Archive | March, 2012

MARKETS: Canadian crude discount to US WTI to grow, to average US$27 in 2014, predicts BENTEK Energy

(EnergyAsia, March 29 2012, Thursday) — Western Canadian Select (WCS) crude prices will continue to weaken against West Texas Intermediate (WTI) and will sell for an average discount of US$27 below the US benchmark in 2014, predicts BENTEK Energy, a US-based energy markets information and analytics company. Earlier this week, the Canadian discount surged above […]

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ASIA: Rising LNG demand to drive region’s offshore marine growth

(EnergyAsia, March 29 2012, Thursday) — The following is an edited version of an article written by Alex Bailey on behalf of Seatrade, a producer of maritime and cruise publications, conferences and exhibitions. Soaring demand for liquefied natural gas (LNG) across Asia is driving major new investments into exploration and infrastructure capabilities. This will stimulate […]

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MARKETS: OPEC sees 2012 world oil demand growth at 860,000 b/d, up from 800,000 b/d last year

(EnergyAsia, March 29 2012, Thursday) — OPEC expects world oil demand to grow by 860,000 b/d, or 0.98%, to 87.84 million in 2012, unchanged from its previous month’s forecast, but still above last year’s increase of 800,000 b/d. The Organisation of Petroleum Exporting Countries issued this forecast in its latest monthly report based on its […]

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MARKETS: High oil prices supported by slow supply growth, production loss, declining spare capacity

(EnergyAsia, March 29 2012, Thursday) — Despite weak global demand, oil prices are being supported at current high levels by below-expectations supply growth from non-OPEC countries, continuous production outages and declining spare inventory, said the International Energy Agency (IEA) said on Wednesday. The agency said oil supply from producers outside the Organisation of Petroleum Exporting […]

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CHINA: Gasoline, diesel prices at record high after 6-7% increases

(EnergyAsia, March 29 2012, Thursday) — Chinese motorists are paying record pump prices after the government allowed refiners and marketing companies to raise gasoline and diesel by six to seven percent last week. Following intense lobbying by the oil companies, the National Development and Reform Commission allowed gasoline and diesel prices to rise by 600 […]

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