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Top Lotte Lieutenant Found Dead Amid Probe Into Korean Group
(Friday, August 26, 2016) Lee In Won, Lotte Group's highest-ranking executive outside the founding family, was scheduled to meet with South Korean prosecutors who are investigating allegations of slush funds, embezzlement and tax evasion.
Trafigura's China Oil Marketer Released on Bail -Sources
(Thursday, August 25, 2016) An oil marketing executive of Swiss trading giant Trafigura's China operation was released on bail this month after more than two years in detention, sources with knowledge of the matter said.
South Korea to Start Trading with Iran in Euro on Aug 29
(Thursday, August 25, 2016) Up till now, South Korea's purchases of Iranian oil and payments for construction projects in Iran have been settled in the won, restricting business activities.
China Targets Teapot Oil Refineries in Tax Crackdown -Sources
(Tuesday, August 23, 2016) China's crackdown on alleged tax evasion in the oil industry will target independent refineries and follows complaints by state energy giants, in the first major sign of growing tensions between established players and their upstart rivals.
China Refiners, Petrochemical Companies to Propose CO2 Benchmarking Plan
(Tuesday, August 23, 2016) China's oil refining, petrochemical and chemical companies will propose a plan to benchmark their carbon dioxide (CO2) emissions as the first step toward setting up an emissions market for the sector, the group's industry association said on Tuesday.
S.Korea's KOGAS Aims to Supply LNG through Own Output -Media
(Monday, August 22, 2016) Korea Gas Corp (KOGAS), South Korea's sole purchaser of liquefied natural gas (LNG), is looking to take the fuel from its own overseas output to ensure a stable supply, Yonhap News Agency reported on Monday, citing KOGAS's chief executive.
Indonesian Acting Energy Minister Says Abadi LNG Remains a Priority Project
(Thursday, August 18, 2016) Indonesia's Acting Minister for Energy and Mineral Resources Luhut Panjaitan says the Abadi liquefied natural gas project in the offshore Masela block remains a priority project for the country.
China's Draft Pipeline Guidelines Seen Boosting Gas Demand
(Wednesday, August 17, 2016) China's latest attempts at reforming the country's extensive pipeline network are aimed at lowering prices for end users and boosting gas demand, analysts said Wednesday after the country released draft guidelines.
Gas Glut Upends Global Trade Flows as Buyers Find Leverage
(Tuesday, August 16, 2016) The market for LNG is about to attract more players and more trading as new supply from the U.S. and Australia strengthens buyers' bargaining power.
Nissan Revolution: Could New Petrol Engine Make Diesel Obsolete?
(Monday, August 15, 2016) Japanese automaker Nissan Motor Co has come up with a new type of gasoline engine it says may make some of today's advanced diesel engines obsolete.
S.Korea's July Iran Crude Imports Jump Over 285 Pct y/y
(Monday, August 15, 2016) Seoul brought in 1.10 million tonnes of Iranian crude oil last month, or 260,910 barrels per day.
Japan's Idemitsu Defends Showa Shell Merger Opposed by Founding Family
(Monday, August 15, 2016) Japan's Idemitsu Kosan Co Ltd on Monday defended its planned merger with smaller rival oil refiner Showa Shell Sekiyu KK, in the face of opposition from the founding Idemitsu family.
Hyundai Oilbank Buys First Iranian Condensate for New Splitter - Sources
(Friday, August 12, 2016) Hyundai's plant is one of several to come online across Asia and the Middle East, boosting demand for condensate.
China's CNPC Starts Laying Fourth Shaanxi-Beijing Gas Pipeline
(Friday, August 12, 2016) The pipeline will start operations before October 2017, the company said in a statement.
Sinopec Studying BP's Terms for SECCO JV Exit Plan
(Wednesday, August 10, 2016) Sinopec is currently discussing the conditions put forward by British oil and gas major BP plc for its planned exit from their SECCO petrochemicals joint venture, a Sinopec spokesman told Reuters on Tuesday.
Idemitsu Family Issues Fresh Call for Management to End Showa Shell Merger
(Wednesday, August 10, 2016) The founding family of Japan's Idemitsu Kosan Co Ltd has made a fresh call on management to give up its plan to merge with rival oil refiner Showa Shell Sekiyu KK.
Iran Said in Talks to Sell Crude to Trafigura for China Teapots
(Monday, August 08, 2016) The potential sale of oil to teapots would help Iran's drive to expand market share in Asia after international sanctions were removed against the Persian Gulf state.
Idemitsu Resumes Operation of Hokkaido Vacuum Distillation Unit After Fire
(Monday, August 08, 2016) Japanese oil refiner Idemitsu Kosan Co said it has resumed operations on Sunday at the 24,000 barrel per day (bpd) vacuum distillation unit at its 160,000-bpd Hokkaido refinery, in northern Japan, after the unit caught fire earlier last week.
China Fuel Exports Hit Record in July, Crude Imports Up 1.2 Pct
(Monday, August 08, 2016) China's fuel exports rose to a record in July as easing demand growth and a surplus in refined oil products pushed refiners to increase shipments to overseas buyers.
Trafigura Extends Credit to China Teapots to Boost Crude Sales -Sources
(Friday, August 05, 2016) Trafigura has extended the credit period for two independent Chinese refiners to buy crude, marking a more aggressive push by the global commodity trader to feed the growing appetite of so-called "teapot" refiners to import oil, sources said.