Asia/Pacific
India's Hindustan Petroleum posts biggest jump in quarterly profit in 9 yr
Indian state-owned oil refiner Hindustan Petroleum Corporation Ltd said it posted its biggest quarterly profit in nine years, helped by a fall in crude prices and higher refinery margins.
Oil falls 2% on weak U.S. and Chinese economic data
Oil prices fell about 2% to a one-week low as a political standoff over the U.S. debt ceiling stoked recession jitters in the world's biggest oil consumer, while rising U.S. jobless claims and weak Chinese economic data weighed.
China cuts second batch of 2023 fuel export quotas
China has decreased its second batch of export quota volumes for refined oil products, consultancies and trader sources said, focusing on local demand during the refinery overhaul season and boosting domestic sales amid poor export margins.
Japan's Eneos aims to double profit in 3 years with green energy plan
Japan's biggest oil refiner Eneos Holdings said it planned to more than double net profit to ¥310 B in three years and expand aggressively in green energy and climate-friendlier fuels.
GAIL plans $4.9-B ethane cracker in West India
GAIL Ltd, the country's top gas supplier, plans to build a $4.89-B ethane cracker near its LNG import plant in Western India as it seeks to meet an expected surge in demand.
More Iranian fuel being smuggled to Pakistan, petroleum dealers say
Petroleum dealers have flagged a surge in the smuggling of Iranian fuel to Pakistan, saying that up to 35% of diesel sold in the South Asian country has arrived illegally from Iran.
Pertamina defers some May gasoline cargoes to June
Indonesian state energy company PT Pertamina has deferred some of its gasoline deliveries for May to June after the high-demand season of Ramadan ended.
India govt panel proposes ban on diesel 4-wheeler vehicles by 2027
India should ban the use of diesel-powered four-wheeler vehicles by 2027 and switch to electric and gas-fueled vehicles in cities with more than a million people and polluted towns in order to cut emissions, an oil ministry panel is recommending.
India's April diesel sales soar, overall fuel consumption eases
India's fuel consumption eased in April from record highs seen the previous month, official data showed, but sales of diesel scaled a new peak indicating robust industrial activity in the world's third biggest oil consumer.
Vietnam's Binh Son refinery to borrow $754 MM for expansion plan
Vietnam's Binh Son Refining and Petrochemical will take $754 MM worth of loans for a project to expand its sole oil refinery and boost its annual crude oil processing capacity by more than 1 million tons, the company said.
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