Asia/Pacific
China’s private refiners eat into oil glut, but Asian fuel surplus looms
State refiners have already been exporting fuels at record amounts, but a lack of export infrastructure is hampering teapots' efforts despite winning government export permits.
Commodity slump pressures Japanese oil refiners
Oil refiners including JX Holdings and Idemitsu Kosan are expected to post over 500 billion yen in inventory losses in the year to March, according to Reuters calculations.
Global fuel demand growth slows as 2016 begins
The US transportation sector continues to send mixed signals about the strength of fuel demand at the end of 2015 and heading into 2016.
China’s teapot refiners to change dynamics of crude supply, trading
There is little doubt that the granting of increased quotas to smaller, private refineries will increase the amount of crude bought by the world's second-largest importer. But what is less certain is exactly how these new entrants will go about sourcing and delivering the crude they will be able to purchase.
Total to supply US LNG to Indonesia’s Pertamina
Under the terms of the deal, which start in 2020 and last 15 years, Total will purchase from 2020 around 400,000 tpy of Pertamina's LNG from Corpus Christi LNG, currently under construction in the US.
Industry Metrics
US product markets weakened despite unseasonably strong gasoline demand, and the gasoil crack spread hit the lowest level seen in more than five years, under pressure from increasing supplies amid thin demand due to warmer winter weather.
Korean refiner S-Oil sees healthy margins in 2016 as demand tops capacity
Refining margins in 2016 will stay healthy as global incremental oil demand will outpace new refining capacity additions during the year, S-Oil, the country's third-largest refiner, said in the statement.
Asian fuel oil market challenged as refiners switch to crude as feedstock
The economic slowdown will add to an expected plunge in fuel oil demand as the majority of China's independent refiners, known as teapots, turn to crude oil instead of fuel oil as their primary feedstock for making fuels such as gasoline and diesel.
Pakistan to pay rising cost for gasoline imports
The offers for the 87-octane grade gasoline were at least 24% higher than Pakistan State Oil paid for a total of 450,000 tons of gasoline for December to January delivery.
Air Products launches new ASU project at Chinese coal-to-chemicals plant
The project, capable of producing 12,000 tpd of oxygen and significant tonnage volumes of nitrogen and compressed dry air for the customer's coal chemical plant, represents one of the largest single on-site ASU orders ever committed to an industrial gas company.
- Brazil's Petrobras to invest $4.8 B in integration between Reduc refinery and Boaventura complex 7/8
- Braskem completes first sale of circular polyethylene in South America 7/8
- bp's 440,000-bpd refinery in Whiting, Indiana (U.S.), reported flaring due to operational conditions 7/8
- UK's insolvent Lindsey oil refinery secures some crude supply to keep running for now 7/8
- Brazil's energy minister hints at possible fuel price cuts 7/8
- Marathon Galveston Bay refinery (U.S.) hydrotreater to remain shut until September 7/8
