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China Warns Against 'Blind' Rush To Build Coal-To-Gas Plants
(Tuesday, July 22, 2014) China warns operators against "blindly" developing projects to turn coal into synthetic fuel.
Sources: S. Korea Refiners to Trim Output in August on Weak Margins
(Monday, July 21, 2014) Refineries in South Korea are gearing up to trim output in August on persistently weak margins and as some units are shut for maintenance.
China's Oil Imports from Iran Rise Nearly 50 Pct Jan-June
(Monday, July 21, 2014) China's crude imports from Iran in the first half of the year were up nearly 50 percent, although shipments in June dropped nearly a third from May to the lowest level in four months.
Russia's Asian Crude Export Price Hit by Higher Supply, Sanctions -Trade
(Friday, July 18, 2014) Russia is offering more crude oil for exports to Asian markets after a fire at a refinery near its Pacific coast, but higher supply and nervousness about tougher sanctions over Ukraine is weighing on prices.
S.Korea's POSCO to Sell 3 Units to Improve Balance Sheet
(Thursday, July 17, 2014) South Korean steelmaker POSCO will pursue the sale of three units, including an LNG terminal, in order to improve its financial structure.
China Studies Floating Gas Plants for South China Sea
(Wednesday, July 16, 2014) Chinese energy giant CNOOC Group is studying the possibility of building a multi-billion-dollar FLNG vessel, as-yet untried technology that would likely be used to produce gas from the deep waters of the South China Sea.
China Oil Demand Hits Highest in 17 Mths, Still Doubts on Strength
(Wednesday, July 16, 2014) China's implied oil demand rose in June to its highest level since January 2013 as crude runs hit a record high, although there were still doubts that the numbers reflected a healthy economy.
POSCO May Sell A Stake in S.Korea LNG Terminal - Company Official
(Wednesday, July 16, 2014) South Korean steelmaker POSCO is considering selling as much as 49 percent of its liquefied natural gas (LNG) terminal in the southwestern city of Gwangyang, a company official told Reuters on Wednesday.
Thailand Turns Off Tap on Gas Imports as Economy Falters
(Monday, July 14, 2014) Thailand is cutting natural gas imports after consumption growth in Asia's fourth-largest user of the fuel has sagged to two-decade lows, threatening to idle costly fuel import facilities and force suppliers to turn to rival buyers such as China.
Tianjin Port Says Finds No Petrochem Fraud Following Media Reports
(Monday, July 14, 2014) China's Tianjin Port Holdings has found no evidence of an alleged fraud involving petrochemicals reported by media earlier this month, the company said in a statement on Monday.
U.S. Sets Duties on South Korean Steel Pipe in About-face
(Friday, July 11, 2014) The U.S. Commerce Department on Friday set duties on South Korean steel pipe used in the oil and natural gas industry, reversing itself in one of the most contentious trade disputes in years after hefty lobbying.
Technip, Wijaya Karya Clinch EPC Deal for Pertamina's Matindok Gas Project
(Thursday, July 10, 2014) Technip and partner PT Wijaya Karya clinch an engineering, procurement, construction and installation project from Pertamina for the Matindok gas development in Central Sulawesi, Indonesia.
Japan's MOL to Launch Arctic Ocean LNG Route from Russia's Yamal in 2018
(Wednesday, July 09, 2014) Japan's Mitsui OSK Lines Ltd (MOL) said on Wednesday that it will start transporting liquefied natural gas (LNG) through the Arctic Ocean in 2018 using icebreaker LNG tankers.
Sinochem Says Quanzhou Refinery Starts Formal Operation
(Wednesday, July 09, 2014) State-run Sinochem has put into formal operation its first fully-owned refinery, the 240,000 barrels-per-day Quanzhou plant, after test runs since January, the company said on Wednesday.
China to Suspend Sales Tax on Green Cars from Sept 1
(Wednesday, July 09, 2014) China will stop levying sales tax on approved models of green cars from September 1 through to the end of 2017, the country's cabinet said on Wednesday, in the latest government effort to tackle pollution.
Sinopec Shuts Condensate Splitter as Pipeline Corrodes
(Tuesday, July 08, 2014) Sinopec shuts a condensate splitter for an indefinite period after a connected pipeline is found corroded during a safety inspection.
Inpex Launches FPSO Hull for Ichthys LNG Project
(Tuesday, July 08, 2014) Inpex launches hull of the floating production, storage and offloading facility for the Ichthys gas project at Daewoo Shipbuilding and Marine Engineering shipyard in Okpo, South Korea.
Japan's Showa Denko Halts Naphtha Cracker After Compressor Problem
(Tuesday, July 08, 2014) Japan's Showa Denko KK said it halted its 691,000 tonnes per year naphtha cracker in Oita, southwestern Japan, on Tuesday afternoon following a problem with the compressor.
Companies Break Ground on China MDI Plant
(Thursday, July 03, 2014) BASF, Huntsman, Shanghai Hua Yi (Group) Company, Shanghai Chlor-Alkali Chemical Co. Ltd. and SINOPEC Group Assets Management Corporation held a ceremony Tuesday kicking off the construction of a crude MDI plant.
Petrochemicals Latest China Commodity To Be Hit By Potential Fraud
(Thursday, July 03, 2014) Chinese petrochemical imports have become the latest commodity financing tool to come under investigation for possible fraud, highlighting the risks from the widespread use of raw materials as collateral to raise loans and skirt credit restrictions.