Chevron wants to construct or purchase a refinery on the Houston Ship Channel, in the western part US Gulf Coast, to process crude oil from its rapidly growing Permian Basin operations (up 51% in 2Q18) closer to where it is produced.
China's Qingdao Port (QPI) is confident that crude imports by Shandong-based independent refiners in 2019 will remain stable from 2018, dispelling concerns that independent refiners may be slowing their operations in response to increased competition and tighter tax regulations.
ExxonMobil is contemplating a multi-billion-dollar upgrade at its integrated 592Kbd (29.6Mta) Singapore refinery, the company’s largest, enabling it to converting lower-value by-products into cleaner ones, in a bid to adhere to the new marine fuel regulations beginning in 2020.
Vietnam’s top fuel importer and distributor Petrolimex has proposed to halt work at the proposed USD4.4-4.8Bn, 200Kbd (10Mta) Nam Van Phong Refinery and Petrochemical Complex costing, jointly developed by Japan’s JXTG Holdings, to “focus resources on executing other projects”.
Germany has sharply increased its buying of Russian 10ppm diesel in September amid various refinery outages and low Rhine water levels. The trend appears to be continuing into early October, with at least three vessels leaving Primorsk heading for the German port of Hamburg within the next three days.