Archive | May, 2003

COMPANY: Petroplus International Marketing, Dubai

Newly established Dubai-based Petroplus International Marketing, a subsidiary of the European midstream company, expects to continue its rapid pace of growth in marketing and trading oil in the Middle East, Asia and Africa in the years ahead. Started up by veteran oil trader Jagdeep Singh Dhanoa who holds a 20% stake, the company, which is […]

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CHINA: Shanghai industry park says ethylene cracker planned;Sinopec denies interest

BEIJING (AFX-ASIA) – Shanghai Chemical Industry Park (SCIP) has said that China Petrochemical Corp (Sinopec Group) is seeking foreign partners for an ethylene cracker with an annual capacity of one million tons but a Sinopec official has denied the group is interested. SCIP’s Li Zhengliang earlier said that the park administration and Sinopec Group have […]

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CHINA: Jan-April crude oil exports up 44.5%; imports up 42.9% – customs

BEIJING (AFX-ASIA) – China’s crude oil exports in the first four months rose 44.5% year-on-year to 3.03 million tons, worth US$647.96 million, while imports were up 42.9% at 30.1 million tons, worth US$6.88 billion, an official with the General Administration of Customs Statistic Bureau told AFX-Asia. Refined oil exports in the four-month period rose 70.2% […]

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PHILIPPINES: Court allows oil firms to continue Pandacan terminal ops

MANILA (AFX-ASIA) – A Manila court ruled that the country’s three major oil companies can continue operating their depots at Pandacan even after a 20-day temporary restraining order (TRO) lapses. The TRO has prevented the Manila City government from closing the three companies’ facilities. The Manila regional trial court also ordered the Manila City council […]

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CHINA: State Power sells 344.77 billion kWh electricity Jan-April, up 16.6%

BEIJING (AFX-ASIA) – China’s State Power Grid Co sold 344.77 billion kWh of electricity in the first four months, up 16.6% year-on-year, completing 32.8% of its full-year sales target, the Economic Daily reported, citing company sources. China’s demand for power is rising rapidly as the economy develops. The China Power Enterprise Association said earlier this […]

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SINGAPORE: China Aviation Oil to receive cash distribution from associate company

China Aviation Oil (Singapore) Corporation Ltd has announced that it is on track to receive a cash distribution from its 33%-owned associate company Shanghai Pudong International Airport Aviation Fuel Supply Company Ltd (SPIA/AFSC). CAO will soon receive its share of the distribution amounting to RMB105.6 million (US$1=RMB 8.28). As SPIA/AFSC is equity-accounted at CAO’s group […]

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