Asia/Pacific
Indian refiners tap spot crude market to feed increased capacity
SINGAPORE/NEW DELHI (Reuters) — Indian companies have stepped up purchases of high-sulfur crude oil from the Middle East and Russia in the spot market to feed demand from expanded refining capacity, trade sources said.
Indian Oil plans to buy N. American sour crude for the first time
SINGAPORE/NEW DELHI (Reuters) — India's top refiner has issued its first tender to buy high-sulfur, or sour, crude from North America as it seeks to diversify imports, three trading sources said on Tuesday.
Malaysia's Lotte Chemical Titan raises $878 MM in IPO
KUALA LUMPUR (Reuters) — Malaysia's Lotte Chemical Titan Holding raised about 3.77 B ringgit ($878 MM) from an initial public offering (IPO) after pricing its shares at the bottom of an indicative range.
Sinopec upgrades 11 refineries to meet stricter fuel standards
BEIJING (Reuters) — China's Sinopec says on Monday the company has upgraded 11 refineries in North China to meet the stricter standards for fuel.
Japan's Idemitsu: No plan to call shareholders' meeting on Showa Shell merger
TOKYO (Reuters) — Japan's Idemitsu Kosan Co said it had no plans to call a shareholders' meeting to vote on a merger with rival Showa Shell Sekiyu after the issuance of new shares, which would dilute the stake held by the refiner's founding family.
India's largest refiner IOC setting up Singapore oil unit
SINGAPORE/NEW DELHI (Reuters) — India's largest refiner Indian Oil Corp is setting up an office in Singapore that will handle crude oil purchases and the sales of oil products from its refineries later this year, trade sources said on Friday.
S.Korea's GS E&C wins $865-MM order to rebuild ADNOC's fire-hit refinery
SEOUL/SINGAPORE (Reuters) — Abu Dhabi demand for gasoline is expected to stay firm after its plans to restart a gasoline-making secondary unit at its Ruwais refinery were delayed by about a year into early 2019.
Asia demand for US, Atlantic Basin oil set to jump as buyers prep for winter
SINGAPORE (Reuters) — Asian demand for crude oil from the Atlantic Basin and the Americas is set to rise as low prices drive Japanese and South Korean buyers to snap up cargoes to arrive ahead of peak winter consumption.
Taiwan's Formosa may not export spot diesel until Q4
SINGAPORE (Reuters) — Taiwan's Formosa Petrochemical Corp may not export any diesel in the spot market until the fourth quarter of this year, potentially boosting margins for the fuel, industry sources said on Thursday.
EIA: Low inventories, supply developments affecting Asian residual fuel oil prices
The difference between high-sulfur residual fuel oil prices in Singapore and crude oil prices in Dubai/Oman has been narrowing since the spring. Low inventories of residual fuel oil in Singapore and lower residual fuel oil production from Russia are likely contributing to the narrowing price spread.
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