Asia/Pacific
Japan's Idemitsu books 41-B ($263-MM) yen loss on Vietnam's refinery in 2023/24
Japanese oil refiner Idemitsu Kosan said on Tuesday it booked a 41.1-B yen ($263 MM) provision for bad debt related to the Nghi Son Refinery and Petrochemical in Vietnam for the year ended March 31 due to heavy costs from rising U.S. interest rates.
Weak Asia refining margins see swing to crude from the Americas
The profit from turning a barrel of crude oil into fuels in Asia is at the lowest in seven months, which is leading refiners to turn away from expensive Middle East grades and seek cheaper alternatives from the Americas.
Kuwait Petroleum renews oil supply deal to Unipec
Kuwait Petroleum Corp has renewed its contract to supply 300,000 bpd of crude oil to China's Unipec, the trading arm of Asia's largest refiner Sinopec, until 2033.
Russia's refined oil product exports to Singapore to hit highest this year in May
Russia's exports of naphtha to Singapore are on track to rise to their highest level this year in May as Russian refineries recover from drone attacks, with the trend poised to continue as more capacity comes online.
Shipping major and GCMD to pilot FAME-VLSFO marine biofuel bunker fuel in Singapore
a Japanese shipping major and the Singapore-based Global Centre for Maritime Decarbonization will launch a six-month project for trialing marine biofuel for bunkering, consisting of 24% fatty acid methyl esters (FAME) and very-low-sulfur fuel oil (VLSFO) onboard a short-sea vehicle carrier that will call at multiple ports.
Diesel profit margins decline amid lower demand, more capacity
Profit margins for diesel are slumping as new refineries boost supplies and as mild weather in the northern hemisphere and slow economic activity eat into demand, putting oil prices under further downward pressure.
Analysis: Chandra Asri purchase of Shell Singapore refinery brings scale, risk
While Chandra Asra's deal to buy Shell's Singapore refinery will see it join the ranks of Southeast Asia's largest petrochemicals players, it is taking on the risk of running an aging facility in a highly competitive sector.
Analysis: Shell's Singapore refinery sale and its market significance
Oil giant Shell has agreed to sell its Bukom refinery in Singapore—one of the world's largest oil refining and trading centers—to a joint venture of Indonesian chemicals firm PT Chandra Asri and global trading house Glencore, culminating a process that began last year.
Heavy oil shortages are driving up refiners' cost
Mexican export cuts and a rerouting of Canadian output are shrinking already limited supplies of heavy crude in the Atlantic basin, driving up refiners' costs with a likely knock-on effect to industries ranging from shipping and construction to Middle Eastern power plants.
Shell in talks to sell Malaysia fuel stations to Saudi Aramco
Shell is in talks with Saudi Arabia's state-owned Saudi Aramco to sell its gas station business in Malaysia, a deal that could be worth up to $1 B.
- Vioneo awards Lummus polypropylene contract for world's first industrial scale fossil-free plastics from green methanol facility 8/19
- Research: Developing an energy-saving, carbon-capturing method for making ethylene glycol 8/19
- Emerson announced the release of its new Rosemount 3144S temperature transmitter 8/19
- Chinese refiners sweep up Russian oil after Indian demand falls 8/19
- Indonesia plans quick-to-build oil refineries for U.S. crude 8/19
- Russia's ultra low-sulfur diesel exports from Primorsk scheduled to rise in August 8/19
