Asia/Pacific
China kept building its crude stockpile in April despite Iran crisis
The ongoing building of inventories by the world's biggest crude importer underlines that China is in quite a different situation to the rest of the world, which is burning through oil stockpiles to compensate for the loss of about 12 MMbpd of supply to the effective closure of the Strait of Hormuz.
China's April oil throughput hits lowest since August 2022, inventories rise
The run cuts were due to negative oil-processing margins, and Chinese independent refineries are expected to deepen the cuts in May despite Beijing urging small refiners to maintain fuel production.
Vietnam receives first cargo of Congo Djeno crude for Nghi Son refinery
The 200,000-bpd refinery had processed crude oil sourced almost entirely from Kuwait, but shipments have been disrupted due to the Iran war, forcing Vietnam to seek alternative suppliers.
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Construction Boxscore: Project Spotlight
Project:
Long Son Petrochemicals Complex
Location:
Long Son, Vietnam
Operator:
Siam Cement Group
Cost:
$5.4 B
Capacity:
1.65 MMtpy
Completion date:
2023
Status:
Under Construction
