Asia/Pacific
China’s crude import growth slows as refining inventories swell
Independent refineries in China have been ramping up their crude processing rates and boosting fuel sales as low global oil prices provide higher margins.
Total to broaden LNG cooperation with Korea Gas
The agreement is designed to jointly identify and pursue opportunities to develop the LNG market in Asia and in new importing countries, Total said in a statement.
Air Liquide to supply gases for petrochemical unit of China’s Sinopec
Expected to start operations in the second quarter of 2017, the new ASU will supply industrial gases including oxygen and nitrogen to the customer's new ethylene oxide plant as well as to its existing one.
Global chemicals output shows monthly growth
During February, chemical production rose in North America, Western Europe, and Asia-Pacific; was flat in Africa & the Middle East; and fell in Latin America and Central and Eastern Europe.
LyondellBasell acquires Indian polypropylene compounding assets
LyondellBasell entered into a definitive agreement to acquire Zylog's polypropylene (PP) compounding assets in November 2015, and the deal was formally completed on Thursday.
Asian refiners turn to Middle East’s heavy crudes over Latin America
Latin American crude sold to Asia fell 1% in the first three months of 2016 from a year ago, while Middle East exports to Asia rose 7% in the first quarter, according to new data.
Strong oil demand from China’s teapot refiners drives tanker jam
China's independent refiners, freed of government constraints after securing permission to import just last year, have gorged on plentiful low-cost crude in 2016. This has created delays for tankers that have quadrupled to between 20 to 30 days at Qingdao port in Shandong province.
China grants refiners additional fuel export quota
Gasoil makes up the bulk, or 39%, of the total volumes approved in the second round of export quotas at 5.71 million tons, followed by gasoline at 5.58 million tons.
India overhauls crude-import policy to give state refiners more leeway
The new policy puts state-owned refiners on a par with private firms such as Reliance Industries and Essar Oil that are not bound by government rules and can earn hefty refining margins.
Myanmar approves construction of $3B refinery
The Myanmar Investment Committee granted the Chinese firm Guangdong Zhenrong Energy approval to build a 100,000-bpd refinery in the southeast coastal city of Dawei.
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