Refining
China allows output cuts by some money-losing independent refiners
Some refiners in the eastern province of Shandong, popularly called teapots, were told recently that they can cut output to no lower than 80% of last year's monthly average.
IEA forecasts chance of critically low stockpiles before peak summer demand
Fuel demand typically peaks in the Northern Hemisphere summer when people drive and fly on holiday.
U.S. gasoline market set for fresh test after near-record stock draws
U.S. gasoline prices have already jumped by 50% to close to four-year highs since the U.S. and Israeli war against Iran began on February 28, and currently average around $4.33 per gallon.
China's crude oil imports slump, but it's economics not altruism
The collapse in China's imports is being framed in media and market commentary as helping Asia adjust to the loss of at least 10 MMbpd of crude from the effective closure of the Strait of Hormuz.
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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
