Downstream News

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Chevron Signs New LNG Deal with South Korean Refiner
Thursday, February 14, 2019 A Chevron subsidiary signed a sales and purchase agreement with South Korean oil refiner GS Caltex Corporation.

Aramco's $1.6B Hyundai Oilbank Deal Deepens Asian Refining Ties
Monday, January 28, 2019 Saudi Arabian Oil Co. is taking a nearly 20% stake in South Korean oil refiner Hyundai Oilbank Co. for $1.6 billion.

China Petchems Contract Goes to Honeywell
Thursday, January 17, 2019 Honeywell exec says complex will help China approach paraxylene self-sufficiency.

China's Surging Gasoline Exports Hurting Regional Refiners
Tuesday, January 15, 2019 Fitch Solutions Macro Research identifies factors driving growth in China's gasoline exports.

Sinopec Said to Get Retail IPO Green Light
Monday, January 14, 2019 Sinopec's retail operations include more than 30,600 fuel stations and nearly 27,000 convenience stores.

Shell Wraps Up Hazira Deal
Thursday, January 10, 2019 Shell Gas B.V. completes the acquisition of a 26% equity interest in the Hazira LNG and Port venture in India from Total Gaz Electricite Holdings France.

China Eases Back on Mideast, African Oil
Tuesday, January 08, 2019 China's crude oil purchases from the Middle East and West Africa dropped to a four-month low in December, following a buying binge.

Iran to Boost Investment in India
Wednesday, January 02, 2019 Iran will invest about 15 billion rupees to expand a refinery run by Chennai Petroleum Corp. in south India.

LNG Hunt Less Likely as Milder Asia Winter Seen
Tuesday, November 13, 2018 Prospects for a milder winter in Asia may make the frenzied seasonal hunt for LNG less likely this year and hurt the outlook for prices.

Pipelines on Wheels: LNG Giant Turns to Trucks
Monday, November 05, 2018 Gas is in such hot demand in China right now it's allowing a quirky market to flourish: transporting the fuel on trucks.

Big Oil Woos China With $24B Spree
Thursday, October 25, 2018 A Chinese archipelago that served as a pirate's den in centuries past is luring the world's energy giants.

Shell and CNOOC Eye Closer Petchems Collaboration
Wednesday, October 24, 2018 CNOOC Chairman Yang Hua and Shell CEO Ben van Beurden shake hands at the signing event as Chinese Premier Li Keqiang and Dutch Prime Minister Mark Rutte look on. SOURCE: Shell

$4B Thailand Refinery Contract Awarded
Friday, October 19, 2018 ThaiOil awards refinery expansion contract to consortium of Saipem, Petrofac and Samsung.

India Targets Oil Traders for $1.5B Emergency Oil Reserve
Friday, October 12, 2018 India is seeking $1.5 billion of investments from global oil producers and traders to build additional emergency crude reserves.

China Swoops in on Canadian Oil That's $50 Below US Crude
Thursday, October 11, 2018 Chinese oil buyers are making a beeline for a bargain across the Pacific.

China Slams Brakes on US Crude Oil Imports
Monday, October 08, 2018 Even though Beijing hasn't sanctioned American oil imports yet, Chinese buyers aren't taking any chances.

US Gas Exports Hit by China Tariffs as Trade War Escalate
Tuesday, September 18, 2018 China plans to slap tariffs on US natural gas exports as trade tensions escalate, a likely setback for the burgeoning energy relationship.

China's Squeezed 'Teapots' Eye Petchem Path To Riches
Friday, September 14, 2018 Several independent Chinese refineries are drawing up plans to build petrochemical complexes in east China's Shandong province.

Prices For November Soften After Earlier Strong Weeks
Friday, September 14, 2018 Asian spot LNG softened for November delivery after several weeks of strong demand and tightening supplies led buyers to wait for a correction in prices.

Iran Endures Longest Gap in China Oil Buying in at Least 3 Years
Thursday, September 13, 2018 Iran just endured the longest gap without sending oil to its biggest customer in at least three years.

Petronas-Saudi RAPID Refinery To Receive First Oil Cargo By End-Sept
Thursday, September 13, 2018 A supertanker carrying the first crude oil cargo for a refinery joint-venture project between Petronas and Saudi Aramco is expected to reach by September-end.

China's CCCC Wins $398MM Contract To Build Mombasa Oil Terminal
Thursday, September 13, 2018 China Communications Construction Co has won a $398 million contract to build a new oil terminal.

PetroChina and Qatargas Sign 22-Year LNG Supply Deal
Monday, September 10, 2018 PetroChina Co. signs a deal with Qatargas Operating Co. to purchase 3.4 million tons of liquefied natural gas annually.

Pakistan Pits World's Biggest Sellers and Saves $600 Million
Monday, September 10, 2018 Pakistan says it saved more than $600 million over the first 10 years of a natural gas supply deal by pitting some of the world's biggest sellers against each other.

Supported By Demand, Prices Exceed Past Winter Peak
Friday, September 07, 2018 Asian spot LNG prices edged higher this week as Asian demand ahead of the winter persisted.

China Watchdog Says PetroChina Pipeline Runs Through Nature Reserve
Friday, September 07, 2018 China's environmental watchdog said a section of PetroChina's fuel pipeline passing through Hebei has encroached on a nature reserve in the northern part of the province.

ExxonMobil May Build World-Scale Cracker in Pearl River Delta
Thursday, September 06, 2018 ExxonMobil's decision to proceed hinges on the receipt of permits, project competitiveness and other factors.

Sources: China's Hengyi Pushes Back Brunei Refinery Start-Up To 2Q 2019
Wednesday, September 05, 2018 The start-up a refinery-petrochemical project in Brunei by China's Hengyi Industries International Pte Ltd will likely be delayed by a few months, sources say.

Russell: China Will Buy More LNG, But Wants It Smoother, Less Lumpy
Tuesday, September 04, 2018 China appears set to once again boost its purchases of LNG for the northern winter.

Shanghai Crude Future For Sept Expires With Five Companies To Deliver Oil
Friday, August 31, 2018 Shanghai Crude Future For Sept Expires With Five Companies To Deliver Oil

Petrochina Trying To Cut Impact Of Petchem Import Duties Amid Trade War
Thursday, August 30, 2018 Petrochina is trying to reduce the impact of import tariffs on US petrochemicals imposed by Beijing earlier this month.

Diesel Guzzler Indian Railways Turns To Natural Gas To Cut Cost
Thursday, August 30, 2018 India's state railways sign a preliminary deal with gas firm GAIL (India) Ltd to use natural gas in some of its operations.

Sinopec Says Some Refineries Would Be Hit By A Halt In Iran Crude Buying
Monday, August 27, 2018 A senior executive at Sinopec says that some of its refineries will be negatively affected if it stops importing Iranian crude.

Russell: China's Falling US Crude Imports May Have More To Do With Money
Monday, August 27, 2018 One of the side effects of President Donald Trump's escalating trade dispute with China is that US exports of crude oil to the world's biggest importer are now viewed through the prism of politics.

Asia's Naphtha Premiums Tank As More East-Bound Cargoes Expected
Friday, August 24, 2018 Asian spot premiums for naphtha, a key petrochemical feedstock, have buckled in anticipation of a heavier supply flow.

Asian Prices Hit Highest In Over 2 Months High On Tight Supply
Friday, August 24, 2018 Asian spot LNG prices rose for the second straight week to their highest in over two months.

Sinopec, Zhejiang Group To Build LNG Terminal, First Phase Set For End-2021
Wednesday, August 22, 2018 Sinopec has teamed with Zhejiang Energy Group on a LNG terminal in east China.

Thailand's EGAT Seeks LNG for First Time as Market Liberalizes
Tuesday, August 21, 2018 Thailand joins other Asian countries such as China where LNG imports have risen exponentially over the past few years.

China Sells Diesel To South Africa As Refiners Seek New Export Markets
Monday, August 20, 2018 Sinopec is selling diesel as far afield as South Africa as China's refiners seek homes for their surplus fuel in the latest sign of troubles in the domestic refining business.

Prices Edge Up As Focus Switches To Winter Storage
Friday, August 17, 2018 Asian LNG spot prices edged higher this week as attention shifted to cargoes for winter storage.

Japan Mitsubishi Corp To Acquire 25% Stake In Bangladesh LNG Terminal
Friday, August 17, 2018 Japan's Mitsubishi Corp says it has agreed to acquire 25% of Bangladesh's Summit LNG terminal.

Japan Steps Up US LPG Purchases In Fallout From Sino-US Trade Conflict
Thursday, August 16, 2018 Japanese utilities and industrial companies are snapping up US cargoes of LPG.

Chinese Oil Importers Shun US Crude Despite Tariff Reversal
Wednesday, August 15, 2018 Chinese oil importers are shying away from buying US crude.

China Oil Refinery Output Up 12% In July, Buoyed By State Refiners
Tuesday, August 14, 2018 Chinese oil refinery output rose 11.6% in July from a year earlier.

Japan's Mitsui Chemicals Restarts Naphtha Cracker At Fire-Hit Plant
Monday, August 13, 2018 Mitsui Chemicals says it restarts a 500,000 tonne-per-year naphtha cracker plant in Osaka in western Japan.

PetroChina Mulls Suspending US LNG Purchases
Monday, August 13, 2018 PetroChina may temporarily halt purchases of US LNG spot cargoes through the winter to avoid potential tariffs amid a trade conflict.

India To Step Up Use Of Biofuels To Cut Oil Import Bill
Friday, August 10, 2018 India aims to increase the use of biofuels to cut its oil import bill by 2022 and reduce carbon emissions, Prime Minister Narendra Modi says.

Cheniere CEO sees no impact from Chinese tariffs on U.S. LNG
Thursday, August 09, 2018 Cheniere CEO Jack Fusco says he does not expect proposed Chinese tariffs on US liquefied natural gas to have an economic impact on the LNG's company's existing contracts.

Ramp-up Underway for Vietnam's New $9B Refinery
Wednesday, August 08, 2018 he biggest oil refinery in one of Asia's fastest-growing economies is ramping up production and expects to run at full capacity in September.

Chinese Tariffs on LNG, Oil May Hit US Bid for Energy Dominance
Friday, August 03, 2018 China had curtailed its imports of U.S. LNG over the last two months.