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☆ Oil rises as China moves to support economy, tropical storm in focus
▼ + stars: | 2023-08-28 | by ( Alex Lawler | ) www.reuters.com time to read: +2 min

China National Petroleum Corporation (CNPC)'s Dalian Petrochemical Corp refinery is seen near the downtown of Dalian in Liaoning province, China July 17, 2018. The market is also keeping an eye on Tropical Storm Idalia and any risk it poses to oil and gas output in the U.S. Gulf. The focus today is on "China actions to support its economy, Tropical Storm Idalia heading for Florida and whether Brent can regain momentum on a break above $85," said Ole Hansen, head of commodity strategy at Saxo Bank. That "should see some short-term support for the oil price", he said. Oil prices have remained above $80 a barrel with support from falling oil inventories and supply cuts from the OPEC+ group of oil producers.

Persons: Chen Aizhu, Idalia, Fed's Powell, Brent, Ole Hansen, Tony Sycamore, Jerome Powell, Tina Teng, Florence Tan, Sudarshan, Jason Neely, Kirsten Donovan, Louise Heavens, Sharon Singleton Organizations: China National Petroleum Corporation, Dalian Petrochemical Corp, REUTERS, . West Texas Intermediate, Saxo Bank, CMC, Reuters, Thomson Locations: China, Dalian, Liaoning province, Florida, U.S . Gulf, Brent, Cuba, U.S, OPEC, Saudi Arabia

China National Petroleum Corporation (CNPC)'s Dalian Petrochemical Corp refinery is seen near the downtown of Dalian in Liaoning province, China July 17, 2018. CMC markets analyst Tina Teng said a soft-landing scenario for the U.S. economy buoyed energy markets on Monday, despite the Federal Reserve's hawkish stance on rate hikes. That "should see some short term support for the oil price", he said. Oil prices have remained above $80 a barrel on support from falling oil inventories and supply cuts from the OPEC+ collective of oil producers. Reporting by Florence Tan and Sudarshan Varadhan; Editing by Christopher Cushing and Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

Persons: Chen Aizhu, Baker Hughes, Brent, WTI, Jerome Powell, Tony Sycamore, Sycamore, Tina Teng, Idalia, Florence Tan, Sudarshan, Christopher Cushing, Clarence Fernandez Organizations: China National Petroleum Corporation, Dalian Petrochemical Corp, REUTERS, U.S, West Texas, IG, PMI, CMC, Federal, ANZ Research, Thomson Locations: China, Dalian, Liaoning province, SINGAPORE, U.S, United States, Caribbean, Florida, Gulf, OPEC, Iran, Venezuela

China National Petroleum Corporation (CNPC)'s Dalian Petrochemical Corp refinery is seen near the downtown of Dalian in Liaoning province, China July 17, 2018. REUTERS/Chen Aizhu/File Photo Acquire Licensing RightsCompanies Baker Hughes Co FollowSINGAPORE, Aug 28 (Reuters) - Oil prices were marginally lower on Monday as investors stayed fretful over the pace of economic growth in China, and the prospect of further U.S. interest rate hikes that could dampen fuel demand. Oil rose in early Asian trade before paring gains, as China's move to halve stamp duty on stock trading to boost struggling markets temporarily pushed up prices. In the United States, energy firms cut the number of active oil rigs for a ninth month in August, Baker Hughes said in a report. Reporting by Florence Tan and Sudarshan Varadhan; Editing by Christopher Cushing and Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

China National Petroleum Corporation (CNPC)'s Dalian Petrochemical Corp refinery is seen near the downtown of Dalian in Liaoning province, China July 17, 2018. Brent crude settled 6 cents lower at $84.42 a barrel, after touching a session high of over $85 earlier in the day. Tropical Storm Idalia was expected to intensify into a major hurricane on Monday as it barrelled toward Florida's Gulf Coast. Some worried it could hit the eastern side of U.S. Gulf Coast crude production. Oil prices have remained above $80 a barrel with support from falling oil inventories and supply cuts from the OPEC+ group of oil producers.

Persons: Chen Aizhu, Idalia, Brent, Jerome Powell, Dennis Kissler, Ole Hansen, Tony Sycamore, Alex Lawler, Florence Tan, Sudarshan, Jason Neely, Kirsten Donovan, Louise Heavens, Sharon Singleton, David Gregorio, Tomasz Janowski Organizations: China National Petroleum Corporation, Dalian Petrochemical Corp, REUTERS, HOUSTON, . West Texas, Federal, BOK, Saxo Bank, Gulf, Reuters, Thomson Locations: China, Dalian, Liaoning province, Florida, U.S, Gulf Coast, Gulf, OPEC, Saudi Arabia, London

REUTERS/Chen Aizhu/File Photo Acquire Licensing RightsNEW YORK, Aug 25 (Reuters) - Oil futures climbed about 1% to a one-week high on Friday as U.S. diesel prices soared, the number of oil rigs dropped and a fire broke out at a refinery in Louisiana. Brent futures rose $1.12, or 1.3%, to settle at $84.48 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 78 cents, or 1.0%, to settle at $79.83. Diesel futures soared about 5% to a near seven-month high, boosting the diesel crack spread , a measure of refining profit margins, to its highest since January 2023. "The main thing was concern about diesel prices, the diesel crack spread and worries about diesel shortages when refineries go into maintenance," said Phil Flynn, an analyst at Price Futures Group. He added prices also drew support from a fire at a Louisiana refinery and a drop in U.S. oil rigs.

Persons: Chen Aizhu, Phil Flynn, Brent, WTI, Baker Hughes, Jerome Powell, Morgan Stanley, John Evans, Natalie Grover, Laura Sanicola, Muyu Xu, David Goodman, Jason Neely, David Gregorio, Cynthia Osterman Organizations: China National Petroleum Corporation, Dalian Petrochemical Corp, REUTERS, U.S, West Texas, Diesel, Price Futures Group, U.S ., Federal, Thomson Locations: China, Dalian, Liaoning province, Louisiana, Brent, , Louisiana, U.S, Germany, Europe's, Norwegian, London, Washington, Singapore

☆ Oil set for 2nd weekly fall on firm dollar as supply worries ebb
▼ + stars: | 2023-08-25 | by ( Muyu Xu | ) www.reuters.com time to read: +3 min

Brent crude rose 30 cents, or 0.4%, to $83.66 a barrel by 0434 GMT, while U.S. West Texas Intermediate crude was up 31 cents, also 0.4%, at $79.36 a barrel. Crude prices are set to fall between 1.5%-2.5% for the week, a second consecutive week of decline. A strong dollar makes oil more expensive for holders of other currencies, denting demand. Further weighing on market sentiment, U.S. officials are drafting a proposal that would ease sanctions on Venezuela's oil sector, allowing more companies and countries to import its crude oil. Analysts estimated that the top oil exporter will likely roll over a voluntary oil cut of 1 million barrels per day for a third consecutive month into October, amid uncertainty about supplies and as the kingdom targets drawing down global inventories further.

Persons: Chen Aizhu, Jerome Powell, Brent, Jun Rong, Powell's, Laura Sanicola, Muyu Xu, Jacqueline Wong Organizations: China National Petroleum Corporation, Dalian Petrochemical Corp, REUTERS, Companies United, Federal, U.S, West Texas, IG, Haitong Futures, Analysts, Thomson Locations: China, Dalian, Liaoning province, Companies United States, America, Turkey, Kurdistan, Iraq, Saudi Arabia

☆ Oil falls on China worries despite tighter US supply
▼ + stars: | 2023-08-16 | by ( Trixie Sher Li Yap | ) www.reuters.com time to read: +3 min

China National Petroleum Corporation (CNPC)'s Dalian Petrochemical Corp refinery is seen near the downtown of Dalian in Liaoning province, China July 17, 2018. "Concerns that China's faltering economy will weigh on demand offset tight supply in the oil market," ANZ analysts said in a client note. "Crude inventories at the Cushing hub are seen to be falling to their lowest level since April. U.S. crude stocks dropped by about 6.2 million barrels last week, according to market sources citing American Petroleum Institute figures. Supply cuts by Saudi Arabia and Russia, part of the OPEC+ group comprising the Organization of the Petroleum Exporting Countries (OPEC) and allies, have pushed up oil prices over the past seven weeks.

Persons: Chen Aizhu, Cushing, Rystad, Claudio Galimberti, Arathy Somasekhar, Trixie Yap, Sonali Paul Organizations: China National Petroleum Corporation, Dalian Petrochemical Corp, REUTERS, Brent, U.S, West Texas, ANZ, American Petroleum Institute, Reuters, National Australia Bank, of, Petroleum, Thomson Locations: China, Dalian, Liaoning province, Beijing, Saudi, Saudi Arabia, Russia, OPEC, Houston, Singapore

☆ Russia's Far East suffers flooding in Khanun's wake, over 2,500 people evacuated
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +1 min

Aug 14 (Reuters) - Floods in Russia's Far East had forced the evacuation of more than 2,500 people by Monday, the ministry of emergency situations said, after Russia joined the list of countries battered by rainstorms in the wake of Typhoon Khanun. Russian Emergencies Ministry/Handout via REUTERS/File photoIn the Russian Far East, 28 settlements were cut off by Monday. Large stretches of roads and 4,620 houses were flooded in 15 municipalities, the ministry said on the Telegram channel. The ministry said floodwaters had begun to recede in most parts of Primorye, and the worst flooding was on the Malinovka river near the village of Rakitnoye. Reporting by Lidia Kelly in Warsaw; Editing by Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

Persons: Khanun, Lidia Kelly, Simon Cameron, Moore Organizations: Russian Emergencies Ministry, REUTERS, Telegram, Thomson Locations: Russia's Far, Russia, Japan, China, Liaoning, Ussuriysk, Russian, Vladivostok, Primorye, Rakitnoye, Warsaw

BEIJING, Aug 13 (Reuters) - The death toll from a mudslide last week in China's northwestern Shaanxi province has risen to four, state radio said on Sunday, as the country grapples with unusually high summer rainfall. TYPHOON WEAKENSMeanwhile, Typhoon Khanun weakened into a tropical depression when it made landfall in China's Liaoning province on Friday night. Overnight rainfall in Liaoning peaked at 52 millimetres (2 inches) per hour, with four reservoirs exceeding flood limits, CCTV said. A video posted by state media People's Daily showed thick swirling clouds hanging low above the ground, darkening the sky. Reporting by Andrew Hayley and Ethan Wang; Editing by Raju Gopalakrishnan and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Typhoon Khanun, Khanun, Doksuri, Andrew Hayley, Ethan Wang, Raju Gopalakrishnan, Jamie Freed Organizations: China Central Television, Xinhua, Liaoning province's Anshan, Flood, Drought, Ministry of Emergency Management, CCTV, Thomson Locations: BEIJING, China's, Shaanxi, Xian, China's Liaoning, Liaoning, Tianjin, Chongqing, China, Xinjiang

☆ Factbox: Impact of floods in China after Typhoon Doksuri
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +1 min

[1/2] A view of damaged cardboard boxes at Baixiang packaging products factory after the rains and floods brought by remnants of Typhoon Doksuri, in Zhuozhou, Hebei province, China August 7, 2023. REUTERS/Tingshu Wang/file photoBEIJING, Aug 10 (Reuters) - Extreme rain battered northern China after Typhoon Doksuri made landfall in southern Fujian province on July 28, flooding cities including Beijing, killing at least 60 people and causing extensive damage to homes, crops, livestock and infrastructure. Following is a tally of the damage, as reported by state media:BEIJINGAs of 12 a.m. (-1day 1600 GMT) Aug. 9* 33 deaths, 18 still missing* 59,000 homes collapsed, 147,000 homes damaged* 225,000 mu (15,000 hectares) of crops strickenBAODING PREFECTURE IN HEBEIAs of 12 p.m. (0400 GMT) Aug. 5* 10 dead, 18 missing* 4,448 homes collapsed, 7,286 homes damaged* 79,000 hectares of crops affected* 284 bridges and over 550 kilometres of rural roads ruined* 17 billion yuan ($2.36 billion) in direct economic lossesSHULAN CITY IN JILIN PROVINCEAs of 10 p.m. (1400 GMT) Aug. 6* 14 deaths, 1 missingDANDONG CITY IN LIAONING PROVINCEAs of Aug. 1* Four deadHEILONGJIANGAs of 12 p.m. (0400 GMT) Aug. 9* 3.87 million mu (258,000 hectares) of crops stricken* 23,708 homes collapsed or damaged* 149 bridges ruined, 352 culverts, 242,000 metres of roadbed and 1,300 greenhouses destroyedFUJIAN PROVINCEAs of 2 p.m. (0600 GMT) July 28* 262.3 hectares of crops damaged* 52.27 million yuan ($7.25 million) in direct economic losses($1 = 7.2068 Chinese yuan)Reporting by Beijing Newsroom; Editing by Miral Fahmy and Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Persons: Doksuri, Tingshu Wang, Miral Fahmy, Sherry Jacob, Phillips Organizations: REUTERS, CITY, Beijing, Thomson Locations: Zhuozhou, Hebei province, China, BEIJING, Fujian, Beijing, BAODING PREFECTURE, HEBEI, JILIN PROVINCE, LIAONING, HEILONGJIANG, FUJIAN PROVINCE

☆ Typhoon Doksuri and Khanun: Thousands in China flee homes as one soaks Beijing and the second approaches Typhoon Doksuri lashes Beijing and floods parts of China, while another storm approaches
▼ + stars: | 2023-07-31 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +6 min

A civilian rescue team help flood-stranded people onto a rubber boat in Quanzhou in southeast China's Fujian province on July 29, 2023. Even as Doksuri tapers off, authorities are preparing for incoming Khanun, the sixth typhoon projected to hit China this year. This weekend, a total of 1,015 people suffered heat-related diseases, which the KDCA defines as heat stroke, heat exhaustion, heat cramps, heat syncope and heat edema. The city of Gyeongju saw temperatures reach 36.8 degrees Celsius (98.24 Fahrenheit) and Jeongseon county saw temperatures reach 36.1 Celsius (96.98 Fahrenheit), according to the Korea Meteorological Administration. Seoul’s affluent Gangnam district saw temperatures reach to 35.7 degrees Celsius (around 96.2 Fahrenheit), while North Gyeongsang Province saw temperatures reach 38.1 degrees Celsius (100.58 degrees Fahrenheit).

Persons: Doksuri, hurtled, Saomi, Rita, Khanun Organizations: CNN, CCTV, Xinhua, China Meteorological Administration, Xinhua News Agency, Getty, CNN Weather, Joint Typhoon Warning, South Korea swelters, Korea Disease Control, Prevention Agency, Korea Meteorological Administration Locations: Beijing, China, Fujian, Liaoning, Hebei, Quanzhou, China's Fujian, Philippines, Taiwan, Zaozhuang, China's Shandong, Zhejiang, Okinawa, East, Naha, Miyako, Asia Asia, South Korea, Korea, Gyeongju, Jeongseon, Gangnam, North Gyeongsang Province

☆ Check out a ghost town of deserted Chinese mega-villas built for multimillionaires that's now overrun by farmers and left to rot
▼ + stars: | 2023-07-24 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +6 min

Chinese farmers have moved into a cluster of abandoned villas in China to grow crops and rear cattle. Jade Gao/AFP via Getty ImagesThe half-built villas are now overrun by local farmers, who plow the land and plant crops on the overgrown lawns of abandoned villas. Local farmers now plow the land of the abandoned development. Jade Gao/AFP via Getty ImagesThe insides of the buildings look post-apocalyptic too, like shots straight out of "The Last of Us." Shenyang's ghost villas are just one of many "rotten" real estate projects across China's urban landscapeThe interior of a deserted housing sales building.

Persons: Jade Gao, —, riche, Guo, who's, Li Gan, Gan Organizations: Twitter, Service, AFP, Greenland Group, Getty, Getty Images, Texas, M University, Survey, Research Center, China Household Finance, Chengdu's Southwestern University of Finance, Economics Locations: China, AFP, Weibo, Wall, Silicon, Shenyang, China's, Liaoning province, Greenland, Evergrande, Li

☆ Fossil reveals the moment a cat-size mammal took on a dinosaur three times its size
▼ + stars: | 2023-07-18 | by ( Katie Hunt | ) edition.cnn.com time to read: +5 min

CNN —Sometime during the Cretaceous Period, 125 million years ago, a feisty mammal the size of a domestic cat encountered a dinosaur three times its size and thought it looked like a tasty meal. “The inherited wisdom has been that the ecological interactions were unilateral: The bigger dinosaurs ate the smaller mammals. What makes this fossil exceptional is that the mammal is caught in the moment of attacking the almost fully grown dinosaur. A detail of the fossil shows the left forepaw of Repenomamus robustus wrapped around the lower jaw of the dinosaur. Gang HanPredator vs. scavengerThe fossil shows R. robustus gripping onto the lower jaw of Psittacosaurus with its left forepaw.

Persons: CNN —, paleobiologist Jordan Mallon, Michael W, Skrepnick, ”, Mallon, “, —, ” Mallon Organizations: CNN, Canadian Museum of Nature Locations: China, China’s Liaoning province

☆ A new fossil shows a prehistoric badger-like mammal and a dinosaur locked in 'mortal combat'
▼ + stars: | 2023-07-18 | by ( Jenny Mcgrath | ) www.businessinsider.com time to read: +4 min

A new fossil shows a badger-like mammal biting into a dinosaur. A new paper in Scientific Reports describes a fossil of the cat-sized mammal, Repenomamus robustus, locked in "mortal combat" with a Psittacosaurus that was three times as large. The newer fossil has quite a bit of evidence suggesting that the mammal was attacking the dinosaur. "I think the clincher is just the fact that the hind leg of the mammal is trapped within the folded hind leg of the dinosaur," Mallon said. "The question that comes up is, what is a mammal doing attacking a dinosaur that's so much larger than itself?"

Persons: Jordan Mallon, Michael Skrepnick, Mallon, Han Organizations: Service, Canadian Museum of Nature Locations: Wall, Silicon, China's Liaoning Province

☆ Dramatic fossil shows pugnacious mammal attacking a dinosaur
▼ + stars: | 2023-07-18 | by ( Will Dunham | ) www.reuters.com time to read: +4 min

[1/3] Fossilized skeletons dating to about 125 million years ago from China showing the entanglement of the dinosaur Psittacosaurus lujiatunensis and the mammal Repenomamus robustus are seen in this 2022 handout photograph. A dramatic fossil unearthed in northeastern China shows a pugnacious badger-like mammal in the act of attacking a plant-eating dinosaur, mounting its prey and sinking its teeth into its victim's ribs about 125 million years ago, scientists said on Tuesday. Dating to the Cretaceous Period, it shows the four-legged mammal Repenomamus robustus - the size of a domestic cat - ferociously entangled with the beaked two-legged dinosaur Psittacosaurus lujiatunensis - as big as a medium-sized dog. "Here, we have good evidence for a smaller mammal preying on a larger dinosaur, which is not something we would have guessed without this fossil," Mallon added. The researchers discounted the idea that the Repenomamus and Psittacosaurus fossil showed a mammal merely scavenging a carcass.

Persons: Read, paleobiologist Jordan Mallon, Mallon, Xiao, chun Wu, Psittacosaurus, Repenomamus, Will Dunham, Rosalba O'Brien Organizations: dinos, Canadian Museum of Nature, Thomson Locations: China, WASHINGTON, Ottawa, Liaoning Province, Mongolia

☆ BYD seeks nod for $1 billion plan to build EVs and batteries in India
▼ + stars: | 2023-07-14 | by ( ) www.cnbc.com time to read: +2 min

China's BYD Co has submitted a $1 billion investment proposal to build electric vehicles and batteries in India in partnership with a local company, three people with direct knowledge of the plan told Reuters. The longer-term plan is to build a full line-up of BYD-brand EVs in India from hatchbacks to luxury models, one of the three people said. BYD, the world's largest producer of EVs and plug-in hybrid vehicles, did not immediately respond to a request for comment. If the India investment is approved, it would give BYD a presence in all major global car markets with the exception of the United States. The investment proposal also includes a plan by BYD and Megha to set up charging stations in India and build research and development and training centres, the sources said.

Persons: China's BYD, BYD, Tesla, EVs Organizations: Auto, Reuters, BYD Locations: Shenyang, Liaoning Province of China, India, Hyderabad, hatchbacks, United States

☆ Fact Check-Graphic video of man assaulting woman was filmed in China, not Spain
▼ + stars: | 2023-06-29 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

Content warning: graphic footage in social media linksA video circulating online that shows a man assaulting a woman in the Chinese city of Dalian has been miscaptioned by some social media users, who falsely claim that it shows a migrant carrying out an attack in Spain. One Facebook user uploaded the clip (here) along with the caption: “Muslim invader attacking a woman in Spain. The incident actually took place in Dalian, Liaoning province in China, on June 25, 2019, according to local reports (here, here and here). A 31-year-old man from Dalian was arrested, the local media reports said. The assault took place in Dalian, China, not in Spain.

Persons: Read Organizations: Reuters Locations: Dalian, Spain, Liaoning, China

☆ Corruption inquiry in Australia uncovers China links to state lawmaker
▼ + stars: | 2023-06-29 | by ( Kirsty Needham | ) www.reuters.com time to read: +3 min

SYDNEY, June 29 (Reuters) - The former premier of Australia's most populous state engaged in corrupt conduct involving another lawmaker with whom she was in a secret romantic relationship, a years-long corruption inquiry that examined business dealings with China said on Thursday. The inquiry said Maguire sought to use his government office to "create a network between China and Australia and to make a commission in multiple ways". The commission found Maguire engaged in "serious corrupt conduct" between 2012 and 2018 for the migration scheme and other misconduct. It said he misused his role as chairman of the New South Wales Parliament's Asia Pacific Friendship Group to advance the commercial interests of a Chinese business association in South Pacific nations. The commission said it would seek advice from the Director of Public Prosecutions on whether further prosecutions should be commenced into Maguire.

Persons: Gladys Berejiklian, Daryl Maguire, Maguire, Berejiklian, Barry O'Farrell, Kirsty Needham, Stephen Coates Organizations: SYDNEY, New South Wales Independent, Corruption, New, Liberal, Australian Council, Australia, Pacific Friendship Group, New South Wales, Public, Maguire, Thomson Locations: Australia's, China, New, New South Wales, Berejiklian, Australia, South Pacific, Beijing, Sydney, Liaoning, New South

☆ Corruption inquiry in Australia's NSW state uncovers China links to lawmaker
▼ + stars: | 2023-06-29 | by ( Kirsty Needham | ) www.reuters.com time to read: +2 min

SYDNEY, June 29 (Reuters) - The former premier of Australia's most populous state engaged in corrupt conduct involving another lawmaker with whom she was in a secret romantic relationship, a years-long corruption inquiry that examined business dealings with China said on Thursday. Maguire told the inquiry he had received envelopes full of thousands of dollars in cash at his parliament office as part of a scheme for Chinese nationals to fraudulently acquire visas. The commission found Maguire engaged in "serious corrupt conduct" between 2012 and 2018 for the migration scheme and other misconduct. Maguire also misused his office by receiving a fee to introduce the party secretary of Liaoning province in China to then NSW premier Barry O'Farrell at parliament in 2012, it said. The commission said it would seek advice from the Director of Public Prosecutions on whether further prosecutions should be commenced into Maguire.

Persons: Gladys Berejiklian, Daryl Maguire, Maguire, Berejiklian, Barry O'Farrell, Kirsty Needham, Stephen Coates Organizations: SYDNEY, New South Wales Independent, Corruption, NSW, Liberal, NSW Parliament's, Pacific Friendship Group, Public, Maguire, Thomson Locations: Australia's, China, New, Berejiklian, Shenzhen, South Pacific, Australia, Beijing, Sydney, Liaoning

New capacity in China is expected to make up more than half of that growth, according to the International Energy Agency. Reuters GraphicsIn 2023, WoodMac sees China's output growth creating a local surplus of 4.24 million metric tons of ethylene and an even bigger oversupply of propylene at 8.69 million metric tons. Reuters GraphicsMARKET SHARE BATTLENewly launched refinery complexes by state giant PetroChina's (601857.SS) Guangdong Petrochemical and privately-run Jiangsu Shenghong Petrochemical have added to surging petrochemical supply from mega refiners Zhejiang Petrochemical Corp and Hengli Petrochemical (600346.SS) that has come online in recent years. Rongsheng Petrochemical (002493.SZ) and Hengyi Petrochemical (000703.SZ) swung to net losses in the first quarter. While Chinese demand from some sectors such as inexpensive clothing and daily essentials is robust, other sectors such as automative have yet to recover in line with expectations, said Salmon Lee, global head of polyesters at consultancy WoodMac.

Persons: Chen, refiners, China's, Wood Mackenzie, WoodMac, Ganesh Gopalakrishnan, TotalEnergies's, Salmon Lee, Lee, Mohi Narayan, Andrew Hayley, Matthew Chye, Florence Tan, Sonali Paul Organizations: REUTERS, Reuters, International Energy Agency, Reuters Graphics, Guangdong Petrochemical, Jiangsu Shenghong Petrochemical, Zhejiang Petrochemical Corp, Hengli Petrochemical, Sinopec, Rongsheng Petrochemical, Hengyi Petrochemical, Thomson Locations: Dalian, Liaoning province, China, Asia, Europe, U.S, Guangdong, Jiangsu, China's, New Delhi, Beijing

☆ North Korea spent the pandemic building a huge border wall
▼ + stars: | 2023-05-26 | by ( ) www.reuters.com time to read: +11 min

As the pandemic began, North Korea moved to seal its northern borders, tightening control over informal trade routes and making escape harder for defectors. Nov. 16, 2019 Minimal security features visible along North Korea’s border with Russia. Food shortages in North Korea have worsened in recent months, due in part to the border closures, according to international experts. Still, he said, there were reports of foreign shows such as the South Korean hit “Squid Game” finding their way into North Korea. “It's all the more reason for the international community to step up efforts to support North Korean rights,” he said.

CNN —South Korean soccer star Son Jun-ho has been arrested in China for allegedly accepting bribes as Beijing clamps down on alleged corruption in the upper ranks of Chinese football. A South Korean Foreign Ministry spokesperson said Tuesday the ministry was aware of Son’s situation and that local Korean diplomatic missions were providing consular assistance. Wang said China would provide South Korean officials with the “necessary facilitation” to perform their consular duties. The Korea Football Association (KFA) said it had written to the Chinese Football Association and the Asian Football Confederation regarding the player on Tuesday but had not yet heard back. Vice President Kim Jeong-bae was checking on Son’s condition with the South Korean Foreign and Sports Ministries, a KFA official told CNN.

☆ China says S.Korean soccer player detained for suspected bribery
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: 1 min

BEIJING, May 16 (Reuters) - China's foreign ministry said on Tuesday a South Korean soccer player is suspected of taking bribes from non-state workers and has been detained by the public security department of Liaoning province. China is a country that follows the rule of law and handles relevant cases in accordance with the law, ministry spokesperson Wang Wenbin told a news briefing. South Korean soccer player Son Jun-ho is being held in police custody in northeast China in connection with a bribery case, a Korean diplomatic source said on Monday. read moreReporting by Beijing Newsroom; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.

CNN —A Taiwan-based book publisher has been placed under investigation in China on suspicion of “endangering state security,” Beijing said Tuesday amid mounting concern over his disappearance. Li’s detention comes at a tense moment in cross-strait relations, and several Taiwan citizens have been detained in China on state security grounds in recent years. CNN has reached out to Taiwan’s Mainland Affairs Office to inquire about Li’s citizenship status. One of them, Lam Wing-kee, has said he was kidnapped by Chinese “special forces” after crossing the border into mainland China from Hong Kong. Hong Kong used to be a hub for publishing politically sensitive books that would be banned in mainland China.

The project is expected to cost 83.7 billion yuan ($12.2 billion), partner Panjin Xicheng Industrial Group said in a statement on WeChat on Sunday. Construction at the complex will start in the second quarter after the project secures the required administrative approvals, Aramco said. Before the pandemic, Aramco signed two other initial agreements for refinery-petrochemical investments in China. The other is with Shandong Energy that includes a potential crude supply agreement and chemical products offtake deal, as well as exploring collaboration on an integrated refining and petrochemical complex in China. Earlier in March, Saudi Aramco also broke ground on a $7 billion project to produce petrochemicals from crude oil at its South Korean affiliate S-Oil Corp's (010950.KS) refining complex in the port city of Ulsan.

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