Asia/Pacific
China oil demand to plateau between 2025 and 2030
Apparent consumption of oil is expected to reach 760 MMt in 2025, up 0.9% on the year, he added, but demand is set to stabilize next year and stay above 700 MMt until 2030.
India imports more Russian crude, but mix of buyers shifts
While the South Asian nation's appetite for Russian crude has not been diminished by the U.S. sanctions against top Russian producers Lukoil and Rosneft, what has changed is the mix of buyers.
Aster to carry out further upgrades at Singapore Bukom refinery
The plans include a previously announced project to spend $75 MM to revitalize its condensate splitter unit which it acquired in June, and $71 MM on its lube oil complex to produce higher-value base oils.
Major Asian refiners sell 2026 diesel cargoes at higher premiums
Major Asian refiners have locked in term deals for diesel exports in 2026 at higher premiums to benchmark Singapore prices than this year, supported by firmer prices in November.
China refiner moves forward with expansion despite sanctions
A Chinese refinery operator whose main business was disrupted when it was sanctioned by Washington in May for buying Iranian oil is pressing ahead with a $3.6-B petrochemicals expansion project.
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