Otobong Tommy

PetroChina’s first-half net profit jumped 22 percent to 103.94 billion yuan on higher oil prices, even as weak Chinese demand pushed fuel sales lower.

Asia’s diesel exports to Africa are set to hit a four-and-a-half-year high in August as buyers replace falling Middle East supply disrupted by shipping risks.

Dangote Refinery has warned it may raise petrol exports as imports supplied about 43 percent of Nigeria’s petrol in July, complicating supply planning.

Sinopec chairman Hou Qijun has launched a sweeping overhaul at the world’s largest refiner, splitting it into four profit centres as fuel demand slides.

Oil prices fell further on Tuesday as investors shrugged off the latest US sanctions on Iran, with Brent down 1.0 percent to $91.27 a barrel.

Shell has drawn potential bidders, including ExxonMobil and LyondellBasell, for its US chemical assets, which could fetch up to $8 billion, the FT says.

Germany’s Uniper has signed a 15-year deal to import more than 30 terawatt-hours of gas a year from Norway’s Equinor from 2027.

Southeast Asia’s budget airlines hope the Middle East fuel shock has passed, but face a tough second half as thin margins and weak demand bite.

Norway will keep developing oil and gas in the Barents Sea regardless of the EU’s support for an Arctic drilling moratorium, its energy minister says.

Gas will start flowing next month from Australia’s Beetaloo basin to Darwin, testing developers’ hopes of launching a US-style shale gas boom.