Asia Pacific downstream news

KN Energies and Indel Petro have signed a memorandum of understanding in Vietnam to establish a framework for co-operation in energy and infrastructure projects in the country.

Petrovietnam Refining and Petrochemical Corp. (BSR) has issued a Request for Proposal for financing the Dung Quat Oil Refinery Expansion and Upgrade Project, with a proposed loan of about US$600 million.

Heavy industrial demand and rapid urbanisation drive propylene capacity additions in the region, GlobalData has reported.

China, the world’s largest importer of crude oil, imported less crude oil in 2Q26 following higher crude oil prices that resulted from disrupted flows through the Strait of Hormuz, the US EIA has reported.

Wood has been awarded a new contract from Binh Son Refining (BSR) to carry out Project Management Consultancy services for the Dung Quat Refinery Upgrade and Expansion Project in Vietnam.

HAMR Energy has secured up to AUS$32 million in conditional funding from the Australian Renewable Energy Agency to advance its landmark decarbonisation projects.

Asia continues to account for a major share of the global project pipeline, supported by ongoing investments in petrochemical plants, conventional refinery, transmission pipelines, and oil storage projects, GlobalData has reported.

The Saudi Basic Industries Corp. have announced the signing of a Project Development Agreement with Rongsheng Petrochemical Co. Ltd. to jointly advance the development of the Jintang New Materials Project in Zhoushan, Zhejiang Province, China.

ABB has won an order from Zhejiang Petroleum & Chemical to deliver ProcessMaster FEP600 electromagnetic flowmeters with Ethernet-APL (Advanced Physical Layer) connectivity for an upgrade at a large refining and petrochemical complex in China.

KBR's ROSE® technology has been successfully commissioned by HPCL Visakh refinery at its new residue upgradation facility (RUF) in India.