Asia/Pacific

Unipec, Vitol win tender to supply oil products to Bangladesh

DHAKA (Reuters) — Unipec and Vitol have won a tender to supply oil products to Bangladesh, two government sources with direct knowledge of the matter said on Wednesday.

Indian refiner HMEL chooses Topsoe equipment for refinery upgrade

Indian refinery company HPCL-Mittal Energy Ltd (HMEL) has chosen Topsoe’s diesel hydrotreater unit and hydrogen generation facilities to meet their upgrading requirements.

Russia keeps top spot as China oil supplier in May, Angola pips Saudi again

BEIJING (Reuters) — For the third month in a row, Russia has maintained its spot as China's top crude oil supplier and Angola clung onto the second spot over Saudi Arabia, data from Chinese customs for May imports showed on Friday.

China, India, Japan hamper Asia oil demand growth, efforts to balance market

SINGAPORE (Reuters) — As the global oil market frets about a stubborn supply glut, faltering demand growth in key Asian crude importers is further hampering efforts to restore market balance.

Traders test OPEC ‘whatever it takes’ resolve to defend oil price

SINGAPORE/LONDON (Reuters) — When OPEC leader Saudi Arabia pledged in May to do "whatever it takes" to defend world oil prices, it didn't expect the market to be testing its resolve just one month later.

New Chinese refineries due for test runs in end-June, Aug.

(Reuters) — PetroChina's 260,000 bpd greenfield refinery in southwestern Yunnan province is due for test productions at end of this month, while CNOOC-operated Huizhou plant is targeting August for test runs, according to two senior industry sources with knowledge of the matter.

Fuel oil margins rise to five-year high, potential boon for simple refiners

SINGAPORE (Reuters) — Fuel oil profit margins have surged to their highest in more than 5 yr on lower supplies and rising demand from electric power generators, which may push some refiners to increase their runs.

S-Oil awards Lloyd’s Register RBI contract for olefin complex

Lloyd’s Register (LR), the leading provider of engineering and technology-centric professional services, is awarded a new contract from S-Oil Corporation (S-Oil) covering the implementation of a fully integrated risk-based inspection (RBI) system. Based at S-OIL’s largest investment project—a new $4.2 B residue upgrading and Olefin downstream complex (RUC/ODC) plant in Ulsan, Korea—the new contract will commence this month.

Chinese state oil giants take petrol price battle to the pumps

LULIANG, China (Reuters) — Chinese state oil giants Sinopec and PetroChina are waging war at the nation's gas pumps, slashing prices at unprecedented rates in an effort to reclaim sales lost to private local and foreign rivals in the $440 B retail fuel market.

Propane dehydrogenation plant in Korea reaches record production rate

CB&I and SK Advanced Co. Ltd. are celebrating the record production rates and outstanding operation of a propane dehydrogenation (PDH) plant in Seoul, South Korea.