Asia/Pacific
Montfort in talks with Sinopec for UAE fuel oil facility sale
Geneva-based trading house Montfort Group is in discussion to sell part or all of its refining facility in the UAE to the fuel oil arm of Chinese state giant Sinopec Corp.
Low volumes and profits herald soft Asia diesel market
Asia's exports of diesel slumped to a multi-year low in February, and while volumes may recover in March on rising shipments from China and India, it's likely prices will come under further downward pressure.
Thailand-based petrochemical company Indorama Ventures aims to sell assets, list businesses
Thailand-based petrochemical company Indorama Ventures plans to shift away from debt-funded acquisitions and list its businesses to fund growth organically.
Shrinking global palm oil supplies, strong biodiesel demand to boost prices
Stagnating global palm oil production and higher biodiesel mandates are likely to curb supplies of the world's most used vegetable oil this year, setting the stage for further gains in prices, which are trading at their highest in seven months.
Malaysian 2024 biofuel output could rise if B20 biodiesel usage expanded
Malaysia's biodiesel production could rise to 1.8 MMt in 2024 if the government expands its 20% biodiesel mandatory program to more areas in the country.
Copenhagen Infrastructure Partners announces investments and agreements with LOTTE Chemical Corporation
The memorandum of understanding between CIP and LOTTE is intended to support collaboration on clean ammonia projects.
Crude oil processing in China hit a record high in 2023
Crude oil processing, or refinery runs, in China averaged 14.8 MM bpd in 2023, an all-time high record processing, which came as the economy and refinery capacity grew in China following the country’s COVID-19 pandemic responses in 2022.
Indorama Ventures adapts business strategy amid global chemical industry structural changes
Indorama Ventures Public Company Limited, a global sustainable chemical producer, unveiled a significant evolution in its business strategy and outlined how major structural shifts are re-shaping the chemical industry, creating opportunities for the company to emerge stronger from the current downturn and benefit from its unique global model in the longer term.
MAN Energy Solutions to offer ammonia-fueled ship engines after 2027
MAN Energy Solutions plans to deliver later this year its first-ever engine fueled by ammonia for installation on a new vessel in Japan and will be ready to offer ammonia-powered engines to its clients after 2027.
IHI and ACME signed pact to supply green ammonia from India to Japan
ACME Group, a leading renewable energy company in India, and IHI Corporation, a Japanese integrated heavy industry group, signed an offtake term sheet for supply of green ammonia from Odisha, India to Japan.
- Haldia Petrochemicals awards ethylene plant digitalization contract to Lummus 5/2
- INEOS completes purchase of LyondellBasell's EO&D facility in Bayport, Texas (U.S.) 5/2
- HPLNG delays commissioning of Chhara LNG import terminal in India 5/2
- Shell records nearly $8-B Q1 profit on the back of refining, chemicals/products and LNG divisions 5/2
- Water treatment specialist SurfCleaner supplies Norwegian energy giant Equinor 5/2
- U.S. White House: Russia shipping fuel to North Korea above UN cap 5/2