Singapore Bullion Market Association’s Post

Aramco in talks to acquire 10% stake in Chinese company Hengli Petrochemical Aramco, one of the world’s leading integrated energy and chemicals companies, has entered into discussions with Hengli Group Co., Ltd. (“Hengli Group”) regarding the potential acquisition of a 10% stake in Hengli Petrochemical Co., Ltd. (“Hengli Petrochemical”), subject to due diligence and required regulatory clearances. The companies today signed a Memorandum of Understanding (MoU) regarding the proposed transaction, which aligns with Aramco’s strategy to expand its downstream presence in key high-value markets, advance its liquids-to-chemicals program, and secure long-term crude oil supply agreements. Hengli Petrochemical, a controlled subsidiary of Hengli Group, owns and operates a 400,000 barrel per day refinery and integrated chemicals complex in Liaoning Province, China, and several plants and production facilities in Jiangsu and Guangdong Provinces. Ready to be part of KSA's remarkable journey? Connect with us at partners@novarabia.com. Source: https://lnkd.in/djre37YR #Aramco #HengliPetrochemical #HengliGroup #Acquisition #Energy #Chemicals #MoU #Downstream #LiquidsToChemicals #CrudeOil #SupplyAgreements #Refinery #ChemicalsComplex #China #HighValueMarkets #Investment #Partnership #KSA #SaudiArabia #BusinessOpportunity #ConnectWithUs #NovaArabia 

We are pleased to announce that Skrine represented Ping Petroleum Sdn. Bhd. (“Ping Petroleum”) on its entry with Duta Marine Sdn. Bhd. (“Duta Marine”) into a Small Field Asset Production Sharing Contract (“SFA PSC”) with PETRONAS for the development and production of three fields namely Bubu, Bunga Tasbih and Enau (“Beta Cluster”) located about 250km from the east coast of Peninsular Malaysia. Ping Petroleum is the operator of this SFA PSC with a 90% participating interest and Duta Marine having the remaining 10%.   Winning the Beta Cluster under the Malaysia bid round plus (MBR+) adds to Ping Petroleum’s existing assets namely Meranti, A Cluster and Abu clusters. The newly signed cluster lies between 4km to 8km from Ping’s existing Abu Cluster asset, providing significant synergy potential for an Area Development.   Skrine assisted Ping Petroleum in preparing and finalising the SFA PSC, and the joint operating agreement with Duta Marine for the development and production of the Beta Cluster.   The transaction team was led by Partner, Wei Xian Tan, and supported by Associate, Sarah Iskandar.   Media coverage of the transaction can be accessed at:   https://lnkd.in/gxyuvybh

Unlocking Malaysia's Rare Earth Elements (REEs) Potential 🌍🔋 🇲🇾 Discover how Southern Alliance Mining (SAM) harnesses Malaysia's REEs to drive sustainable growth and innovation! 🚗 Powering Tomorrow's Industries: REEs are the lifeblood of cutting-edge sectors, including electric vehicles, green energy generation, advanced electronics, and aerospace technology. These align perfectly with SAM's strategic focus on minerals that shape our future. 🏞️ Malaysia's Mineral Wealth: The nation boasts impressive reserves of Non-Radioactive REEs (NR-REEs), estimated at a staggering value of RM741 billion. Key regions include Kedah, Perak, Terengganu, Kelantan, Pahang, and Johor. This abundance significantly enhances SAM's diverse resource portfolio. 🌱 Sustainable Development: Our commitment to responsible mining practices ensures we tap into these valuable resources whilst preserving Malaysia's natural heritage for generations to come. Find out more: https://buff.ly/3QkJz1r

Bursa Petron Malaysia is a refinery cum petrol station business. Many believes that electric vehicles would eventually disrupt the petrol station business. But I suspect that it is probable a decade away. Does this mean that we should no consider investing in Petron Malaysia? Over the past 12 years, the company delivered an average return that was greater than its cost of funds. This is a financially sound company whose performance is affected by crude oil prices. Taking the performance over the oil price cycle into account, I found that there is a sufficient margin of safety from both the Asset Value and Earnings Power Value. Unless you have decades of investing horizon, I would think the is a counter worth a look For more insights go to page 20 of Invest https://lnkd.in/gSypyVw4

Egypt's Minister of Petroleum and Mineral Resources Karim Badawi met with Chief Operating Officer of Malaysia's Petronas Group Adnan Zainal Abidin to discuss the company’s current and future investments in Egypt. Read more > https://shorturl.at/N17jf #ArabFinance #Egypt #Economy #News

🔴 𝐅𝐫𝐞𝐞𝐩𝐨𝐫𝐭 𝐔𝐧𝐥𝐞𝐚𝐬𝐡𝐞𝐬 𝐂𝐨𝐩𝐩𝐞𝐫 𝐏𝐫𝐨𝐰𝐞𝐬𝐬 𝐰𝐢𝐭𝐡 𝐌𝐚𝐢𝐝𝐞𝐧 𝐂𝐨𝐧𝐜𝐞𝐧𝐭𝐫𝐚𝐭𝐞 𝐒𝐡𝐢𝐩𝐦𝐞𝐧𝐭 𝐭𝐨 𝐌𝐞𝐠𝐚 𝐒𝐦𝐞𝐥𝐭𝐞𝐫! 🏭 PT Freeport Indonesia (PTFI) has set sail on a new journey, commencing its first shipment of copper concentrate from Amamapare Port, Mimika Regency, Central Papua Province, to the newly operational PTFI Smelter in the Java Integrated Industrial and Port Estate (JIIPE), Gresik, East Java Province. Tony Wenas, President Director of PTFI, heralded this momentous occasion, stating, "The initial shipment of this concentrate marks a pivotal moment for PTFI and Indonesia, as all the copper concentrate will be refined domestically. This is a foundational step towards advanced downstream processing in Indonesia." Stay ahead of the curve and delve into the details of this groundbreaking development by reading the full article on: https://lnkd.in/epdMN7Cb Don't miss out on the latest insights and analysis from Indonesia's mining and resources sectors. Subscribe to our newsletter and gain exclusive access to our industry-leading reports, maps, and publications at Petromindo.com. 📰 #FreeportIndonesia #CopperConcentrate #MegaSmelter #DownstreamProcessing #IndonesiaMining #JIIPE #Petromindo

Fosters Stockbroking updated research for Syrah Resources Ltd (ASX:SYR) with a buy recommendation and a A$0.98 per share price target following a binding offtake agreement with Posco Future M Co., Ltd for natural graphite fines from their Balama Graphite Operations in Mozambique. Key takeouts from the report:  - Strategic possibilities? While the offtake is about Balama, it’s hard not to ignore other mutually beneficial opportunities: SYR’s Vidalia anode-producing plant in the US with IRA-conferred tax credits where Posco has none, and SYR’s plans for an expanded Vidalia and Posco’s balance sheet. - Indonesia anode another offtake opportunity. 

We are excited to welcome Atlantic Carbon Group (ACG) to the Delta Dunia Group family. Delta Dunia Group has successfully completed the strategic acquisition of ACG through American Anthracite SPV I, LLC, a controlled entity under PT Bukit Makmur Internasional (BUMA International). This value-accretive acquisition, valued at USD 122.4 million, significantly enhances our geographic, financial, and commodity diversification. This deal marks a significant milestone for the Group, expanding our operations from a mining service provider to global mine ownership, perfectly aligning with our goal of embracing future-facing commodities and seizing key opportunities. The addition of ACG is projected to boost our revenue by USD 120-130 million annually from 2024 to 2028, increasing our non-thermal revenue share from 19% in FY2023 to 28% in FY2024. This acquisition enables ACG and PT Bukit Makmur Mandiri Utama’s operations in Indonesia and Australia (BUMA Australia), along with our adjacent businesses at PT Bukit Teknologi Digital and BIRU, to synergistically leverage their extensive experience, best practices, and innovative approaches in safety, mining operations, and management. See the full story here https://lnkd.in/gJRswduV #DOID #DeltaDuniaGroup #Anthracite #StrategicAcquisition #FutureFacingCommodities #Sustainability

License to drill Catching up at Marinis Grand Caffe, Kuala Lumpur on 27 June 2024 with the highly decorated Mr. En. Fuzz Sufian BSc. , SPM, PMR, UPSR, Prakash Logan and Nanda Kumar. The smiles have returned on the faces of industry players who are once again back in the black and busy meeting the rising global demand for the black gold which fell sharply while Covid-19 was raging. Against the backdrop of economic rebound post-pandemic, geopolitical tensions and capacity constraints, consumption of fossil fuel is showing no sign of relenting despite the global move towards energy transition. Companies are having their hands full supporting oil and gas majors in their exploration and production activities which have gathered considerable pace following the reopening of economies and the full resumption of business and daily activities.

Petron Malaysia Refining & Marketing Bhd (PMRMB) ends 2023 with strong operating performance, posted a net profit of RM41 million in the fourth quarter of 2023 amid the still volatile market. It was mainly driven by the 8% growth in the company’s sales volume. Despite the softening of oil prices, revenue for the quarter of RM4.5 billion was up 5% compared to the prior year, attributed mainly to higher volume.   The sustained oil price decline during the quarter limited gross profit to RM32 million. This translated to an operating loss of RM30 million, a 36% reduction from the RM47 million loss incurred in the same quarter of 2022.   “2023 was another year of challenges due to the continued volatility in oil prices, a fragile global economic recovery, and ongoing geopolitical conflicts in the Middle East and Eastern Europe. Nevertheless, Petron demonstrated resilience and took necessary measures to overcome external market uncertainties. Moving forward, PMRMB will continue to grow its retail presence, improve product quality, and increase efficiencies to ensure our robust and sustainable operations," said PMRMB Chairman Ramon S. Ang.   Read more from here: https://shorturl.at/cJWZ8