Asia/Pacific

CB&I awarded alkylation, hydrocracking contracts for China refinery

THE WOODLANDS, Texas -- CB&I announced it has been awarded two contracts for a grassroots refinery in China. The scope of work includes the license and engineering design of an alkylation unit and two Chevron Lummus Global (CLG) diesel hydrocracking units along with catalyst supply.

China-US trade tensions high on Big Oil's worry list

DAVOS, Switzerland (Reuters) -- Oil executives and Middle East producers are concerned that trade tensions between the United States and China risk clouding the outlook for global energy demand growth and a recovery in the price of oil.

China jails former senior oil executive for 15 years for graft

BEIJING (Reuters) -- A Chinese court on Thursday jailed the former vice chairman of oil giant PetroChina for 15 years after finding him guilty of corruption, the latest official to be brought down in a sweeping crackdown on graft.

Lotte Chem looking into acquiring Singapore's Jurong Aromatics

SEOUL (Reuters) -- Lotte Chemical Corp is looking into acquiring troubled Singapore petrochemical company Jurong Aromatics Corp, as the South Korean company continues to push for growth.

Iran, China to sign $3 billion contract to upgrade Iranian refining capacity

BEIRUT (Reuters) -- Iran and China will sign a $3 billion contract next month to upgrade Iran's oil refining capacity, according to Iran's Mehr News agency.

Asian oil refinery margins jump on outages in Mideast, Asia

SINGAPORE (Reuters) -- Several refineries in the Middle East and Asia have shut down in the past week due to fires and other technical problems, leading to a jump in profit margins for facilities still operating.

India's Reliance completing core refining, petrochemicals expansion, expects sharp profits rise

MUMBAI (Reuters) -- Indian oil-to-telecoms conglomerate Reliance Industries Ltd expects a sharp rise in operating profit from the next financial year as it completes an expansion of its core refining and petrochemicals business, a senior executive said on Monday.

China cancels ethanol imports as tax hike threatens trade

BEIJING (Reuters) -- Chinese buyers have cancelled up to seven cargoes of ethanol due to arrive by the end of March, sources said, the first sign that a likely hike in import duties is threatening to stall demand from the world's fastest-growing market.

ADNOC shuts half capacity at Ruwais refinery after fire

SINGAPORE/DUBAI (Reuters) -- Abu Dhabi National Oil Company (ADNOC) has shut half the capacity at its 800,000 barrels-per-day Ruwais refinery after a fire there last week, three industry sources familiar with the matter said on Monday.

India's 2016 Iran oil imports hit record high

NEW DELHI (Reuters) -- India's annual oil imports from Iran surged to a record high in 2016 as some refiners resumed purchases after the lifting of sanctions against Tehran, according to ship tracking data and a report compiled by Thomson Reuters Oil Research and Forecasts.