Asia/Pacific
China’s stimulus may briefly boost gasoil margins for Asian refiners
There are two main factors at work that are improving the outlook for the region's major industrial and transport fuel, namely the expectation of stimulus spending in China and refinery maintenance in the region, as well as the Middle East.
Saudi Aramco mulls proposals to invest in Indian downstream projects
India's oil minister met earlier this month with Saudi Aramco chairman Khalid al-Falih and sought Saudi investment in a planned 1.2-MMbpd refinery on India's west coast, the expansion of the Bina refinery and a petrochemical plant at Dahej.
Bangladesh to cut prices for gasoline, kerosene, diesel by up to 10%
Prices of petrol and 95-octane gasoline have now been reduced by 10 taka/liter and diesel and kerosene by 3 taka/liter, said Nasrul Hamid, junior minister for power, energy and mineral resources.
Indian refiner Reliance seeks more Iranian oil
The company had made small purchases from Iran in the current quarter and was currently engaged in talks for bigger supplies, indicating that it could also get into a long-term supply contract.
Indian Oil, CB&I commission landmark FCC unit at Paradip refinery
The start-up is a major landmark for the petroleum industry and represents one of the largest single-train, high olefin yield FCC units globally, according to project officials.
China’s Sinochem Hongrun sells first fuel export
Sinochem Hongrun, partly owned by state-run Sinochem Corp., sold a 35,000-ton cargo of 92-octane gasoline to trading house Trafigura, the sources said, and it was being loaded on Wednesday.
Indonesia’s Pertamina to pick partner in April for $12B Tuban refinery
Pertamina is currently in talks with Saudi Arabian national oil giant Saudi Aramco, China's Sinopec Corp., Kuwait Petroleum International (KPI), Russia's Rosneft and a consortium involving Thailand's PTT Global Chemical and Thai Oil, said Pertamina refineries director Rachmad Hardadi.
Chinese diesel exports rise over 300% from 2015
Gasoline exports rose 9.1% in March from a year earlier to 670,000 tons, while kerosene exports fell 7.4% on year to 1.03 million tons, the Chinese data showed.
Asian refiners buoyed by rising jet fuel demand
A draw down in excess jet fuel stocks will provide a rare pillar of support for Asia's massive refining sector that has been hit by poor profits, given weak demand for diesel.
Bangladesh to more than triple refining capacity
The new unit at Patenga refinery in Chittagong will cost $1.7 billion, said Nasrul Hamid Khan, Bangladesh's junior minister for power, energy and mineral resources.
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- 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
