Asia/Pacific
Russia and India sign deal to build urea plant in Russia
The joint venture will be based on the supply of ammonia from Russia's Togliattiazot plant, with the Indian companies financing the project until the plant begins commercial operations.
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.
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.
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.
- 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
- Russia and India sign deal to build urea plant in Russia 12/5
- U.S. liquid fuels groups announce progress on E15, small refinery exemption reform 12/5
- Million Air and Avfuel bring SAF to Austin, Texas (U.S.) 12/5
- Chinese refiners buy oil from storage, raise output with fresh import quota 12/5
