ASIA: China leads region in power grid modernisation and efficiency improvement plans, says GlobalData

(EnergyAsia, May 8 2014, Thursday) — Led by China, Asia is investing heavily to modernise its power grid while deploying smart grid technology and improving the efficiency of power distribution systems across the region, according to a new report by consultant GlobalData. The region’s economies have bounced back strongly from the global recession of 2007-08,…

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ASIA: Singapore, Malaysia firms lead race to build Canada’s first LNG-export project

(EnergyAsia, May 6 2014, Tuesday) — British Columbia Premier Christy Clark’s first visit to Singapore and Malaysia this week has come with the belated realisation that perhaps these two countries, and not the coveted giant markets of China, Japan, India and South Korea, hold the key to the Canadian province’s C$1-trillion dream to develop and…

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MARKETS: IEA raised forecasts for 2013 and 2014 global oil demand

(EnergyAsia, May 5 2014, Monday) — Like OPEC, the International Energy Agency (IEA) has raised its latest forecast for 2014’s global oil demand from the previous month. In its April report, the Paris-based agency said it expects the world to consume 92.69 million b/d, slightly higher from its March forecast of 92.68 million b/d. But…

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MARKETS: Despite weaker global economic outlook, OPEC raised forecast for 2014 global oil demand

(EnergyAsia, May 5 2014, Monday) — The Organisation of Petroleum Exporting Countries (OPEC) has slightly raised its April forecast for this year’s global oil demand from the previous month despite lowering its expectations for world economic growth. The cartel expects the world to consume 91.15 million b/d of oil in 2014, up by 1.27% from…

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AUSTRALIA: Caltex opens new storage terminal to meet fuel supply in South Australia state

(EnergyAsia, May 2 2014, Friday) — Caltex said it has raised South Australia state’s fuel storage capacity by 50% with the start-up of an 85-million-litre terminal at Pelican Point in Adelaide. There are plans to add 135 million litres of new capacity at a later date. The A$100 million terminal is designed to accommodate ships…

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CHINA: Experts disagree on Q1 oil demand growth data amid conflicting reading of energy industry reforms

(EnergyAsia, May 2 2014, Friday) — China’s year-on-year oil demand growth fell by 0.6% in the first quarter, says energy media Platts, but Deutsche Bank estimates it surged by 5.2%. The contrasting view underlines the market’s difficulty with reading the current state of China’s energy sector amid conflicting signals over the government’s plans to clean…

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