Asia/Pacific
Venezuela's PDVSA to tap oil customers to pay $449 MM to ONGC
NEW DELHI (Reuters) — Venezuela's national oil company PDVSA will use existing crude oil customers or new Indian state buyers as intermediaries to settle $449 MM owed to India's ONGC Videsh Ltd, the Indian company said in a statement on Wednesday.
S.Korea's Oct crude oil imports from Iran down 9.5% on-month
SEOUL (Reuters) — South Korea's imports of Iranian crude oil fell 9.5% in October from the previous month as the Middle Eastern country cut crude and condensate exports to Asia due to production setbacks.
CB&I awarded residue upgrading technology contract in India
THE WOODLANDS, Texas — CB&I announced it has been selected by Indian Oil Corporation Limited (IOCL) for the license, engineering design and catalyst supply for a residue upgrading unit in Mathura, India.
China's crude oil processing runs in October rise to 2nd highest on record
BEIJING (Reuters) — China’s refiners raised crude oil processing runs to near record monthly levels in October as refining margins jumped after the country’s state planner hiked prices for gasoline and diesel at the pump.
Unipec, Vitol place lowest offers in Bangladesh oil import tender
SINGAPORE/DHAKA (Reuters) — Oil traders Unipec and Vitol placed the lowest offers in a tender by Bangladesh Petroleum Corp to buy up to 1.27 MMt of oil products for import in the first half of 2018, three industry sources said on Tuesday.
IEA: Warmer weather may tilt oil market into surplus as demand slows
LONDON (Reuters) — Global oil demand growth looks likely to increase more slowly over the coming months, as warmer temperatures cut consumption, which may tilt the market back into surplus in the first half of next year, the International Energy Agency said on Tuesday.
Japanese oil refiner profits rise as they max out runs to cash in on high margins
TOKYO (Reuters) — Profits for Japanese oil refiners rose for the latest reporting period as they pushed their plants at the highest rates in 46 yr amid high margins and after a government mandated industry consolidation.
China CNPC completes domestic pipeline to receive more Russian oil
(Reuters) — China National Petroleum Corp completed the last welding of a 941.8-km pipeline in northeast China, ready to start taking Russian oil from Jan. 1, the state energy group said late on Sunday.
Shell sells out of Woodside Petroleum for $2.7 B
LONDON/SYDNEY (Reuters) — Royal Dutch Shell on Monday sold its entire stake in Australia's largest independent oil and gas company Woodside Petroleum Ltd for $2.7 B as it pushes ahead with its vast disposal program.
S.Korea's Hanwha Total to raise LPG use in cracker after expansion
PENANG (Reuters) — South Korea’s Hanwha Total Petrochemical will use at least four times more LPG feedstock when it completes raising its cracker capacity by 30% to 1.4 MMtpy in 2019, said a top executive.
- INEOS to invest €250 MM in Lavera cracker modernization project in France 11/19
- BASF adds ISCC EU certification to certified biomass-balanced methanol portfolio 11/19
- Siam Cement to invest an additional $500 MM in Long Son chemical complex 11/19
- LanzaJet produces first jet fuel from ethanol at a commercial scale 11/19
- Ducor Petrochemicals, Blue Circle Olefins partner to create a fully circular supply chain for polypropylene 11/18
- World's first: Air Liquide’s innovative technology converts ammonia into hydrogen at industrial scale 11/18
