Asia/Pacific
China sets sights on oil benchmark after years of delays
BEIJING/SINGAPORE (Reuters) — China has opened more than 6,000 trading accounts for its long-awaited crude futures contract—with three-quarters coming from individual traders—as it pushes ahead with plans to compete with global pricing benchmarks.
Lotte Chemical Titan in weak Malaysian debut after IPO scaled back
KUALA LUMPUR (Reuters) — Shares of Lotte Chemical Titan Holding Bhd fell in their Malaysian stock market debut, a further indication of weak investor demand after the size of its offering was slashed by a fifth last week.
Saudi Aramco to meet Asia demand for August crude in full
SINGAPORE/NEW DELHI (Reuters) — Saudi Aramco will meet the full August crude oil requirements of its customers in India and southeast Asia as well as four of its North Asian buyers, several sources with knowledge of the matter said on Tuesday.
Top Iran oil tanker firm NITC says shipments to Europe increasing
ISTANBUL (Reuters) — NITC, Iran's leading oil tanker operator, said on Monday its shipments to Europe were increasing daily and the company plans to upgrade its fleet to support expansion.
CB&I awarded material supply contract for ethylene expansion project
THE WOODLANDS, Texas — CB&I announced it has been awarded a contract by PT Chandra Asri Petrochemical Tbk (CAP) to supply materials for the revamp of existing cracking heaters at CAP's naphtha cracker plant in Cilegon, Indonesia.
Zhejiang Petrochemical starts construction of China's first private oil refinery site
BEIJING (Reuters) — Zhejiang Petrochemical started construction on Monday of the first phase of its oil refining and petrochemical complex on the island of Zhoushan, near Shanghai, in Zhejiang province, the official Xinhua news agency reported.
Shell sees rising investment in renewables
ISTANBUL (Reuters) — Royal Dutch Shell will be spending up to $1 B a year by 2020 on projects within its new energies division, Chief Executive Ben van Beurden told an industry conference on Monday.
India buys first ever US crude oil, to step up purchases
NEW DELHI/SINGAPORE (Reuters) — India, the world's third-largest oil importer, will import crude oil from the United States for the first time after Indian Oil Corp bought a cargo that will be delivered in October.
AEG Power Solutions to secure power for major petchem plants in Oman
ZWANENBURG, The Netherlands — AEG Power Solutions, a global provider of power electronic conversion systems and solutions for industrial power supplies and renewable energy applications, today announced that it has been selected to provide AC and DC UPS to secure the power supply for a Polyethylene plant (HDPE/LLDPE) and a Polypropylene plant (PP) owned by Oman Oil Refineries and Petroleum Industries Company SAOC - Orpic.
thyssenkrupp establishes its first global Oleochemical cluster in Thailand
thyssenkrupp inaugurated its technology center for the oleochemical industry in Map Ta Phut, Thailand, to deliver engineering solutions to global customers. Representing an investment of more than €18 MM, Map Ta Phut will become thyssenkrupp’s global oleochemical competence center for R&D, engineering, project execution and technology development services.
- Southern Energy Renewables and Axens Sign MoU to advance SAF projects in Louisiana and beyond 4/8
- One of the largest heat pumps in the world has reached BASF's Ludwigshafen site 4/8
- LANXESS introduces surcharge for Lewatit ion exchange resins 4/8
- HyOrc secures industrial site and accelerated permitting path for Portugal green methanol project 4/8
- India raises HPCL Rajasthan Refinery project cost to $8.6 B 4/8
- Iranian Oil Refining Co. confirms attack on Lavan refinery 4/8
