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Last update: Tue, 31 May 2016 07pm

Asia

Markets - Energy - Asia

South Korea's S-Oil says refining margins to stay healthy in Q2 SEOUL: South Korea's S-Oil Corp said on Thursday it expects refining margins to stay solid in the April to June quarter, as low oil prices will offset much of the impact from seasonally weak demand in Asia. S-Oil, whose main shareholder is Saudi Aramco, the kingdom's state oil giant, said its first quarter operating income jumped 106 percent to 491 billion won ($432 million) from a year ago, helped by strong margins and maximized production rates. "Regional demand is likely to contract as heating demand in Asia will disappear, but low oil prices will hold the demand at a firm level," the country's third-largest refiner said in an earnings statement. S-Oil, which imports almost all of its crude from Saudi Arabia, said it plans to shut its No.1 crude distillation unit and residue fluid catalytic cracking unit in the second half of this year.A senior company official told an earnings ...

Markets - Energy - Asia

China Jan-Feb gasoline imports may be trading play not demand BEIJING: An abrupt surge in Chinese gasoline imports in the first two months of the year is most likely the result of traders storing the fuel as a trading play rather than a legitimate uptick in China's need for automotive fuel, traders said. China's customs data recorded imports of 114,292 tonnes of gasoline in February that followed January imports of 84,485 tonnes, or about 1.7 million barrels combined for both months.The February imports were the ...

Markets - Energy - Asia

Asia-Pacific Crude-Russian grades remain under pressure  SINGAPORE: Russian oil in Asia remained under pressure on Wednesday with June-loading Sokol and Sakhalin Blend sold at lower premiums than previous deals.Unsold supply of another Russian crude ESPO from May and lower demand from Chinese teapots weighed on Russian oil premiums, traders said.ONGC sold a June 13-19 Sokol cargo to Mitsui at about $3.50 a barrel above Oman/Dubai quotes, traders said, down from a premium of $3.68 a barrel fetched for a previous tender ...

Markets - Energy - Asia

India's March oil imports fall 1.7pc y/y: trade  NEW DELHI: India's oil imports in March fell 1.7 percent from a year ago while shipments in the fiscal year to March rose 5.6 percent as the country expanded its refining capacity, tanker arrival data obtained from trade sources and compiled by Thomson Reuters Analytics showed.India shipped in about 4.07 million barrels per day (bpd) of oil in March, a decline of about 12 percent from the previous month, the data showed.India, Iran's biggest oil ...

Markets - Energy - Asia

Crude falls in Asia as Kuwait oil workers end strike SINGAPORE: Oil prices resumed their fall in Asia Wednesday after petroleum workers called off a strike in key OPEC producer Kuwait, quashing hopes the disruption could help ease a persistent supply glut.Curtailed production resulting from the three-day strike in OPEC's fourth biggest member led prices to rise Tuesday, ending a four-day losing streak.But prices resumed their decline after the Kuwait Oil Workers Union on Wednesday ended their mass action and decided to return to work, ...

Markets - Energy - Asia

Japan's 2015/16 LNG imports fall 6.2pc from record high TOKYO: Japan's liquefied natural gas (LNG) imports fell 6.2 percent in the fiscal year ended March 31 from a year earlier to 83.571 million tonnes, preliminary trade data showed on Wednesday, marking the first drop in six years as some nuclear reactors restarted.The decline was also the first since the Fukushima nuclear disaster, following a massive quake in 2011, drove purchases to successive records.Thermal coal imports rose 1.7 percent to a record high 112.139 million ...

Markets - Energy - Asia

Crude futures fall after Kuwaiti oil workers end strike TOKYO: Crude futures fell on Wednesday after Kuwaiti oil workers ended a three-day strike that had cut production from the Middle Eastern country, and data showed US stockpiles rose last week. Brent crude futures were down 68 cents at $43.35 a barrel at 0302 GMT. On Tuesday, they settled up $1.12, or 2.6 percent, at $44.03 a barrel. US crude was down 85 cents at $40.23. The contract rose $1.30, or 3.3 percent, to $41.08 ...