Asia/Pacific
China halts oil product exports to N.Korea in November as sanctions bite
BEIJING (Reuters) — China exported no oil products to North Korea in November, Chinese customs data showed, apparently going above and beyond sanctions imposed earlier this year by the United Nations in a bid to limit petroleum shipments to the isolated country.
Chinese customs seizes $13 MM worth of smuggled fuel
BEIJING (Reuters) — Chinese customs in Nanjing city has seized 12 Mt of smuggled fuel worth $12.98 MM, state news agency Xinhua reported on Monday.
Idemitsu, Showa Shell see around $70 MM in cost savings by March
TOKYO (Reuters) — Japanese refiners Idemitsu Kosan and Showa Shell Sekiyu said on Friday they expect to cost cuts by $71 MM in the first year of their business alliance that started last April.
Oil dips from highs but OPEC cuts still support market
SINGAPORE/LONDON (Reuters) — Oil prices dipped on Friday but stayed near their highest levels since 2015 on pledges from OPEC leader Saudi Arabia and non-OPEC Russia that any exit from crude output cuts would be gradual.
Fluor completes work on BASF auto coatings plant
IRVING, Texas — Fluor Corporation announced that BASF’s Coatings division has opened a new automotive coatings plant at the Shanghai Chemical Industry Park in Caojing, Shanghai, China. An opening ceremony was held recently to commemorate the milestone.
Indian refiner BPCL prepared to integrate with GAIL, Oil India
NEW DELHI (Reuters) — State refiner Bharat Petroleum Corp has written to the oil ministry for integration with GAIL (India) Ltd and Oil India Ltd as option 1 and 2, said oil minister Dharmendra Pradhan on Wednesday.
Idemitsu, Showa Shell to merge key operations next spring
TOKYO (Reuters) — Japanese refiners Idemitsu Kosan and Showa Shell Sekiyu will combine management of their key businesses, an Idemitsu spokesman said on Tuesday, pursuing a merger bitterly opposed by a core investor—Idemitsu's founding family.
S.Korea refiner buys rare Canadian crude cargo for February
SEOUL/SINGAPORE (Reuters) — South Korean refiner GS Caltex Corp has bought a rare cargo of Cold Lake crude, the company’s first purchase in more than two decades of this Canadian oil grade, a company spokesman said on Monday.
Russian oil exports to China via Skovorodino seen jumping 57% in 1Q
MOSCOW (Reuters) — Russian ESPO Blend oil exports to China via the Skovorodino-Mohe pipeline are expected to jump by 57% to 6.7 MMt in the first quarter of 2018 compared with the previous three months, sources familiar with the loading schedule told Reuters on Friday.
India increases petcoke import tax in blow to US refiners
NEW DELHI (Reuters) — India has raised the effective import duty on petroleum coke to 10% from 2.5%, according to a government order, days after the government told a court it was in favor of curbing the use of the dirty-burning fuel.
- 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
