Asia/Pacific
Japan to lower gasoline prices and implement energy subsidies
Japanese Prime Minister Shigeru Ishiba said the government will slash gasoline prices by 10 yen ($0.0713) per liter from May 22 as part of measures to curb rising energy prices.
South Korea to implement smaller fuel tax cuts from May
Tax breaks will be extended until the end of June, with the rate adjusted to 10% for gasoline, from the current 15%, and that for diesel and liquefied petroleum gas butane to 15% from 23%.
First Japanese-developed and manufactured ammonia-fueled, two-stroke engine for maritime industry
Japan Engine Corp. (J-ENG) is developing a large, low-speed, ammonia-fueled, two-stroke engine under the “Green Innovation Fund Project: Next-generation Ship Development” of the New Energy and Industrial Technology Development Organization (NEDO).
India's Reliance imported 17.3% more Russian oil in March vs. Feb.
India's Reliance Industries, operator of the world's biggest refining complex, imported about 532,700 bpd of Russian oil in March, up 17.3% from February.
India, Saudi Arabia exploring joint refinery, petrochemical projects
India and Saudi Arabia are exploring joint projects in refineries and petrochemicals, Indian Prime Minister Narendra Modi told Arab News in an interview.
BASF completes divestment of shares in its two joint ventures in Korla, China
BASF has divested its shares in the joint venture companies, BASF Markor Chemical Manufacturing (Xinjiang) Co. Ltd. and Markor Meiou Chemical (Xinjiang) Co. Ltd. in Korla, China, to Verde Chemical Singapore Pte. Ltd.
Egypt begins basic design phase for Red Sea Petrochemical Complex project in Ain Sokhna
Egypt's Ministry of Petroleum and Mineral Resources announced the signing of contracts for the Egyptian-Chinese joint venture contractor to implement the basic designs for the first phase of the Red Sea Petrochemical Complex project in Ain Sokhna, Egypt.
China-U.S. trade war redrawing global LPG trading, outlook
The global liquefied petroleum gas (LPG) market is facing an upheaval as high tariffs on U.S. imports force Chinese buyers to swap American cargoes for alternatives from the Middle East, while U.S. shipments divert to Europe and elsewhere in Asia.
JGC, Amogy partner to accelerate large-scale ammonia cracking technology
JGC has signed a Memorandum of Understanding (MoU) with Amogy to utilize Amogy's catalyst for large-scale ammonia cracking technology development.
Indonesia ships 2.02 MMt of crude, refined palm oil in March
Indonesia exported 2.02 MM tonnes (t) of crude and refined palm oil in March, down slightly from the previous month's 2.06 MMt.
- ITT to acquire SPX Flow for > $4.77 B, expanding leadership in highly engineered components and adjacent flow technologies 12/5
- MOL Group introduces eco-friendly Bag-in-Box packaging for lubricants 12/5
- Addis Energy secures $8.3 MM to scale its transformative approach to low-cost ammonia production 12/5
- World Fuel Services supplies cruise line with waste-based biofuels 12/5
- Chevron announced $18 B-$19-B CAPEX budget for 2026 12/5
- Russia and India sign deal to build urea plant in Russia 12/5
