Asia/Pacific
JXTG to shut Muroran petchem plant as Japan gasoline demand fades
TOKYO (Reuters) — JXTG Nippon Oil & Energy Corp, Japan's biggest oil refiner, said on Wednesday it will shut its Muroran petrochemicals plant due to falling demand for gasoline in Japan.
India needs to double refining capacity by 2040 to meet fuel demand growth
SINGAPORE (Reuters) — India needs to double its refining capacity by 2040 to meet rising fuel demand as an expanding middle class buys more passenger vehicles and its economy grows, a top refinery official said on Wednesday.
China's CEFC wins preliminary govt approval for Rosneft deal
BEIJING/HONG KONG (Reuters) — Privately-run conglomerate CEFC China Energy has obtained preliminary state approval for its proposed $9.1 B investment in Russian oil major Rosneft, three sources with knowledge of the matter told Reuters.
Russia keeps spot as China's top oil supplier for sixth month
BEIJING (Reuters) — Russia beat Saudi Arabia to become China’s top crude oil supplier for a sixth month in August, as independent refiners ramped up purchases and as state-owned refiners bought seaborne shipments from the Russian Far East port of Kozmino.
Oil demand may exceed supply by up to 4 MMbpd by 2019
SINGAPORE (Reuters) — Global oil demand may be between 2 MMbpd to 4 MMbpd more than worldwide crude supply by the end of 2019 as exploration spending has declined as prices fell, an executive with commodities trading house Trafigura said on Tuesday.
Strong growth in fuel demand accelerates oil market rebalancing
SINGAPORE (Reuters) — Strong oil demand growth in emerging economies led by China and India but also from Europe is drawing down oil stockpiles faster than expected, putting the global market firmly on track to rebalance, senior industry executives said on Tuesday.
India's HPCL makes its first US oil purchase
NEW DELHI (Reuters) — Indian state refiner Hindustan Petroleum Corp has made its first purchase of US oil, buying high sulfur crude Mars in a tender, company chairman M. K. Surana said on Monday.
Damaged New Zealand fuel pipeline restarted
SYDNEY (Reuters) — A damaged pipeline that resulted in a fuel shortage across New Zealand and grounded hundreds of flights was restarted on Sunday after repairs were completed, officials said.
Japan's Cosmo Oil to boost diesel output to meet demand from ships from 2020
SINGAPORE (Reuters) — Japan's Cosmo Oil plans to increase diesel output at its Sakai refinery in Osaka, looking to capitalize on an expected jump in demand when a global mandate for ships to switch to cleaner fuels kicks in from 2020, its top executives said.
Enterprise: US oil exports to meet 5% of non-US global demand by 2022
SINGAPORE (Reuters) — Crude oil exports from the United States will increase to meet 5% of global demand by 2022, as refiners seek more low-sulfur crude to meet stricter rules for cleaner fuels, an executive from Enterprise Partners LP said on Monday.
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- 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
