China Ramps Up LSFO Production 30%, backing Bunker Fuel Hub Ambitions

China more than halved the volume of export quotas for refined fuel, predominantly gasoline, diesel and aviation fuel, under the first allotment for 2022, while raising the allowances for low-sulphur fuel oil by 30%, industry sources said on Tuesday. The deep cuts to refined fuel, largely expected by the market, was in line with the

China targets 16.2 million mt fuel oil imports by non-state-owned enterprises in 2022

The Ministry of Commerce of the People’s Republic of China (MOFCOM) on 23 December issued the 2022 Refined Oil (Fuel oil) Non-state trade import allowance application conditions, distribution principles and related procedures document. The import of fuel oil is subject to state-owned trade management, states MOFCOM. However, certain provisions between China and the World Trade

China’s CNOOC supplies first carbon neutral LNG to Hong Kong

China National Offshore Oil Corp will supply carbon neutral LNG for the first time to Hong Kong, the state-owned oil and gas major said on its social media account late Dec. 20. CNOOC said it received a 65,000 mt carbon neutral LNG cargo on board the vessel “Magnolia” at the Guangdong Dapeng LNG terminal in

Natural gas prices continue to increase

India Ratings and Research (Ind-Ra) has published the September 2021 edition of its credit news digest on India’s oil and gas sector. The report highlights the trends in the sector, with a focus on domestic production, import, consumption, refining and gross under-recovery, regulatory changes and recent rating actions.   Ind-Ra believes that natural gas (NG) prices

Nigeria set to domesticate Methanol production

Minister of Science, Technology, and Innovation, Dr. Ogbonnaya Onu has said that Nigeria is ready to domesticate Methanol fuel production in the country for professionals and expatriates to exhibit their talents and exchange business ideas with their counterparts both home and abroad. The Minister said this when the National Coordinator of the Movement for the

China caps refinery capacity under peak emissions plan

China will cap primary crude processing capacity at 20mn b/d by 2025, the government said in a new action plan to achieve peak emissions by 2030. The plan, published by the state council today, gives a more detailed sector-by-sector breakdown following the release of an economy-wide plan for peak emissions and carbon neutrality on 24

Asia refiners to get full Saudi crude supplies in October

Saudi Aramco has notified at least seven buyers across Asia that it would supply full contractual volumes of crude oil in October, though none of them asked for additional supplies despite deep price cuts, sources with knowledge of the matter said on Monday. The full allocation comes as the Organization of the Petroleum Exporting Countries