Asia/Pacific
SK Innovation sees refining margins staying healthy in 2017
SEOUL (Reuters) -- Refining margins will stay firm in 2017, backed by limited additions to refined product supplies and solid demand growth, SK Innovation, which owns South Korea's top refiner, said on Friday.
Spike in maintenance expected to boost oil refining margins
ANTWERP (Reuters) -- Increased refinery maintenance in Asia and the Middle East is expected to boost profits for operators in other regions in the first half of this year, market watchers said on Wednesday.
SK Innovation buys Dow Chemical's ethylene acrylic acid unit for $370 MM
SEOUL (Reuters) -- South Korea's SK Innovation said on Thursday it would acquire Dow Chemical Co's ethylene acrylic acid (EAA) business for $370 million, a move that will expand its range of high value-added chemical products.
Oil prices fall after sharp rise in US stockpiles
SINGAPORE/TOKYO (Reuters) -- Oil prices fell on Thursday after official data showed US crude and gasoline stockpiles rose sharply, although signs that OPEC and other producers are holding the line on output cuts helped support prices.
S.Korea's S-Oil expects firm refining profits in 2017
SEOUL (Reuters) -- South Korea's S-Oil Corp expects healthy refining profits this year, buoyed by growing demand for oil products in places such as China and Southeast Asia.
Industry Metrics
European refinery margins weakened due to slower gasoline export opportunities, despite the colder weather.
Global Project Data
According to Hydrocarbon Processing’s Construction Boxscore Database, new project announcements have averaged 11 per month since mid-2016.
Business Trends: Anticipated market and pricing impacts from new marine fuel regulations
In October 2016, the International Maritime Organization (IMO) announced that it will implement a new regulation that calls for the sulfur content in marine fuels to be reduced from 3.5% to 0.5%. The new regulation will go into effect in January 2020. This action by the IMO will have a profound impact on the maritime and refining industries worldwide, as well as on the environment. This month’s Business Trends section provides an overview on the anticipated impacts of the IMO’s decision on petroleum product markets.
Industry Perspectives: Global desulfurization capacity to skyrocket over the long term
According to OPEC’s World Oil Outlook 2016, desulfurization capacity additions represent the largest capacity increases among all process units to 2040. This trend is due to increased regulations on the amount of sulfur allowed in transportation fuels.
Global: Is India ready for the BS-6 changeover?
India is the seventh-largest country in the world by land mass. Urbanization is taking place at a rapid pace: According to the country’s 2011 census, more than 377 MM Indians live in nearly 8,000 towns and cities. This count represents more than 31% of the country’s total population.
- 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
