Malaysia willing to work with Singapore on regional oil pricing


See, we could have stored crude when it was USD45 a barrel.

Dateline 2015-02-27, The Malaysian Insider:

Malaysia is willing to work with Singapore to become part of a regional oil pricing area, including offering land for storage the island state lacks, the head of a Malaysian state body coordinating a major new oil hub said.

Despite being an oil and gas exporter, Malaysia lacks sufficient storage and refineries to allow it to act as a pricing hub like Singapore, Europe’s ARA hub (Amsterdam, Rotterdam and Antwerp) or Houston in the United States.

In a bid to remedy this, Malaysia is building the Pengerang Integrated Petroleum Complex (PIPC) at its southern most point in Johor state, about 10km east of Singapore.

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This entry was posted on Friday, April 17th, 2015 at 6:26 am and is filed under investment, Malaysia, oil and gas. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

3 Responses to Malaysia willing to work with Singapore on regional oil pricing

  1. Hairil says:
    April 17, 2015 at 11:56 am

    Singapore has already built storage facilities underground.

    http://www.straitstimes.com/the-big-story/explainers/story/five-things-know-about-the-jurong-rock-caverns-20140902

    Reply

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