Asia/Pacific
China's CNCEC to build 300,000-bpd Al-Faw refinery in Iraq
China's National Chemical Engineering Company (CNCEC) has inked a deal with the Southern Refineries Company to build a 300,000-bpd refinery in Al-Faw, Iraq.
Itochu to buy green ammonia from HIVE's $5.9-B Coega facility
A division of Hive Energy Ltd. announced that a consortium led by Japanese trading giant Itochu Corp. is on the verge of finalizing an agreement to purchase environmentally friendly ammonia from a project located in South Africa.
Govt.-backed Chinese refiner seeks oil import quota after restructuring
Jincheng Petrochemical, a newly restructured independent refiner controlled by the Liaoning provincial government in northeastern China, is seeking crude oil import quotas for its three plants.
HIF Global secures nearly $165-MM in investments to develop eFuels
HIF Global announced a combined investment from existing shareholders and the Japanese energy company Idemitsu Kosan, securing $164 MM to fund its eFuels projects.
Ethylene downcycle puts nearly 25% of capacity at risk of closure
A series of unprecedented challenges to the global ethylene industry means that as much as 24% of global capacity is now under some threat of permanent closure according to new research by Wood Mackenzie.
ADNOC delivers first bulk shipment of CCS-enabled, low-carbon ammonia to Japan
ADNOC has delivered the world’s first certified bulk commercial shipment of low-carbon ammonia enabled by carbon capture and storage to Mitsui & Co., Ltd. for use in clean-power generation in Japan.
Japan's Idemitsu books 41-B ($263-MM) yen loss on Vietnam's refinery in 2023/24
Japanese oil refiner Idemitsu Kosan said on Tuesday it booked a 41.1-B yen ($263 MM) provision for bad debt related to the Nghi Son Refinery and Petrochemical in Vietnam for the year ended March 31 due to heavy costs from rising U.S. interest rates.
Weak Asia refining margins see swing to crude from the Americas
The profit from turning a barrel of crude oil into fuels in Asia is at the lowest in seven months, which is leading refiners to turn away from expensive Middle East grades and seek cheaper alternatives from the Americas.
Kuwait Petroleum renews oil supply deal to Unipec
Kuwait Petroleum Corp has renewed its contract to supply 300,000 bpd of crude oil to China's Unipec, the trading arm of Asia's largest refiner Sinopec, until 2033.
Russia's refined oil product exports to Singapore to hit highest this year in May
Russia's exports of naphtha to Singapore are on track to rise to their highest level this year in May as Russian refineries recover from drone attacks, with the trend poised to continue as more capacity comes online.
- ExxonMobil plans 1 Blbs/yr of advanced recycling by 2027 11/22
- Gauging the likely Trump effect on U.S. energy and power sectors 11/22
- Russia's Lukoil restoring cracker at NORSI refinery, gasoline output rising 11/22
- Nigeria's local currency crude sales fall short of target, Dangote refinery says 11/22
- U.S. October gasoline imports hit post-pandemic low on slump in European shipments 11/22
- Clean Hydrogen Works awards McDermott FEED contract for Ascension Clean Energy (ACE) project 11/21
