Asia/Pacific
China oil buying frenzy cools as record inventory shields it from price rally
China, the world's top crude importer, is drawing on record inventories amassed earlier this year as refiners scale back purchases after OPEC+ supply cuts drove global prices above $80 a barrel, traders and analysts said.
Asia's refiners face profit crunch as Kuwait cuts crude exports
Asian refiners are on the hunt for crude oil to replace Kuwaiti supply as the OPEC producer cuts exports by nearly a fifth to feed its huge new refinery, which is driving up prices for other sour crudes and likely to squeeze profit margins.
China's July diesel exports surge amid strong margins, weak domestic recovery
China's exports of fuel products more than doubled in July from a year earlier, data showed, as refiners maintained high run rates and took advantage of strong export margins.
China makes rare draw on crude oil inventories as imports slip
China made a rare draw on crude oil inventories in July as imports softened and refinery processing remained elevated to meet rising domestic demand and a surge in refined fuel exports.
Braskem and SCG Chemicals join forces for bio-based ethylene project in Thailand
Braskem and SCG Chemicals have signed a joint venture agreement to create Braskem Siam Company Limited. This joint venture aims to produce bio-ethylene from bio-ethanol dehydration and to commercialize “I’m green” bio-based polyethylene, using the EtE EverG reen technology.
Oil rises as China seeks to soothe economic woes
Oil prices rose more than 1% after China's central bank sought to stem the rising tide of pessimism over the country's property market and wider economy.
EU to probe if Indonesia circumventing biodiesel import duties
The European Union said it had launched an investigation into whether Indonesia was circumventing EU duties on imports of biodiesel originating in the country by going through China and Britain.
Singapore's middle distillates stocks rise as imports from India emerge
Singapore's middle distillates inventories clawed back earlier weeks' of losses and rose on higher gasoil imports, with Indian-origin cargoes arriving for the first time in more than three months.
Malaysia's palm oil board, Petronas to study use of palm waste as aviation fuel
Malaysia's palm oil board and state oil firm Petronas have signed an agreement to study the use of used cooking oil and palm oil waste as sustainable aviation fuel.
Decarbonization group's biofuel bunkering trial finds 20% drop in emissions
The Global Center for Maritime Decarbonization found net carbon emissions fell 20% using a vegetable oil biofuel blend compared with very low sulfur fuel oil in a trial for a dual-fuel LPG carrier, the center said
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