Asia/Pacific
Petronas looks to cut costs by procuring personal fleet of new LNG ships
The move will give Petronas direct access to LNG shipping capacity at lowest possible costs, an official statement said. To accomplish this, Petronas said it will engage its shipping unit MISC Bhd to offer project management and consultancy services in construction of new LNG ships.
Foster Wheeler to manage new Vietnam project for refining, petrochemicals
The complex will consist of an integrated refinery, processing 200,000 bpd of crude oil, and a petrochemical complex, with associated infrastructure, utilities and offsites facilities. The refinery is designed to process Kuwait Export crude. The plant will have the facilities for full conversion.
Soft refining margins may cut Asian crude demand
Singapore's complex cracking margins have softened to around $3.53/bbl, from around $6.34/bbl a week earlier, data from JBC Energy showed, as margins for gasoil and kerosene fall from seasonal highs.
Japan reports falling demand for imported LNG
Japan is the world's top LNG importer, making the trend bad news for companies developing or planning LNG export facilities in locations as varied as Australia, Russia, East Africa or North America.
ExxonMobil picks Wood Group for engineering on Papua New Guinea LNG
Under the contract, Wood Group PSN will provide brownfield engineering and procurement support to ExxonMobil's operations in PNG, including construction and maintenance services to both the Hides gas conditioning plant in the highlands, and the LNG plant northwest of Port Moresby.
Foster Wheeler, CEFOC launch Chinese venture for engineering design
Through the venture, Foster Wheeler and CEFOC (officially named The Fourth Construction Company of China Electronics System Engineering) will execute their business in China. Under Chinese law, this grouping includes other key businesses for Foster Wheeler such as upstream, refining and power.
US shale boom threatens Australian gas sector
Big LNG importers like Korea Gas and Japan's Osaka Gas have signed deals with US terminals, diversifying supply sources that had relied on Australia and the Middle East.
Petrovietnam to provide Ecuador with diesel oil
Petrovietam won a contract to supply Ecuador with 2.16 million bbl of diesel oil, state-run company Petroecuador confirmed. Nine cargoes of 240,000 bbl each are scheduled to arrive next month.
Asian diesel exports to Latin America likely to slow amid new refineries
"Upcoming refinery additions will reduce the region's distillate import requirement," ESAI Energy said in a statement this week. "Crude distillation unit, or CDU, capacity additions of 550,000 barrels a day in the region between 2014 and 2016 will offset higher demand," ESAI said.
Hyundai Oilbank, Lotte Chemical eye mixed xylenes venture in South Korea
The 1 trillion won ($892 million) factory at Seosan, southwest of Seoul, will be finished by late 2016, it added. It will make 1 million metric tons each of mixed xylenes and light naphtha, allowing the companies to cut imports of these by about 2 trillion won worth each year, Hyundai Oilbank said.
- CNOOC completes construction on $2.9-B, 1.8-MMtpy integrated complex in east China 8/22
- bp's Whiting refinery (U.S.) continues to flare days after severe thunderstorm 8/22
- Bachmann introduces latest version M-Target for Simulink 8/22
- U.S. to rule on biofuel waivers, but big oil refiners may need to wait 8/22
- Chinese independent refiner Hongrun buys Canadian, Brazilian crude 8/22
- Ukrainian attack suspends Russian oil flows to Hungary, Slovakia 8/22
