Taiwan

The oil prices rose by about 5% after Washington imposed new sanctions against major Russian companies for the war in Ukraine. Major stock indexes also edged up as gains from U.S. energy stocks and European energy shares offset some disappointing earnings reports. The sanctions were announced late on Wednesday and targeted major Russian suppliers Rosneft, Lukoil. The U.S. announced it was ready to take additional action, as it urged Moscow to immediately agree to a ceasefire. Energy was the leading sector to gain on Wall Street, according to the S&P 500 index. Energy was the last sector to gain 1.2%....

On Thursday, Asian stocks fell a second time as Wall Street was stung by disappointing earnings reports for tech giants. Meanwhile, U.S. sanctions on Russia and China rekindled geopolitical fears. Oil prices surged. The broadest MSCI index of Asia-Pacific stocks outside Japan fell 0.3% last week, while Japan’s Nikkei225 dropped 1.5%. Chinese stocks fell 0.4% in Hong Kong following reports that the White House was considering a plan aimed at curbing a range of software-powered products exported to China as retaliation against Beijing's recent round of export restrictions on rare earths. Charu Chanana is the chief investment strategist for Saxo...

Sources with knowledge of this matter stated on Friday that Saudi Arabia's crude exports to China will fall to 40 million barrels in November as refiners switch to cheaper spot supplies from other Middle East producers. This would be a drop from the 51 million barrels expected to be exported by the top oil exporter in October. Saudi Aramco, the state-owned oil company, left its official November price for its flagship Arab Light crude in Asia unchanged, despite market expectations that it would increase. This was a day after OPEC+ had agreed to a modest rise in oil production. Data...

Three trade sources on Tuesday said that Taiwan's CPC Corp. is looking to export jet fuel in March. This would be the first time in almost three years that it has made such an offer. They added that the state-owned oil company issued a tender for a combined cargo of 150,000 to 150,000 bbls. of jetfuel or 150,000 bbls. of jetfuel and 150,000 bers. of gasoil with 10ppm of sulphur. A document that was reviewed by on Wednesday showed the cargo would be loaded between March 6-22. Sources said Tuesday that the tender will close on February 19, but it...

Northeast Asian refiners sold Novemberloading ultra lowsulphur diesel at the narrowest discounts considering that the start of the year as supply has tightened due to lower regional output, trade sources said on Friday. Deals for primarily first-half November-loading 10ppm sulphur gasoil have mainly been sealed at discounts of 30-70 cents a. barrel to Singapore quotes, the narrowest given that January,. according to traders and Reuters data. Discounts for October supplies were primarily broader than $1 a. barrel. Area price have improved on the back of several. unexpected blackouts in southeast Asia given that end-September,. following the shutdown of northeast Asia...

Woodside Energy CEO Meg O'Neill said issues about the success of its Driftwood melted gas (LNG) project are misplaced, as the energy company flagged higher expenses at its Scarborough project throughout second quarter results on Tuesday. A day earlier, Australia's biggest independent energy firm signed a $1.2 billion deal to purchase LNG developer Tellurian and its U.S. Gulf Coast Driftwood job in a relocate to become a worldwide LNG powerhouse. Woodside shares fell 2.1% after the news and experts from Citi and UBS questioned whether the infrastructure-like project could create returns above Woodside's 12% financial investment hurdle. O'Neill stated the...

Asian spot melted gas (LNG) prices increased to a sixmonth high this week on the back of cooling demand in India, greater projection temperature levels in northeast Asia and suspended production at an Australian gas center. The typical LNG rate for July shipment into north-east Asia was at $12.60 per million British thermal units ( mmBtu), its highest level because Dec. 15, market sources estimated. The August delivery cost was estimated at $12.70/ mmBtu. The strength of demand in Asia has provided some support to rates and differentials, said Lucas Schmitt, research study director on short-term LNG at Wood Mackenzie....

QatarEnergy signed a deal on Wednesday to provide Taiwan's stateowned oil company CPC with liquefied gas (LNG) for 27 years and giving it a stake in the Gulf state's gas growth project. The state-owned Qatari company said that it will supply CPC with 4 million tons per year (mtpa) of LNG from the North Field East, the eastern growth of the job. CPC will likewise take an equity stake because part of the job, QatarEnergy's declaration stated. The stake is the equivalent of 5% of one LNG train with capability of 8 million metric loads a year. This transfer will...

Solomon Islands lawmakers chosen Jeremiah Manele as their new prime minister on Thursday, raising the previous foreign minister who has pledged to continue the Pacific Island country's worldwide policy that drew it closer to China. Manele won 31 votes to Opposition leader Matthew Wales' 18 votes in the 50-seat parliament, Guv General Sir David Vunagi announced outside parliament house. A nationwide election last month saw incumbent Prime Minister Manasseh Sogavare's federal government lose half of its seats but failed to provide a bulk to any political celebration. The federal government and opposition celebrations lobbied intensively for weeks to win assistance...

In the eastern Chinese port of Dongying, the start of 2024 has actually typically seen a number of tankers docked all at once discharging Russian crude oil into a new 31.5 million barrel storage facility finished late last year. It is, traders say, all part of a concerted and intentional Chinese effort to build up strategic stockpiles for a possibly unpredictable future. Estimates of China's total strategic energy reserve differ from 280 to 400 million barrels, the upper quantity exceeding the U.S. Strategic Petroleum Reserve at roughly 364 million. China takes in some 14 million barrels a day of oil...

U.S. lp inventories and costs are progressively figured out by the state of commercial demand in North East Asia and trade relations with China rather than weather condition and usage in your home. In spite of an incredibly moderate winter that depressed domestic intake, exports diminished record stocks at the start of October to something much more detailed to regular by the end of March Lp and propylene inventories ended the winter on March. 31 around 5 million barrels (+10% or +0.48 standard deviations). above the previous 10-year seasonal average. The surplus was down from 13 million barrels (+15% or...

Taiwan's Formosa Petrochemical (FPCC) has actually restarted operations at the port at its Mailiao oil refinery after closing it as a. precautionary step following an effective earthquake, a business. representative stated on Wednesday. FPCC has likewise restarted operations at an unrefined distillation. system (CDU) at Mailiao, business representative K.Y. Lin stated. There was no major influence on the refinery. One CDU tripped,. and currently resumed operation this afternoon, said Lin. The port was closed as a preventive step, and it. resumed at twelve noon, Lin added, stating that there will not be any. delivering delay due to the earthquake that...

According to several trade sources, major Asian refineries have signed term agreements for diesel exports by 2026, at a higher premium than the benchmark Singapore prices this year. This is supported by the firmer prices of November. The spot premiums for refiners’?sales? of 10ppm diesel in December were at their highest level in two years as the?prompt?supplies tightened because refinery outages exceeded expectations and year-end demand by regional importers increased, traders reported. The higher premiums on 2026 supply indicates that traders are still bullish about the prospects for motor and industrial fuel in the coming year. Three sources familiar with...

Nigeria's oil state company NNPC Ltd announced on Monday that it had recorded a net income of 5.4 trillion naira (about $3.6 billion) for 2024. This is up 64% compared to the previous year. Analysts were told by Group Chief Executive Bashir Ojulari that "the earnings demonstrate the positive momentum in our ongoing transformation, and the unwavering dedication of our workforce." Ojulari stated that NNPC aims at mobilizing $60 billion in energy investment by 2030. The company will also increase oil production to 2 million barrels of oil per day (bpd), and to 3 million bpd, by 2030. Gas production...

Taiwan's Economy Minister said on Wednesday, that private refiners would be willing to stop purchasing Russian naphtha if the EU asked them. This comes after a group non-governmental organizations criticized the island's continuing business with Russia. Taiwan, along with the United States, major Western allies, and other countries, put broad sanctions against Russia in 2022 after its invasion of Ukraine, but it did not ban explicitly imports, which are a major source of hard currency for Russia. A group of NGOs, including the Centre for Research on Energy and Clean Air(CREA), criticised Taiwan for its continued imports Russian naphtha last...

Saudi Arabian crude oil supplies to China are expected to drop slightly in July. However, they will still be strong for a 3rd consecutive month, as the OPEC kingpin regains market share by supplying the top crude importer of the world. A tally of the allocations made to Chinese refiners revealed that Saudi Aramco, the state oil company, will ship around 47 million barrels in July. This is 1 million barrels below June's allocated volume. Sources say that state refiners Sinopec and PetroChina, as well as Aramco's joint-venture Fujian refinery, will receive more crude in July. However, independent refiners Rongsheng...

Three trade sources on Tuesday said that Taiwan's CPC Corp. is looking to export jet fuel in March. This would be the first time in almost three years that it has made such an offer. They added that the state-owned oil company issued a tender for a combined cargo of 150,000 jet fuel barrels and 150,000 jet fuel barrels with 10ppm of sulphur. It was not possible to confirm exact loading details. One source stated that the tender will close on February 19, but it is valid until February 20. A second source said that the rare move was due...

Trade sources reported on Tuesday that Saudi Arabia's crude supply to China will decline in March compared to the previous month after the kingdom raised its prices to their highest level in over two years. A tally of Saudi Aramco's allocations to Chinese refiners revealed that the company will ship around 41 million barrels in March. This is down from 43.5 million barrels in February. This is the second consecutive month that Aramco has seen its allocation to China drop. The sources stated that Sinopec, a joint venture between Aramco and the Chinese state-owned company, and Aramco’s joint venture Fujian...

Donald Trump has actually been chosen U.S. president, topping an amazing comeback 4 years after he was voted out of the White Home. Here is what business in Asia have bought the United States, what Trump has stated about them and what possible U.S. service policy changes would mean for Asian companies. SEMICONDUCTORS Asian chipmakers, led by Taiwan's TSMC and South Korea's Samsung Electronics, have jointly invested a minimum of $117 billion in the U.S., encouraged by the current U.S. administration's essential initiative aimed at lowering its dependence on Asia for high-end chips. In return, they have gotten or been...

Oil refiners are making less money selling their fuel as demand during the peak summer season driving season has actually disappointed what they expected when much of them enhanced production. Softness in fuel markets have actually overthrown years of record revenues on selling transport fuels. In the U.S., the world's largest gas market, refiners increase sharply, expecting demand that never materialized. U.S. gasoline need was 9 million barrels daily (bpd) in the very first week of June, 1.7% below in 2015 and seasonally the lowest considering that 2021, government data showed. In Asia, weakness in the gas market has actually...

Revenue margins for diesel are slumping as brand-new refineries boost supplies and as mild weather condition in the northern hemisphere and slow economic activity eat into demand, putting oil costs under further down pressure. The lower refining margins for diesel, one of the world's. crucial industrial and transportation fuels, have already triggered some. refiners in Asia to cut the volume of crude oil they process to. decrease their diesel output. Weaker demand has actually seen petroleum rates fall dramatically in. recent weeks and OPEC+ manufacturers fulfill in early June to choose. the fate of a series of supply cuts concurred...