Asia/Pacific
Fluor awarded contract for Chevron manufacturing facility in China
IRVING, Texas – Fluor Corporation announced that Chevron (China) Chemicals Co., LTD. has selected Fluor to perform front-end engineering and design (FEED) work for a manufacturing facility in Ningbo, Zhejiang, China. Fluor booked the undisclosed contract value in the fourth quarter of 2016.
Shell agrees sale of Australia aviation business to Viva Energy
Shell has signed an agreement with Viva Energy Australia Pty Ltd for the sale of Shell Aviation Australia Pty Ltd for a total transaction value of approximately $250 million. It follows the sale of Shell’s other downstream activities in the country to Viva Energy in 2014.
By shielding biggest buyer Asia from supply cuts, OPEC risks prolonging fuel glut
SINGAPORE (Reuters) -- OPEC's efforts to hold market share in Asia by keeping its customers, which take about two-thirds of its exports, supplied amid wider output cuts could prolong the global fuel glut and frustrate its attempt to bolster prices.
Idemitsu buys fewer Showa Shell shares after family opposes deal
TOKYO (Reuters) -- Idemitsu Kosan Co said on Monday it completed the purchase of just under a third of rival refiner Showa Shell Sekiyu KK, cutting the amount of shares it planned to buy after facing opposition from Idemitsu's founding family.
Indonesia assigns Pertamina to build Bontang refinery
JAKARTA (Reuters) -- The Indonesian government has assigned state energy company PT Pertamina to build and operate a refinery at Bontang in East Kalimantan in a bid to speed up development of the project, a state official said on Friday.
Thai IRPC to invest $280 MM to expand petchem output capacity
BANGKOK (Reuters) -- Thailand's integrated oil refiner IRPC Pcl plans to invest $280 million next year with an aim to expand the production capacity of a petrochemical product and boost its long-term earnings growth, a top executive said.
CB&I announces alkylation and hydrocracking awards in China
THE WOODLANDS, Texas -- CB&I announced it has been awarded two contracts for a grassroots refinery in China. The scope of work includes the license and engineering design of an alkylation unit and two Chevron Lummus Global (CLG) diesel hydrocracking units along with catalyst supply.
India's diesel demand boosts rare imports of the fuel
SINGAPORE (Reuters) -- A rise in diesel demand is boosting India's rare imports of the industrial and transport fuel, helping to mop up some of the excess supply of the fuel in Asia, traders said on Wednesday.
CNOOC to start new Huizhou refinery in Q2, plans Saudi supply
BEIJING (Reuters) -- China National Offshore Oil Corp, or CNOOC, is expected to start operating a new refinery in southern China in the second quarter of 2017, with Saudi Arabia as the potential crude supplier, three sources familiar with the plan said on Wednesday.
CNPC plans to cut HQ staff by 20% in efficiency drive
BEIJING (Reuters) -- China National Petroleum Company plans to cut staff at its Beijing headquarters by 20%, the company said in a post on its social media blog on Tuesday, the latest move in an efficiency drive by the country's top state energy group.
- U.S. labor board judge rules Exxon's Texas refinery union lockout was legal 11/28
- U.S. crude stocks fall, gasoline and distillate inventories rise 11/28
- Maersk could use 15%–20% alternative fuels for its fleet in 2030 11/28
- Germany's BSW pushes to restore Russian oil to Schwedt refinery, seeks regional legitimacy 11/28
- Asia likely to benefit from cheaper Canadian, Mexican oil if Trump imposes tariffs 11/28
- Singapore distillates stocks tick up for fifth week 11/28
