Archive | March, 2013

CHINA: Wison Engineering completes six projects for PetroChina’s integrated refinery and petrochemical complex in Sichuan

(EnergyAsia, March 28 2013, Thursday) — China’s Wison Engineering Services Co Ltd said subsidiary Wison Engineering Ltd has safely and successfully completed scheduled work on six projects at PetroChina’s integrated refinery and petrochemical complex in Sichuan province. China’s largest privately owned chemical engineering procurement and construction (EPC) contractor said it built the project’s integrated paraxylene-aromatic […]

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MARKETS: Global crude oil flows to shift from west to east by over four million b/d by 2020, says ESAI

(EnergyAsia, March 28 2013, Thursday) — North America’s rising oil production and Asia’s growing energy demand will lead to a drastic shift in the direction of the world’s oil flows through 2020, said US consultant ESAI Energy. The Boston-based consultant predicts that by the end of the decade, crude oil flows west of Suez will […]

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US: Gains in hydrocracker refining capacity will flood diesel market, says ESAI

(EnergyAsia, March 27 2013, Wednesday) — A significant expansion in US Gulf Coast hydrocracking capacity will increase diesel output to easily meet Latin America’s diesel import requirement in 2013, predicts US-based consulting firm ESAI. In its recently published Global Refining Outlook, ESAI is forecasting a more than 100,000 b/d rise in US Gulf Coast diesel […]

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IRAQ: Amid the gloom, IMF says economy to grow 9%, and oil production to rise 10% this year

(EnergyAsia, March 27 2013, Wednesday) — Ten years after the US-led military invasion to oust former dictator Saddam Hussein, war-battered Iraq is expected to enjoy rapid oil production and economic growth, and slower inflation in 2013. In a statement last week, the International Monetary Fund (IMF) predicted Iraq’s oil production would surge 10% to 3.3 […]

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CHINA: Wison Offshore & Marine to provide services for two European firms developing LNG projects in North America

(EnergyAsia, March 27 2013, Wednesday) — A subsidiary of China’s Wison Group has agreed to provide support services to two European firms developing export-oriented liquefied natural gas (LNG) projects in North America. EDF Trading and Exmar NV are looking to export LNG by using offshore barge-mounted natural gas liquefaction facilities that have been jointly developed […]

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MARKETS: EIA said world drew down oil stockpile in first two months of 2013 as demand exceeded supply

(EnergyAsia, March 26 2013, Tuesday) — The US Energy Information Administration (EIA) said global liquid fuels consumption exceeded production in the first two months of 2013, resulting in a 1.1‐million b/d average draw in global oil stocks Despite the gloom surrounding the European and Japanese economies, the agency has kept its forecasts for record world […]

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SINGAPORE: Halliburton opens new completion technology and manufacturing centre

(EnergyAsia, March 25 2013, Monday) — Upstream equipment and services company Halliburton said it has opened a newly constructed completion technology and manufacturing centre in Singapore. Completion Tools, a product service line in the company’s Completion and Production division, enables customers to economically and efficiently complete their wells by providing the design, selection and provision […]

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SHIPPING: Drewry Maritime expects LNG freight to stay weak through 2015, recover in the second half of decade

(EnergyAsia, March 25 2013, Monday) — After the “dream run” of 2011 and 2012, shipping demand for liquefied natural gas (LNG) could be headed for the doldrums through 2015, predicts Drewry Maritime Research. In its latest LNG Insight report, the UK-based firm said its LNG Freight Index fell four percent in February as a result […]

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INDIA: BG Group secures long-term contract to supply LNG to Gujarat State Petroleum Corp

(EnergyAsia, March 22 2013, Friday) — UK’s BG Group Plc said it has secured a 20-year agreement to supply liquefied natural gas (LNG) to India’s Gujarat State Petroleum Corp (GSPC) from 2015. The Reading-based company said it will initially supply 1.25 million tons a year in 2015, potentially doubling the volume after two years. The […]

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AUSTRALIA: BREE sees LNG exports rising more than five times to A$61 billion by 2017

(EnergyAsia, March 22 2013, Friday) — Liquefied natural gas (LNG) will become Australia’s second-largest export earner after iron ore, rising more than five times from A$12 billion in 2011 to over A$61 billion by 2017, said the Bureau for Resources and Energy Economics (BREE). (US$1=A$0.96). The start-up of several LNG projects in coming years will […]

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