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Japan's Jera Signs Flexible LNG Supply Deal with EDF Trading
(Thursday, May 26, 2016) Japan's Jera Co said on Thursday it had signed a contract to supply LNG to EDF Trading in Europe, marking the first deal where it can adjust sales volumes to match its own needs.
From Hinterland to Wonderland: China's 'Teapot' Refinery Boomtowns
(Wednesday, May 25, 2016) For Zheng Ruifeng, the 25-year-old son of a wheat farmer from eastern China, acceptance at a technical school specializing in petrochemical engineering was a life-changing event.
Oil's Recovery Under Threat as Tankers Run in Circles Off China
(Tuesday, May 24, 2016) Teapot refineries are now driving Chinese crude purchases after the government allowed them to buy overseas supplies directly.
Energy Group CEFC to Lease Crude Storage to ChemChina for Strategic Reserve
(Tuesday, May 24, 2016) CEFC China Energy, a group with interests spanning oil, finance and travel, has agreed to lease out tanks at its new facility in the southern island province of Hainan to state-owned ChemChina to help build the country's strategic reserves.
Biggest LNG Buyer Pays Least Since 2005 For Fuel as Prices Slump
(Monday, May 23, 2016) Japan, the world's biggest buyer of LNG, paid the lowest price in about 11 years for the fuel last month amid a global oversupply.
China's Cheaper Coal Seen Slowing Switch to Cleaner Natural Gas
(Friday, May 20, 2016) One analyst estimates the average cost of power generation from natural gas is three times that of coal.
S. Korea Lotte Chem to Restore Runs at Yeosu Naphtha Unit in 2 Wks
(Thursday, May 19, 2016) South Korea's Lotte Chemical is expected to restore normal runs at its naphtha cracker in Yeosu in about two weeks after technical problems led to cuts in operating rates at the 1 million tonnes per year (tpy) unit, trade sources said.
COLUMN-China's Surging Crude Oil Imports for Storage May Ease
(Wednesday, May 18, 2016) China appears to be stockpiling crude oil at a faster pace than the market had expected, taking advantage of low prices but perhaps also pulling forward its demand for imported crude.
Saudi Aramco Agrees 1st LPG Term Contract with China Chemical Firm
(Monday, May 16, 2016) The contract, for supplies on a free-on-board basis, was worth about $200 million a year, said China Wanhua Chemical Group Ltd.
Refiners Struggle to Stay Afloat As Asia Drowns in Gasoline
(Friday, May 13, 2016) Singapore's benchmark gasoline margins - long the bright spot for Asia's oil processors - have more than halved since the beginning of 2016.
Russian ESPO Crude Falls Out of Favour with China Teapot Refiners
(Friday, May 13, 2016) China's independent refiners have switched to buying more oil from Africa and Latin America instead of large volumes of Russia's ESPO crude as they have struggled to cope with the excess light fuels that come with processing the grade
CNPC to Start Laying Second China-Russia Oil Pipeline in June
(Thursday, May 12, 2016) China National Petroleum Corp., the country's biggest oil and gas producer, will start laying a second domestic oil pipeline in June to allow for increased Russian crude supplies to flow to China's northeastern city of Daqing.
China Enviro. Protests Force Halt to Studies for Industrial Park Project
(Thursday, May 12, 2016) Authorities in an eastern Chinese city have vowed to halt studies for a petrochemical industrial park project planned jointly with a Singapore company, following a wave of protests over possible health and environment risks.
Japan's Inpex to Cut Investment in Response to Lower Energy Prices
(Thursday, May 12, 2016) "The majority of investment is on Ichthys, and as it nears the end of Ichthys project, the investments are declining," Inpex Managing Executive Officer Masahiro Murayama told reporters. "But we are making drastic cuts in other projects."
Petronas Launches Hull for PFLNG2 at South Korea Shipyard
(Wednesday, May 11, 2016) PETRONAS launches hull for its second floating liquefied natural gas facility at Samsung Heavy Industries yard in Geoje Island, South Korea.
Mexico's Pemex Boosts Crude Shipments to Japan Through Spot Sales
(Wednesday, May 11, 2016) The cargoes of Maya and Isthmus crudes will arrive in Japan from May through June after loading at Mexico's Dos Bocas and Salina Cruz terminals, according to Thomson Reuters data.
One Worker Killed in Accident at Rosneft's Komsomolsk Refinery in Far East
(Tuesday, May 10, 2016) One worker was killed in an accident at oil company Rosneft's Komsomolsk refinery located in Russia's Far East, the refinery's press-service said in emailed statement on Tuesday.
China to Adjust Oil Subsidy Policy - Xinhua
(Tuesday, May 10, 2016) China is undertaking a restructuring of oil subsidies policy, according to a circular jointly issued by the State Council, Ministry of Finance, and three other ministries, the official Xinhua News Agency reported on Tuesday.
Japan's Mitsubishi Chem Shuts Cracker as Planned
(Monday, May 09, 2016) Japan's Mitsubishi Chemical Corp said it shut a 539,000 tonnes-per-year naphtha cracker at its Kashima plant on Monday as scheduled for planned maintenance.
Sinopec Group Appoints Dai Houliang as General Manager
(Monday, May 09, 2016) State-run China Petrochemical Group (Sinopec Group) has appointed Dai Houliang as its new general manager, the company announced on Monday.