Dateline 2012-10-30:
Energy pricing agency Platts has approved a new storage terminal in southern Malaysia set up by a joint venture of oil trader Vitol to participate in its assessment process for oil products, a step that could strengthen the region’s role as a trading hub.
The move will also allow the Geneva-based trading house, which is a major player in the Asian market, to take bigger trading positions and gain greater flexibility.
Platts, which provides Asian benchmark assessments for most oil products traded in the region, will include Malaysia’s new Tanjung Bin storage terminal in its pricing process for fuel oil, diesel, jet fuel and gasoline from Dec. 1, the unit of McGraw Hill told subscribers.
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Wata - Malaysian Oil and Gas Engineer 