World News
Petronas Eyes Oil and LNG Bunkering Partnership With ADNOC
Malaysian energy producer Petronas is considering working with the UAE's ADNOC on conventional and LNG bunkering as part of a mooted partnership between the two firms.
The two companies have signed a memorandum of understanding on collaboration "across the energy value chain," Petronas said in a statement on its website on Wednesday.
"Another potential is in the area of fuel bunkering and in supporting LNG bunkering vessels at ports in the UAE and the region."
Petronas has already announced several deals expanding its presence in the LNG bunker market this year. The firm is working with Sumitomo to supply LNG to ships in Tokyo, Johor and Malacca, it said last month, and is working with Japan's Jera Co to set up a global LNG bunker supply network.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 565.50 | 4.50 | 678.50 | 4.50 |
| Rotterdam | 512.00 | 3.50 | 676.00 | 9.00 |
| Houston | 552.00 | 3.00 | 682.00 | 4.00 |
| Fujairah | 555.50 | 7.50 | 753.00 | 1.50 |
| Global 20 Ports Average | 583.50 | 4.00 | 762.50 | 2.50 |
| Global 4 Ports Average | 546.50 | 4.50 | 697.50 | 2.50 |
| Global Average Bunker Price | 632.50 | 2.00 | 811.00 | 1.50 |
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