MARKETS: IEA suggests oil prices still has room to fall with global supply still rising and demand growth weakening

(EnergyAsia, October 31 2014, Friday) — Having crashed nearly 30% since June, world oil prices may still have room to fall further as global supply is rising while demand growth is slowing down rapidly, suggests the International Energy Agency (IEA). Brent is trading near a four-year low, having fallen below US$83 a barrel this week […]

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MARKETS: OPEC maintains global economic outlook, oil demand and supply forecasts for 2014 and 2015

(EnergyAsia, October 30 2014, Thursday) — Maintaining its outlook for the global economy, the Organisation of Petroleum Exporting Countries (OPEC) has also retained its latest forecasts for world oil demand and supply for 2014 and 2015 unchanged from its previous report in September. In its October report, the cartel said it expects the world to […]

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JAPAN: Tepco-Chubu Electric alliance lead country’s charge for lower LNG import prices, energy projects and trade

(EnergyAsia, October 30 2014, Thursday) — Two of the world’s largest liquefied natural gas (LNG) importers in Japan said they will team up to demand better prices and terms from suppliers as the country remains far from reviving its idled nuclear power plants that used to generate 30% of its electricity.  This complete article is […]

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MIDDLE EAST: IMF holds out hope for region and North Africa to stage “fragile” recovery despite worsening conflicts

(EnergyAsia, October 29 2014, Wednesday) — Against the odds, the International Monetary Fund (IMF) has predicted that the world’s most politically volatile region will experience faster economic growth over the next two years. The fund expects the combined economies of the Middle East, North Africa, Pakistan and Afghanistan to grow by 2.7% this year and […]

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INDONESIA: LNG imports set to surge, BP awards contract for US$12 billion expansion of project

(EnergyAsia, October 27 2014, Monday) — Indonesia is preparing to meet an increase in domestic natural gas consumption through new supply contracts and BP’s award of a major contract for the US$12 billion expansion of the Tangguh liquefied natural gas (LNG) project in West Papua province. In the country’s largest domestic LNG deal, energy regulator […]

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RUSSIA: Rosneft, CNPC to speed up oil refinery project, launch LNG cooperation

(EnergyAsia, October 21 2014, Tuesday) — Russia’s largest energy firm, Rosneft, said it and China National Petroleum Corporation (CNPC) have agreed to expand their strategic partnership by venturing into liquefied natural gas projects, and accelerating the joint construction of a long-delayed oil refinery in China and development of upstream projects in Russia. Rosneft CEO Igor […]

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SINGAPORE: PacificLight Power registers power plant with UN to earn carbon credits

(EnergyAsia, October 20 2014, Monday) — PacificLight Power Pte Ltd (PLP) said it has secured Singapore’s largest project to earn carbon emissions credits following the registration of its S$1.2 billion power plant under the UN’s clean development mechanism to fight climate change. (US$1=S$1.27). The company owns and operates the 800MW state-of-the-art combined cycle gas turbine […]

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AUSTRALIA: Caltex starts up fuel terminal converted from shut-down refinery at Kurnell

(EnergyAsia, October 16 2014, Wednesday) —- Caltex Australia said it has completed the two-year conversion of its 58-year-old oil refinery at Kurnell in Sydney into the country’s largest fuels import terminal this week. With the loss of the 124,500-b/d refinery, Caltex, half-owned by US major Chevron, will be left with only the Lytton plant in […]

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