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India: Air India Debt Worrying Fuel Creditors – Report

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National carrier Air India’s $360m jet fuel debt is worrying oil marketing companies as there is no bank guarantee backing it up, according to Indian daily Business Standard. Air India owes money to three of the country’s oil majors – Bharat Petroleum, Indian Oil Corp, and Hindustan Petroleum – and is unable to pay its debt after a 60-day grace period expired, the newspaper said, citing an unnamed company official. 

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Malaysia: Petronas Dagangan Targets 10% Increase in Sales

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Petronas Dagangan has said that it aims to increase its sales by 10% to 5bn litres a year. The company said that it sold well over 4bn litres of fuel last year and that it intends to fuel the increase through an increase in sales at the pumps. “There are 74 stations in the pipeline this year, with half already set up,” said Akbar Md Thayoob, General Manager at the company’s retail business division.

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Japan: JX Nippon Shuts Downstream Units After Recording False Health and Safety Logs

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JX Nippon has shut its Mizushima B refinery in order to carry out maintenance and safety checks after it was discovered to have falsified the facility’s health and safety logs. JX, Japan’s number one refiner, announced that 18 of the 26 liquefied petroleum gas tanks at the site do not meet regulations around two weeks after the discovery. The company had falsified its records since 2000, a report by the Reuters news agency says. 

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