AUSTRALIA: Motorists brace for higher fuel tax as white paper calls for ramp up in strategic oil reserves

(EnergyAsia, April 24 2015, Friday) — Australian mototrists will bear the brunt of the country’s plan to invest “billions and billions and billions of dollars” to raise its strategic petroleum reserves to meet at least 90 days of consumption from the current level of 52 days, said Industry Minister Ian Macfarlane.   This complete article […]

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MARKETS: OPEC’s oil export revenues, excluding Iran’s, to plunge by nearly half in 2015, predicts EIA

(EnergyAsia, April 17 2015, Friday) — Excluding Iran, the Organisation of Petroleum Exporting Countries (OPEC) could see their oil export earnings plunge by nearly half in 2015 to follow through on last year’s 11% decline, predicts the US Energy Information Administration (EIA). The sharp drop in crude prices since June dragged down the collective export […]

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VIETNAM: Russia’s Gazprom unit to invest in upstream activities, buy 49% stake in troubled refinery

(EnergyAsia, Monday April 14 2015, Tuesday) — Gazprom Neft, the oil subsidiary of Russia’s leading gas producer Gazprom, said it plans to invest in Vietnam’s upstream sector as well as acquire a 49% stake in the country’s only oil refinery at Dung Quat. Gazprom Neft said its venture into the Southeast Asian country will be […]

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INDIA: State firms to build oil storage terminal in Kerala state, Gulf Petroleum starts up depot in Gujarat

INDIA: State firms to build oil storage terminal in Kerala state, Gulf Petroleum starts up depot in Gujarat (EnergyAsia, April 10 2015, Friday) — A consortium of three state-owned Indian firms is planning to build an oil storage terminal in the country’s southwestern state of Kerala while UAE-based Gulf Petroleum recently started up its terminal […]

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MARKETS: US shale sector hopes for oil price recovery while global exploration costs seen falling 30%, say consultants

(EnergyAsia, April 9, 2015, Thursday) — Amid sharply reduced budgets and activities, the US shale sector is hoping for the stage to be set for oil prices to stabilise and eventually recover, said UK consultant Douglas-Westwood (DW). Another consultant Wood Mackenzie expects exploration costs to fall by a third, spurring drilling activity for 2016 to […]

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INDIA: Economy growing faster than China’s, to surpass combined size of Japan and Germany by 2019, says IMF

(EnergyAsia, April 7 2015, Tuesday) — Growing faster than China’s, the Indian economy will become the world’s third largest by 2019 to exceed the combined size of Japan and Germany, said International Monetary Fund (IMF) managing director Christine Lagarde.   This complete article is available to Members Only […]  

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