Asia/Pacific

BP sells stake in China petrochemical venture to Sinopec for $1.7 B

LONDON (Reuters) -- BP has agreed to sell its 50% stake in the Shanghai SECCO Petrochemical Company to a subsidiary of its joint venture partner Sinopec for $1.68 B, the British oil major said.

Maiden Bakken oil cargo to Asia ships out, with more to come

NEW YORK (Reuters) -- The first ever reported export of North Dakota's crude oil to Asia left port last month, according to a shipping document seen by Reuters on Wednesday, in what is expected to be the first of numerous cargoes once the key Dakota Access pipeline starts moving oil in May.

China sets deadline for refiners to apply for oil import permits

BEIJING (Reuters) -- China's top state planner will stop accepting new applications from oil refiners to use imported crude oil from May 5, it said on Thursday, amid growing concerns about domestic refining overcapacity that has led to record exports of fuel.

Trafigura buys more naphtha; snaps up Reliance cargo

SINGAPORE (Reuters) -- European trader Trafigura has bought 55,000 t of naphtha from India's Reliance Industries for end-May loading from Sikka, adding to its unusually high purchases of the fuel from the Singapore cash market, traders said on Wednesday.

Prices stable but visitors see some gas stations shut in N. Korea

SEOUL (Reuters) -- Some of North Korea's state-run petrol stations are restricting sales or appear to have closed, visitors said on Wednesday, ahead of a UN Security Council meeting to discuss tougher sanctions on the isolated state that could include curbs on oil imports.

Is the O&G industry becoming more ‘green’?

Smith, Ashley, Hydrocarbon Processing Staff

While the term “environmentally conscious” doesn’t spring forth images of the oil and gas industry, the fact is, the industry is consistently implementing new ways to reduce its carbon footprint, integrating new fuels into its business and updating its refineries with newer, environmentally friendly technology.

China to boost non-fossil fuel use to 20% by 2030

BEIJING (Reuters) -- China aims for non-fossil fuels to account for about 20% of total energy consumption by 2030, increasing to more than half of demand by 2050, its state planner said on Tuesday, as Beijing continues its years-long shift away from coal power.

Russia elbows Saudi Arabia aside as China's top crude oil supplier in March

BEIJING (Reuters) -- Russia reclaimed its position as China's biggest crude oil supplier in March, customs data showed on Tuesday, displacing Saudi Arabia after two months in second place as Moscow fights to hang on to its slice of the Chinese market.

Iran becomes No. 2 oil supplier to S. Korea in Q1 2017

SEOUL (Reuters) -- Iran ranked as South Korea's second-biggest oil exporter over the first three months of 2017 as it ramped up output to regain market share after sanctions were lifted last year, the first time ever it has claimed the No. 2 spot on a quarterly basis.

S.Korea's GS Caltex buys Russian Urals crude for first time

SEOUL (Reuters) -- GS Caltex, South Korea's second-largest refiner, has bought Russian Urals crude for the first time, a company spokesman said on Monday.