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Venezuela and China Amend Oil-for-loans Agreement
(Tuesday, November 25, 2014) Venezuela and China have amended an oil-for-loans agreement to provide the OPEC nation more prompt payment for its oil shipments without substantially altering the terms of conditions of the bilateral deal.
China Sinopec Starts 16-mln-bbl Crude Storage Base in Hainan
(Tuesday, November 25, 2014) The start-up of the Sinopec tank farm came amid market talk that Chinese oil refiners may be taking advantage of low global oil markets to stock up.
Venezuela Ships First Crude Mixed with Algerian Oil to China
(Friday, November 21, 2014) Venezuela is sending its first shipment of crude mixed with Algerian light oil to China, according to state oil company PDVSA and traders.
Japan Refiners Headed Towards Consolidation After 2017 -Analysts
(Thursday, November 20, 2014) Japanese refiners are planning to cut crude distillation capacities to meet a new government directive, but analysts say the moves will not forestall the need for them to consolidate at some point over the next several years.
COLUMN-China Energy Targets Show Intent, Pick Winners and Losers
(Thursday, November 20, 2014) The 2020 plan calls for a doubling in the use of natural gas, from 120.9 billion cubic meters (bcm) in 2013 to at least 245 bcm.
China Makes First Announcement on Strategic Oil Reserves
(Thursday, November 20, 2014) China made its first official announcement about the country's strategic petroleum reserve (SPR) on Thursday, saying the first phase of the government emergency stockpile is storing about 91 million barrels of crude oil.
Chubu Says No Need to Buy LNG on Spot Market This Winter
(Wednesday, November 19, 2014) Japanese utility Chubu Electric Power Co has enough liquefied natural gas (LNG) supply to postpone tapping the spot market for the entire winter, its head of trading said on Wednesday.
China's Rush to Green Vehicles Fuels Bubble Concerns
(Wednesday, November 19, 2014) China's electric vehicle sales surged five-fold in the first 10 months of 2014, powered by Beijing subsidies.
Asia Money and the U.S. LNG Business
(Tuesday, November 18, 2014) Will U.S. LNG export terminals become proverbial white elephants?
Sinopec to Spend Billions to Handle Oil Pipeline Safety Problems
(Monday, November 17, 2014) China's Sinopec pledges to spend $4.6 billion over three years to address safety concerns related to its oil pipelines.
Japan Oct Petrochem Naphtha Imports Rise 6 Pct y/y
(Friday, November 14, 2014) Japan's naphtha imports for the petrochemical sector rose 6 percent in October from the same month a year earlier, government figures showed on Friday.
China Cuts Retail Gasoline, Diesel Prices; 8th Reduction Since July
(Friday, November 14, 2014) China will cut the retail price of gasoline by 190 yuan ($31) per tonne and diesel by 180 yuan per tonne from Saturday to track falling international oil prices, the National Development and Reform Commission said on Friday.
S.Korean Refiners Consider Legal Action Over OW Bunker Losses
(Thursday, November 13, 2014) South Korea's two major refiners are considering legal action to recover losses tied to the collapse of the world's largest marine fuel supplier, Denmark's OW Bunker, which has started winding up its Singapore unit, industry sources said on Thursday.
COLUMN-U.S.-China Climate Statement Is No Breakthrough
(Wednesday, November 12, 2014) The joint statement by the United States and China on climate change, issued on Wednesday, is more important for its political and diplomatic symbolism than any practical effect it might have in reducing emissions.
Japan LNG Spot Price Rises to $15.30/mmBtu in Oct
(Wednesday, November 12, 2014) The gains are likely to prove short-lived as Asian buyers are facing the prospect of lower import costs for the first winter since the Fukushima nuclear crisis in 2011.
Japan Oct Ethylene Output Falls 4.5 Pct yr/yr
(Wednesday, November 12, 2014) Japanese ethylene production in October fell 4.5 percent from the same month a year earlier to 553,200 tonnes, data from the Ministry of Economy, Trade and Industry showed on Wednesday.
Japan Idemitsu Restarts Naphtha Cracker at Tokuyama Plant
(Monday, November 10, 2014) Japan's Idemitsu Kosan Co said on Monday it restarted the 687,000-tonne-per-year naphtha cracker at its Tokuyama plant in western Japan over the past weekend after an unplanned shutdown.
Japan Agrees to Extend UAE Crude Storage Deal
(Monday, November 10, 2014) The agreement allows UAE easy access to Asian markets while giving Japan priority access to reserves if Japan is in short supply of crude.
COLUMN-China Commodity Imports Don't Fit Soft Economic Narrative
(Monday, November 10, 2014) It's becoming increasingly hard to make Chinese commodity import data fit with the prevailing narrative of a softening in the world's second-biggest economy.
Veresen Talking to Japanese Buyers for Jordan Cove LNG
(Friday, November 07, 2014) Veresen expects to be able to ship LNG from the U.S. West Coast to Tokyo Bay for $11 per million British thermal units, Chief Executive Officer Don Althoff told Reuters.