(EnergyAsia, February 29 2016, Monday) — Australian upstream company Santos said it wrote off a further A$3.924 billion worth of assets after reporting a record loss of A$2.9 billion last year as oil and gas prices continued their rapid descent from mid-2014. (US$1=A$1.4). The tide of red ink flowed through from 2014 when the company reported a loss of A$935 million and was hit with a A$2.4 billion write-off.
(EnergyAsia, February 22 2016, Monday) — Despite being recently freed of most sanctions to trade with the world, Iran will be hard pressed to produce more than 500,000 b/d of crude oil this year owing to a combination of “technical and political hurdles”, said Moody’s Investor Service.
(EnergyAsia, February 18 2016, Thursday) — Five of China’s leading state-owned oil firms and some of their subsidiaries have been placed on review by Moody’s Investor Service for a possible downgrade of their current Aa3 credit ratings.
(EnergyAsia, February 16 2016, Tuesday) — Concluding their largest bilateral trade deal, Qatar will soon begin an annual supply of 3.75 million tons of liquefied natural gas (LNG) to Pakistan over the next 15 years. State-owned Qatar Liquefied Gas Company or Qatargas, the world’s largest LNG firm with 42-million tons of production capacity, expects to…
(EnergyAsia, February 13 2016, Saturday) — Led by Japan, Asia’s use of an established crude oil-based formula to price its liquefied natural gas (LNG) imports will likely continue into the next decade, according to one of the region’s leading energy economists.
(EnergyAsia, February 12 2016, Friday) — For all its illustrious history as Asia’s oil centre, Singapore is still missing a vital piece in its quest to become a full-fledged energy trading hub: a successful futures exchange to support price discovery and regional paper trades.
(EnergyAsia, Singapore, February 2 2016, Tuesday) – Swiss chemical logistics firm Bertschi AG will invest another S$20 million in a dangerous goods warehouse to add to its newly opened S$45 million plant on Singapore’s oil and chemicals hub on Jurong Island. (US$1=S$1.42). Hans-Jörg Bertschi, President and CEO of Bertschi Holding AG, made the announcement for…
(EnergyAsia, February 1 2016, Monday) — Japan’s ailing energy-intensive economy continues to struggle for life despite the infusion of an unexpected windfall from prolonged weak oil and gas prices since mid-2014.