Asia/Pacific
Westlake Chemical opens Singapore office amid globalization strategy
Westlake Chemical opened an office in Singapore this week, the US-based petrochemicals firm said, seeking to increase its global presence. The office will focus on nurturing existing and historical relationships and seeking new opportunities for growth and expansion in the region, according to Westlake.
Pakistan eyes Russian funding for Iran gas pipeline
Pakistan says it will seek Russian funding for a multi-billion dollar gas pipeline from Iran amid Chinese reluctance to invest in the project over fears it could be hit by sanctions. The Pakistan team will hold talks with relevant officials and different companies, including Russian gas giant Gazprom.
Airline industry executives call on governments to promote biofuels use
The global airline industry wants stronger government efforts to promote using biofuels, with new regulations and economic incentives for its production. Industry executives said the legislative framework, the still-high costs of biofuels and the availability of raw materials are the main challenges.
Foster Wheeler wins project management pact for Indonesia refinery upgrade
Foster Wheeler has been awarded a contract by PT Pertamina to provide project management consultancy services for the residue fluid catalytic cracker (RFCC) project at the Cilacap refinery in Indonesia. The value of the contract was not disclosed and was included in 2012 first-quarter bookings.
India crude imports up on refined product demand
India's crude oil imports in February rose 11% from a year earlier, boosted by strong demand for refined fuel products. The South Asian nation imported 14.87 million tons, or 3.76 million bpd, of crude last month, compared with 13.43 million tons, or 3.52 million bpd, a year earlier, the data showed.
Sinopec sees unprofitable downstream operations amid rising oil prices
Sinopec said its refining operations posted losses in January and February and that it expects the downstream operations to remain unprofitable if oil prices keep going up. Chairman Fu Chengyu told reporters the firm would accelerate the development of its natural gas business.
Formosa, Kraton venture eyes styrene copolymer plant in Taiwan
Kraton Performance Polymers is forming a 50-50 joint venture with Formosa Petrochemical to build and operate a 30,000 tpy hydrogenated styrenic block copolymer (HSBC) plant in Mailiao, Taiwan. Plant operation is expected in the first half of 2014, according to project officials.
Celanese wins government approval for industrial ethanol plant in China
Celanese says it has received key government approvals necessary to proceed with plans to modify its existing integrated acetyl facility at the Nanjing Chemical Industrial Park to produce ethanol for industrial uses. The unit, expected to increase profits, is expected to start up in mid-2013.
India in talks to smoothen Iran crude oil supplies
India has shown no signs of giving in to US pressure to reduce its business dealings with Iran, with the government and a top trade body moving in quite the opposite direction. New Delhi is in talks with Iran to ensure uninterrupted crude oil supplies, as well as to smoothen settlement of payments.
Global refining catalyst market driven by growth in hydroprocessing
The market improvement is led by demand for cleaner fuels, increasing use of heavier and dirtier feedstocks and additions to refining capacity, a new study says.
- Argentina raises biofuel prices for domestic market 7/14
- Technip Energies' develops low-emission furnace design to reduce the carbon footprint of ethylene production 7/14
- Biofuel demand to soak up more than half of U.S. soyoil production next year, USDA says 7/14
- Russia's June seaborne oil product exports down 3.4% m/m 7/14
- Serbia seeks fifth U.S. sanctions waiver for Russian-owned oil firm NIS 7/14
- EIA: U.S. hydrocarbon production supported by export growth in long-term projections 7/14
