MARKETS: Oil prices recovered in 2017 on strong demand growth, declining inventories, says EIA

(EnergyAsia, December 23, 2017, Saturday) — Without much fanfare, the oil markets have recovered strongly over the past year, with Brent crude rising by nearly a quarter or US$10 a barrel, said the US Energy Information Administration (EIA). After crashing to a 12-year low of $43.74 a barrel in 2016, Brent is expected to average...

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ASIA: India to continue as region’s energy demand and economic growth leader, says World Bank

(EnergyAsia, December 21, 2017, Thursday) — India will continue to outpace China and remain as Asia’s fastest growing major economy and energy consumer, according to the World Bank. Citing the work of analysts, the bank said it expects India to be the world’s fastest-growing economy over the 2015-to-2040 period. In its latest report on the...

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AUSTRALIA: Natural gas revival underway, boosting investor confidence, says industry veteran

(EnergyAsia, December 16 2017, Saturday) — Australia’s natural gas industry is heading into 2018 in “confident new mood” as it continues to recover from a three-year slump, said energy veteran Graeme Bethune. Oil production, however, is expected to continue to slide after slumping to a 40-year low in 2017 In his latest research report, the...

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COMPANY: Aramco Trading opens office in Singapore

 (EnergyAsia, December 9 2017, Saturday) — Saudi Arabia’s state-owned firm, Aramco, said it has started up its international trading subsidiary in Singapore to serve Asia’s growing oil markets. Saudi Aramco Trading Singapore (SATS) will also provide trading and marketing services for its parent firm’s expanding refining and petrochemical output. Citing consulting firm Wood Mackenzie, Saudi...

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MARKETS: Asia to drive global diesel shortfall in 2018, says US energy consultant

(EnergyAsia, December 4, 2017, Monday) — Due largely to reduced production and rising consumption in Asia, the world’s diesel supply will fall short of demand growth next year, said US consultant ESAI Energy Inc. In its latest report on the global diesel market, ESAI said it expects refiners in three of Asia’s main exporters –...

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