Asia/Pacific
Pengerang Energy Complex inks $102-B agreements for feedstock supply and product offtake
Pengerang Energy Complex (PEC) announced that it has signed key agreements with several blue-chip partners for the upcoming PEC, located within the dedicated Pengerang Integrated Petroleum Complex in Johor, Malaysia.
Indian fuel demand in February was the highest in 24 yr
India's fuel demand hit its highest level in at least 24 years in February, with industrial activity in Asia's third biggest economy boosted by cheap Russian oil.
S-Oil holds groundbreaking for $7-B Shaheen crude-to-chemicals complex
S-OIL held a groundbreaking ceremony for the capital-intensive Shaheen crude-to-chemicals complex in Ulsan, South Korea.
Indonesia's biodiesel policy, dry weather to keep palm oil prices elevated
Indonesia's biodiesel policy and the likely emergence of the El Nino weather pattern could further strain global inventories of the most used cooking oil, lifting prices later this year, leading industry officials and analysts said.
AWS unveils startups selected for the Clean Energy Accelerator 3.0 program
Amazon Web Services (AWS) announced the startups selected for the Clean Energy Accelerator 3.0. The program is designed to facilitate collaborations with mature startups developing breakthrough clean energy technologies.
Philippines rushes to contain oil spill from sunken fuel tanker
Environment and disaster authorities in the Philippines rushed to contain an oil spill on Friday from a sunken fuel tanker that has reached coastal towns on a large central island, warning of dangers to marine ecosystems if more oil leaks.
Chinese diesel/gasoline exports continue to rise
China's diesel exports rose for a second month in December, while gasoline exports climbed for a third month, as the country's COVID outbreak limited domestic fuel demand, and refiners utilized their expanded yearly export quotas.
Vietnam's Long Son petrochemicals complex to start operations by mid-year
Long Son Petrochemicals will start commercial production at its petrochemical complex in southern Vietnam by mid-2023.
Indonesia trying to create palm oil benchmark price
Indonesia, the world's biggest palm oil exporter, plans to require crude palm oil exports to go through a futures exchange to create the country's own benchmark price.
Oil price rises on Chinese demand rebound
Oil rose on signs of a strong economic rebound in top crude importer China, but fears over the impact of potential increases to European interest rates kept prices from moving higher.
- 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
