Saturday, June 23, 2018

South Korea News

Russia's Novatek, S.Korea's Kogas Sign LNG Agreement

Russian energy company Novatek and South Korea's state-run Korea Gas Corp (KOGAS) signed an agreement on liquefied natural gas (LNG) cooperation after talks between Russian President Vladimir Putin and his South Korean counterpart…

S.Korean Refiners Step Up U.S. Spot Crude Purchases

File Image: the rapidly expanding U.S. crude oil port of Corpus Christi, Texas (CREDIT: Port of Corpus Christi)

S.Korean refiners step up spot crude purchases; Mideast crude make up 77.7 pct of imports, lowest since 2004. South Korea's purchases of sweet crudes from the United States and Africa are growing as its refiners…

S. Korea's Crude Imports from Iran Double

South Korea imported 1.8 million tonnes of crude oil from Iran in January, up 108.8 percent from a year ago, preliminary data from the Korea Customs Service showed on Wednesday. That is equivalent to 13.2 million barrels, according to a Reuters calculation.

S.Korea Plans to Boost Iran Oil Imports

South Korea plans to boost imports of Iranian oil, especially condensate, this year to meet growing demand after sanctions on the Islamic nation were lifted in January. The world's fifth largest importer of crude is also a big buyer of condensate…

South Korea Increasingly Looks to Buy Brent Crude Oil

Seek more oil from Europe, Africa; Brent-Dubai spread narrowest since August 2015. Oil buyers in South Korea are expected to take advantage of relatively cheap Brent against Dubai and step up purchases of low-sulphur crude in early third quarter…

KOGAS to Receive first Cheniere LNG Cargo

File Image: A typical LNG Carrier at Sea (CREDIT: MISC)

KOGAS to receive first LNG cargo from Cheniere in July; this marks start of 20-year supply contract. Korea Gas Corp (KOGAS) will early next month receive its first liquefied natural gas (LNG) cargo under a long-term supply deal with U.S.

S.Korea to Ease Local Blending Rules

File Image (CREDIT: AdobeStock / (c) Leeylutung)

S.Korea to allow traders to blend fuels at oil terminals; planning to nearly double storage to 60 mln barrels by 2026. South Korea is in the process of easing blending restrictions at its oil storage terminals as the world's No.

S.Korean Rule Change to Allow Blending, Enhanced Regional Trading

File Image (CREDIT: AdobeStock / (c) Leeylutung)

S.Korea to allow traders to blend fuels at oil terminals; new regulation to be implemented from Oct 18. South Korea is in the process of easing blending restrictions at its oil storage terminals as the world's No.

Asian Imports of Iranian Oil Hit 5-month High

File Image (CREDIT: AdobeStock / (c) Jose Gill)

Imports of Iranian crude by major buyers in Asia rose for a second month in a row in August to hit their highest level since March, helped by a spike in purchases by China and South Korea. However, imports by…

Chinese Demand Ensures Asian LNG Rally Has Legs

© Altin Osmanaj / Adobe Stock

Unexpectedly strong demand from China, along with rising oil and coal prices, should keep Asian liquefied natural gas (LNG) spot levels buoyant this winter. Despite rising supplies from new plants, spot prices…

Cheniere Boosts LNG Tanker Fleet Amid Asian Demand Boom

© Kpics / Adobe Stock

U.S. liquefied natural gas (LNG) producer Cheniere Energy has expanded its shipping fleet with a flurry of spot vessel charters to keep up with Asian winter demand growth as spot prices hit three-year highs, market sources said.

China Rises to World's No.2 LNG Importer

File Image: A typical LNG Carrier at Sea (CREDIT: QGTC)

China's 2017 LNG imports to top South Korea's for first time; becomes key driver of spot LNG prices. China will become the world's second-biggest importer of liquefied natural gas (LNG) this year as it overtakes South Korea…

South Korean Yards Eyed for $3.8 Bln LNG Shipbuilding Deal

A little-known investment company said it intends to order up to 20 liquefied natural gas (LNG) carriers, probably from South Korean shipbuilders. The contracts would be worth as much as $3.8 billion, two people…

S.Korea Fuel Oil Imports Soar

© Igor Groshev / Adobe Stock

South Korea's move to shut coal-fired generators to control air pollution at the same time as nuclear reactors are going into scheduled maintenance is resulting in surging fuel oil imports, as utilities burn the dirty feedstock to meet power demand.

LNG Prices Rise as South Korea to Wrap Up Major Tender Award

Asian spot liquefied natural gas (LNG) prices rose this week as strong expected demand from South Korea added to appetite from India and Taiwan, while supply from the United States was slow to return from maintenance.

U.S. Challenges China's imports of North Korean Coal

Deputy Secretary Blinken Photo US Dept of State

China's imports of North Korean coal run counter to global sanctions, a senior U.S. official said on Saturday, adding that a U.S. missile system deployed in South Korea should "motivate" Beijing to pressure Pyongyang over its nuclear programme.

U.S. Energy Pipeline Developers to Seek Exemptions to Steel Tariff

© fottoo (Photo: Adobe Stock)

U.S. energy pipeline developers say they intend to pursue exemptions to the Trump Administration's proposed steel tariffs, as concerns grow for those companies and from key exporters to the United States like South Korea.

South Korea Iran Oil Imports Drop in March

Crude carrier: File picture CCL

South Korea's oil imports from Iran fell 76 percent in March from a month earlier as one of the two Korean refiners that import the crude started a shutdown for maintenance, according to Korean customs data and a refining source.

India Seeks Japan's Help to Build LNG Facilities

© FotoKieltyka.pl / Adobe Stock

India asked Japan on Tuesday to help build infrastructure needed to boost the usage of liquefied natural gas (LNG) in India and elsewhere in Asia, India's oil minister Dharmendra Pradhan said after a meeting with…

Buyers Seek US Waivers to Buy Iranian Oil amid New Sanctions

© nicolagiordano / Adobe Stock

South Korea said on Wednesday it would seek U.S. exemptions to buy Iranian oil, a path many big oil consumers are likely to follow in the wake of new U.S. sanctions on Tehran, which will tighten world oil markets…