MARKETS: IEA holds forecast for 2014 global oil demand, sees non-OPEC supply gains offsetting OPEC decline

(EnergyAsia, April 17 2014, Thursday) — The International Energy Agency (IEA) has kept its latest forecast for 2014 global oil demand at 92.7 million b/d, unchanged from its March report. Growth in Asian demand will offset a decline in Russia which will experience an economic slowdown from the impact of the Crimea crisis. In its […]

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KAZAKHSTAN: Lukoil agrees to sell 50% stake in oil firm to partner Sinopec

(EnergyAsia, April 17 2014, Thursday) — Sinopec, Asia’s largest oil refiner, will soon fully own a Kazakhstan crude oil producing firm after agreeing to pay US$1.2 billion to buy out its equal partner, Russia’s Lukoil. The deal, expected to close by end-2014 after clearing regulatory and shareholder approvals, will strengthen the Chinese firm’s plan to […]

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SINGAPORE: SGX says value of 26 listed oil firms gained 8.5% over past 12 months

(EnergyAsia, April 16 2014, Wednesday) — Singapore Exchange (SGX) said its 26 listed oil services stocks rewarded investors with an average 8.5% gain through capital appreciation and dividends over the past 12 months. The 26 stocks had a market capitalisation a total of S$9.5 billion on Monday, with 18 distributing dividends at an average indicative […]

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AUSTRALIA: An overview of the natural gas industry, and its role in the global LNG trade

(EnergyAsia, April 16 2014, Wednesday) — Australians are concerned that they may end up paying higher prices for domestic natural gas supplies as the country surges ahead of Qatar to become the world’s largest exporter of liquefied natural gas (LNG) later this decade. In a recent survey, the Bureau of Resources and Energy Economics (BREE) […]

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CHINA: Net imports of petroleum and liquid fuels exceeded US last September, says EIA

(EnergyAsia, April 15 2014, Tuesday) — China overtook the US as the world’s largest net importer of petroleum and liquid fuels last September, said the US Energy Information Administration (EIA). Rising by a projected annual rate of just 5% between 2011 and 2014, China’s domestic fuels production is expected to lag behind consumption growth, said […]

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JAPAN: Abe Cabinet approves plan to expand coal’s role in energy mix, deals major setback to UN IPCC’s climate goals

(EnergyAsia, April 15 2014, Tuesday) — Days after the UN published a major report warning of further climate catastrophe from the world’s growing fossil fuels production and consumption, Japan announced it plans to develop coal as a major energy source. The government of Prime Minister Shinzo Abe last week approved a new national energy plan […]

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JAPAN: Support for coal-fired power plants in Indonesia and Turkey

(EnergyAsia, April 14 2014, Monday) — Japanese companies are helping efforts to develop coal-fired power plants in Indonesia and Turkey. They are working with Indonesia’s state-owned power producer PT PLN to build energy-efficient plants equipped with ultra supercritical coal (USC) technology, and conducting feasibility studies for two plants in southern Turkey. PLN and a group […]

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CHINA: Singapore’s Keppel Corp to manage Titan Petrochemicals’ shipyard in Quanzhou

(EnergyAsia, April 11 2014, Friday) — Singapore’s Keppel Offshore & Marine Ltd said its wholly owned subsidiary, FELS Offshore Pte Ltd, has signed an agreement to manage Titan Petrochemicals Group Limited’s shipyard in Quanzhou, China for 30 years. The shipyard is owned by main shareholder Chinese commodities trader Guangdong Zhenrong Energy Co Ltd (GDZR) and […]

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