Asia/Pacific

Hengli Oilchem to begin voluntary liquidation

Privately controlled Chinese refining and petrochemical manufacturer Hengli Group said that Sinochem Group and itself were winding up their Singapore-based JV, Hengli Oilchem, due to business and strategic considerations.

Reliance increased oil imports in July by 6% to nearly 1.1 MMbpd

India's Reliance Industries Ltd, the operator of the world's biggest refining complex at Jamnagar in western Gujarat state, increased oil imports in July by about 6% to 1.09 MMbpd.

Australia's Ampol beats profit and dividend estimates, shares rise

Russia's September Urals discount begins to widen as India slows purchases

Spot discounts for Russian crude for September loading have started to deepen as India, a key customer of Moscow, reduces purchases due to high prices and maintenance outages at some refineries, four traders and Indian refinery officials said.

China oil buying frenzy cools as record inventory shields it from price rally

China, the world's top crude importer, is drawing on record inventories amassed earlier this year as refiners scale back purchases after OPEC+ supply cuts drove global prices above $80 a barrel, traders and analysts said.

Asia's refiners face profit crunch as Kuwait cuts crude exports

Asian refiners are on the hunt for crude oil to replace Kuwaiti supply as the OPEC producer cuts exports by nearly a fifth to feed its huge new refinery, which is driving up prices for other sour crudes and likely to squeeze profit margins.

China's July diesel exports surge amid strong margins, weak domestic recovery

China's exports of fuel products more than doubled in July from a year earlier, data showed, as refiners maintained high run rates and took advantage of strong export margins.

China makes rare draw on crude oil inventories as imports slip

China made a rare draw on crude oil inventories in July as imports softened and refinery processing remained elevated to meet rising domestic demand and a surge in refined fuel exports.

Braskem and SCG Chemicals join forces for bio-based ethylene project in Thailand

Braskem and SCG Chemicals have signed a joint venture agreement to create Braskem Siam Company Limited. This joint venture aims to produce bio-ethylene from bio-ethanol dehydration and to commercialize “I’m green” bio-based polyethylene, using the EtE EverG reen technology.

Oil rises as China seeks to soothe economic woes

Oil prices rose more than 1% after China's central bank sought to stem the rising tide of pessimism over the country's property market and wider economy.