Asia/Pacific
Oil traders expect Asia to import more Venezuelan crude if US sanctions kick in
SINGAPORE/HOUSTON (Reuters) — Asia would be the biggest beneficiary of any potential sanctions by the United States on Venezuela's oil sector, said traders and analysts, as exports from the South American OPEC member could be redirected to the region, filling a vacuum left by producer supply cuts.
Oil prices slip on Chinese demand concerns, rising US activity
AMSTERDAM (Reuters) — Oil prices fell on Monday as a slowdown in Chinese refining raised concerns about demand in the world's second-biggest consumer, while an increase in US drilling capacity could deepen a global supply glut.
China refinery runs at 10-mth low amid inventory glut
BEIJING (Reuters) — Chinese oil refineries operated in July at their lowest daily rates since September 2016, official data showed on Monday, to ease brimming inventories as state-owned oil giants faced off independents in a retail petrol price war.
The Strait of Malacca, a key oil trade chokepoint, links the Indian and Pacific Oceans
Nearly one-third of the 61% of total global petroleum and other liquids production that moved on maritime routes in 2015 transited the Strait of Malacca, the second-largest oil trade chokepoint in the world after the Strait of Hormuz. Petroleum and other liquids transiting the Strait of Malacca increased for the fourth time in the past five years in 2016, reaching 16 MMbpd.
India's refiners bet big on petrochemicals as industry reshapes
NEW DELHI (Reuters) — India's state oil refiners—long focused on churning out transport and cooking fuels—are planning a $35 B push into petrochemicals to meet an expected surge in demand for goods ranging from plastics to paints and adhesives.
Amec Foster Wheeler JV enters Australian petchem market with ammonia facilities contract
LONDON — Clough AMEC has won a landmark contract to provide maintenance services to ammonia facilities in Western Australia that supply international and domestic fertilizer markets and explosives used in the mining industry.
S.Korea's GS Caltex shuts heavy oil upgrading unit after fire
SEOUL (Reuters) — GS Caltex, South Korea's second-largest oil refinery, said it has shut a heavy oil upgrading unit after a fire mishap on Thursday.
Australia antitrust regulator raises flags on BP Woolworths petrol buyout
(Reuters) — Australia's antitrust regulator said on Thursday it was concerned BP Plc's plan to buy the petrol stations of grocery giant Woolworths Ltd would hurt competition, a sign it may block the $1.4 B deal.
India set to unveil new biofuel policy in bid to cut oil, gas, coal imports -minister
NEW DELHI (Reuters) — India will soon announce a new policy to promote biofuels as part of efforts by the world's third-largest emitter of greenhouse gases to cut imports of fossil fuels like oil, gas and coal, a government minister said on Thursday.
Vietnam refinery operator plans $84 MM IPO, eyes 49% strategic sale
HANOI (Reuters) — Vietnam's sole refinery operator Binh Son Refining (BSR) plans to sell 4% of its shares in an initial public offering in November and to sell another 49% of its shares to strategic investors next year, its chairman said on Thursday.
- CNOOC completes construction on $2.9-B, 1.8-MMtpy integrated complex in east China 8/22
- bp's Whiting refinery (U.S.) continues to flare days after severe thunderstorm 8/22
- Bachmann introduces latest version M-Target for Simulink 8/22
- U.S. to rule on biofuel waivers, but big oil refiners may need to wait 8/22
- Chinese independent refiner Hongrun buys Canadian, Brazilian crude 8/22
- Ukrainian attack suspends Russian oil flows to Hungary, Slovakia 8/22
