Author Archive | EnergyAsia

MARKETS: EIA expects oil prices to remain under pressure after slashing global oil demand, raising supply outlook for 2015

(EnergyAsia, November 28 2014, Friday) — The US Energy Information Administration (EIA) expects oil prices to remain under selling pressure after slashing its latest forecast for 2015 global demand while raising the supply outlook. In its November report, the agency said it expects Brent crude oil spot prices to average US$83 per barrel in 2015, […]

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MARKETS: IHS, Bloomberg expect bulk of US shale-based production to remain profitable with WTI at US70-$75 a barrel

(EnergyAsia, November 28 2014, Friday) — After plunging by a third since peaking in June to their lowest levels in four-and-half years, crude oil prices still have room to fall, going by the conclusions of two recent studies pointing to the resilience of US unconventional oil in a bear market.   This complete article is […]

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ASIA: LNG market remain weak, hardening buyers’ resolve in fight to change oil-linked pricing formula

(EnergyAsia, November 27 2014, Thursday) — With liquefied natural gas (LNG) supply growth outpacing demand, Asian buyers have the upper hand for now although a blast of cold from unpredictable weather conditions could easily spike prices, said consultant Wood Mackenzie. Riding the downtrend, according to the International Energy Agency (IEA), Asian buyers are digging in […]

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MARKETS: OPEC retains global economic and oil outlook as prices stay weak

(EnergyAsia, November 26 2014, Wednesday) — The weakest oil market in four years is having no impact on the Organisation of Petroleum Exporting Countries’ (OPEC) views on the world economy and oil supply-demand balances. For the fourth consecutive month, OPEC has kept unchanged its forecasts for the world economy to grow by 3.2% this year […]

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SINGAPORE: With oil storage “bursting at the seams”, industry seeks expansion and bigger role for neighbouring countries

(EnergyAsia, November 25 2014, Tuesday) — Singapore’s stretched infrastructure is forcing Asia’s oil traders to tweak a winning formula of over two decades to accommodate a bigger storage and pricing role for neighbouring Malaysia and Indonesia, said the International Energy Agency (IEA) and energy media Platts.   This complete article is available to Members Only […]

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SINGAPORE: SGX to launch petrochemical swaps and futures derivatives contracts next month

(EnergyAsia, November 21 2014, Friday) — Singapore Exchange (SGX) said it will begin offering petrochemical swaps and futures contracts from December 2 in response growing demand from industry players to hedge their trading positions. The exchange said it will introduce a set of five petrochemical derivatives tools in two phases, starting with the SGX Platts […]

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SINGAPORE: Pavilion Energy calls for joint effort with Malaysia to develop Asian LNG trading and pricing hub

(EnergyAsia, November 20 2014, Thursday) — Singapore and Malaysia should cooperate to jointly create a location and pricing service to serve the fast-growing liquefied natural gas trade (LNG) in Asia, said the CEO of Singapore’s state-owned Pavilion Energy Pte Ltd. Seah Moon Ming said Asia urgently needs transparent LNG pricing and price discovery that are […]

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