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China Diesel Exports Rise to Record as Refiners Boost Output
(Friday, October 21, 2016) China's fuel exports rebounded in September, with diesel hitting a record, as refiners increased output following seasonal maintenance.
S.Korea's GS Caltex Buys North Sea Forties Crude for Jan Arrival
(Friday, October 21, 2016) South Korea's GS Caltex Corp has bought a cargo of Forties crude oil from Europe's North Sea, a spokesman said on Friday, indicating that the arbitrage window for crude from the United Kingdom to Asia has opened.
Oil Tanker Carrying Naphtha Explodes at Southern China Port - Xinhua
(Thursday, October 20, 2016) An oil tanker carrying 3,400 tonnes of naphtha exploded during discharge at a southern Chinese port on Thursday and one person on board was missing, official Xinhua news agency reported.
Japan's JX Shuts Kashima Condensate Splitter, Reformer After Fire
(Thursday, October 20, 2016) Japan's top refiner, JX Nippon Oil & Energy Corp, said it shut the 63,500 barrels-per-day (bpd) condensate splitter and the 21,200 bpd No. 3 reformer at its Kashima refinery in eastern Japan on Thursday, after a fire at the reformer.
PetroChina Said to Mull Raising Gas Prices as NDRC Urges Supply
(Thursday, October 20, 2016) PetroChina Co. is considering raising non-residential natural gas prices, while China's top economic planner has urged major suppliers to raise output, as the country seeks to avoid shortages during the peak winter season.
COLUMN-Coal Exporters Wary of End to Chinese Benevolence
(Thursday, October 20, 2016) What Chinese politicians give they can just as easily take away.
Some Japan Trading Houses Eye Resuming Iran Oil Imports -Sources
(Wednesday, October 19, 2016) Conservative Japanese firms have so far held off taking Iranian crude due to a lack of internationally acceptable insurance coverage, but they reportedly are looking at ways of using cover provided by the Japanese government.
S.Korea's LG Chem Sees Acrylate Prices Rising after BASF Site Blast
(Tuesday, October 18, 2016) LG Chem Ltd, South Korea's largest chemical company, said on Tuesday that an explosion at German chemical maker BASF production site could push up global acrylate prices due to short supply.
Even at $100 For Coal, Asia's LNG Industry Struggles To Compete
(Monday, October 17, 2016) The LNG sector has watched with joy how thermal coal prices have soared this year, hoping that the unexpected spike would at last make LNG price competitive in Asia.
China Mega-Merger Seen Challenge to Giant's Oil Refining Grip
(Monday, October 17, 2016) A merger of Sinochem Group and China National Chemical Corp. would create a new oil-refining challenger to established state-run behemoths that dominate the country's fuel-making business.
LG Chem to Invest Around $260 Mln at Daesan for Ethylene by 2019
(Monday, October 17, 2016) LG Chem Ltd, South Korea's largest chemical company, said on Monday it will spend 287 billion won ($257.46 million) to add ethylene production to its Daesan naphtha plant by 2019, aiming to focus on lucrative items.
S.Korea's KNOC Halts Construction of Oil Storage After Blast
(Monday, October 17, 2016) Korea National Oil Corp (KNOC) on Monday said the government had told it to indefinitely halt construction of an underground storage tank following an accident late last week that killed two workers and injured others.
Petrobras Agrees to Sell Closed Okinawa Refinery to Taiyo Oil
(Monday, October 17, 2016) Petroleo Brasileiro SA said on Monday it had agreed to sell its mothballed Okinawa refinery and related assets to Japan's Taiyo Oil Co. for $129.3 million, according to a securities filing.
Showa Shell Says Buys 55 Pct of Japan's Iran Crude Imports in H1
(Friday, October 14, 2016) Japan imported 205,871 barrels per day (bpd) of Iranian oil in the first half of 2016, trade ministry data showed, meaning Showa Shell's imports during the period would be around 113,000 bpd.
ChemChina, Sinochem in Talks on Possible $100 Bln Merger -Sources
(Friday, October 14, 2016) Chinese state-owned chemical companies Sinochem Group and ChemChina are in discussions about a possible merger to create a chemicals, fertilizer and oil giant with almost $100 billion in annual revenue, three sources familiar with the matter said.
Europe's Wait for U.S. LNG May Be Decided in Chinese Coal Mines
(Thursday, October 13, 2016) Future shipments of LNG from the U.S. to northwest Europe may hinge on the actions of coal miners thousands of miles away.
China Overtakes U.S. Again as World's Top Crude Importer
(Thursday, October 13, 2016) China imported record volumes of crude oil last month, eclipsing the United States as the world's top buyer of foreign oil as Beijing's state reserves shipped in cheap crude to fill new storage tanks.
Idemitsu Delays Full Takeover of Showa Shell on Founding Family Opposition
(Thursday, October 13, 2016) Japanese refiner Idemitsu Kosan Co Ltd has put on hold its plan for a full takeover of smaller rival Showa Shell Sekiyu indefinitely after running into fierce opposition from the Idemitsu founding family.
Wave of Fresh Supply Spells New LPG Era in Asia - Dorian LPG
(Wednesday, October 12, 2016) Long a niche product used in petrochemicals, as well as for cooking and outdoor heating, LPG is entering a new era as a wave of supply from the U.S. shale boom cuts prices, spreading its use in emerging markets, a major shipper said.
South Korean Shipbuilders Eyed for LNG Carriers Deal Worth $3.8 Billion
(Wednesday, October 12, 2016) A little-known investment company said it intends to order up to 20 LNG carriers, probably from South Korean shipbuilders.