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Asia/Pacific

Enterprise: US oil exports to meet 5% of non-US global demand by 2022

SINGAPORE (Reuters) — Crude oil exports from the United States will increase to meet 5% of global demand by 2022, as refiners seek more low-sulfur crude to meet stricter rules for cleaner fuels, an executive from Enterprise Partners LP said on Monday.

China's state planner approves new oil refinery in Hebei province

BEIJING (Reuters) — The Hebei provincial division of China's National Development and Reform Commission (NDRC) said on Monday that it approved a refinery project owned by private company Risun Coal Chemicals Co.

India's refining capacity expansions lags growth in fuel demand

SINGAPORE (Reuters) — India may export fewer fuels in the next four years as growth in the demand for oil products is rising faster than new refining to produce them is being added, an Essar Oil company executive said on Monday.

Sri Lanka in talks with two Chinese firms for $3 B refinery

COLOMBO (Reuters) — Sri Lanka is in talks with two Chinese companies about investing up to $3 B to build in a new refinery at its Chinese-controlled port, a top government official said on Friday.

Japan's Idemitsu shuts Chiba naphtha cracker

TOKYO (Reuters) — Japan's Idemitsu Kosan shut the 414,000 tpy Chiba naphtha cracker on Friday to increase its capacity to process propane, an industry source familiar with the matter said.

S.Korean fuel oil exports to China rise, dent shipments from Singapore

SINGAPORE (Reuters) — Two South Korean refiners are exporting excess cargoes of residual fuel oil to nearby China, displacing some Singaporean sales of the commodity which can be used in ships and power stations, three trade sources said.

Japan fires up biomass energy, but fuel shortage looms

TOKYO (Reuters) — As the sun sets on Japan's solar energy boom, companies and investors are rushing into wood-burning biomass projects to lock in still-high government subsidies.

OPEC says winning battle to curb oil glut

VIENNA (Reuters) — OPEC and other oil producers are clearing a glut that has weighed on crude prices for three years and may wait until January before deciding whether to extend their output curbs beyond the first quarter of 2018, ministers said on Friday.

LyondellBasell begins production at new PP compounding plant in China

HOUSTON and ROTTERDAM, The Netherlands — LyondellBasell announced the successful startup of a new 20 ktpy polypropylene (PP) compounding plant in Dalian, China. This is the company's third facility in China, strategically located to serve the region's growing automotive market.

New Zealand jet fuel rations increased as govt calls in navy to beat shortage

WELLINGTON (Reuters) — New Zealand will partially ease fuel rationing on Thursday night, a spokesman for the country's oil industry said, a sign that the five-day long fuel shortage that has caused air travel disruptions is subsiding.