US: Group of companies files application with Department of Energy to export LNG from proposed Alaska project

(EnergyAsia, July 22 2014, Tuesday) — A group comprising an Alaska firm and four major companies have filed an application with the US Department of Energy to export liquefied natural gas (LNG) from a proposed project from a greenfield site in Nikiski near the port of Achorage. The application seeks authorisation for the annual export […]

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SAUDI ARABIA: Non-oil activities to contribute to economy’s projected 4.6% growth this year, says IMF

(EnergyAsia, July 22 2014, Tuesday) — Thanks to its expanding non-oil sector, Saudi Arabia’s economic growth will accelerate to 4.6% in 2014 to build on last year’s 4% increase, said the International Monetary Fund (IMF). Saudi Arabia’s economic growth, % 2010    2011    2012    2013    2014 (projected) Real GDP                 7.4       8.6       5.8       […]

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MONGOLIA: Economic outlook fading on falling investor interest as resource curse takes hold

(EnergyAsia, July 21 2014, Monday) — As its resources-dependent economy began to take off at the start of the decade, Mongolia was repeatedly warned to guard against the “resource curse” associated with corruption, waste, internal power struggle, runaway inflation and political instability that has befallen many developing economies. But, Mongolian leaders paid little heed as […]

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IRAQ: EIA slashed oil production forecast by 600,000 b/d on political unrest

(EnergyAsia, July 18 2014, Friday) — Citing Iraq’s worsening violence, the US Energy Information Administration (EIA) said it has slashed its forecast for the country’s crude oil production by 600,000 b/d to between 3.1 million b/d and 3.2 million b/d from now through end-2015. The escalation of violence in northern Iraq that started in June […]

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SRI LANKA: ADB lends US$300 million of US$440-million programme to boost renewable energy use in place of fuel oil

(EnergyAsia, July 17 2014, Thursday) — The Asian Development Bank (ADB) said it has approved a US$300 million dual-tranche loan to help Sri Lanka scale up its use of clean energy and cut its reliance on costly fuel oil for electricity generation by 2020. The bank’s first US$150 million tranche will help pay for a […]

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SINGAPORE: Ezra to create one of region’s largest offshore services providers with consolidation of two related firms

(EnergyAsia, July 16 2014, Wednesday) — Singapore’s Ezra Holdings Limited said it is aiming to create one of Asia’s largest offshore services providers by merging an offshore division with an associated firm to own and operate a vessel fleet worth more than US$1 billion. The enlarged EOC Group will comprise EMAS Marine, Ezra’s offshore support […]

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IRAQ: Baghdad bleeding cash as Kurds take over oilfields, Islamic State profits from oil sales

(EnergyAsia, July 15 2014, Tuesday) — Iraq is losing hundreds of millions of dollars in revenue as warring factions led by ethnic Kurds and Sunni revolutionaries cash in on sales of crude and oil products seized from producing fields and refineries previously controlled by Baghdad. Last week, Kurdish troops took over two oilfields in northern […]

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SRI LANKA: President opened new fuel storage facilities to serve sea and airports in Hambantota

(EnergyAsia, July 14 2014, Monday) — Sri Lanka’s President Mahinda Rajapaksa officially started up two of the country’s most modern fuel storage facilities in the emerging trade hub of Hambantota city last month. Mattala International Airport’s US$40 million terminal stores up to three million litres of jet fuel to serve the growing air traffic through […]

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