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Tepco, Chubu Expected to Buy 6 LNG Cargoes from Vitol, GDF Suez-Traders
(Friday, January 23, 2015) Japan's Tokyo Electric Power Co and Chubu Electric Power Co,, are expected to buy a total of six cargoes of liquefied natural gas (LNG) from Vitol and GDF Suez in their first joint tender, three traders said on Friday.
COLUMN-Oil Price Plunge Should Prompt New Fuel Taxes in Asia
(Friday, January 23, 2015) One worthy side-effect of the plunge in crude oil prices is that several Asian governments have ended costly fuel subsidies, but it's time to go further and impose higher taxes, argues Reuters columnist Clyde Russell.
Chevron Lines Up New Gorgon LNG Sales to South Korea
(Wednesday, January 21, 2015) Chevron Corp, which has been struggling to lock in long-term sales contracts for its Australian liquefied natural gas, said it has lined up South Korean conglomerate SK Group as a new customer from its $54 billion Gorgon LNG project.
Russell: A Few Rays of Sunshine Break Through Coal's Storm Clouds
(Monday, January 19, 2015) The new year has started positively for Asian coal, with prices rallying from a 5-1/2 year low, Chinese imports jumping to the highest in 11 months and renewed merger and acquisition interest.
Japan Refiners May Post $4 Bln Inventory Loss As Oil Plunges
(Friday, January 16, 2015) Japan's five biggest oil refiners may post more than $4 billion in inventory losses in their 2014 business years due to the 60 percent plunge in global crude prices since June, according to two analysts.
Japan Dec Petchem Naphtha Imports Rise 15 Pct y/y
(Friday, January 16, 2015) Japan's naphtha imports for the petrochemical sector rose 15 percent in December from the same month a year earlier, government figures showed on Friday.
Badger to Provide Tech for China Grassroots BPA Plant
(Wednesday, January 14, 2015) The new bisphenol-A (BPA) plant is under construction and is scheduled for mechanical completion and startup in 2015.
China Coal-chemicals Project Goes to Amec Foster Wheeler
(Wednesday, January 14, 2015) Amec Foster Wheeler Tuesday announces the award of a three-year project management contract by Shenhua Ningxia Coal Group for the Coal-chemical Byproduct Deep Processing Complex Utilization Project in the Ningxia Hui Autonomous Region in China.
S.Korea's 2014 Iran Crude Imports Fall, Within Sanctions Limit
(Wednesday, January 14, 2015) Of South Korea's four refiners, only SK Energy Co Ltd and Hyundai Oilbank Co Ltd import Iranian oil and their imports fluctuate each month.
S.Korea to Seek Removal of Indicted Chief of State-run Gas Firm
(Thursday, January 08, 2015) South Korea's energy ministry said on Thursday it would ask the president to sack state-run Korea Gas Corp's president and chief executive, Jang Seok-hyo, after he was indicted last month on charges of bribery and breach of duty.
MPA Says No More Oil Spill from Tanker-Bulk Carrier Collision Off Singapore
(Wednesday, January 07, 2015) Singapore's Maritime and Port Authority receives no further reports of oil leakage from the Libyan-flagged tanker Alyarmouk after the latter collided with a bulk carrier offshore Singapore late last week.
Japan Refiner TonenGeneral to Build Mixed Xylene Unit
(Tuesday, January 06, 2015) Japan's second-biggest oil refiner by capacity is considering building a mixed xylene recovery unit at its Kyokuto Petroleum Industries' (KPI) 152,000-barrel-per-day Chiba refinery, located east of Tokyo, the company's top official said.
S.Korea to Shut Four of 11 Naphtha Crackers in 2015 for Maintenance
(Tuesday, January 06, 2015) South Korea is expected to shut four naphtha crackers with a total capacity of 3.76 million tonnes per year (tpy) of ethylene for month-long maintenance in 2015, more than double the capacity shut last year, trading sources said on Tuesday.
Japan's JX, Showa Shell to Keep Iran Crude Volumes Steady to Last Year
(Tuesday, January 06, 2015) Two of Japan's biggest buyers of Iranian crude, JX Nippon Oil & Energy Corp and Showa Shell Sekiyu KK, are set to keep their purchases from Tehran largely steady in 2015, their top officials said on Tuesday.
Indonesia's New Energy Governance Team Recommends Petral Shake-Up
(Tuesday, December 30, 2014) Petral should undergo a management shake-up, forensic audit and be stripped of its right to handle oil imports, the country's new oil and gas governance team recommends.
KOGAS CEO Indicted for Bribery, Breach of Duty -Prosecution Official
(Friday, December 26, 2014) A South Korean district prosecutors' office has indicted the president and chief executive of Korea Gas Corp (KOGAS) for taking bribes and committing breach of trust.
Asian Imports of Iran Crude Rise Above 1 Million bpd in November
(Friday, December 26, 2014) Asian imports of Iranian crude climbed above 1 million barrels per day (bpd) in November, after dropping to a one-year trough below that level in the previous month, as higher seasonal demand during winter boosted purchases.
Petrobras Hit with U.S. Class Action Suit Over $98 Bln in Securities
(Friday, December 26, 2014) Brazil's state-run oil company Petroleo Brasileiro SA and some of its executives were hit with a U.S. class action lawsuit by investors in $98 billion of the company's securities over an alleged kickback and bribery scheme.
Japan's JX Plans Jan Crude Refining Down 5 Pct y/y
(Thursday, December 25, 2014) Japan's top oil refiner JX Nippon Oil & Energy Corp said on Thursday it would refine 5 percent less crude oil for domestic consumption in January than in the same period a year ago.
Mitsubishi Heavy Says Considering Splitting Off Shipbuilding Business
(Wednesday, December 24, 2014) Japan's Mitsubishi Heavy Industries Ltd (MHI) said on Wednesday it was considering a range of options for its shipbuilding business, including splitting it off into a separate company.