Asia/Pacific
HSBC to arrange funds for $1.49-B expansion project at Vietnam's Binh Son refinery
Binh Son Refining and Petrochemical has chosen HSBC Bank as the export credit agency for a project to expand its Dung Quat refinery.
Singapore middle distillate stocks tumble to nearly three-month low
Singapore's middle distillates stocks slid to a nearly three-month low this week, falling below 11 MMbbl for the first time in a month as gains in jet fuel/kerosene net exports offset declines in diesel/gasoil net exports.
China's CNCEC to build 300,000-bpd Al-Faw refinery in Iraq
China's National Chemical Engineering Company (CNCEC) has inked a deal with the Southern Refineries Company to build a 300,000-bpd refinery in Al-Faw, Iraq.
Itochu to buy green ammonia from HIVE's $5.9-B Coega facility
A division of Hive Energy Ltd. announced that a consortium led by Japanese trading giant Itochu Corp. is on the verge of finalizing an agreement to purchase environmentally friendly ammonia from a project located in South Africa.
Govt.-backed Chinese refiner seeks oil import quota after restructuring
Jincheng Petrochemical, a newly restructured independent refiner controlled by the Liaoning provincial government in northeastern China, is seeking crude oil import quotas for its three plants.
HIF Global secures nearly $165-MM in investments to develop eFuels
HIF Global announced a combined investment from existing shareholders and the Japanese energy company Idemitsu Kosan, securing $164 MM to fund its eFuels projects.
Ethylene downcycle puts nearly 25% of capacity at risk of closure
A series of unprecedented challenges to the global ethylene industry means that as much as 24% of global capacity is now under some threat of permanent closure according to new research by Wood Mackenzie.
ADNOC delivers first bulk shipment of CCS-enabled, low-carbon ammonia to Japan
ADNOC has delivered the world’s first certified bulk commercial shipment of low-carbon ammonia enabled by carbon capture and storage to Mitsui & Co., Ltd. for use in clean-power generation in Japan.
Japan's Idemitsu books 41-B ($263-MM) yen loss on Vietnam's refinery in 2023/24
Japanese oil refiner Idemitsu Kosan said on Tuesday it booked a 41.1-B yen ($263 MM) provision for bad debt related to the Nghi Son Refinery and Petrochemical in Vietnam for the year ended March 31 due to heavy costs from rising U.S. interest rates.
Weak Asia refining margins see swing to crude from the Americas
The profit from turning a barrel of crude oil into fuels in Asia is at the lowest in seven months, which is leading refiners to turn away from expensive Middle East grades and seek cheaper alternatives from the Americas.
- KBR to provide technology for mega-scale ammonia plant in Angola 11/25
- Indian refiners' October crude processing up over 3% y/y 11/25
- Air Liquide strengthens partnership with TotalEnergies through renewable H2 project in France 11/25
- Hexagon collaborates with Microsoft to enhance industrial operations 11/25
- China issues extra crude oil import quota to teapot refineries 11/25
- McDermott achieves ISO 50001 Certification for energy management at four fabrication yards 11/25
