Asia/Pacific

India diesel exports to SE Asia hit 7-yr high in March due to Iran war

The surge in exports could boost spot sale margins for Indian refiners who have purchased large volumes of prompt Russian crude to replace Middle East supply disrupted by the war.

South Korea to start crude oil swap with local refiners

The policy enables refiners to borrow crude oil from the national reserve and return the same volume once crude shipments secured abroad arrive.

South Korea's LG Chem to import Russian naphtha

The country's Industry Ministry had earlier confirmed the shipment, including its size, but did not disclose the importing company's name.

PetroChina says operations 'overall normal', Strait of Hormuz accounts for about 10% of its supplies

While PetroChina's investments in the Middle East have been affected by the war, the company had contingency plans to safeguard supplies via trading activities.

Australia’s biggest LNG plants suffer outages due to cyclone, straining global supply

Japan to relax rules from April to boost coal-fired power amid LNG import risks

Asia 10-ppm sulfur diesel margin hits record high

Refinery runs across northeast Asia have been curtailed due to tighter crude supply after the Middle East conflict broke out, in turn limiting spot diesel volumes available for sale.

South Korea enforces naphtha export ban amid Middle East supply disruptions

The move requires refiners to divert export volumes to the local market and give the government powers to order production and allocation of naphtha, a key petrochemical feedstock used in chips, autos, plastics and everyday goods.

Philippines launches $333-MM fund to boost fuel security

Under the program, the government plans to buy up to 2 MMbbl of fuel to support domestic supply and purchase refined petroleum products and liquefied petroleum gas.

Vietnam's Nghi Son refinery has crude oil for uninterrupted operations until end of May

The refinery is 35.1% owned by Japan's Idemitsu Kosan Co, 35.1% by Kuwait Petroleum, 25.1% by Vietnam's state oil firm Petrovietnam and 4.7% by Mitsui Chemicals Inc.