Asia/Pacific
Perspectives on the 2012 energy industry
Here are several thoughts on how companies can adapt to—and profit from—the uncertain environment
Bharat Petroleum to expand Kochi refinery by end of 2015
India's second-largest state-run refiner and fuel retailer will raise the Kochi refinery's output by 120,000 bpd to 310,000 bpd, seeking to keep up with higher sales volumes.
Essar finishes Vadinar refinery expansion in India
Essar Oil on Friday announced the completion of the $1.81 billion expansion of its Vadinar refinery with the successful commissioning of the final delayed coker unit (DCU), which is amongst the world's largest. The expansion gives the Vadinar refinery the capability to process much heavier crude diet.
Westlake Chemical opens Singapore office amid globalization strategy
Westlake Chemical opened an office in Singapore this week, the US-based petrochemicals firm said, seeking to increase its global presence. The office will focus on nurturing existing and historical relationships and seeking new opportunities for growth and expansion in the region, according to Westlake.
Pakistan eyes Russian funding for Iran gas pipeline
Pakistan says it will seek Russian funding for a multi-billion dollar gas pipeline from Iran amid Chinese reluctance to invest in the project over fears it could be hit by sanctions. The Pakistan team will hold talks with relevant officials and different companies, including Russian gas giant Gazprom.
Airline industry executives call on governments to promote biofuels use
The global airline industry wants stronger government efforts to promote using biofuels, with new regulations and economic incentives for its production. Industry executives said the legislative framework, the still-high costs of biofuels and the availability of raw materials are the main challenges.
Foster Wheeler wins project management pact for Indonesia refinery upgrade
Foster Wheeler has been awarded a contract by PT Pertamina to provide project management consultancy services for the residue fluid catalytic cracker (RFCC) project at the Cilacap refinery in Indonesia. The value of the contract was not disclosed and was included in 2012 first-quarter bookings.
India crude imports up on refined product demand
India's crude oil imports in February rose 11% from a year earlier, boosted by strong demand for refined fuel products. The South Asian nation imported 14.87 million tons, or 3.76 million bpd, of crude last month, compared with 13.43 million tons, or 3.52 million bpd, a year earlier, the data showed.
Sinopec sees unprofitable downstream operations amid rising oil prices
Sinopec said its refining operations posted losses in January and February and that it expects the downstream operations to remain unprofitable if oil prices keep going up. Chairman Fu Chengyu told reporters the firm would accelerate the development of its natural gas business.
Formosa, Kraton venture eyes styrene copolymer plant in Taiwan
Kraton Performance Polymers is forming a 50-50 joint venture with Formosa Petrochemical to build and operate a 30,000 tpy hydrogenated styrenic block copolymer (HSBC) plant in Mailiao, Taiwan. Plant operation is expected in the first half of 2014, according to project officials.
- U.S. labor board judge rules Exxon's Texas refinery union lockout was legal 11/28
- U.S. crude stocks fall, gasoline and distillate inventories rise 11/28
- Maersk could use 15%–20% alternative fuels for its fleet in 2030 11/28
- Germany's BSW pushes to restore Russian oil to Schwedt refinery, seeks regional legitimacy 11/28
- Asia likely to benefit from cheaper Canadian, Mexican oil if Trump imposes tariffs 11/28
- Singapore distillates stocks tick up for fifth week 11/28
