With Asia expected to contribute around 90 percent of the world’s growing oil demand over the next five years, we are seeing more and more regional partnerships being established. India and Malaysia are the latest of many forging links to ensure the future of energy in Southeast Asia. Malaysia’s state-owned Petronas is planning to partner with Indian Oil Corp. (IOC), to build liquefied natural gas (LNG) terminals and expand fuel retailing and gas distribution, expanding its existing role as an LPG exporter to India. The company also hopes to help shift India’s oil refining industry beyond predominantly national players. The joint venture, of which each state company owns 50 percent, will be called IndianOil Petronas Private Ltd., or IPP. IPP expects to retail transport fuels including diesel and gasoline, as well as managing city gas supply. At present, national refiners dominate the market, with international oil majors, such as […]