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Letter from Iran: Tehran's dreams and Moscow's deceptions
Russia is making a show of support for Iran as the two nations strengthen their ties, but the promised investment may never materialise
Asia’s NOCs chart paths to decarbonisation
But none of the companies are poised to abandon oil and gas anytime soon
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Pipeline imports and domestic production gains may limit LNG take, but Russia and Central Asia uncertainty could prompt buying activity
Rise of Brics challenges oil world order
The five economies are shaking up global markets, and they could be on the cusp of a major break from the existing order
Russia-India crude trade poses challenges
Western banking sanctions and the crude price cap cause headaches for New Delhi and Moscow
Letter from China: Price controls squeeze gas suppliers
Incomplete price reforms pose problems for both upstream and downstream players and threaten further shortages
Russia struggles to reroute gas exports
Distance and politics mean there are no easy solutions to Moscow’s pipeline problems
Low prices not luring Asian buyers back to LNG
Preferable nuclear and coal options suggest balanced Asian LNG market, at least over the summer
Opec+ cuts jar with China’s strong buying signals
Beijing likely to be unfazed by move amid growing alliance with Saudi Arabia
China holds all the cards in Russia’s eastern pivot
The Asian giant sees no reason to rush on energy cooperation
China’s carbon-neutrality ambition is likely to result in declining fuel demand in the 2040s
Refining China Petrochemicals Transport fuel Energy transition Russia Decarbonisation Net zero
Shi Weijun
Beijing
18 March 2022
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Energy transition to transform Asian refining

The move away from fossil fuels will cap refinery capacity expansion in Asia-Pacific, but petrochemical demand gives the sector options

Asia-Pacific’s refining capacity growth is set to slow in the long term as the region’s energy transition displaces demand for traditional fuels and as decarbonisation moves up government policy agendas, according to market participants at the Asian Refining and Petrochemicals Summit. Three long-term trends are driving the outlook for refined product demand in Asia-Pacific that have implications for refining in the region, Harry Ubhi, head of business development and origination at the trading arm of Italy’s Eni, told the conference in mid-March. In large emerging economies such as India and Indonesia, a rapidly growing middle class will support robust transport fuel demand growth into the 2

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