Asia/Pacific
China's crude oil imports to exceed 400 MMt this year
BEIJING (Reuters) — China's crude oil imports will exceed 400 MMt this year, said an executive at a Chinese state oil giant on Tuesday, as continuing low oil prices and declining domestic output sparked increased overseas purchases.
ADNOC cuts Sept crude allocation to 2 buyers by 10%
SINGAPORE (Reuters) — Abu Dhabi National Oil Co (ADNOC) notified two term buyers in Asia that they will receive 10% less crude for September, two sources familiar with the matter said on Tuesday.
Chinese oil trader Unipec seeks closer ties with teapot refiners
BEIJING (Reuters) — State oil trader Unipec will develop "really strong" ties with China's independent refiners, said a company executive on Tuesday, even as they present a growing challenge to its parent and Asia's top refiner, Sinopec Corp.
Vietnam's fuel imports may drop as Dung Quat oil refinery tax cut finally felt
SINGAPORE/HANOI (Reuters) — Vietnam's fuel imports may drop as the effects of a tax cut on sales of gasoline and diesel fuel from the country's Dung Quat oil refinery start to be felt as earlier term contracts expire.
Wison Engineering awarded EPFC contract from Formosa Plastics
SHANGHAI — Wison Engineering Services Co. Ltd., one of the leading chemical engineering, procurement and construction (EPC) management service providers in China, announced that its non-wholly owned affiliated company, Wison Engineering (China) Limited, has been awarded an engineering, procurement, fabrication and construction (EPFC) contract for one section of Low-Density Polyethylene (LDPE) project in Texas by Formosa Plastics Corporation.
Russia is top China oil supplier 4th straight month in June, longest streak ever
BEIJING (Reuters) — Russia was China's biggest crude oil supplier for a fourth straight month in June, its longest streak ever in the top spot, data from the General Administration of Customs showed on Monday.
India sets up panel to quicken govt's stake sale in HPCL to ONGC
NEW DELHI (Reuters) — India has decided to set up a panel headed by Finance Minister Arun Jaitley to expedite the sale of government's stake in refiner Hindustan Petroleum Corp to explorer Oil and Natural Gas Corp, Oil Minister Dharmendra Pradhan said.
China June diesel exports rise on year ago
BEIJING (Reuters) — China's exports of diesel rose in June on a year ago as refiners turn to foreign markets to offload their excess product, while liquefied natural gas imports also rose, customs data showed on Sunday.
China unveils plans to expand, upgrade oil and gas pipelines
The National Development and Reform Commission (NDRC) and National Energy Administration (NEA) unveiled plans to expand and upgrade China’s oil and gas pipeline network over the next decade.
SCG to proceed with Vietnam petchem project investment
Vina SCG Chemicals Co., Ltd. (VSCG), wholly-owned subsidiary by SCG, has approved to proceed with the investment of the Long Son Petrochemicals Company Limited (LSP). LSP issued the Letter of Award to key contractors on July 14 and the final contract signing is expected to be in the second half of 2017. The estimated 4.5-yr construction of the complex is managed under the consolidated turnkey lump sum project format, with commercial operation expected by the first half of 2022.
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- Indonesia president inaugurates Balikpapan refinery upgrade worth $7.4 B 1/12
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- Brazil's diesel imports hit record in 2025 amid local production decline 1/12
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- Maersk explores more ethanol use for green fuel to cut reliance on China 1/12
