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Tokyo Gas to Build Second LNG Tank Terminal in Hitachi
(Thursday, March 26, 2015) Tokyo Gas Co, Japan's biggest natural gas utility, said on Thursday it would build a second liquefied natural gas (LNG) tank at a receiving terminal northeast of Tokyo, to meet growing demand in the area.
Chinese Tax Hikes Slash Fuel Oil Imports 30 Pct So Far This Year
(Wednesday, March 25, 2015) China's fuel oil imports have tumbled 30 percent in the first two months of the year and are running at about half their peak two years ago, as fuel tax hikes crimp energy use and squeeze refiners' profits.
China's Crude Storage Nearly Full, Says Sinopec Exec
(Wednesday, March 25, 2015) China's commercial and strategic oil storage is almost full, a Sinopec trading executive said on Wednesday.
South Korean Refiners to Profit from Cheaper Crude Oil, But...
(Monday, March 23, 2015) A leading exporter of oil products, South Korea faces a new era of competition.
Expect a Long Wait for Return of $100 Oil-China's Sinopec
(Monday, March 23, 2015) Asia's largest refiner, Sinopec Corp, said on Monday it expects prolonged weakness in global oil prices, forcing it to cut spending and turn more cautious about acquisitions.
China Indicts Former Oil Boss on Corruption Charges
(Thursday, March 19, 2015) The former chairman of the stated-owned parent of PetroChina Ltd., Asia's biggest oil producer, was indicted Thursday in a spreading anti-corruption crackdown.
Hengli Starts Up Third PTA Line
(Thursday, March 19, 2015) INVISTA Performance Technologies (IPT) and Hengli Petrochemical Thursday announced the successful start-up of Hengli’s third PTA line utilizing INVISTA’s PTA process technology.
Chinese Refinery Output Could Fall as Economy Slows, Fuel Taxes Rise
(Wednesday, March 18, 2015) Chinese state refiners could process less crude oil in the second quarter, as domestic demand is dented by tax hikes and a slowing economy, potentially curbing the import needs of the world's second biggest oil consumer.
Japan Inches Closer to Final Approval for Nuclear Reactor Restart
(Wednesday, March 18, 2015) A reactor in southwestern Japan cleared another regulatory hurdle on Wednesday, another small step in Japan's return to nuclear power after all units were shut down for stringent safety checks following the 2011 Fukushima atomic disaster.
Global Oil Glut Set to Grow as China Slows Crude Imports
(Wednesday, March 18, 2015) A global oversupply of oil is set to rise as China pauses in the build-up of its strategic reserves and Asian refineries slow crude imports ahead of the spring maintenance season, putting more downward pressure on prices.
Wood Mackenzie: Gas Poses More Competition to Coal in Asia's Power Sector
(Tuesday, March 17, 2015) Wood Mackenzie says gas poses increasing competition to coal as a fuel choice for the power sector in Asia.
PetroChina Vice Chairman Under Investigation Amid Graft Crackdown
(Tuesday, March 17, 2015) PetroChina Vice Chairman Liao Yongyuan is being investigated for "serious disciplinary violations", the company says, as an anti-corruption crackdown reaches deeper into the Chinese state-owned oil giant.
Taiwan Formosa Buys Basra Lt, First Vasconia Crude
(Tuesday, March 17, 2015) Taiwanese refiner Formosa Petrochemical has bought 12 million barrels of Iraqi Basra Light crude and its first Colombia Vasconia crude via tenders, trade sources said on Tuesday.
More Than Half of Mercuria's S. Korea Bunker Traders Leave
(Thursday, March 12, 2015) More than half of a South Korea-based marine fuel trading team taken on by Swiss trading house Mercuria following the collapse of OW Bunker has left after just over three months, two trading sources said on Thursday.
Taiwan's Formosa Seeks Reformate, Naphtha for H2 April
(Wednesday, March 11, 2015) Taiwan's Formosa Petrochemical Corp is seeking 15,000 tonnes of gasoline component reformate for second-half April delivery and an undisclosed amount of naphtha for the same period delivery, traders said on Wednesday.
China Approves First Nuclear Project Since Fukushima
(Tuesday, March 10, 2015) China has given the go-ahead for the launch of a major domestic nuclear power project, marking the first such approval since a temporary freeze on new construction following Japan's Fukushima disaster.
S.Korea's GS Caltex Makes First Mexican Crude Purchase in 25 Yrs
(Monday, March 09, 2015) South Korea's GS Caltex Corp has bought Mexican crude for the first time in 25 years, as the refiner takes advantage of low prices to make cheap spot purchases, a spokesman said on Monday.
Japan's Mega Utility Merger to Boost LNG 'Buyer Power'
(Thursday, March 05, 2015) The combination of two Japanese utilities to form the world's biggest liquefied natural gas importer will give Asian buyers greater muscle to press producers for more flexible contracts and potentially deepen a new era of weaker prices.
China Tries to Ditch Its Coal Addiction, Reduce Energy Intensity
(Thursday, March 05, 2015) China will boost efforts this year to rid itself of a strong addiction to coal in a bid to reduce damaging pollution as well as cut the energy intensity of its economy, which is expected to grow at its lowest rate in 25 years.
Indonesia Expects 60% Increase in Gas Demand Over Next 5 Years
(Wednesday, March 04, 2015) Indonesia will need an additional 1,300 million standard cubic feet per day of gas supplies within 5 years, to meet forecast demand, an energy ministry official says.