Asia/Pacific

Chinese refiners buy oil from storage, raise output with fresh import quota

Stocks have built up in recent months after the refiners, known as teapots and mostly based in eastern Shandong province, ran out of import quota in October.

ExxonMobil to permanently shut one steam cracker in Singapore from March

The imminent shutdown of the U.S. major's first cracker in the Asian oil trading hub comes as chemical producers grapple with losses from overcapacity led by China, the world's largest consumer of petrochemicals used to make products ranging from plastics and clothes to shoes and cars.

Hitachi secures order for additional centrifugal compressors for Aster Chemicals and Energy's ethylene export expansion project

This project is a part of Aster's initiative to double its ethylene export capacity and strengthen Singapore's role as an energy and petrochemical hub in Southeast Asia.

Liquefaction MPC delivers holistic business returns

Insight: How sanctions made a showpiece Chinese refinery's Western partners run for the exits

Yulong's ambition to rub shoulders with global heavyweights, backed by Beijing's push to modernize its refiners, was upended on October 15, when the UK sanctioned it for dealing in Russian oil.

Shell Insights: Behind the rise of LNG trucks in China

South Korea's Lotte Chemical, HD Hyundai to merge naphtha operations under petrochem plan

Lotte will merge its 1.1-MM tonne (t) naphtha cracking facilities and jointly operate HD Hyundai's plant with an output of 850,000 t under a plan to set up a joint venture.

Singapore port issues licenses to supply methanol as marine fuel

This marks a key step towards establishing methanol bunkering at scale and driving Singapore's ambition to be a sustainable multi-fuel bunkering hub.

Russia sees scope for oil exports boost to China, urges cooperation in LNG

China and India have become the main buyers of Russian oil since the start of Russia's military campaign in Ukraine in February 2022.

Vietnam's Binh Son refinery steps up U.S. oil imports

Vietnam has been seeking to buy more U.S. goods to narrow a trade gap between the two countries since Trump threatened in April to impose tariffs on Vietnamese products.