Author Archive | EnergyAsia

US: Oil reserves at highest level since 1972, natural gas reserves at record, says EIA

(EnergyAsia, November 24 2015, Tuesday) — Thanks to the adoption of fracking technology, the US boosted its oil reserves to a 42-year high of 39 billion barrels and natural gas to an all-time high of 388.8 trillion cubic feet (11 trillion cubic metres) at the end of 2014. But, the Energy Information Administration (EIA) said […]

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IRAQ: Basra to set up regional company to attract international oil, gas and infrastructure investment

(EnergyAsia, November 13 2015, Friday) — Iraq’s hydrocarbon-rich Basra province is establishing a regional company to attract foreign direct investment to build up its oil, gas and infrastructure for the long-term development of the economy. “Basra Company is the vehicle through which the provincial government will optimise utilisation of resources and position Basra as the […]

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MARKETS: IEA fears low oil and gas prices inducing “complacency” over energy security issues

(EnergyAsia, November 12 2015, Thursday) — The world is at risk of becoming complacent to energy security threats with an expected prolonged period of low oil and gas prices looming ahead, said the International Energy Agency (IEA). While consumers stand to benefit, the market is increasingly at risk from both a growing reliance on a […]

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SAUDI ARABIA: Vopak joint venture to provide liquid product storage services in Jubail

(EnergyAsia, November 3 2015, Tuesday) — Jubail Chemicals Storage and Services Company (JCSSC), a company 25% owned by Royal Vopak of the Netherlands, has signed two agreements to provide liquid product storage and handling services at the King Fahd Industrial Port (KFIP) in Jubail in Saudi Arabia’s Eastern Province. JCSSC, 75% owned by Saudi Basic […]

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CENTRAL ASIA: World Bank expects region’s economies to face “strong headwinds” on new challenges from weak oil, Russia

(EnergyAsia, October 31, 2015, Saturday) — Still reeling from the effects of the global financial crisis of 2008, the World Bank said Central Asia is facing “strong headwinds” from a set of new challenges brought on by the continuing weakness in oil and gas prices, Russia’s recession and worsening relations with the West, the slowdown […]

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