Asia/Pacific
South Korea petrochemical overhaul likely to shut small, stand-alone naphtha crackers
Small and stand-alone naphtha crackers are likely to shut while some plants could merge as part of an overhaul of South Korea's oversupplied petrochemical sector, which will cut naphtha demand at the world's largest importer of the fuel.
India's ONGC plans to set up trading unit for crude, refined fuels for group firms
India's state-run Oil and Natural Gas Corp (ONGC) is planning to set up a trading unit for the crude and refined fuels of its group companies, a top executive at ONGC Videsh said.
China's carbon market to introduce absolute emissions caps from 2027
China will tighten its carbon trading market by introducing absolute emissions caps in some industries for the first time starting by 2027, China's cabinet said.
Vietnam to make switch to ethanol-blended fuel in move to boost U.S. imports
The Ministry of Industry and Trade has submitted a proposal to the government to switch to E10 - a blend that mixes gasoline with up to 10% of bioethanol.
Saudi Arabia and India were biggest buyers of Russian fuel oil, VGO in July
Since the European Union's full embargo on Russian oil products took effect in February 2023, Middle Eastern and Asian countries have become the main destinations for Russia's fuel oil and VGO supplies.
Canada's Alberta eyes investment in Japan's refining to boost oil exports
Canada's main oil-producing province of Alberta is considering a financial investment in Japan's refining sector, an attempt to reduce its overwhelming dependence on top trade partner the U.S. for oil exports.
China's Sinochem to sell two bankrupt refineries to local operators
The acquisitions, which come during a consolidation of the world's largest refining base, would see the new owners step up crude imports and resume operations at the troubled plants, lifting oil purchases at the world's top importer.
CNOOC completes construction on $2.9-B, 1.8-MMtpy integrated complex in east China
China National Offshore Oil Corp has completed building a $2.9-B, 1.8-MMtpy integrated refining and petrochemical complex in eastern China
Chinese independent refiner Hongrun buys Canadian, Brazilian crude
Chinese independent refiner Hongrun Petrochemical has bought crude from Canada and Brazil for its Changyi refinery that recently secured an import quota.
thyssenkrupp Uhde completes pre-FEED for HAMR Energy’s renewable fuels project in Australia
The project, located in Victoria, Australia, will use biomass residues and renewable electricity to produce green methanol that can be used as a low carbon liquid fuel to power shipping and aviation.
- 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
- Addis Energy secures $8.3 MM to scale its transformative approach to low-cost ammonia production 12/5
- World Fuel Services supplies cruise line with waste-based biofuels 12/5
- Chevron announced $18 B-$19-B CAPEX budget for 2026 12/5
- Russia and India sign deal to build urea plant in Russia 12/5
