Crude oil

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China's ethylene capacity to hit 100 million tons by end-2028

China will add 40 million metric tons of ethylene capacity between 2025 and 2028, taking total capacity for the key plastic industry building block to 100 million tons by the end of the period, a Sinopec executive said on Thursday.

Vietnam's Binh Son Refining and Petrochemical buys 1 MMbbls of oil from the U.S.

Vietnam's Binh Son Refining and Petrochemical has bought 1 MMbbls of U.S. West Texas Intermediate crude for November delivery, the country's first U.S. oil purchase in 2025.

South Korea to announce plan to restructure petrochemical sector facing 'grave' situation

South Korea's government will announce a plan this month to restructure the country's petrochemical sector, which is in a "grave" situation, Industry Minister Kim Jung-kwan said.

U.S. crude oil and distillate inventories rise, gasoline stockpiles fall

U.S. crude inventories unexpectedly rose as imports increased, while gasoline stockpiles fell last week, the Energy Information Administration said.

China's petrochemical sector set to expand even as losses deepen

A key segment of China's petrochemical sector is set to expand by almost half between now and 2028 even as growing competition in the broader refining sector slashes profits.

Citgo Petroleum returned to profit in the second quarter

Venezuela-owned U.S. refiner Citgo Petroleum registered net income of $100 million in the second quarter vs. a $25 million loss in the same quarter last year, finishing the period with liquidity of $2.6 billion.

India's Reliance makes rare fuel oil purchase from HPCL

Reliance Industries has in recent weeks made rare fuel oil purchases from state-run Hindustan Petroleum Corp. The purchases suggest the operator of the world's largest refining complex is diversifying its fuel oil sources as India comes under heavy pressure from the U.S. over its energy ties with Russia.

Japan's Eneos shuts 77,000-bpd Kawasaki No.3 CDU for maintenance

Japan's biggest refiner, Eneos Corp, has shut the 77,000 barrel-per-day No. 3 crude distillation unit at its Kawasaki refinery, near Tokyo, on August 9 for scheduled maintenance

VINCI wins major contract for innovative biofuels plant in Spain

Moeve and Apical have awarded Grupo Cobra and Masa - both subsidiaries of Cobra IS – the electrical, piping and industrial mechanical works of the largest second-generation biofuels plant in Spain.