Asia/Pacific

China's teapots boost Russian ESPO buying amid record discounts

Discounts for Russian ESPO Blend crude loading in January have widened to a record $7–$8 per barrel versus ICE Brent upon delivery in Chinese ports, as Western sanctions pressure weighs on the grade.

Bahrain's BAPCO sends first diesel cargo to Australia in 2.5 yrs

Around 400,000 bbl of diesel were loaded on the Torm Kirsten during December 9–11 from BAPCO's Sitra refining site, Kpler and Vortexa shiptracking data showed, while 140,000 bbl more were loaded via ship-to-ship transfers with the vessel Zonda.

Asia oil floating storage seen declining on lower exports, China buying

The volume of oil stored on board ships in Asian waters, which has tripled since September to a 3-yr high, is poised to decline as producers of sanctioned oil slow exports and Chinese refiners ramp up buying.

South Korea petrochemical firms on track to cut up to 3.7 MM tons of output

China's November fuel oil imports up 15% from October

The import volumes totaled 2.15 million metric tons (t), or about 454,957 barrels per day (bpd).

India's Chennai Petroleum Corp to raise capacity at key Manali refinery

The company is a subsidiary of the country's top refiner, the state-run Indian Oil Corp., and sells almost all of its transportation fuels - diesel and gasoline - to its parent, which has a robust local retail network.

Kumho Mitsui Chemicals to increase capacity of MDI production facilities

Technip Energies awarded detailed engineering contract for Thailand’s first CCS project

China oil demand to plateau between 2025 and 2030

Apparent consumption of oil is expected to reach 760 MMt in 2025, up 0.9% on the year, he added, but demand is set to stabilize next year and stay above 700 MMt until 2030.

India imports more Russian crude, but mix of buyers shifts

While the South Asian nation's appetite for Russian crude has not been diminished by the U.S. sanctions against top Russian producers Lukoil and Rosneft, what has changed is the mix of buyers.