Asia/Pacific
INPEX extends MoU with Persero for Abadi LNG project in Indonesia
INPEX has extended a MoU with PT Pertamina (Persero) (Pertamina) on a strategic collaboration to proactively pursue the implementation of the Abadi LNG Project in Masela Block in the Arafura Sea in Indonesia.
China's smaller independent refiners to curb output on rising oil prices
The so-called teapot refiners had benefited in recent months from cheap stocks of Russian and Iranian crude, but temporary U.S. waivers allowing purchases of Russian and Iranian oil stranded at sea for 30 days have driven prices for those barrels sharply higher as buyers, especially Indian refiners, rush to secure supply.
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.
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- Philippines receives rare Iranian crude cargo after wartime disruption 5/29
- Gazprom and Sibur resume talks on possible ethane project to supply additional feedstock to the Kazanorgsintez petrochemicals plant 5/29
- European Commission debates policy shift to protect industry from China 5/29
- Mitsui seeks LNG investments to meet power demand from data centers 5/29
- Kenyan government backs Gulf fuel supply deals after opposition criticism 5/29
