Platts to include Malaysia’s Pengerang terminal in Singapore pricing process

May 8, 2015

And, introducing in the red corner, Singapore GIC’s next takeover target:

Dateline 2015-03-30, Rueters:

Oil pricing agency Platts said on Monday it will include the Pengerang oil terminal in the southern Malaysian state of Johor in its Singapore price assessment process from May 1.

The move is expected to offer traders more flexibility in loading cargoes and improve market liquidity, traders said.

Apart from landed storage tanks in Singapore, Platts currently recognises loadings from Pasir Gudang, Tanjung Langsat, Tanjung Bin and certain floating storage units in nearby waters for its Singapore price assessment process.

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Malaysians could see fuel subsidy cuts after Najib victory

May 18, 2013

File this under ‘obvious’

From Platts, 2013-05-06:

Malaysians could witness their first fuel subsidy cut in 2 1/2 years, following the victory of incumbent Prime Minister Najib Razak in the Sunday elections, HSBC said in a note Monday.
According to the bank, Najib, who has made fiscal reform his priority, could look at cutting subsidies as early as this year.
Malaysia subsidizes 95 RON gasoline and diesel, the prices of which were last raised by MR0.05 ($0.02)/liter to MR1.90/liter and MR1.80/liter, respectively, on December 1, 2010.
Subsidies on 97 RON gasoline were removed in July 2010, and the fuel is subject to a managed float, where the price is determined by an automatic pricing mechanism that tracks international oil price movements.

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Platts adds new Malaysia storage terminal to pricing process

November 16, 2012

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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