Asia/Pacific

PetroChina to phase out 19 old refining, chemical units to curb sector glut

The world's second-largest oil consumer is facing a faster-than-expected peak in fuel demand due to rapid electrification of its transportation fleet and a petrochemical sector that is plagued by excess capacity and poor margins.

Avantium’s plant-based plastic PEF Releaf® receives CPBR approval for recycling in Japan

BLYB successfully uses refinery ethane as a stable feedstock in the complex's ethylene cracking unit

Neste celebrates 15 yrs of refining in Singapore and 60 yrs in Porvoo

Sinopec in talks to buy China's leading jet fuel distributor

Ship carrying Russian naphtha to India in limbo after U.S. sanctions

Following new Ukraine-related U.S. sanctions on Russia last week, Indian refiners said they were ready to sharply curtail Russian oil imports, as New Delhi already faces punishing 50% tariffs on its exports to the United States.

Russia-backed sanctioned Indian refiner boosts crude runs to 90%

Oil processing at Nayara's 400,000-bpd western India plant dropped to 70%–80% after the EU sanctioned it in July, denting its exports and leading suppliers such as Iraq and Saudi Arabia to halt crude sales to the company.

Diesel rally sparked by Western sanctions on Russia will be short-lived

A new wave of Western sanctions on Russia’s oil industry has roiled the diesel market, sending refining margins soaring, but global supplies are unlikely to be severely disrupted for long.

China aims to tackle over-capacity in some plastic and fiber petrochemicals

Asia refining margins soar as sanctions threaten Russian supplies

The strength has mainly been driven by the global diesel market, which has staged an upward swing in recent weeks on robust demand and tighter supply prospects.