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China refiners stoke petrochemical glut in market-share war

*Hengli Petrochemical’s new refining, petrochemical complex is seen at Changxing island in Dalian, Liaoning province, China July 16, 2018. REUTERS/Chen Aizhu – Ethylene, propylene capacity growth outpaces demand– Glut threatens Asian, European rivals– China’s producers […]

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Nigeria owing traders $3bn for oil swaps

*President Bola Tinubu Lagos – Nigeria is owing trading houses up to $3 billion for fuel supplies under oil swap deals also known as Direct Purchase Direct Sale, DSDP. Reuters, quoting four traders and executives, […]