Far East Headlines
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Russia LNG Plant Gets $12 Billion From China Amid Sanctions
(Friday, April 29, 2016) The $27 billion Yamal development has pushed ahead amid concerns that U.S. sanctions limiting financing may derail its attempts to borrow.

China's First Private-led Mega-refinery Planned Off East Coast
(Friday, April 29, 2016) The complex, to be built on an island near Shanghai, would include a 400,000 barrels per day refinery and a 1.4 million tonnes a year ethylene plant.

Rare Gasoline Cargo Heads from China to United States
(Thursday, April 28, 2016) "A lot of distillate goes from Asia to Latin America," one trader said. "But on gasoline, it's very unusual."

South Korea's LG Chem Says Duped Over $21 Mln Naphtha Payment
(Thursday, April 28, 2016) South Korea's biggest chemical company LG Chem said on Thursday it had sought help from authorities retrieving $21 million that it believed had been paid into a fake bank account to purchase a refined oil product.

COLUMN-China Stimulus May Give Temporary Boost to Gasoil Margins
(Thursday, April 28, 2016) It may prove only temporary relief, but Asian refiners appear set to enjoy higher margins in coming weeks for gasoil, the middle distillate that includes diesel and jet fuel.

For China, Friends Abroad Can Be Expensive
(Tuesday, April 26, 2016) China's struggling to digest all the oil being imported from Venezuela and elsewhere.

Costliest Crudes Get a Lift as Cars Crowd Beijing and Mumbai
(Monday, April 25, 2016) Oil producers are betting that auto-fuel demand will help keep their premium crude coveted by refiners.

Aramco in First Spot Crude Sale to Chinese Teapot Refiner - Source
(Monday, April 25, 2016) The reported sale signifies that the world's biggest exporter is trying to expand beyond its state-owned customers in China, a source with knowledge of the deal said.

China's Electric Car Subsidy Fraud Casts Doubt on Surging Demand
(Friday, April 22, 2016) The numbers may have looked too good to be true.

Shell Sidesteps Electric Bandwagon with Petrol-powered Concept Car
(Friday, April 22, 2016) "This project aims to see just how good we can be with something manufactured today," said Andrew Hepher, vice president of lubricant technology at Shell.

S. Korea's SK Innovation Sees Oil Refining Margins Steady in Q2
(Friday, April 22, 2016) South Korea's SK Innovation Co Ltd, owner of the country's largest oil refiner SK Energy, said Friday that first quarter operating income more than doubled on strong refining margins that they expect to maintain into this quarter.

S.Korea's S-Oil Says Refining Margins to Stay Healthy in Q2
(Thursday, April 21, 2016) South Korea's S-Oil Corp said on Thursday it expects refining margins to stay solid in the April to June quarter, as low oil prices will offset much of the impact from seasonally weak demand in Asia.

China Teapot Refinery Sinochem Hongrun to Ship First Fuel Export - Sources
(Wednesday, April 20, 2016) Independent plants, nicknamed "teapots" due to their relatively small processing capacity, were granted quotas to export refined fuel for the first time early this year, after first winning the rights in 2015 to import crude oil.

China's Sinopec Beihai LNG Terminal Starts Commercial Operations
(Tuesday, April 19, 2016) Sinopec Corp said on Tuesday that a receiving terminal of liquefied natural gas (LNG) has started commercial operations in Beihai, a city in the country's southwestern region of Guangxi.

Japan's Mitsubishi Sets Dates for Cracker Turnaround
(Tuesday, April 19, 2016) Japan's Mitsubishi Chemical Corp said on Tuesday it would conduct scheduled maintenance on a 539,000 tonnes-per-year naphtha cracker at its Kashima plant from May 9 to June 30.

Everyone in China Wants an SUV. That's a Problem
(Monday, April 18, 2016) China is determined to become the low-emissions electric-car capital of the world. Unfortunately, its car buyers aren't cooperating.

Largest-ever Diesel Cargo Heads to Europe - Traders, Reuters Data
(Monday, April 18, 2016) Europe is expected to receive its largest-ever diesel cargo after French refiner Total booked a super tanker to sail to the region even as it faces brimming storage tanks and wilting demand.

Japan Will Not Release Oil Products from National Reserves - Official
(Monday, April 18, 2016) Japan has no plans to release oil products from its Strategic Petroleum Reserves after earthquakes left more than 40 dead and damaged infrastructure on the southern island of Kyushu, a senior industry ministry official told Reuters on Monday.

Tokyo Gas Sees It Losing Market Share Due to Liberalisation
(Thursday, April 14, 2016) Tokyo Gas Co expects its market share to fall by a double digit amount over the long term as it loses its monopoly on retail city gas sales in its service districts next year, the head of Japan's biggest city gas supplier said on Thursday.

U.S. Says China to Scrap Some Export Subsidies
(Thursday, April 14, 2016) Chinese industries that have received subsidies include textiles, light industry, specialty chemicals, medical products, hardware, agriculture and advanced materials and metals, including specialty steel and aluminum products.




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