MONGOLIA: Economy slowing down on account of high inflation and balance of payment pressure, says World Bank

(EnergyAsia, July 8 2014, Tuesday) — Mongolia’s economy will experience slower growth over the next three years as it struggles to adjust to persistently high inflation and balance of payment problems that began since the start of the decade, said the World Bank. Real GDP % 2011    2012     2013     2014f     2015f   ...

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MONGOLIA: Consortium working out details for new rail link to deliver coal to China

(EnergyAsia, July 7 2014, Monday) — Three months after agreeing to form a joint venture firm, a group of Mongolian companies and China’s Shenhua Energy are still working out the details for cross-border rail links to serve the coal trade between the two countries. In April, China’s leading coal miner formed a joint venture with...

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SINGAPORE: Anxiety sets in as Malaysia ramps up oil and gas storage ambitions

(EnergyAsia, July 4 2014, Friday) — Singapore’s oil trading and refining industry  has begun a steady decline as it confronts limits to growth imposed by land scarcity, rising business cost and safety concerns over congestion of the nation’s heavily used sea channels to handle oil, gas and other merchandise shipments. After more than 50 years...

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SINGAPORE: Afton Chemical starts building chemical additive plant on Jurong Island

(EnergyAsia, July 3 2014, Thursday) — US-based Afton Chemical Corporation has started construction of a new chemical additives manufacturing facility on Singapore’s Jurong Island. The plant is expected to start up in January 2016 to add to the Richmond, Virginia company’s global supply network of additives to meet growing demand in the Asia-Pacific and Middle (more…)

PHILIPPINES: Jetti Petroleum to start up new fuel storage terminal in Bataan in October

(EnergyAsia, July 3 2014, Thursday) — Philippines-based Jetti Petroleum Inc expects to start up its new fuel storage facility in Bataan province on Luzon Island in October. Construction of the one-billion-peso terminal to store gasoline, diesel, fuel oil and ethanol in Mariveles municipality to serve the province’s growing fuel demand is more than half completed....

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MARKETS: IEA keeps forecasts for 2014 global oil demand

(EnergyAsia, July 2 2014, Wednesday) — With the worsening conflicts in Iraq and Syria casting uncertainty over Middle East oil supplies, the International Energy Agency (IEA) has retained its latest forecast for 2014’s global oil demand to 92.76 million b/d. This implies a rise of about 1.45% over last year’s consumption of 91.43 million b/d...

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PAPUA NEW GUINEA: Puma Energy acquires InterOil’s downstream assets for US$525 million

(EnergyAsia, July 1 2014, Tuesday) — Puma Energy, one of the world’s largest independent midstream and downstream companies, has acquired InterOil Corp’s oil refining and fuels marketing businesses in Papua New Guinea for US$525.6 million, the two companies have announced. With the takeover of InterOil’s 28,000 b/d refinery in Port Moresby, a network of 52 (more…)

MARKETS: EIA returns to bullish mood with forecast for record global oil demand for 2014 and 2015

(EnergyAsia, July 1 2014, Tuesday) — Buoyed by an improved reading of the world economy, the Energy Information Administration (EIA) has returned to issuing bullish forecasts for global oil demand growth with its June report predicting record consumption over the next two years. The world will consume 91.79 million this year and 93.12 million b/d...

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