China's recent move to digitally tag fuel cargoes to clamp down on the widespread practice of declaring crude purchases as fuel oil to evade taxes is already seen to be curbing demand for heavy Venezuelan Merey crude from teapot refiners in ...
Tags: Curbing Demand, Tax Change
Ultra low sulfur diesel cracks are at a 6-week high on strong buying interest for cargoes in the region and a rise in the front-month 0.1% ICE gasoil futures contract. The crack for physical FOB Rotterdam ULSD barges rose to a $17.04/mt ...
Tags: Diesel Cracks, gasoil
India's state-owned refiners, who have all posted net losses over the first nine months of fiscal year 2013-2014 (April-March), are expected to turn in a profit for the full year as the government is likely to fully compensate them for ...
Tags: Refiners, Full-Year Losses
Indian refiner Mangalore Refinery and Petrochemicals Ltd is close to completing the long-drawn-out third phase of its expansion project, which will see a new petroleum fluid catalytic cracker and delayed coker unit come onstream at its 15 ...
Tags: Refinery Expansion, Metallurgy
The Chinese government has issued a gasoil export quota of 1.9 million mt to state-owned traders Chinaoil and Unipec, sources said Friday. Unipec, the trading arm of state-owned China Petroleum and Chemical Corp., or Sinopec, is ...
Veliky Novogorod to become largest gas carrier in Gazprom’s fleet Wednesday, Jan 22, 2014 A naming ceremony took place today for a liquefied natural gas (LNG) carrier at STX O&S shipyard in the city of Jinhae (South Korea). The ...
Tags: Veliky Novogorod, LNG, Gazprom, GM&T
China's fuel oil imports in November plunged 29.7% year on year to 1.46 million mt, General Administration of Customs data released Friday showed. The total was also down 12.4% from October. The volume refers to fuel oil classified as No. ...
Indonesia's state-owned Pertamina is seeking 5.4 million kiloliters of fatty acid methyl ester over 2014-2014 for gasoil blending through tender, company officials said late Thursday. The tender, which is limited to domestic companies ...
Tags: fatty acid methyl ester, Chemicals
China's apparent oil demand in November contracted 2.1% year on year to 40.88 million mt, or an average of 9.99 million b/d, according to Platts calculations Thursday based on final government data released Tuesday. This is the second ...
Tags: Oil Demand, Oil Product
China will re-introduce an import tax on diesel -- at 1% -- from January 1, 2014, following approval from the State Council, the country's Ministry of Finance said Monday. No reason was given for the change. Diesel had been exempt from ...
Tags: Diesel Tax, Mineral
Chinese state-owned oil major Sinopec will supply tighter specification motor gasoil adhering to National Phase IV emission standards at all its gas stations across South China's Guangdong province from Friday, the company said last Friday. ...
Oil demand growth in the US this year is likely to exceed that of China's for the first time since the 1990s, skewing overall global demand in favor of developed markets, investment bank Goldman Sachs said in a new report released Friday. ...
Tags: US, China, oil demand
Fuji Oil may consider entering into alliances with other companies in the Japanese refining and petrochemical sector, where it can benefit, a senior company official with the Japanese refiner said. "We are not able to speak about anything ...
Tags: oil, Metallurgy, Mineral, Energy
China National Petroleum Corporation has brought the final branch line of its Lanzhou-Zhengzhou-Changsha oil products pipeline on stream, transporting 150,000 cubic meters of diesel (equivalent to around 126,000 mt for zero-pour gasoil) ...
Tags: Oil Products, Pipeline
China's dominant refiner Sinopec, or China Petroleum & Chemical Corp, expects to spend Yuan 30 billion ($4.9 billion) annually over the next few years to upgrade its refineries to produce cleaner oil products, the company said Thursday. ...
Tags: Fuel, Metallurgy, Mineral, Energy