All tagged Sinopec

Trump Playing Hardball Gives Iran Oil Buyers Costly Headache

◢ Asia is more dependent on oil imports than any other region and has been repeatedly buffeted by America’s campaign to isolate Iran, once OPEC’s second-largest producer. While they’ll be able to find other supplies, they face the prospect of having to pay more, potentially accelerating inflation and putting pressure on their economies.

Sinopec Persists With Iran Refinery Upgrade

◢ China's state-controlled Sinopec is pressing ahead with a USD 1.06bn upgrade project at Iran's 400,000 b/d Abadan refinery, despite the imminent return of US sanctions on Iran's energy sector. Its commitment will come as some relief for Tehran ahead of the 4 November re-imposition of US sanctions on its energy sector.