Asia/Pacific
CERAWeek ’17: IEA expects global oil demand to rise, outpace supply after 2020
HOUSTON -- Global oil demand will continue to rise in the next five years, dominated by India and Asia, the International Energy Agency said Monday, March 6, during the first day of CERAWeek in Houston.
Asia fuel oil: Buyers re-emerge to narrow cash discounts, spreads sag
DUBAI (Reuters) -- Buyers of physical cargoes re-emerged in the Platts window on Monday helping narrow cash discounts of Asia's 380-cst fuel oil, but a prevalence of bearish sentiment in the paper markets weighed on near-dated time spreads of the fuel.
PetroChina Dalian refinery exports first Australian-spec diesel cargo
BEIJING (Reuters) -- PetroChina's Dalian oil refinery exported on Feb. 27 a 40,000 t cargo of diesel fuel with that met Australian fuel quality specifications, the first shipment of its kind from China, according to a statement posted on the website of the state assets regulator on Monday.
China's largest 'teapot' refiner, CEFC team up in Shandong oil terminal venture
BEIJING (Reuters) -- Dongming Petrochemical, China's largest independent or 'teapot' refiner, has signed a deal with privately run CEFC China Energy and a local port authority to build a crude oil terminal in Shandong province, seeking to ease a logistics bottleneck gripping the country's teapot oil sector.
Global Project Data
According to <i>Hydrocarbon Processing’s</i> Construction Boxscore Database, more than $400 B is being invested in active petrochemical projects around the world.
Industry Perspectives: Global petrochemical sector to see robust growth to 2020
The global petrochemical sector will continue to see strong growth through the end of the decade, despite a decrease in new project announcements. The crash in energy markets has shifted the industry’s mindset from bullish to optimistic.
Saudi Arabia may raise light crude price to Asia for third straight month in April
(Reuters) -- Top oil exporter Saudi Arabia could raise the price of Arab Light crude it sells to Asia in April for a third straight month after Middle East benchmark Dubai crude strengthened on OPEC cuts, four of seven respondents said in a Reuters survey of refiners and traders on Wednesday.
TOYO awarded FEED, EPC projects in Indonesia
Toyo Engineering Korea Limited, Korean subsidiary of Toyo Engineering group, has been awarded the Front End Engineering Design (FEED) Contract for a new polyethylene project of PT Chandra Asri Petrochemical Tbk (CAP).
China’s Sinopec to spend $29 B upgrading four refining bases
BEIJING (Reuters) -- China's Sinopec group, parent of Sinopec Corp, will invest $29.05 billion to upgrade four refining bases between 2016 and 2020 to produce higher-quality fuels, the company said in an emailed statement on Thursday.
Sinopec to start operating Zhanjiang commercial oil tanks; SPR site delayed
BEIJING (Reuters) -- Sinopec Corp is expected to start operating by June a new commercial crude oil tank farm in the southern Chinese city of Zhanjiang, where a large strategic reserve site is also under construction, three industry sources said this week.
- KBR to provide technology for mega-scale ammonia plant in Angola 11/25
- Indian refiners' October crude processing up over 3% y/y 11/25
- Air Liquide strengthens partnership with TotalEnergies through renewable H2 project in France 11/25
- Hexagon collaborates with Microsoft to enhance industrial operations 11/25
- China issues extra crude oil import quota to teapot refineries 11/25
- McDermott achieves ISO 50001 Certification for energy management at four fabrication yards 11/25
