Asia/Pacific
S.Korea’s Hyundai Heavy wins ship contract from Vitol worth up to $600 MM
SEOUL (Reuters) — South Korea's Hyundai Heavy Industries Co has won a contract worth up to $600 MM from Vitol, the world's largest independent oil trader, for as many as eight gas tankers.
Asian imports of Iranian oil hit 14-month low
TOKYO (Reuters) — Imports of Iranian crude by major buyers in Asia fell for a second month in a row to a 14-month low in June, weighed down by sluggish purchases by China and Japan.
Vietnam plans to spend over $6 B for crude oil, fuel storage
HANOI/SINGAPORE (Reuters) — Vietnam plans to spend more than $6 B to build a strategic petroleum reserve and to expand commercial storage for crude oil and oil products by 2025, according to a document reviewed by Reuters.
China diesel demand expected to return to growth as economy improves
SINGAPORE (Reuters) — Chinese demand for diesel will rise again this year after contracting for the first time in over a decade in 2016, buoyed as the world's No.2 economy shows signs of growth, traders and analysts said.
S.Korea's SK Innovation sees favorable refining margins in H2
SEOUL (Reuters) — SK Innovation Co Ltd, the owner of South Korea's top refiner, said on Thursday that it expects solid demand to keep refining margins healthy in the second half of this year.
Sri Lanka deploys military to maintain fuel supplies after strike
COLOMBO (Reuters) — Sri Lanka deployed its military on Wednesday to help distribute fuel after tens of thousands of employees of the state-run firm that controls the bulk of supplies in the island nation went on strike, officials said.
Essar commissions coke drum structure packages for BPCL’s Kochi Refinery
MUMBAI — Essar Projects India Ltd. (EPIL), an EPC contractor, announced the successful testing and commissioning of the coke drum structure package (CDSP) for Bharat Petroleum Corporation Limited’s Kochi Refinery (BPCL-KR). The contract value of this package is Rs. 645 crores.
China's crude oil imports to exceed 400 MMt this year
BEIJING (Reuters) — China's crude oil imports will exceed 400 MMt this year, said an executive at a Chinese state oil giant on Tuesday, as continuing low oil prices and declining domestic output sparked increased overseas purchases.
ADNOC cuts Sept crude allocation to 2 buyers by 10%
SINGAPORE (Reuters) — Abu Dhabi National Oil Co (ADNOC) notified two term buyers in Asia that they will receive 10% less crude for September, two sources familiar with the matter said on Tuesday.
Chinese oil trader Unipec seeks closer ties with teapot refiners
BEIJING (Reuters) — State oil trader Unipec will develop "really strong" ties with China's independent refiners, said a company executive on Tuesday, even as they present a growing challenge to its parent and Asia's top refiner, Sinopec Corp.
- 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
