Asia/Pacific
India sets up panel to quicken govt's stake sale in HPCL to ONGC
NEW DELHI (Reuters) — India has decided to set up a panel headed by Finance Minister Arun Jaitley to expedite the sale of government's stake in refiner Hindustan Petroleum Corp to explorer Oil and Natural Gas Corp, Oil Minister Dharmendra Pradhan said.
China June diesel exports rise on year ago
BEIJING (Reuters) — China's exports of diesel rose in June on a year ago as refiners turn to foreign markets to offload their excess product, while liquefied natural gas imports also rose, customs data showed on Sunday.
China unveils plans to expand, upgrade oil and gas pipelines
The National Development and Reform Commission (NDRC) and National Energy Administration (NEA) unveiled plans to expand and upgrade China’s oil and gas pipeline network over the next decade.
SCG to proceed with Vietnam petchem project investment
Vina SCG Chemicals Co., Ltd. (VSCG), wholly-owned subsidiary by SCG, has approved to proceed with the investment of the Long Son Petrochemicals Company Limited (LSP). LSP issued the Letter of Award to key contractors on July 14 and the final contract signing is expected to be in the second half of 2017. The estimated 4.5-yr construction of the complex is managed under the consolidated turnkey lump sum project format, with commercial operation expected by the first half of 2022.
India refiner HPCL sees more scope for foreign buys after ONGC deal
NEW DELHI (Reuters) — Indian state refiner Hindustan Petroleum Corp sees itself better placed to buy overseas downstream assets once it becomes part of the country's top explorer Oil and Natural Gas Corp, its chairman M. K. Surana said.
PetroChina unloading first Chinese purchase of oil from US strategic reserves
SINGAPORE (Reuters) — PetroChina is this week unloading the first Chinese purchase of crude oil from US strategic petroleum reserves at a port in eastern China, according to shipping data and two industry sources.
S.Korea easing rules at oil terminals in effort to become trade hub
SINGAPORE (Reuters) — South Korea is in the process of easing blending restrictions at its oil storage terminals as the world's No. 5 crude importer bolsters an effort to become a North Asia trading hub.
India allows ONGC to buy out government stake in refiner HPCL
NEW DELHI (Reuters) — India has approved explorer Oil and Natural Gas Corp's plan to buy its 51.1% stake in state-refiner Hindustan Petroleum Corp , a government source said on Wednesday, as New Delhi seeks to create a large integrated oil firm.
China drafts new rules easing state oil majors' grip on storage
BEIJING/SINGAPORE (Reuters) — Beijing on Wednesday issued a draft of new regulations for China's growing oil and fuel storage industry, helping loosen the state-owned oil majors' grip on the sector as the nation pushes to reform its vast energy markets.
Vietnam plans oil reserves equivalent of 90 days of imports by 2020
HANOI (Reuters) — Vietnam's prime minister has approved a plan for the country's total crude oil and oil product stocks to be at least 90 days' worth of net imports by 2020.
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