Asia/Pacific
INPEX extends MoU with Persero for Abadi LNG project in Indonesia
INPEX has extended a MoU with PT Pertamina (Persero) (Pertamina) on a strategic collaboration to proactively pursue the implementation of the Abadi LNG Project in Masela Block in the Arafura Sea in Indonesia.
China's smaller independent refiners to curb output on rising oil prices
The so-called teapot refiners had benefited in recent months from cheap stocks of Russian and Iranian crude, but temporary U.S. waivers allowing purchases of Russian and Iranian oil stranded at sea for 30 days have driven prices for those barrels sharply higher as buyers, especially Indian refiners, rush to secure supply.
India diesel exports to SE Asia hit 7-yr high in March due to Iran war
The surge in exports could boost spot sale margins for Indian refiners who have purchased large volumes of prompt Russian crude to replace Middle East supply disrupted by the war.
South Korea to start crude oil swap with local refiners
The policy enables refiners to borrow crude oil from the national reserve and return the same volume once crude shipments secured abroad arrive.
South Korea's LG Chem to import Russian naphtha
The country's Industry Ministry had earlier confirmed the shipment, including its size, but did not disclose the importing company's name.
- Consortium launches study to create a consolidated hub for recycled plastics 5/22
- Eni strengthens its global LNG strategy with long-term supply agreements in Indonesia 5/22
- Breakthrough shows how electricity could replace heat to turn CO₂ into useful chemicals 5/22
- bp's Whiting Refinery offers revised proposal to union in ongoing talks 5/22
- Plains oil pipeline partly shut down after rupture in East Los Angeles (U.S.), could disrupt supplies to refineries 5/22
- Vitol moves to open Mexico fuel terminal years after bribery scandal 5/22
