Singapore and Malaysia Oil and Gas Market Update Nov, 2013

• Bright Stock Singapore Base Oil FOB prices increase by USD 15 PMT in October 2013 as compared to previous month price.
• Malaysia’s Petronas Defers Base Oil Plant Upgrade.
• KS Energy sets up drilling services JV in Mexico – Singapore-based KS Energy has signed a memorandum of agreement (MOA) with Mexican firm Empresas ICA to set up an oil and gas joint venture in Mexico.
• Technip Malaysian JV wins gas field development bid – The joint venture between Technip and Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE) has received confirmation from PETRONAS Carigali for EPCIC contract for the development of two gas fields in Block SK316.
• Singapore Exported most of its Base Oil to countries like USA, China, Malaysia, Thailand, Australia etc.
• Ezra awarded US$110 million worth of new projects in subsea construction and offshore support services.
• Cape secures access contract in Thailand.
• The Singapore Exchange (SGX) has been attracting a steady flow of new listings from the oil and gas exploration sector.
• Glencore hired Arcadia oil trading team in Singapore.