Economics
U.S. naphtha exports surge to record high on Japanese, Venezuelan buying
Crude oil
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China's smaller independent refiners to curb output on rising oil prices
The so-called teapot refiners had benefited in recent months from cheap stocks of Russian and Iranian crude, but temporary U.S. waivers allowing purchases of Russian and Iranian oil stranded at sea for 30 days have driven prices for those barrels sharply higher as buyers, especially Indian refiners, rush to secure supply.
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Construction Boxscore: Project Spotlight
Project:
Long Son Petrochemicals Complex
Location:
Long Son, Vietnam
Operator:
Siam Cement Group
Cost:
$5.4 B
Capacity:
1.65 MMtpy
Completion date:
2023
Status:
Under Construction
