Asia/Pacific
PetroChina reports record interim net profit on refining surge
State-owned energy giant PetroChina reported a record-high net profit for the first half of the year, driven by increased oil and gas output and resurgent refined fuel sales.
Japan considering extending gasoline subsidies to year-end
Japan's government is considering extending until year-end fuel subsidies to keep gasoline prices below 180 yen a liter, while working on a supplementary budget to finance broader measures.
China's Sinopec plans steady refinery output on fuel recovery
Chinese refining giant Sinopec Corp plans to maintain steady refinery output during the second half of 2023 as domestic fuel demand recovers, after reporting a 20% decline in interim profit because of lower crude oil prices.
Sinopec not interested in acquiring Shell's Singapore assets
Asia's top refiner, Sinopec Corp, is not interested in acquiring Shell's refinery or petrochemical plant in Singapore although it is keen on participating in a shale gas project in Saudi Arabia.
Oil steadies as China moves to support economy, tropical storm in focus
Oil was little changed after China took steps to bolster its flagging economy, though investors remained worried about the pace of growth as well as further U.S. interest rate hikes that could dampen demand.
Scientists use quantum device to slow down simulated chemical reaction 100 billion times
Scientists at the University of Sydney have, for the first time, used a quantum computer to engineer and directly observe a process critical in chemical reactions by slowing it down by a factor of 100 billion times.
Ethylene copolymers market is anticipated to reach $90 B by 2033
The global market is anticipated to have a steady CAGR of 4.2% during the period from 2023 to 2033. The overall market size is predicted to expand from $59.4 B in 2023 to $89.6 B by 2033.
Developing countries see more resin imports as China, U.S., Europe demand challenged
Brazil-based Braskem, Latin America´s biggest petrochemical organization, is seeing atypical scenarios in plastic resin markets that include very large flows of plastic resin exports from the world´s top producer countries into the less developed areas because much of the Northern Hemisphere demand remains challenged.
Abundant, cheap Iranian oil supply to cap Russian prices in China
Rising prices of a popular Russian crude sold to China are poised to peak soon as more independent refiners are likely to switch to cheaper oil from Iran which has ramped up exports to fresh 4-1/2 year highs in August, several trade sources said.
Indian refiner HPCL meets up to 23% of oil need with Russian grades
Indian refiner Hindustan Petroleum Corp Ltd is meeting up to 23% of its oil needs through discounted Russian grades, its chairman Pushp Kumar Joshi said at the company's annual shareholder meeting.
- YPF, Eni and XRG sign joint development agreement advancing 12-MMtpy Argentina LNG project 2/12
- Maire launches new technology to produce PTMEG, the key polymer composing the spandex fiber. 2/12
- Verde Clean Fuels announces suspension of development of Permian Basin gas-to-gasoline project 2/12
- Vietnam's largest refinery to operate at 120%-125% of designed capacity in Q1 2/12
- Indonesia's Medco expansion plans bet on rising energy demand in Southeast Asia 2/12
- Brazil to rebuild ethanol stocks in new harvest after 21% drop in 2025-2026 2/12
