Asia/Pacific
Vietnam's sole refinery plans to sell 5%–6% stake in IPO in Q4
HANOI (Reuters) — Vietnam's Dung Quat oil refinery plans to sell a 5%–6% stake in the company in the fourth quarter of 2017 via an initial public offering (IPO), it said in a statement.
Full tanks and tankers: a stubborn oil glut despite OPEC cuts
NEW YORK/LONDON/SINGAPORE (Reuters) -- After the first OPEC oil production cut in eight years took effect in January, oil traders from Houston to Singapore started emptying millions of barrels of crude from storage tanks.
Taiwan's Formosa Plastics Group says owners to reduce management role
TAIPEI (Reuters) -- Formosa Plastics Group said on Thursday it will set up a management center next month to allow the owners of one of Taiwan’s biggest conglomerates to reduce their role in the management.
Yidu Xingfa Chemical awards DuPont contract for sulfuric acid plant
WILMINGTON, Del. — Yidu Xingfa Chemical Co. Ltd. has awarded DuPont Clean Technologies contracts for the engineering and technology license for a 3,600 Mtpd MECS MAX3 sulfuric acid plant. This project will make the Xingfa sulfuric acid plant one of the largest in China.
Flotilla of US crude heads to Asia as OPEC weighs extending cuts
HOUSTON/NEW YORK (Reuters) -- Oil tankers carrying around 10 MMbbl of US crude are en route to Asia, according to shipping data and trade sources, as US producers take advantage of favorable prices to ship to the region while OPEC ponders further supply cuts next week.
China resumes light cycle oil imports amid tax uncertainty
SINGAPORE (Reuters) -- China has resumed imports of light cycle oil (LCO) after buyers cancelled shipments in April, as a planned Chinese consumption tax has not been announced, four industry sources said this week.
Unipec, Vitol set to supply Bangladesh with fuel in H2 2017
DHAKA/SINGAPORE (Reuters) -- Bangladesh Petroleum Corp has received offers from 11 companies for fuel supplies in the second half of the year, with Unipec and Vitol looking set to win the tender with the lowest offers on middle distillates and fuel oil, a BPC official said.
Iraq replaces Saudi as top oil supplier to India in April
NEW DELHI (Reuters) -- Iraq replaced Saudi Arabia as top crude supplier to India in April as refiners moved to boost their processing margins by purchasing the cheaper Basra Heavy oil grade, ship tracking and Thomson Reuters trade flow data showed.
Start-up of Vietnam's Nghi Son oil refinery delayed to 2018
SINGAPORE/HANOI (Reuters) -- The commercial start-up of Vietnam's new $7.5 B Nghi Son oil refinery will be delayed to 2018, from an initial expected start-up in the third quarter of this year, according to a notice on a government website.
Japan oil firms lift annual spending on refineries, cut exploration
TOKYO (Reuters) -- Some Japanese oil companies have raised their capital investment plans for the year that started on April 1, putting money into refineries and other downstream projects, while others have focused on cutting spending on exploration and production.
- 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
