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Oil Traders Prepare Flotilla to Ship U.S. Exports to Asia
(Friday, December 09, 2016) Oil traders and major producers are lining up a flotilla of carriers to ship more U.S. crude to Asia in December than in nearly two decades.
China Teapots to Extend Oil Buying Spree into 2017
(Thursday, December 08, 2016) China's small, independent refiners are set to raise their crude oil imports again in 2017 on expectations that Beijing will keep their intake quotas steady, market participants said, a move that should help eat up some of the global supply glut.
Japan's JERA Makes First-ever LNG Purchase from U.S. Mainland
(Thursday, December 08, 2016) JERA, a fuel joint venture between Tokyo Electric Power and Chubu Electric Power, said it bought the LNG from Cheniere Marketing International LLP, but did not give pricing details.
Japan Buys Up to 24,150 T of LPG for National Reserves
(Thursday, December 08, 2016) State-run Japan Oil, Gas and Metals National Corp (JOGMEC) has bought LPG for storage in its national reserves via a tender on Thursday, a government official said.
Asian Prices Pass $8/mmBtu First Time Since 2015
(Thursday, December 08, 2016) Asian spot prices for LNG rose to their highest since mid-2015 this week as a deal by OPEC and Russia to cut crude oil output lifted the entire fuel complex, with winter weather in the Northern Hemisphere supporting gas markets.
Japan, Saudi Aramco Extend Okinawa Crude Storage Deal
(Wednesday, December 07, 2016) State-run Japan Oil, Gas and Metals National Corp (JOGMEC) said it signed a contract with the world's top exporter Saudi Aramco on Wednesday to extend a crude oil storage deal on the island of Okinawa by three years.
Malaysia's Petronas, Japan's Hokuriku Electric Sign LNG Supply Deal
(Wednesday, December 07, 2016) Malaysian state-owned oil company Petroliam Nasional Bhd (Petronas) said it has agreed to supply up to six cargoes of liquefied natural gas a year to Japan's Hokuriku Electric Power Co for 10 years.
Japan's Idemitsu, Showa Shell Say Not Decided on Capital Tie-up
(Wednesday, December 07, 2016) Japanese oil refiners Idemitsu Kosan and Showa Shell Sekiyu said they have not decided on a capital and business tie-up as reported by some media organisations, and that they are still working towards an eventual merger.
Samsung Heavy Says $776.8 Mln Order for LNG Facility Cancelled
(Friday, December 02, 2016) Samsung Heavy Industries Co Ltd said on Friday that a 907.6 billion won ($776.8 million) order for a substructure for an LNG floating production, storage and offloading (FPSO) unit has been cancelled.
Socar Trading Expands Crude Team to Target Chinese Refiners -CEO
(Wednesday, November 30, 2016) Socar Trading plans to sell directly to Chinese refiners, the so-called "teapots", which were given import licenses in 2015.
China's CNPC to Split Natural Gas Sales Arm from Transportation Business
(Wednesday, November 30, 2016) A stand-alone gas transportation business under CNPC, which supplies nearly 80 percent of the country's gas market, will provide for greater third-party access to the country's gas grids, industry observers have said.
Japan's Idemitsu JV Plans to Expand LPG Use at Naphtha Cracker
(Tuesday, November 29, 2016) The upgrade will boost the cracker's capacity to process propane as feedstock by three or four times, said Hideki Gotoh, deputy general manager of Idemitsu's petrochemical business.
Biggest LNG Sellers Warn Top Buyer With Threat of Higher Prices
(Monday, November 28, 2016) The world's biggest LNG suppliers have a warning for Japan: flexibility will likely cost you.
China Launches Commodity Trading Centre in Shanghai, Eyes Asia Gas Hub
(Monday, November 28, 2016) China on Saturday formally launched a state-backed commodity trading center in Shanghai, as the world's top energy consumer looks to race ahead of other countries such as Tokyo and Singapore to become Asia's main gas pricing hub.
Lotte Chemical Considers Raising Yeosu Naphtha Cracking Centre Capacity
(Friday, November 25, 2016) Lotte Chemical Corp said on Friday it's considering raising output capacity at its Yeosu naphtha cracking center, confirming comments by South Korea's energy ministry, as Seoul urges petrochemical firms to boost competitiveness.
China's Shandong Province to Expand Oil & Gas Transportation Infrastructure
(Friday, November 25, 2016) The province now expects to increase port capacity and build pipelines for its 34 refineries which will have a total crude processing capacity of 160 million tonnes per year by the end of the five-year period to 2020, its economic planner said.
Russia Cements Leading China Oil Supply Position
(Friday, November 25, 2016) Russia is cementing its position as the main oil supplier to China, the world's biggest net importer and growth market for the fuel, taking over the lead from Saudi Arabia in the first 10 months of the year, customs data showed on Friday.
Japan's JBIC to Provide Loan to Novatek-led Yamal LNG Project
(Thursday, November 24, 2016) State-run Japan Bank for International Cooperation (JBIC) is set to provide a 200 million euro ($211 million) loan to the Yamal LNG project in Russia led by Novatek, JBIC's Chief Executive Officer Tadashi Maeda said on Thursday.
Taiwan CPC Buys Crude Before Startup of New Refining Units in Q1
(Thursday, November 24, 2016) Taiwanese refiner CPC Corp has purchased spot crude to prepare for the start-up of new refining units expected in the first quarter, three trade sources said on Thursday.
Global LNG Buyers, Sellers Meet as Japan Probes Contract Clauses
(Wednesday, November 23, 2016) A new Japanese regulatory probe into sales restrictions for LNG contracts will be at the forefront of discussion as the industry's biggest buyers and sellers gather in Tokyo this week.