(EnergyAsia, August 31 2015, Monday) — The world will still face an oil supply glut even after adding nearly three million b/d to total consumption between last year and 2016, said the International Energy Agency (IEA).
(EnergyAsia, August 31 2015, Monday) — After years of strong growth, US oil and liquids production will decline in 2016 to weaken the world’s supply increase, said the US Energy Information Administration (EIA) in its August monthly report.
(EnergyAsia, August 29 2015, Saturday) — Oil producers outside the Organisation of Petroleum Exporting Countries (OPEC) will continue to raise supply over the next two years despite the pressure of falling prices, the cartel said in its latest monthly report.
(EnergyAsia, August 28 2015, Friday) — India wants to activate a shelved decade-old agreement to import liquefied natural gas (LNG) from Iran as the Islamic regime prepares to be freed of international trade sanctions following breakthrough talks with six world powers over its nuclear energy programme.
(EnergyAsia, August 27 2015, Thursday) — Refiners will face an unbalanced global products market as early as 2017 pitching a gasoline surplus with a deficit in middle distillates and fuel oil that could start undermining profitability, said UK consulting firm Wood Mackenzie.
(EnergyAsia, August 22 2015, Saturday) — Slowing energy demand from China and India has pushed Australian thermal coal prices to their lowest levels in over eight years.
(EnergyAsia, August 22 2015, Saturday) — Swiss trading giant Vitol Group will fully own a Malaysian oil storage terminal after completing the US$830 million purchase of its local partner’s 50% share later this year.
(EnergyAsia, August 21 2015, Friday) —Kept out of the international market by trade sanctions for years, Iranian oil could be flowing again a lot sooner than expected following Tehran’s July 14 breakthrough talks with six world powers over its nuclear energy programme. The six, known as the P5+1 group, include the five UN Security Council members comprising the US, China, Britain, Russia and France, plus Germany.
(EnergyAsia, August 19 2015, Wednesday) — China faces “financial vulnerabilities” and “challenges” as its economy adjusts to a new era of significantly slower growth, according to recent separate reports by the World Bank and the International Monetary Fund (IMF).
(EnergyAsia, August 18 2015, Tuesday) — After announcing a 47.3% plunge in second quarter profit, the CEO and president of Malaysia’s state-owned energy firm Petronas said he expects the company to tap into cash reserves this year to help pay for on-going operations, capital investments and mandated dividends to the government.
(August 16 2015, Sunday) — More than 1.2 billion people living in China’s 293 prefecture-level cities will benefit from clean air if the country imposes strict air pollution and environmental protection policies that reduces coal dependence or the mix of cleaner coal.
(EnergyAsia, August 14 2015, Friday) — China’s coal consumption will continue to grow through 2030 despite the government’s efforts to cap the country’s carbon emissions and boost the role of renewables in the energy mix, said the International Energy Agency (IEA).
(EnergyAsia, August 13 2015, Thursday) — China will work with other countries to complement domestic measures to reduce its greenhouse gas output in the fight against global warming, according to a Chinese professor writing for the Institute for Energy Economics, Japan (IEEJ).
(EnergyAsia, August 12 2015, Wednesday) — Despite growing calls to reduce the world’s greenhouse gas emissions, China, India and many developing countries are increasing their consumption of the most polluting fossil fuel — coal, according to a new study undertaken by three scientists at the Berlin-based Mercator Research Institute on Global Commons and Climate Change (MCC).
(EnergyAsia, August 11 2015, Tuesday) — China’s slowing energy demand is further draining the financial life out of Australia’s thermal coal miners and services companies at a time when they are struggling with low commodity prices, said US ratings agency Moody’s. China’s thermal coal demand is declining amid the country’s slowing industrial production and push…
(EnergyAsia, August 10 2015, Monday) — Boosted by a banking deal with the International Monetary Fund (IMF) last week, the newly appointed chairman of Libya’s National Oil Company (NOC) said he plans to lift the force majeure on the country’s Ras Lanuf and As Sidra oil terminals, according to a briefing note from MAST Security….
(EnergyAsia, August 9 2015, Sunday) — Japan’s second largest downstream oil company Idemitsu Kosan has agreed to buy over the bulk of Shell’s 35% stake in the Tokyo-listed refiner Showa Shell Sekiyu for about 169 billion yen. (US$1=124 yen).
(EnergyAsia, August 8 2015, Saturday) — Reflecting the growing strength of the US economy, its refiners have been operating at a record throughput of over 17 million b/d since mid-July, said the Energy Information Administration (EIA). The rolling four-week average of US gross refinery inputs has been above the five-year range every week so far…
(EnergyAsia, August 8 2015, Saturday) — Turkmengaz, Turkmenistan’s state-owned gas company, has been chosen to lead an international consortium to build, finance, own and operate a proposed 1,600-km to deliver natural gas from Central Asia to South Asia. The Asian Development Bank (ADB) will continue to advise as well as help finance the US$7.6-billion pipeline to link up Turkmenistan, Afghanistan, Pakistan and India (TAPI) with possible extensions to other countries in Asia.