Asia/Pacific

India's Essar to pay $1.18/share to minority shareholders

NEW DELHI (Reuters) — India's Essar Group will pay $1.18 apiece to the minority shareholders who tendered Essar Oil shares under a delisting offer ahead of the company's sale to a consortium led by Russian oil major Rosneft, the company said.

MOGAS to supply isolation valves from Hengli petchem complex

HOUSTON — MOGAS Industries, Inc. recently received contracts to supply severe service isolation valves to Hengli Petrochemical (Dalian) Refinery Co., Ltd for a new heavy oils construction project on ChangXing Island in Dalian City Liaoning, China.

Metso announces four new valve distribution agreements in India

Metso strengthens its presence in India with the signing of four non-exclusive distribution agreements for its valve products.

Rosneft, Trafigura close $12.9 B purchase of India's Essar Oil refinery

MUMBAI (Reuters) — Russian oil major Rosneft and partners closed their $12.9 B purchase of Indian refiner Essar Oil on Monday, giving them a foothold in one of the world's fastest growing oil users.

PTT explores possibility of propylene oxide, polyether polyols complex in Thailand

BANGKOK, Thailand — PTT Global Chemical (PTTGC) signed two head of agreements (HoAs), to jointly perform engineering study for potential development of Propylene Oxide (PO) 200 KTA with Toyota Tsusho Corporation (TTC) and to jointly perform engineering study for potential development of Polyether Polyols (Polyols) 130 KTA with Toyota Tsusho Corporation (TTC) and Sanyo Chemical Industries, Ltd. (SCI).

Vopak JV to expand liquid storage terminal in Malaysia

Royal Vopak and its JV partners intend to expand their independent storage terminal, Pengerang Independent Terminals Sdn Bhd (PITSB) in Pengerang, Johor in southern Malaysia. PITSB will be expanded with 430,000 cbm to a total capacity of 1.7 MMcm.

Vietnam crude oil imports to hit record as refinery gets ready to start

SINGAPORE (Reuters) — Vietnam's crude oil imports will soar to record highs in August as the country ramps up fuel refining at a time when local crude output is dwindling.

Fire breaks out at Petrochina chemical plant in Dalian

BEIJING (Reuters) — A fire broke out on Thursday at state oil major PetroChina's plant in northeastern China, one of the country's largest refineries, state media reported, the latest industrial incident to rock the port city of Dalian.

Thai Oil buys 1 MMbbl North Sea crude for Nov to replace Mideast oil

SINGAPORE (Reuters) — Refiner Thai Oil PCL has bought 1 MMbbl of North Sea Forties crude to be delivered in November to replace more expensive Middle East oil, trade sources said on Wednesday.

CNPC: China's energy demand to peak in 2040 as transportation demand grows

BEIJING (Reuters) — China's energy demand will peak by 2040, later than the previous forecast of 2035, as transportation fuel consumption continues to rise through the middle of this century, state-owned oil major China National Petroleum Corp (CNPC) said on Wednesday.