Asia

Asia

China offers refineries bonus to export surplus diesel

China's Sinopec is offering its subsidiary refineries big incentives to export their diesel fuel, sources said, in a rare move that reflects the top Asian refiner's deepening concerns about a growing domestic glut.

Asia

Saudi Aramco aims to invest more in Indonisia’s oil sector

Saudi Aramco is looking for further investment opportunities in Indonesia's downstream refining and petrochemicals industry, the company's chief executive said today, after initiating a $5.5 billion project to upgrade the country's largest refinery.

Asia

Tethys receives second investment offer

Tethys Petroleum said it had acknowledged an offer by Olisol Investment Group earlier this month. The bid comes as the company continues ongoing negotiations with Nostrum Oil & Gas on the terms of a proposed offer. Earlier this month, Olisol had come forward to offer the company $8million by way of share subscriptions at $0.16 per common share.