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Americas: Colombia's finance ministry approves additional 10% sale of Ecopetrol

Colombia's state-led Ecopetrol said Thursday that the country's Ministry of Finance and Public Credit has approved the sale of an additional 10% stake in the oil company. Colombian President Juan Manuel Santos in early December had requested approving this on top of the planned ...

China: Bonded bunker traders take four places among China's top five fuel oil importers in 2010

Of China's top five fuel oil importers in 2010, four were bonded bunker traders, versus only two on the list of the top ten in the previous year, C1's data showed. Chimbusco was still the largest fuel oil importer in China in 2010, estimated to import 5.25-5.75-mil mt, up 20% ...

China: Sinopec Guangzhou Petchem to refine 8% more crude daily in Jan

Sinopec Guangzhou Petrochemical is scheduled to refine 1.05-mil mt of crude in January 2011, with daily throughput up 8% from the previous month, a refinery source told C1. The refinery would start turnarounds of some units by turns from Feb 10, which might last for two months, ...

China: PetroChina raises Jan settlement price of Daqing crude supplied to Sinopec by 7.8%

PetroChina hiked January settlement prices of both Daqing crude and Jidong crude supplied to Sinopec's subsidiary refineries by Yuan 368/mt to Yuan 5,070/mt, with tax inclusive, a source with Sinopec told C1. Settlement prices of most of the other crude supplied to Sinopec ...

China: S. China's Dec fuel oil imports estimated to rise 18% on month to 380,000-420,000mt

South China is estimated to import 380,000-420,000mt of fuel oil in December, up 18% from C1's estimation for November imports, 8% lower than a year earlier, C1 forecast. Although mixed/cracked fuel oil demand from end-users was cooling down as the yearend drew near, demand for ...

China: Sinopec Wuhan Petchem sets Jan crude throughput target steady at 435,000mt

Sinopec Wuhan Petrochemical plans to refine 435,000mt of crude in January 2011, basically flat on month, a refinery source told C1. The refinery's crude consumption target for the whole year of 2011 was 5-mil mt, added the source. It is scheduled to shut a 400,000-mt/yr hydrogen ...

China: Shandong independent refineries' run rate rises tad to 42.2% Thu

Operation rates of independent refineries in Shandong Province averaged 42.2% Thursday, slightly up 0.7 percentage points from one week ago, up 10.2 percentage points compared with a year earlier, C1's survey showed. China Offshore Bitumen increased crude throughput by 1,000mt to ...

ChinaComing up : Renewable energy giant China

Researchers in China, the world's leading provider of wind turbines and solar panels, are working toward making renewable energy cheaper, more efficient and a bigger part of the country's power grid. But despite China's rapid leap to being a global leader in the renewable energy ...

Asia:Oil edges up on demand surge due to cold weather

Global oil prices edged higher in Asian trade Thursday as extreme cold weather and blizzards in the northern hemisphere is expected to boost energy demand further. Light sweet crude for February delivery was seen trading at $91.17 a barrel at 12.00 noon Singapore time while Brent ...

China: Longkou Mining Group to double shale oil production capacity to 120,000-mt/yr in Mar'11

Longkou Mining Group is expected to expand annual production capacity of its shale oil project from the current 60,000mt to 120,000mt by March 2011, a company source told C1. The company's shale oil was well received by oil blenders in East China, the source said. Longkou Mining ...

Asia: January PVC prices set to move lower in Asia

PVC prices in major Asian markets have begun to lose ground following six consecutive months of price increases now that import PVC deals for January are settling with decreases in China. Import PVC prices have also moved lower in India, while players in Southeast Asia are ...

China: Bohai Bay's fuel oil imports in Dec estimated to plunge 22% on month

The Bohai Bay (Shandong, North and Northeast China) was estimated to import 0.90-0.95-mil mt of fuel oil in December. This volume was down about 22% or 260,000mt from November imports published by the General Administration of Customs, or down 29% year-on-year. Local refineries ...

US propylene producers seek 25% increase for January

HOUSTON-US propylene producers nominated sharp increases for January, market sources said on Thursday, citing proposed increases of 14.50 cents/lb ($320/tonne, 243/tonne) and 15.00 cents/lb. The initiatives represent an increase of around 25% from December, as chemical grade ...

Asia: China's caprolactam imports in 2010 set to hit all-time high

China's caprolactam imports for 2010 are expected to hit an all-time high amid strong demand from downstream nylon producers, customs data showed. From January to November, the country has imported 573,739 mt of caprolactam, or a monthly average of about 52,158 mt. In 2009, China...

Asia: Investment in Indonesia's energy sector seen at $14.93 bil in 2011

The Indonesian government expects investment in the country's oil and gas sector to reach $14.93 billion in 2011 and $17.10 billion in 2012 based on commitments by companies operating in the country, a senior government official said Thursday. "We are optimistic that we will ...

Europe: Naftogaz, Gazprom merger idea not 'worthless': Putin

Russian Prime Minister Vladimir Putin reiterated his support for a merger between Russian gas giant Gazprom and Ukraine's national energy company Naftogaz Ukrainy, despite Kiev rejecting the idea on numerous occasions, according to remarks posted on a Russian government website ...

Global supply concerns push CAPP coal prices higher

Shrugging off uncertainty in the rest of the energy complex, Central Appalachian rail- and barge-delivered coal prices marched higher Wednesday, despite activity being limited to the CAPP barge prompt quarter, where prices rose at least $1.50/st. In at least two reported trades ...

Asia: Persian Gulf gasoil supply tightness in 2011 may push up premium

The premium for 500 ppm sulfur gasoil loading from the Persian Gulf could rise next year on higher regional demand as well as more cargoes moving to Africa and the Red Sea area, trading sources said this week. With Saudi Aramco switching to cleaner fuels in Gizan, in the Red Sea ...

Asia naphtha to firm until cracker turnarounds begin

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Europe: Russia's Rosneft refined record 1 million b/d of crude in 2010

Russia's largest oil company, Rosneft, refined 50 million mt (1 million b/d) of crude at its refineries in 2010, the most in the company's history, Rosneft said in a statement Thursday. "We should thank our refiners, as they achieved this remarkable result in difficult conditions ...
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