Energy to build algae biodiesel

World Health Energy Holdings, Inc. (WHEN) recently acquired the algae technology company GNE-India. GNE-India owns the distribution and licensing rights to an innovative …

Alternative Fuels

China releases EV charging standards

To encourage the use of electric vehicles in the country, China released standards for electric filling stations and vowed to provide technological support for the construction of electric-related infrastructure. The new standards …

Toyota Tsusho in partnerships to build charging stations in China

Toyota Tsusho entered into partnerships with two Chinese companies, Potevio and Chongqing Chanpeng, for the development of charging stations for electric …

Financials

Deutsche Bank to loan TPPI US$ 1 billion

PT Trans Pacific Petrochemical Indotama (TPPI) finally signed a debt restructuring agreement with its creditors which allows the Indonesian company to service its debt with a loan from Deutsche …

Pertamina says net profit for 2012 will increase by 32%

Indonesia’s oil and gas firm, PT Pertamina, is aiming for a 32% increase in net profit from its 2011 target of Rp 17.7 trillion (US$1.9 million) to Rp23.5 trillion (US$2.6 billion) in 2012.

Newsmakers

AFPM appoints general counsel and two vice presidents

American Fuel & Petrochemical Manufacturers(AFPM), formerly the National Petrochemical & Refiners Association(NPRA), President Charles T. Drevna announced …

ExxonMobil Chemical appoints Birdsall as vice president of global synthetic fluids business

ExxonMobil Chemical announced the appointment of Chris Birdsall as vice president of its global synthetic …

 

Fuel Economy & Emissions

GM, Teijin to develop lightweight auto materials

General Motors Co. (GM) signed a deal with Japan’s Teijin Ltd. to develop advanced, lightweight composites for GM vehicles. The joint venture is expected to result in the greater …

Lab equipment manufacturers to benefit from China’s revamp of air pollution standards

Thermo Fisher Scientific Inc., the world’s largest maker of scientific instruments in terms of revenue, will be one of the biggest beneficiaries of the recent revamp of air pollution …

Lubes, Base Oils & Additives

Shell Oman signs agreement with Oiltanking to store base oils

Shell Oman Marketing Company signed a 10-year agreement with Sohar Industrial Port-based Oiltanking Odfjell Terminals to receive and store lubricating …

Kazakhstan extends ban on petroleum, lubricants export until 2015

Kazakhstan’s Minister of Oil and Gas, Sauat Mynbayev, announced that the country will extend the ban on the exportation of petroleum, oil products and lubricants until 2015. The ban will be extended pending completion …

Research & Development

Afton opens R&D lab in China

Afton Chemical of Richmond, Virginia, U.S.A. opened a research and development (R&D) laboratory in the Suzhou Industrial Park in China in late December. The center houses …

Toyota and BMW enter research agreement and engine procurement deal

Toyota Motor Corp. and BMW AG forged a partnership that will conduct research on lithium-ion batteries for next-generation green cars. The deal does not involve capital tie-ups, and both companies, …

Mergers & Acquisitions

Lubrizol completes acquisition of Active Organics

Cleveland, Ohio, U.S.A.-based Lubrizol Corporation said it has completed the acquisition of Active Organics, Inc., a leading manufacturer and supplier of …

San Miguel Corp. eyes another acquisition

San Miguel Corp. (SMC), the Philippines’ largest food and beverage company, is in negotiations to buy another Asian energy company which is said to have annual revenues in excess of US$6 billion, according to San Miguel President and Chief …