Asia/Pacific
China's Unipec fights uphill battle to contain Middle East crude prices
The production cuts by OPEC+ may aim to keep crude prices high enough to satisfy the exporter group, but they are also starting to drive some unusual dynamics in the broader oil market.
Pertamina plans to start making bioethanol from sugarcane, cassava
Indonesian state energy company PT Pertamina plans to begin producing bioethanol from sugarcane and cassava this year, its CEO told a conference.
Malaysia's Petronas sees domestic oil, gas output peaking by 2024
Malaysia's state energy firm Petronas sees its domestic oil and gas production peaking at about 2 million barrels of oil equivalent per day (boepd) by 2024, its exploration executives said.
Maersk orders six methanol-powered container vessels
Shipping group A.P. Moller-Maersk said it had ordered from China's Yangzijiang Shipbuilding Group six mid-size container vessels capable of running on green methanol.
Indonesia plans to hike biodiesel mandate in next few years
Indonesia plans to raise its mandatory palm oil-based biodiesel blending to 40% in the next few years, but for now will keep it unchanged at 35%, the country's energy minister said.
Renewables growth did not dent fossil fuel dominance in 2022
Global energy demand rose 1% last year and record renewables growth did nothing to shift the dominance of fossil fuels, which still accounted for 82% of supply, the industry's Statistical Review of World Energy report said.
Ecopetrol sells crude to Asia at deeper discounts amid Russia competition
Colombia's Ecopetrol is managing to sustain sales to Asia at about 45% of its crude oil production though rivalry from Russian oil is forcing it to offer deeper discounts, a senior executive said.
SCG Chemicals expected to start production at Long Son plant by September
Long Son Petrochemicals, owned by SCG Chemicals, will start commercial production at its petrochemical complex in southern Vietnam in September, the head of Thai conglomerate Siam Cement Group said.
China refiners stoke petrochemical glut in market-share war
China is relentlessly adding new petrochemical capacity despite a global glut as the country's refiners diversify from transport fuels, threatening to depress margins worldwide through 2024 as weak economic growth saps demand.
Saudi Aramco sees 'sound' oil outlook for H2 on China, India demand
Saudi Aramco believes market fundamentals remain "sound" for the second half as demand from emerging markets led by China and India will offset recession risk in developed markets, CEO Amin Nasser told an industry gathering.
- 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
