Asia/Pacific
Singapore refinery profits at two-year low as naphtha joins glut
Singapore's oil refining profits dropped to two-year lows, in the latest sign that the industry is pumping out too much fuel for the market to absorb.
ExxonMobil urges end to PNG LNG royalty dispute amid protest
ExxonMobil Corp. urged a quick resolution to a dispute between the government of Papua New Guinea and disgruntled landowners, following a protest at its $19 B PNG LNG project over royalty disagreements.
Essar Oil’s Vadinar refinery recognized as “Refinery of the Year” by PetroFed
Essar Oil’s 20 MMtpy Vadinar refinery received the coveted “Refinery of the Year’’ award by Petroleum Federation of India.
BP seeks buyers for its half of China petrochemical venture
British oil major BP is seeking buyers for its 50% stake in Chinese petrochemicals joint venture SECCO, its largest investment in China.
Idemitsu family issues fresh call for management to end Showa Shell merger
The founding family of Japan's Idemitsu Kosan Co. Ltd. has made a fresh call on management to give up its plan to merge with rival oil refiner Showa Shell Sekiyu KK.
China fuel exports hit record in July, crude imports up 1.2%
China's fuel exports rose to a record in July as easing demand growth and a surplus in refined oil products pushed refiners to increase shipments to overseas buyers.
Essar Oil to upgrade Vadinar refinery
Essar Oil Ltd.’s 20 MMtpy Vadinar refinery is looking at earning an additional $1.50/bbl crude on its Gross Refinery Margin.
Trafigura extends credit to China teapots to boost crude sales
Trafigura has extended the credit period for two independent Chinese refiners to buy crude, marking a more aggressive push by the global commodity trader to feed the growing appetite of so-called "teapot" refiners to import oil.
Idemitsu, Showa Shell chiefs met to confirm merger plan
Idemitsu is considering acquiring a smaller stake in Showa Shell than planned to counter efforts by its founding family to block a merger of the two oil refiners.
Wison Engineering awarded new EPC contracts by Connel Chemical for MTO project
Wison Engineering has been awarded an EPC contract for a 300kta methanol-to-olefins unit, the first phase of Connel Chemical Industry Ltd.’s 600kta MTO plant.
- Update: Russian oil supplies to Slovakia may resume as soon as today 8/25
- Indonesia urges EU to remove biodiesel import curbs after WTO ruling 8/25
- Liquid Sun launches eSAF production pilot with ABB, Finnair, Fortum and Finavia 8/25
- Novatek to reduce naphtha exports due to fire at Ust-Luga complex 8/25
- China's Sinochem to sell two bankrupt refineries to local operators 8/25
- Iraq raises refining capacity to 1.3 MMbpd 8/25
