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China to Grant 6.16M T Annual Crude Oil Import Quota to Ningxia Refiner
(Monday, August 03, 2015) China gives a preliminary go-ahead for the independent Ningxia-based refiner Baota Petrochemical Group to get an annual crude import quota of 6.16 million tonnes, or 123,200 barrels per day, according to the country's oil industry association.
Japan Exchange Says First LNG Forward Deal Done
(Friday, July 31, 2015) The first liquefied natural gas (LNG) non-deliverable forward deal has been struck on Japan's over-the-counter market, nearly a year after the trade was launched, according to the Japan OTC Exchange.
New China Crude Oil Tanks Due Online from End-August -Sources
(Thursday, July 30, 2015) State-owned and private companies will start up about 26 million barrels of new oil tanks in southern China in coming months, amid strong demand for storage from traders.
S.Korea's Lotte Chemical to Expand its Malaysia Naphtha Cracking Centre
(Thursday, July 30, 2015) South Korea's Lotte Chemical Corp said on Thursday the petrochemical firm would expand its naphtha cracking centre in Malaysia at a cost of 300 billion Korean won ($257 million).
Poor Margins, Plant Outage Make Iran Condensate a Hard Sell in China
(Thursday, July 30, 2015) Any attempt by Iran to sell to China millions of barrels of ultra light crude built up in tankers over the last 2-1/2 years of sanctions is likely to be thwarted by poor refining margins and an outage at a major importer of the oil.
Shell Sells Japan Refiner Stake for $1.4 Billion to Idemitsu
(Thursday, July 30, 2015) Royal Dutch Shell Plc agreed to sell a 33.24 percent stake in a Japanese refiner to Idemitsu Kosan Co. for about 169 billion yen ($1.4 billion).
South Korea's Hu-Chems to Invest $1 Bln on Chemical Plant in Malaysia
(Wednesday, July 29, 2015) Hu-Chems Fine Chemical Corporation, a unit of South Korea's Taekwang Industrial Group, plans to invest $1 billion to build a plant to produce ammonia, nitric acid and ammonium nitrate in Malaysia, the company said in statement on Wednesday.
Unsated by Crude Glut, Asian Oil Buyers Size Up Iran's Barrels
(Tuesday, July 28, 2015) In a region that'll account for more than half the growth in global oil demand this year, refiners are poised to be the winners.
COLUMN-China Switching to African Oil May Lead to Saudi Price Cut
(Tuesday, July 28, 2015) Chinese imports from Africa are expected to jump to 6.51 million tonnes (47.5 million barrels) in July, up about 41 percent from June, according to data compiled by Thomson Reuters Oil Research and Forecasts.
China's Energy Consumption Up 0.7 Pct in H1 - Energy Bureau
(Monday, July 27, 2015) China's total energy consumption rose 0.7 percent in the first half of this year from the same period in 2014, the energy authority said on Monday, with a decline in coal use offset by increases in oil, natural gas and renewable power consumption.
Mexico's Pemex to Ship 6 Mln Barrels of Crude to Japan Refinery
(Friday, July 24, 2015) Mexico's Pemex said on Friday it had agreed to ship six million barrels of its light crude to Japan's largest refinery over the next six months, as the state-run oil company seeks to further develop its ties with Asia.
China Central Bank Releases Details on Oil Futures Contract
(Friday, July 24, 2015) China laid out on Friday how its first crude oil futures will be settled, as the long-awaited contract edges closer to a launch.
China's Sinopec Sets Eyes on Europe with 2nd Jet Fuel Shipment -Sources
(Friday, July 24, 2015) China's Sinopec Corp is shipping its second ever jet fuel cargo to Europe, once considered a rare trade route, as the refiner looks to expand its global market share with demand lagging output levels at home, industry sources said.
Jiaxing to License Invista P8 Process Tech for PTA Line
(Friday, July 24, 2015) Jiaxing Petrochemical’s first PTA line, in operation since 2012, also utilizes INVISTA’s technology.
China's Oil Buying Rules Further Loosened Amid Record Imports
(Thursday, July 23, 2015) China's government is opening the door to the direct purchase of crude on the international market by independent refineries, known in the industry as teapots.
Douglas-Westwood: FLNG Market to Hit $58.3B by 2021
(Thursday, July 23, 2015) Douglas-Westwood expects the global floating liquefied natural gas market to grow to $58.3 billion in the 2015-2021 period despite the current pause in orders.
China Prepares 'California-style' Scheme for Green Cars
(Thursday, July 23, 2015) China is preparing a new scheme to encourage automakers and consumers to use electric and hybrid vehicles, learning lessons from California's efforts to promote a similar switch, the head of a major state-owned carmaker said on Thursday.
COLUMN-China's Rising Commodity Exports Changing Nature of Trade
(Thursday, July 23, 2015) The big growth in exports this year has been in semi-finished products, most of which fit into the broad definition of commodities. While not raw materials, these include steel, aluminium products and refined fuels.
Restart of Japan's Sendai Reactors to Cut LNG, Oil Use
(Thursday, July 23, 2015) The scheduled restart of Japan's first reactor in nearly two years next month would save around 850,000 tonnes of liquefied natural gas (LNG) per year, according to Reuters calculations based on data from the country's industry ministry.
Asian LNG Spot Prices Set to Drop Further as Supplies Flood Market
(Thursday, July 23, 2015) Asian spot prices for liquefied natural gas (LNG) already 60 percent off a record hit last year are set to fall further in the second half of 2015 as slowing demand comes up against a flood of supplies and oil prices remain weak.