Asia/Pacific
India's Russian oil buying hits record high, slashes Mideast, Africa share
India's oil imports from Russia rose to a fresh record high in April, further reducing the share of Middle Eastern and African grades to their lowest level in at least 22 years.
bp targets farms and feedstock as biofuel race gathers pace
bp is considering buying stakes in biofuel feedstock producers and investing directly in farming ventures to secure supplies as the global race for the low-carbon fuel gathers pace.
Reliance courts Indian diesel market with cheaper supply
India's Reliance Industries Ltd has turned its sights on the domestic market, offering a high-performance diesel at a lower price than fuel sold by state-owned retailers, the operator of the world's biggest refining complex said.
Samsung Engineering and OMV sign MoU to jointly develop sustainable projects based on modularization
Samsung Engineering and OMV announced the signing of an MoU to cooperate on projects from the early development stage.
Singapore April bunker sales hit three-month high on better prices
Sales of marine fuel, also known as bunker fuel, hit three-month highs in the world's biggest refueling hub Singapore in April as prices were more competitive than regional ports.
India's Hindustan Petroleum posts biggest jump in quarterly profit in 9 yr
Indian state-owned oil refiner Hindustan Petroleum Corporation Ltd said it posted its biggest quarterly profit in nine years, helped by a fall in crude prices and higher refinery margins.
Oil falls 2% on weak U.S. and Chinese economic data
Oil prices fell about 2% to a one-week low as a political standoff over the U.S. debt ceiling stoked recession jitters in the world's biggest oil consumer, while rising U.S. jobless claims and weak Chinese economic data weighed.
China cuts second batch of 2023 fuel export quotas
China has decreased its second batch of export quota volumes for refined oil products, consultancies and trader sources said, focusing on local demand during the refinery overhaul season and boosting domestic sales amid poor export margins.
Japan's Eneos aims to double profit in 3 years with green energy plan
Japan's biggest oil refiner Eneos Holdings said it planned to more than double net profit to ¥310 B in three years and expand aggressively in green energy and climate-friendlier fuels.
GAIL plans $4.9-B ethane cracker in West India
GAIL Ltd, the country's top gas supplier, plans to build a $4.89-B ethane cracker near its LNG import plant in Western India as it seeks to meet an expected surge in demand.
- ITT to acquire SPX Flow for > $4.77 B, expanding leadership in highly engineered components and adjacent flow technologies 12/5
- MOL Group introduces eco-friendly Bag-in-Box packaging for lubricants 12/5
- Addis Energy secures $8.3 MM to scale its transformative approach to low-cost ammonia production 12/5
- World Fuel Services supplies cruise line with waste-based biofuels 12/5
- Chevron announced $18 B-$19-B CAPEX budget for 2026 12/5
- Russia and India sign deal to build urea plant in Russia 12/5
