(EnergyAsia, September 30 2015, Wednesday) — The oil markets will continue to pay for the past sins of overproduction as record-high inventories continue to offset the otherwise bullish impacts of strong demand growth and declining supply, judging from the latest International Energy Agency (IEA) monthly report.
(EnergyAsia, September 29 2015, Tuesday) — Singapore’s Sembcorp Industries said a subsidiary will lead a joint venture firm to build a 426MW plant in Bangladesh valued at US$390 million. The Bangladesh government awarded the build-own-operate contract to Sembcorp Utilities to develop the project in the Sirajganj district by 2018. To be fuelled primarily by natural…
(EnergyAsia, September 29 2015, Tuesday) — The world will have to brace for sharply reduced oil and gas investments in the long term as the industry slashes capital expenditure in response to protracted low prices, according to separate analysis by a US government agency and two private firms. The Energy Information Administration (EIA) said sustained…
(EnergyAsia, September 24 2015, Thursday) — Essay by Simon Mabon, Lecturer in International Relations, Lancaster University, UK, published from www.TheConversation.com. The violent civil war in Syria and rise of Islamic State (IS) has forced millions to flee their homes, cascading across Europe in search of safety. And yet, despite the crisis unfolding on its doorstep,…
(EnergyAsia, September 16 2015, Wednesday) — Singapore’s Sembcorp Industries said subsidiary Thermal Powertech Corporation India (TPCIL) has begun fully operating its 1,320MW coal-fired power plant in Nellore in India’s Andhra Pradesh state. The company recently started up the second 660-megawatt unit of the US$1.5 billion plant in the coastal town of Krishnapatnam to follow through…
(EnergyAsia, September 2 2015, Wednesday) — Crude oil prices ran out of steam as traders quickly cashed out on that brief 27% recovery over the last three days of August. North Sea Brent just about held onto US$50 a barrel while US WTI traded just above US$45 after both had sunk to their lowest levels in six-and half years last month.
(EnergyAsia, September 1 2015, Tuesday) — Having overshot its initial US$37 billion budget to build Australia’s largest liquefied natural gas (LNG) project, a Chevron-led consortium is also likely to miss its latest end-2015 start-up target for the same set of reasons: bad weather, labour disputes and equipment failure.
(EnergyAsia, August 31 2015, Monday) — The world will still face an oil supply glut even after adding nearly three million b/d to total consumption between last year and 2016, said the International Energy Agency (IEA).
(EnergyAsia, August 31 2015, Monday) — After years of strong growth, US oil and liquids production will decline in 2016 to weaken the world’s supply increase, said the US Energy Information Administration (EIA) in its August monthly report.
(EnergyAsia, August 29 2015, Saturday) — Oil producers outside the Organisation of Petroleum Exporting Countries (OPEC) will continue to raise supply over the next two years despite the pressure of falling prices, the cartel said in its latest monthly report.
(EnergyAsia, August 28 2015, Friday) — India wants to activate a shelved decade-old agreement to import liquefied natural gas (LNG) from Iran as the Islamic regime prepares to be freed of international trade sanctions following breakthrough talks with six world powers over its nuclear energy programme.
(EnergyAsia, August 27 2015, Thursday) — Refiners will face an unbalanced global products market as early as 2017 pitching a gasoline surplus with a deficit in middle distillates and fuel oil that could start undermining profitability, said UK consulting firm Wood Mackenzie.
(EnergyAsia, August 22 2015, Saturday) — Slowing energy demand from China and India has pushed Australian thermal coal prices to their lowest levels in over eight years.
(EnergyAsia, August 22 2015, Saturday) — Swiss trading giant Vitol Group will fully own a Malaysian oil storage terminal after completing the US$830 million purchase of its local partner’s 50% share later this year.
(EnergyAsia, August 21 2015, Friday) —Kept out of the international market by trade sanctions for years, Iranian oil could be flowing again a lot sooner than expected following Tehran’s July 14 breakthrough talks with six world powers over its nuclear energy programme. The six, known as the P5+1 group, include the five UN Security Council members comprising the US, China, Britain, Russia and France, plus Germany.
(EnergyAsia, August 19 2015, Wednesday) — China faces “financial vulnerabilities” and “challenges” as its economy adjusts to a new era of significantly slower growth, according to recent separate reports by the World Bank and the International Monetary Fund (IMF).
(EnergyAsia, August 18 2015, Tuesday) — After announcing a 47.3% plunge in second quarter profit, the CEO and president of Malaysia’s state-owned energy firm Petronas said he expects the company to tap into cash reserves this year to help pay for on-going operations, capital investments and mandated dividends to the government.
(August 16 2015, Sunday) — More than 1.2 billion people living in China’s 293 prefecture-level cities will benefit from clean air if the country imposes strict air pollution and environmental protection policies that reduces coal dependence or the mix of cleaner coal.
(EnergyAsia, August 14 2015, Friday) — China’s coal consumption will continue to grow through 2030 despite the government’s efforts to cap the country’s carbon emissions and boost the role of renewables in the energy mix, said the International Energy Agency (IEA).
(EnergyAsia, August 13 2015, Thursday) — China will work with other countries to complement domestic measures to reduce its greenhouse gas output in the fight against global warming, according to a Chinese professor writing for the Institute for Energy Economics, Japan (IEEJ).
(EnergyAsia, August 12 2015, Wednesday) — Despite growing calls to reduce the world’s greenhouse gas emissions, China, India and many developing countries are increasing their consumption of the most polluting fossil fuel — coal, according to a new study undertaken by three scientists at the Berlin-based Mercator Research Institute on Global Commons and Climate Change (MCC).
(EnergyAsia, August 11 2015, Tuesday) — China’s slowing energy demand is further draining the financial life out of Australia’s thermal coal miners and services companies at a time when they are struggling with low commodity prices, said US ratings agency Moody’s. China’s thermal coal demand is declining amid the country’s slowing industrial production and push…
(EnergyAsia, August 10 2015, Monday) — Boosted by a banking deal with the International Monetary Fund (IMF) last week, the newly appointed chairman of Libya’s National Oil Company (NOC) said he plans to lift the force majeure on the country’s Ras Lanuf and As Sidra oil terminals, according to a briefing note from MAST Security….
(EnergyAsia, August 9 2015, Sunday) — Japan’s second largest downstream oil company Idemitsu Kosan has agreed to buy over the bulk of Shell’s 35% stake in the Tokyo-listed refiner Showa Shell Sekiyu for about 169 billion yen. (US$1=124 yen).
(EnergyAsia, August 8 2015, Saturday) — Reflecting the growing strength of the US economy, its refiners have been operating at a record throughput of over 17 million b/d since mid-July, said the Energy Information Administration (EIA). The rolling four-week average of US gross refinery inputs has been above the five-year range every week so far…