Oil refining
Hengli, China’s silk-to-petrochemicals empire, faces the chill of US sanctions
The company’s main offshore unit is set to shut this month
Eneos to buy Chevron’s Singapore refinery stake, Asian assets for US$2.2 billion
The latest sale includes Chevron’s Penjuru terminal and lubricants facility in Singapore
Hengli’s ex-Singapore unit dismisses staff after US sanctions, at risk of being wound down: sources
Singapore is an important base for many China-based firms seeking to source crude and metals
China’s independent crude refiners cut output in May as losses mount amid Iran war: sources
Some of the smaller refiners have shut their plants for maintenance, sources say
China’s private refiners seek Beijing approval to cut run rates as Iran war hits margins
Many smaller operations have been grappling with weeks of deepening losses
China asks banks to pause new loans to US-sanctioned refiners
Tensions are escalating between the superpowers just weeks before a long-awaited meeting
China uses anti-sanctions law to counter US blacklisting of refiners that bought Iranian crude
This comes less than two weeks before US President Donald Trump is due to visit Beijing
China’s rare defiance of US sanctions sparks showdown over banks
The Asian nation has long been the single largest buyer of Teheran’s oil shipments
US warns of sanctions risks for Chinese refiners of Iranian oil
The move risks adding yet another irritant for China ahead of an expected summit between US President Donald Trump and China’s Xi Jinping next month
Chinese refiner Hengli, sanctioned by US, restructures Singapore unit: sources
Washington sanctions refinery unit for allegedly buying billions of dollars in Iranian oil
