Asia/Pacific

China refiner moves forward with expansion despite sanctions

A Chinese refinery operator whose main business was disrupted when it was sanctioned by Washington in May for buying Iranian oil is pressing ahead with a $3.6-B petrochemicals expansion project.

Opinion: G7’s Russian oil tanker ban shows teeth, but bite is in doubt

The G7’s proposed plan to bar tankers from hauling Russian oil ups the ante in the West’s economic stand-off with Moscow, but the ultimate bite hinges on whether governments will ratchet up punishments on those skirting sanctions.

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.

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.