SAUDI ARABIA: Low spare capacity leaves world oil market at risk of price shocks, says research firm

(EnergyAsia, September 30 2015, Wednesday) — Amid the worst oil glut in over a decade, a Norwegian research firm wants the world to start worrying about possible oil price shocks. In its latest analysis of the global oil markets, Rystad Energy said the world’s spare production capacity, most of it sitting in Saudi Arabia, remains (more…)

MARKETS: Strong oil demand growth, supply cutbacks not enough to offset impact of record-high inventories, says IEA

(EnergyAsia, September 30 2015, Wednesday) — The oil markets will continue to pay for the past sins of overproduction as record-high inventories continue to offset the otherwise bullish impacts of strong demand growth and declining supply, judging from the latest International Energy Agency (IEA) monthly report. Crude prices sank further as Brent crude stayed submerged (more…)

BANGLADESH: Singapore’s Sembcorp awarded contract to develop 426MW power plant

(EnergyAsia, September 29 2015, Tuesday) — Singapore’s Sembcorp Industries said a subsidiary will lead a joint venture firm to build a 426MW plant in Bangladesh valued at US$390 million. The Bangladesh government awarded the build-own-operate contract to Sembcorp Utilities to develop the project in the Sirajganj district by 2018. To be fuelled primarily by natural (more…)

MARKETS: Low prices threaten long-term oil and gas investments

(EnergyAsia, September 29 2015, Tuesday) — The world will have to brace for sharply reduced oil and gas investments in the long term as the industry slashes capital expenditure in response to protracted low prices, according to separate analysis by a US government agency and two private firms. The Energy Information Administration (EIA) said sustained (more…)

SAUDI ARABIA: Why Riyadh is having such trouble with its Syria policy

(EnergyAsia, September 24 2015, Thursday) — Essay by Simon Mabon, Lecturer in International Relations, Lancaster University, UK, published from The violent civil war in Syria and rise of Islamic State (IS) has forced millions to flee their homes, cascading across Europe in search of safety. And yet, despite the crisis unfolding on its doorstep, (more…)

INDIA: Sembcorp Industries says 1,320MW coal-fired power plant in full operation

(EnergyAsia, September 16 2015, Wednesday) — Singapore’s Sembcorp Industries said subsidiary Thermal Powertech Corporation India (TPCIL) has begun fully operating its 1,320MW coal-fired power plant in Nellore in India’s Andhra Pradesh state. The company recently started up the second 660-megawatt unit of the US$1.5 billion plant in the coastal town of Krishnapatnam to follow through (more…)

MARKETS: Crude pushed back after brief late August recovery

(EnergyAsia, September 2 2015, Wednesday) — Crude oil prices ran out of steam as traders quickly cashed out on that brief 27% recovery over the last three days of August. North Sea Brent just about held onto US$50 a barrel while US WTI traded just above US$45 after both had sunk to their lowest levels (more…)

AUSTRALIA: Chevron may delay over-budget Gorgon LNG project start-up to 2016

(EnergyAsia, September 1 2015, Tuesday) — Having overshot its initial US$37 billion budget to build Australia’s largest liquefied natural gas (LNG) project, a Chevron-led consortium is also likely to miss its latest end-2015 start-up target for the same set of reasons: bad weather, labour disputes and equipment failure. The collapse in oil and gas prices (more…)