Asia/Pacific
India approves $3.4-B payout to state-run refiners for cooking gas losses
The compensation, approved by Prime Minister Narendra Modi's cabinet, would be paid to state-run Indian Oil Corp., Bharat Petroleum Corp. and Hindustan Petroleum Corp.
Clariant advances plastics stabilizer technology with expanded production and new applications
Clariant increases production capacity for Nylostab™ S-EED stabilizer with second production line in Cangzhou, China
Pakistan Refinery to buy its first Nigerian Bonny Light oil from Vitol
The 500,000-bbl, light-sweet crude cargo is expected to load later this month and arrive in Karachi by late September.
Exports of oil products by private Indian refiners
The South Asian nation became the top buyer of Russian seaborne crude after Moscow's 2022 invasion of Ukraine. Private refiners Reliance Industries and Nayara are Russia's top Indian oil clients.
Russia ships first naphtha cargo to Vietnam
Naphtha is a primary feedstock in the petrochemical industry for producing olefins and aromatics, which are then used to manufacture a wide array of products, including plastics, synthetics and various other chemicals, and also used for gasoline blending.
South Korea's YNCC to shut No. 3 ethylene cracker on poor market conditions
The length of the shutdown at the cracker in Yeosu, with a capacity of 470,000 metric tpy, is unclear.
India's Nayara exports first gasoline since sanctions
Russia-backed Indian refiner Nayara Energy has exported its first gasoline cargo since the privately-owned company was sanctioned by the European Union on July 18.
Indonesia, Taikun Petrochemical affirm commitment for $5.95 billion project
Indonesia signed a memorandum of understanding with PT Taikun Petrochemical to affirm a commitment to invest $5.95 B to build a petrochemical production facility in North Kalimantan, the economic ministry said.
India's IOC buys 7 MMbbl of U.S., Middle East crude after Russian oil pause
IOC's large spot crude purchase comes after the arbitrage window for U.S. crude to Asia opened and as Indian state refiners paused buying of Russian crude oil on narrowing discounts.
Pakistan to buy first-ever U.S. oil cargo in Cnergyico deal with Vitol
The West Texas Intermediate light crude cargo will be loaded from Houston this month and is expected to arrive in Karachi in the second half of October.
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