Asia/Pacific
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.
PetroChina says operations 'overall normal', Strait of Hormuz accounts for about 10% of its supplies
While PetroChina's investments in the Middle East have been affected by the war, the company had contingency plans to safeguard supplies via trading activities.
Asia 10-ppm sulfur diesel margin hits record high
Refinery runs across northeast Asia have been curtailed due to tighter crude supply after the Middle East conflict broke out, in turn limiting spot diesel volumes available for sale.
South Korea enforces naphtha export ban amid Middle East supply disruptions
The move requires refiners to divert export volumes to the local market and give the government powers to order production and allocation of naphtha, a key petrochemical feedstock used in chips, autos, plastics and everyday goods.
Philippines launches $333-MM fund to boost fuel security
Under the program, the government plans to buy up to 2 MMbbl of fuel to support domestic supply and purchase refined petroleum products and liquefied petroleum gas.
Vietnam's Nghi Son refinery has crude oil for uninterrupted operations until end of May
The refinery is 35.1% owned by Japan's Idemitsu Kosan Co, 35.1% by Kuwait Petroleum, 25.1% by Vietnam's state oil firm Petrovietnam and 4.7% by Mitsui Chemicals Inc.
Delta Air Lines' refinery bet looks more valuable in jet fuel squeeze
Most carriers buy jet fuel from suppliers. Delta instead bought a refinery that processes crude oil into jet fuel and other products.
- Petrobras delivers LPG sold at steep premiums despite Lula move to annul auction 4/3
- Plug Power to supply 275-MW GenEco electrolyzer system for Hy2gen’s Courant decarbonized ammonium nitrate project 4/3
- Vietnam refinery boosting jet fuel production 4/3
- China plans to upgrade some petrochemical plants, phase out others by 2029 4/3
- Morocco has diesel stocks for 51 days, energy ministry says 4/3
- Nigeria's Seplat Energy hit by strike amid push for higher output 4/3
