Asia/Pacific
Malaysia begins diesel subsidy reforms, prices to rise by about 50% on Monday
Diesel fuel prices in much of Malaysia are set to rise by roughly 50% on Monday as the government begins shifting away from costly blanket subsidies to a targeted approach that mainly helps the needy.
India's May fuel use inches up on month on strong industrial activity
India's fuel consumption edged higher in May from the previous month, as strong industrial activity and general elections boosted fuel demand in Asia's third-largest economy.
China's May crude oil imports fall 8.7% on weak refining margins
China's crude oil imports fell 8.7% in May from a year earlier as refiners scaled back purchases amid heavy plant overhauls, subdued profit margins and weak demand for refined oil products.
DNV and Petronas CCS ventures collaborate to enable CCS value chains across SE Asia
DNV and PETRONAS’ wholly-owned subsidiary, PETRONAS CCS Ventures Sdn Bhd (PETRONAS CCS Ventures), have recently signed a Master Price Agreement for the certification of carbon dioxide (CO2) storage sites and associated facilities for carbon capture and storage (CCS) projects in Malaysia.
QatarEnergy enters into a 10-yr naphtha supply agreement with Japan's Idemitsu Kosan
QatarEnergy has entered into a long-term agreement to supply Idemitsu Kosan Co. Ltd with a total of up to 6 MMt of naphtha to be delivered to Japan over 10 yr starting in July 2024.
Singapore's middle distillates stocks edge up as net exports dip
Singapore's middle distillates stockpiles edged up 0.4% this week, tracking lower net exports of diesel/gasoil and jet fuel/kerosene and continuing imports from key regions such as China, India and Saudi Arabia.
Asia high-sulfur fuel oil market to take a breather in strong rally
A rally in Asia's high-sulfur fuel oil (HSFO) market, boosted by lower Middle East exports and OPEC+ cuts, is expected to take a breather as Russian exports remain elevated and will ease tight supply.
Taiwan's Formosa plans June run cuts due to weak refining margins
Due to weak margins, Taiwan's Formosa Petrochemical Corp plans to cut run rates at its crude distillation units by 40,000 barrels per day (bpd) to 440,000 bpd in June.
Stamicarbon awarded process design package for mega-scale urea plant in China
MAIRE announced that NEXTCHEM (Sustainable Technology Solutions), through its subsidiary Stamicarbon, has been selected by Qinghai Yuntianhua International Fertilizer Co., Ltd. to provide the process design package for the revamping of a dual-line urea plant in Qinghai Province, China, with a capacity of over 1,200 tpd each.
BASF to expand polyamide and polybutylene terephthalate capacities in India
BASF India Ltd. will increase the production capacity of its Ultramid® polyamide (PA) and Ultradur® polybutylene terephthalate (PBT) compounding plant in Panoli, Gujarat and Thane, Maharashtra, India.
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