Asia/Pacific
Chinese state oil giants take petrol price battle to the pumps
LULIANG, China (Reuters) — Chinese state oil giants Sinopec and PetroChina are waging war at the nation's gas pumps, slashing prices at unprecedented rates in an effort to reclaim sales lost to private local and foreign rivals in the $440 B retail fuel market.
Propane dehydrogenation plant in Korea reaches record production rate
CB&I and SK Advanced Co. Ltd. are celebrating the record production rates and outstanding operation of a propane dehydrogenation (PDH) plant in Seoul, South Korea.
China's 2017 crude oil quotas exceed last year's, teapots take a cut
BEIJING/SINGAPORE (Reuters) — China last week issued a second batch of crude oil import quotas under the so-called "non-state trade" that is higher than for all of the allowances in 2016, but allotments to independent refineries were lower than a year earlier.
Grace licenses process technology to Hengli petchem refinery
COLUMBIA, Md. — W. R. Grace & Co., a supplier of polyolefin catalyst technology and polypropylene (PP) process technology, contracted to license its UNIPOL PP process technology to Hengli Petrochemical Refinery Co. Ltd., a subsidiary of Hengli Group.
Mercuria, PetroChina selling fuel oil stored offshore Singapore, Malaysia
SINGAPORE (Reuters) — Independent trading house Mercuria and Chinese state oil giant PetroChina are selling fuel oil stored in vessels off Singapore and southern Malaysia on strong demand from the shipping and power sector, several trade sources said on Friday.
In latest sign of crude glut, ageing supertankers used to store unsold oil
SINGAPORE (Reuters) — Traders are increasingly storing oil in ageing supertankers in Southeast Asia as they grapple with a supply overhang that has left the system clogged with unneeded fuel despite an OPEC-led drive to cut production to prop up prices.
India's 2017 diesel imports may rise to highest since at least 2011
SINGAPORE (Reuters) — India's diesel imports this year may rise to the highest since at least 2011 as refiners shut down to upgrade their units to meet new fuel standards and as warmer temperatures spur demand, said five industry sources.
Chinese traders ship jet fuel from Singapore to Europe
SINGAPORE (Reuters) — Chinese traders are shipping jet fuel from Singapore to Europe even as domestic demand in China is set to strengthen during summer season air travel, industry sources said.
S.Korea's May Iranian crude oil imports fall to 8-mth low
SEOUL (Reuters) — South Korea's Iranian crude oil imports dropped in May to their lowest in eight months as refiners bought less of the Middle Eastern nation's condensate, while Tehran struggled to maintain shipment volumes after exhausting stocks stored on tankers.
India's oil imports from Iran plunge over gas field row
NEW DELHI (Reuters) — India's oil imports from Iran have fallen to their lowest since June 2016, shipping data shows, in possible retaliation for Tehran not awarding a gas field development to Indian companies.
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