Author Archive | EnergyAsia

MARKETS: IEA dampens expectations for major oil price rise as supply growth slows from mid-2015

(EnergyAsia, February 26 2015, Thursday) — Forget about oil prices overshooting to the upside and making a strong recovery even as the growth in global oil supply slows sharply from mid-year, predicts the International Energy Agency (IEA). With the drastically changed market conditions, the agency said it expects the crude oil price to average US$55 […]

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OMAN: UK’s Amec Foster Wheeler starts work on design of Ras Markaz crude oil storage tank farm

(EnergyAsia, February 24 2015, Tuesday) — UK’s Amec Foster Wheeler has started work on the front-end engineering design of the Ras Markaz crude oil storage tank farm in Oman following the contract’s award by state-owned Oman Tank Terminal Company (OTTCO) last month. The London-based firm declined to reveal the contract’s value for the project which […]

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INDIA: Ambitious coal reforms likely doomed by weak market conditions, opposition from green, business and labour groups

(EnergyAsia, February 19 2015, Thursday) — The spirit may be willing but weak market conditions and strong growing opposition from environmental, business and labour groups are combining to block India’s pent-up desire to heal its sickly coal industry.   This complete article is available to Members Only […]  

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CHINA: Energy demand has decoupled significantly from GDP, says Wood Mackenzie economist

(EnergyAsia, February 17 2015, Tuesday) — Breaking from a two-decade trend, China’s demand for energy and other natural resources grew at a significantly slower rate than the 7.4% increase in its GDP last year, said UK consultant Wood Mackenzie. Calling this a “decoupling”, its principal economist for Asia, Cynthia Lim, said the energy sector will […]

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PAPUA NEW GUINEA: ExxonMobil, InterOil make case for LNG investments as economy set to become world’s fastest-growing

(EnergyAsia, February 16 2015, Monday) — While the oil and gas industry is in retreat around the world, Papua New Guinea is blazing ahead with the planned expansion of a liquefied natural gas (LNG) project that was launched just months ago and the proposed development of a second greenfield project.   This complete article is […]

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