Asia/Pacific
Russia's Novak: companies will decide if they cut oil exports or output
Russian Deputy Prime Minister Alexander Novak said that individual companies would decide whether to cut oil production or exports in August but Russia's task was to reduce supplies to world markets.
China's June crude imports soar 45.3% year over year as inventories build
China's crude oil imports in June jumped 45.3% on the year to the second-highest monthly figure on record, customs data showed, with refiners building up inventories despite tepid domestic demand.
IEA trims 2023 oil demand forecast on economic headwinds
Oil demand is set to hit a record high this year but economic headwinds and interest rate hikes mean the increase will be slightly less than anticipated, the International Energy Agency said.
Pakistan negotiating for a second discounted Russia crude shipment
Pakistan is negotiating to buy a second shipment of discounted Russian crude oil, the South Asian country's petroleum minister said.
BASF to supply Neopentyl Glycol from Zhanjiang to KHUA
BASF and Zhejiang Guanghua Technology Co.,Ltd. have signed a Letter of Intent for the supply of Neopentyl Glycol from BASF’s Zhanjiang Verbund site to KHUA.
H.E. Minister Saad Sherida Al-Kaabi stated that QatarEnergy will supply 40% of new LNG by 2029 at the LNG 2023 "Leadership Dialogue"
His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, said “40% of all the new LNG that will come to the market by 2029, when all our projects are up and running, is going to be from QatarEnergy.”
Saudis to supply full oil volumes to Asia in August, China requests less again
Saudi Aramco has informed some clients in North Asia they will receive full nominated volumes of crude oil in August, several sources with knowledge of the matter said, while top buyer China once again requested for less supply.
Russian gasoline exports jump as Asia, Africa replace Europe
Russia's gasoline exports rose in January to June despite the introduction of the European Union's embargo, thanks to healthy supplies of the fuel to Africa and Asia, data from market sources showed and traders said.
Indonesia seizes Iranian-flagged tanker suspected of illegal oil transfer
Indonesia's coast guard said it seized an Iranian-flagged supertanker suspected of involvement in the illegal transshipment of crude oil and vowed to toughen maritime patrols.
India's ethanol program will cap future sugar exports
India, the world's second-largest sugar producer and a major exporter in recent years, will likely have a smaller role in the sugar export market going forward as its government-led ethanol program continues to expand.
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