Asia/Pacific
China's crude oil processing runs in October rise to 2nd highest on record
BEIJING (Reuters) — China’s refiners raised crude oil processing runs to near record monthly levels in October as refining margins jumped after the country’s state planner hiked prices for gasoline and diesel at the pump.
Unipec, Vitol place lowest offers in Bangladesh oil import tender
SINGAPORE/DHAKA (Reuters) — Oil traders Unipec and Vitol placed the lowest offers in a tender by Bangladesh Petroleum Corp to buy up to 1.27 MMt of oil products for import in the first half of 2018, three industry sources said on Tuesday.
IEA: Warmer weather may tilt oil market into surplus as demand slows
LONDON (Reuters) — Global oil demand growth looks likely to increase more slowly over the coming months, as warmer temperatures cut consumption, which may tilt the market back into surplus in the first half of next year, the International Energy Agency said on Tuesday.
Japanese oil refiner profits rise as they max out runs to cash in on high margins
TOKYO (Reuters) — Profits for Japanese oil refiners rose for the latest reporting period as they pushed their plants at the highest rates in 46 yr amid high margins and after a government mandated industry consolidation.
China CNPC completes domestic pipeline to receive more Russian oil
(Reuters) — China National Petroleum Corp completed the last welding of a 941.8-km pipeline in northeast China, ready to start taking Russian oil from Jan. 1, the state energy group said late on Sunday.
Shell sells out of Woodside Petroleum for $2.7 B
LONDON/SYDNEY (Reuters) — Royal Dutch Shell on Monday sold its entire stake in Australia's largest independent oil and gas company Woodside Petroleum Ltd for $2.7 B as it pushes ahead with its vast disposal program.
S.Korea's Hanwha Total to raise LPG use in cracker after expansion
PENANG (Reuters) — South Korea’s Hanwha Total Petrochemical will use at least four times more LPG feedstock when it completes raising its cracker capacity by 30% to 1.4 MMtpy in 2019, said a top executive.
Asian floating oil storage declines as crude market tightens
SINGAPORE (Reuters) — The amount of oil stored on tankers around Singapore has dropped sharply in the last months, the latest indication that OPEC-led supply cuts are successfully tightening crude markets even as US exports have soared.
China's CEFC, Rosneft to study South China petchem complex
BEIJING/MOSCOW (Reuters) — Private conglomerate CEFC China Energy and Russia's largest oil producer Rosneft have agreed to study the possibility of building a petrochemical complex in South China, Rosneft said on Friday.
China Energy Investment signs MOU for $83.7 B in West Virginia projects
BEIJING (Reuters) — China Energy Investment Corp, the world's largest power company by asset value, has signed a memorandum of understanding (MOU) to invest $83.7 B in shale gas, power and chemical projects in West Virginia, the US state said on Thursday.
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- Russia's Lukoil restoring cracker at NORSI refinery, gasoline output rising 11/22
- Nigeria's local currency crude sales fall short of target, Dangote refinery says 11/22
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- Clean Hydrogen Works awards McDermott FEED contract for Ascension Clean Energy (ACE) project 11/21
