Asia/Pacific

China's teapot refiners face fresh test from crackdown on tax evasion

Refiners are required to pay consumption taxes both when they import feedstock such as fuel oil and also on the refined products they produce, but evasion is widespread.

India's ACME forms JV with Japan's IHI Corp for green ammonia project

India's ACME Group, in a joint venture with Japan's IHI Corp, will develop one of the country's largest green ammonia projects in the eastern state of Odisha.

Consortium receives AiP for floating ammonia cracker unit

Mitsui O.S.K. Lines, Ltd., HD Korea Shipbuilding & Offshore Engineering Co., Ltd. and HD Hyundai Heavy Industries Co., Ltd. announced that the Approval in Principle (AiP) was granted from Lloyd's Register for a floating ammonia cracker unit (FACU), jointly developed by the group for onshore hydrogen supply.

LNJ GreenPET, Sumitomo partner to accelerate recycled PET sector

EU may list independent Chinese refineries in new Russia sanctions package

The Commission may propose the new package as soon as Friday after an EU delegation returns from sanctions talks in Washington.

U.S. tariffs worsen petrochemical sector challenges, executives warn

Nikkiso unveils next-generation ammonia pump for a range of applications

Iraq in talks with ExxonMobil on Asian refining capacities

Iraq's state oil company SOMO is in advanced talks with ExxonMobil over a possible agreement to secure storage capacity in Singapore using tanks owned by the U.S. oil major, as well as refinery capacity deals.

TotalEnergies sees Brent-Dubai crude price gap remaining negative, making sweet grades more attractive to Asian refiners

The price gap between Brent and Dubai crude is expected to remain negative due to strong demand for heavier Middle Eastern oil, despite increasing supplies from OPEC nations

Chevron seeks diversified approach to refinery investments

"There'll be places like Korea where we go investment heavy in petrochemicals and in heavy oil upgrading."