Asia/Pacific
UN mulls US push for N.Korea oil embargo, textile export ban
UNITED NATIONS (Reuters) — The United States wants the United Nations Security Council to impose an oil embargo on North Korea, ban the country's exports of textiles and the hiring of North Korean laborers abroad, and subject leader Kim Jong Un to an asset freeze and travel ban, according to a draft resolution seen by Reuters on Wednesday.
Oil up after Harvey fallout, but Hurricane Irma heads to Caribbean
LONDON (Reuters) — Oil prices rose on Wednesday as strong global refining margins and the reopening of US Gulf Coast refineries provided a more bullish outlook after sharp drops due to Storm Harvey.
China's Sinopec, Jiangxi Copper set up fuel retail JV
BEIJING (Reuters) — Jiangxi Copper Corp said on Wednesday it would set up a joint venture with the Jiangxi region branch of Chinese refining giant Sinopec to market oil products in the southeastern province of the country.
Asian traders look to snap up US crude in wake of Hurricane Harvey
SINGAPORE (Reuters) — Some oil traders in Asia are looking to snap up crude cargoes from the United States after Hurricane Harvey closed US refineries, denting local demand and pushing out the price spread between U.S and Atlantic Basin crude benchmarks.
S.Korea's KPIC shuts naphtha cracker due to unplanned flaring
SEOUL (Reuters) — South Korea’s Korea Petroleum Industries Co (KPIC) on Tuesday shut down its naphtha cracker due to an unplanned flaring incident, an industry source with direct knowledge of the matter said.
TOYO awarded petrochemical project in Indonesia
Toyo Engineering Group (TOYO) has been awarded a construction project from PT Chandra Asri Petrochemical Tbk (CAP), Indonesia's largest petrochemical company.
Japan proposes oil refiners must raise fuel oil processing capacity at plants
TOKYO (Reuters) — Japan is proposing its oil refineries increase the amount of residual fuel oil processed at the plants in a third round of directives to streamline the nation’s refining sector.
Indonesia's Pertamina receives first license to export gasoil
SINGAPORE/JAKARTA (Reuters) — Indonesia's Pertamina has received a license from the government to export gasoil for the first time, three sources close to the matter said on Monday, although the state oil company is planning to prioritize domestic sales if possible.
Russia says its oil supplies to North Korea are negligible
XIAMEN, China (Reuters) — President Vladimir Putin said on Tuesday that Russian oil supplies to North Korea were negligible, responding to heightened international scrutiny of the ties between Moscow and the leadership in Pyongyang.
US crude rises, gasoline falls as refineries restart
LONDON (Reuters) — US oil prices rose on Tuesday and gasoline fell as the gradual restart of refineries in the Gulf of Mexico that were shut by Hurricane Harvey raised demand for crude and eased fears of a fuel supply crunch.
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