Cpc Corp News

Taiwan's state-owned refiner CPC Corp has started cleaning up an offshore oil spill caused by a pipeline that cracked during the discharging of oil from a vessel at its Talin refinery, the company's spokesman said on Wednesday.The oil leak occurred on Tuesday at 2:18 a.m. (1818 GMT) and was likely caused by bad weather, the company said in a statement. CPC immediately halted oil discharge following the incident, it added.The incident will not affect the refinery's operations and…

Royal Dutch Shell said on Thursday its Prelude floating liquefied natural gas (FLNG) project off Australia, off line since early February, is working on restarting operations but would not resume full production this year. The troubled Prelude FLNG platform was shut down following an electrical trip and Shell has faced a number of issues over the past few months in trying to restart full production and now does not expect to ship any LNG before next year.Full production is not expected to resume before year-end. Prelude is a multi-decade project, and our focus is on delivering sustained performance over the long term,” Shell said in a statement.The company hopes to resume shipping LNG from Prelude in the first quarter of 2021…

China National Offshore Oil Corp, or CNOOC, has agreed to buy from Royal Dutch Shell two cargoes of liquefied natural gas with offset carbon emissions, marking China's first gas imports of this kind, said the Shanghai Oil and Gas Exchange.CNOOC and Shell will use carbon credits won in projects in China's northwest Xinjiang and Qinghai region to offset the carbon emissions involved in producing and consuming the two gas cargoes, the exchange said in a statement on Sunday.CNOOC will auction the two cargoes at the Shanghai exchange.

A flurry of tentative bookings to export U.S. crude oil from the Gulf Coast suggests demand is edging up after the coronavirus slammed energy consumption worldwide.BP, Trafigura and Equinor have all tentatively fixed vessels this past week to carry U.S. crude to global destinations over the coming month, according to Refinitiv Eikon data and shipping sources.Commodities merchant Trafigura and Occidental Petroleum are among companies looking to book vessels to ship crude from the U.S. Gulf Coast to Asia, one shipbroker said. The U.S.

A tanker carrying liquefied natural gas (LNG) has been floating off Australian waters for nearly two weeks as production at Ichthys project ramps up, industry sources told Reuters.The tanker 'Symphonic Breeze' has been moored at Darwin anchorage since April 17 after loading a cargo from the recently launched Ichthys LNG facility, shipping data from Refinitiv Eikon showed.The LNG cargo has already been sold to a North Asian buyer, who chose to lift it at a later date due to high inventory in its tanks, an industry source familiar with the matter said.The "floating cargo" situation has been part

Royal Dutch Shell said on Wednesday it has begun output at its Prelude floating liquefied natural gas (FLNG) facility in Australia, the world's largest floating production structure and the last of a wave of eight LNG projects built in the country over the last decade.Though the project started up later and cost more than originally estimated, it is expected to further cement Australia's lead as the world's biggest LNG exporter, after the country took the crown in November.In a statement…

Royal Dutch Shell expects production at its Prelude floating liquefied natural gas (LNG) unit to start at the end of the year, a spokeswoman told Reuters on Tuesday."We continue to progress Prelude towards operations, with safety and quality being our main focus ... We expect to see production around the end of the year," she told Reuters in an emailed statement.Prelude - which will process natural gas produced offshore northern Australia and export it as LNG - is expected to have an annual LNG production capacity of 3.6 million tonnes.

Freight rates for very large crude carriers (VLCCs) on Asian routes from the Middle East could fall to a new low for the year next week as too many ships chase the number of available cargoes, ship brokers said on Friday. That came as average rates from the Middle East to Asia have fallen close to last year's low. Average rates dropped to around 32.50 on the Worldscale measure on Sept. 23, 2016, equivalent to about 42.75 this year after Worldscale rates were recalculated for 2017.

Taiwan's CPC Corp is seeking a rare jet fuel cargo for delivery in November as it builds its heating fuel inventory ahead of winter, trade sources said on Monday. The company is seeking 40,000 kilolitres of jet fuel for delivery into Kaohsiung, Taiwan, one of the sources said. The tender closes on Oct. 15 and is valid until Oct. 17. CPC Corp, which normally exports jet fuel, last imported jet fuel about a decade ago, a source close to the matter said. The company is likely stockpiling kerosene, which is used as heating fuel in winter, and is importing jet fuel to meet domestic shorts, the source added.   Reporting by Jessica Jaganathan

Exxon Mobil Corporatio says it has shipped the first cargo of liquefied natural gas (LNG) from the $19 billion PNG (Papua New Guinea) LNG project ahead of schedule. PNG LNG, operated by ExxonMobil affiliate ExxonMobil PNG Limited, is expected to produce more than 9 trillion cubic feet of gas over its estimated 30 years of operations. The first cargo is bound for LNG customer Tokyo Electric Power Co. Inc. (TEPCO) in Japan. Production from the first train started in April, 2014, and production from the second train has also started as additional wells came online. Construction of PNG LNG began in 2010, and took more than 190 million work hours to complete. At its peak, the project employed more than 21,000 people.