06252016Sat
Last update: Sat, 25 Jun 2016 11am

Asia

Markets - Energy - Asia

Taiwan CPC says Talin refinery capacity to rise by 17pc by end-2016 SINGAPORE: State-owned Taiwanese refiner CPC Corp is expected to start operations at four new units in southern Taiwan by the end of this year, lifting the refinery's crude processing capacity by 17 percent, the company said on Tuesday. The company is building a 150,000 barrel per day (bpd) crude distillation unit (CDU) at its Talin refinery which will replace an older 100,000-bpd CDU at the same site, spokesman Ray-Chung Chang told Reuters. This will bring the refinery's crude processing capacity to 350,000 bpd, up from 300,000 bpd currently, he said. The company also operates a 200,000-bpd refinery in Taoyuan.CPC mothballed its 220,000-bpd refinery in Kaohsiung in November after local residents campaigned for its closure on environmental grounds.At the Talin complex, CPC is also building two hydrotreaters with a total capacity of 70,000 bpd, and a 50,000-bpd condensate splitter, Chang said. "The units will be started up one after another by ...

Markets - Energy - Asia

Iran oil exports on track for 4-1/2-year high as European buying recovers TOKYO: Iran's oil exports are on track to hit the highest in almost 4 1/2 years in June, as shipments to Europe recover to near pre-sanctions level, according to a source with knowledge of the country's crude lifting plans.Tehran's oil sales have nearly doubled since December, the last month before sanctions targeting its disputed nuclear programme were lifted, and the increase in sales should help offset some of the current global supply outages.Iran is regaining ...

Markets - Energy - Asia

Oil prices down with world markets, stockpiles data eyed SINGAPORE: Oil prices fell around one percent in Asia Tuesday, extending a sell-off on speculation about a pick-up in production while world markets are rattled by fears over Britain's possible exit from the European Union.After a rally in the commodity that saw the US benchmark hit an 11-month high last week, investors are beginning to cash in and search out safe havens such as the yen and gold.Equities markets around the world have been tumbling ...

Markets - Energy - Asia

Oil futures fall as global growth, Brexit concerns weigh TOKYO: Crude oil futures fell in Asian trade on Tuesday, as investors ignored signs of market tightness to focus on concerns over global growth and overnight declines in stocks on the impending vote on Britain's possible European Union exit.Brent crude oil futures slipped below $50 a barrel, falling 44 cents to $49.91 by 0445 GMT, dropping for a fourth successive day.U.S. crude was down 47 cents, or nearly 1 percent, at $48.41 a barrel, also ...

Markets - Energy - Asia

Oil prices fall with world markets, stockpiles data eyed SINGAPORE: Oil prices fell more than one percent in Asia Tuesday, extending a sell-off on speculation about a pick-up in production while world markets are rattled by fears over Britain's possible exit from the European Union.After a rally in the commodity that saw the US benchmark hit an 11-month high last week, investors are beginning to cash in and search out safe havens such as the yen and gold.Equities markets around the world have been ...

Markets - Energy - Asia

China's preliminary May oil demand down 0.8pc y/y BEIJING: China's preliminary May implied oil demand inched down 0.8 percent year on year and fell from April's record high level, as a pick-up in maintenance led to lower refinery throughput. China consumed about 10.24 million barrels per day (bpd) of oil, down almost 380,000 bpd from a record daily consumption volume reached in April, Reuters calculations showed. The drop in demand, excluding oil stocks adjustment, was mainly due to a 460,000 bpd decline in ...

Markets - Energy - Asia

Asia-Pacific Crude-Aug Pyrenees, NWS condensate supplies up SINGAPORE: Asia-Pacific crude market held steady on Monday as more loading programmes emerged.BHP will market two Pyrenees cargoes loading in August, up from one in the previous month, a trader said.North West Shelf condensate (NWSC) supplies will also rise by one cargo in August from the previous month, traders said.Brent's premium to Dubai swaps, or Brent-Dubai Exchange of Futures for Swaps (EFS), edged down 3 cents to $3.68 a barrel for August.PRICEPetronas has set the ...