Asia/Pacific
S.Korea's Hanwha Total to raise LPG use in cracker after expansion
PENANG (Reuters) — South Korea’s Hanwha Total Petrochemical will use at least four times more LPG feedstock when it completes raising its cracker capacity by 30% to 1.4 MMtpy in 2019, said a top executive.
Asian floating oil storage declines as crude market tightens
SINGAPORE (Reuters) — The amount of oil stored on tankers around Singapore has dropped sharply in the last months, the latest indication that OPEC-led supply cuts are successfully tightening crude markets even as US exports have soared.
China's CEFC, Rosneft to study South China petchem complex
BEIJING/MOSCOW (Reuters) — Private conglomerate CEFC China Energy and Russia's largest oil producer Rosneft have agreed to study the possibility of building a petrochemical complex in South China, Rosneft said on Friday.
China Energy Investment signs MOU for $83.7 B in West Virginia projects
BEIJING (Reuters) — China Energy Investment Corp, the world's largest power company by asset value, has signed a memorandum of understanding (MOU) to invest $83.7 B in shale gas, power and chemical projects in West Virginia, the US state said on Thursday.
Saudi Arabia to supply full Dec crude volumes to three North Asian refiners
SINGAPORE/TOKYO (Reuters) — Saudi Arabia, the world’s top oil exporter, will supply full contractual volumes of crude to three North Asian refiners in December, three sources with direct knowledge of the matter said on Thursday.
Indian Oil Corp starts crude oil trading through Singapore subsidiary
NEW DELHI (Reuters) — India’s top refiner Indian Oil Corp on Wednesday began trading crude oil through its Singapore unit, buying a million barrels of Nigerian oil Akpo, the state-run company’s head of finance AK Sharma said.
China sets 2018 non-state crude oil import quota 55% higher than 2017
BEIJING (Reuters) — China has raised its 2018 crude oil import quota for "non-state trade," generally meaning independent refiners, by 55% over 2017, raising the clout of the independents in the global market after a setback this year.
Oil at $70/bbl already a reality for some as Asian premium bites
SINGAPORE (Reuters) — The rising demand for crude oil that can more easily produce transportation fuels when refined has some Australian and Malaysian producers boasting cargoes valued at close to $70/bbl, a hefty premium to global benchmarks.
Sri Lanka fuel shortage to end on Nov. 9
COLOMBO (Reuters) — Sri Lanka's fuel shortage will end on Nov. 9, Petroleum Minister Arjuna Ranatunga said on Monday, as state-run oil retailer Ceylon Petroleum Corporation (CPC) and Lanka IOC traded blame charges over the shortage.
Continental receives in-principal approval of first refinery
SAMARINDA, KALIMANTAN TIMUR, Indonesia — Continental Energy Corporation announced that its Indonesian subsidiary PT Continental Hilir Indonesia (CHI) has received the in-principal approval of the Governor of the Indonesian province of East Kalimantan for the construction and operation of a crude oil refinery to be built at KIPI Maloy located in the Kutai Timur Regency of East Kalimantan.
- Transition Industries signs agreements for the Pacifico Mexinol Project, an ultra-low carbon chemical production facility 7/3
- Bangkok Airways introduces SAF on commercial flights 7/3
- EcoCeres secures SAF contract with British Airways to help reduce carbon emissions 7/3
- Air Liquide to invest up to $200 MM in Louisiana, U.S. to support industrial growth 7/3
- MOL completes the acquisition of LBC Tank Terminals 7/3
- BHP awards charter contracts for two ammonia dual-fueled vessels 7/3
