Asia/Pacific
Govt.-backed Chinese refiner seeks oil import quota after restructuring
Jincheng Petrochemical, a newly restructured independent refiner controlled by the Liaoning provincial government in northeastern China, is seeking crude oil import quotas for its three plants.
HIF Global secures nearly $165-MM in investments to develop eFuels
HIF Global announced a combined investment from existing shareholders and the Japanese energy company Idemitsu Kosan, securing $164 MM to fund its eFuels projects.
Ethylene downcycle puts nearly 25% of capacity at risk of closure
A series of unprecedented challenges to the global ethylene industry means that as much as 24% of global capacity is now under some threat of permanent closure according to new research by Wood Mackenzie.
ADNOC delivers first bulk shipment of CCS-enabled, low-carbon ammonia to Japan
ADNOC has delivered the world’s first certified bulk commercial shipment of low-carbon ammonia enabled by carbon capture and storage to Mitsui & Co., Ltd. for use in clean-power generation in Japan.
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.
- Pakistan-China to sign MoU on oil-to-chemicals complex in June 5/17
- China biofuel makers bet on sustainable aviation fuel 5/17
- AMETEK Land provides thermal imagers to large ethylene producer 5/17
- China's refinery output falls for first time in 20 mos due to maintenance 5/17
- Dow, SCG Chemicals sign MoU to transform 200,000 tpy of plastic waste into circular products 5/17
- Ukraine long-range attacks continue to disrupt Russian refining, energy operations 5/17
