Asia/Pacific
Sumitomo Corporation, “K” LINE and NYK Line conclude MoU for new build ammonia bunkering vessel operation in Singapore
Sumitomo Corporation, Kawasaki Kisen Kaisha and NYK Bulkship (Asia) Pte. Ltd. (NYK Line) have entered into a MoU to jointly conduct a FEED study and explore the ownership of a new-build ammonia bunkering vessel for application in Singapore.
Top global refiner Sinopec to cut crude runs by over 10% on Mideast supply squeeze
The cuts by state-owned Sinopec, which accounts for a third of China's refinery output, are part of Beijing's widening measures to curb oil supply disruptions due to Iran's blockage of the Strait of Hormuz, a conduit for 20% of the world's oil.
Japan to consider whether to buy Russian crude following U.S. sanctions waiver
The U.S. waiver allows countries to buy sanctioned Russian oil and petroleum products currently stranded at sea, in what Treasury Secretary Scott Bessent said was a step to stabilize global energy markets, which have been roiled by the Iran war.
Australia releases petrol and diesel from emergency reserves
Energy Minister Chris Bowen said the move to allow the release of up to 20% of the baseline minimum stockholding obligation is equivalent to up to 762 MM liters (l) of petrol and diesel.
- 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
