AUSTRALIA: Curtis Island’s three LNG plants in full flow

(EnergyAsia, November 24 2016, Thursday) — Curtis Island on Australia’s Queensland state has become the country’s main liquefied natural gas (LNG) hub with the full operation of six trains on its three export-oriented projects from last month. Costing a total of US$57 billion, the three have a combined nameplate capacity of 25.3 million tonnes, or...

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CANADA: LNG export plant to start up in 2020, says subsidiary of Singapore firm

(EnergyAsia, November 22 2016, Tuesday) — Canada will begin shipping liquefied natural gas (LNG) to Asia from its first dedicated export plant in 2020, according to Vancouver-based owner and operator Woodfibre LNG Limited. The Canadian firm announced its investment decision after receiving approval from parent Pacific Oil & Gas Limited, which is owned by the...

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AUSTRALIA: LNG export earnings to surge 41% in current fiscal year, forecasts Department of Industry and Science

(EnergyAsia, November 19 2016, Saturday) — Australia expects its earnings from liquefied natural gas (LNG) exports to surge by 41.1% to A$23.4 billion in the current fiscal year to June 30 2017, thanks to a combination of expanded plant capacity and higher prices. According to the Department of Industry and Science, Australia’s domestic LNG production...

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ASIA: LNG imports to remain strong through 2030

(EnergyAsia, November 13 2016, Sunday) — Asia’s ‘Big Four’ economies of China, Japan, India and South Korea will continue to dominate the region’s liquefied natural markets (LNG) over the next 15 years, according to a recent study by the Oxford Institute for Energy Studies (OIES). Asia’s Low and High LNG Import Scenarios, billion cubic metres...

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ASIA: Growth in crude oil demand to slow down through 2018, said ESAI

(EnergyAsia, October 26 2016, Wednesday) — Asia’s crude oil demand and refinery throughput will grow at a slower rate through 2018 from 2015 and 2016, predicts US consultant ESAI Energy. The Boston, Massachusetts firm expects the region’s crude demand and refinery throughput to rise by 400,000 b/d over the next two years, compared with 700,000...

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ASIA: Rising oil prices add to fears of further economic slowdown

            (EnergyAsia, October 26 2016, Wednesday) — Asia’s mostly energy-deficit economies are watching nervously as crude oil prices continue to defy bearish forecasts in recently reaching their highest levels in nearly a year. Brent crude traded above US$53 a barrel in early October, with the possibility of holding or rising further the rest of the...

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AUSTRALIA: Crude and condensate exports to fall, product imports to rise in FY2016, says Department of Industry

(EnergyAsia, October 21 2016, Friday) — Australia’s petroleum trade will remain a tale of two opposing trends for the rest of the current fiscal year ending June 30 2017: falling crude and condensate exports, and rising product imports. Crude and condensate exports will fall by 2.6% from 241,000 b/d in fiscal 2015 to 235,000 b/d...

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INDIA: Russia makes statement with Rosneft’s joint purchase of Essar Oil, sale of upstream stake to ONGC

(EnergyAsia, October 20 2016, Thursday) — The geopolitics of the international oil trade are about to be redrawn with a consortium led by Russia’s Rosneft PJSC making a proposed US$12.9 billion purchase of India’s privately-owned Essar Oil Ltd in the biggest corporate deal between the two countries. In acquiring Essar’s 20-million-tonne oil refinery and port...

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INDIA: UAE and Saudi Arabia courted as Iran supplies first cargo to Mangalore oil storage

(EnergyAsia, October 18 2016, Tuesday) — India expects Saudi Arabia and the UAE to join Iran in storing crude oil at its newly launched strategic stockpile terminal in Mangalore in Karnataka state. Petroleum minister Dharmendra Pradhan expressed his hope for an imminent deal with the two Arab oil producers at a media conference last week...

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KAZAKHSTAN: Giant oilfield starts up, exports first cargo

 (EnergyAsia, October 17 2016, Monday) — With a huge sigh of relief, the Kazakhstan government announced last week that the country’s much-delayed giant Kashagan oilfield has exported its first cargo after resuming production on October 12. Operator North Caspian Operating Co (NCOC) delivered the first cargo of 26,500 metric tons of Kashagan’s light 45-API gravity...

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ASIA: LNG market breaking down and undergoing reforms

(EnergyAsia, October 12 2016, Wednesday) — Asia’s liquefied natural gas (LNG) market is undergoing massive restructuring brought on by surplus production capacity, pricing competition, the rise of spot trading, slowing demand growth and geopolitical manoeuvring. And that’s good news for both the future of the industry and the region’s energy market as Asia’s LNG sector...

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CHINA: Buying for stockpile reserves could be supporting world oil prices

(EnergyAsia, October 7 2016, Friday) — China’s increased oil buying to stock up its strategic petroleum reserves may have kept crude prices from collapsing over the last eight months, said analysts. The oil markets have so far defied widespread doomsday predictions most notably made by Goldman Sachs and Morgan Stanley early this year that crude...

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MARKETS: Prices rebound on news of OPEC output cut, but for how long?

(EnergyAsia, October 4 2016, Tuesday) — Crude oil prices rebounded to their highest levels in nearly two months following the Organisation of Petroleum Exporting Countries (OPEC)’s surprise announcement on September 28 that its members would cut production. Brent crude surged more than US$4 a barrel over the next two days to end the month sitting...

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MALAYSIA: Petronas, Canadian government play “conditional” approval game to further delay proposed LNG project

(EnergyAsia, October 2 2016, Sunday) — The Canadian government and Malaysian state energy firm Petronas are playing a game of giving each other “conditional” approvals that will further delay the construction of a proposed liquefied natural gas (LNG) export terminal on the north-western coast of British Columbia province. Ottawa announced last week that it would...

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INDIA: Planned giant refinery to boost nation’s total capacity by more than 25%

(EnergyAsia, August 28 2016, Sunday) — Confident that crude prices will remain low for some time, India is pushing ahead to build another giant oil refinery that will boost the nation’s total annual capacity by more than a quarter to 290 million tonnes. The proposed 60-million-tonne complex in the central western state of Maharashtra is...

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INDIA: Natural gas demand outlook uncertain and weak despite lure of low prices

(EnergyAsia, August 21 2016, Sunday) — Having never really dawned on India, the “Golden Age” of natural gas as coined by the International Energy Agency (IEA), could yet bypass the world’s third largest energy consumer altogether. Home to some of the world’s most polluted cities, India recognises the urgency to increase the consumption of cleaner-burning...

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INDIA: Energy sector faces array of infrastructure, policy, climate and economic challenges

(EnergyAsia, August 18 2016, Thursday) — India faces a long and arduous battle to drastically reform its under-performing, heavily-shackled energy sector needed to support the long-term growth of its economy, said analysts. Without a reliable system to ensure the supply of affordable oil, gas, coal and electricity, India’s economy will not be able to attract...

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INDIA: Oil and gas sector now fully opened to foreign investment

(EnergyAsia, August 17 2016, Wednesday) — India has completely opened up its long-protected oil and gas sector to foreign investment, marking a major breakthrough in Prime Minister Narendra Modi’s campaign to reform the country’s under-performing economy. Announcing the policy shift in Parliament last week, Minister of State for Petroleum and Natural Gas Dharmendra Pradhan removed...

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INDIA: State firms keenly interested to buy into Russia’s Rosneft

(EnergyAsia, August 15 2016, Monday) — Indian state oil and gas firms are waiting for an opportunity to buy into Rosneft even as they are completing the purchase of a combined 38.9% stake in an East Siberian oil field from the Russian energy giant. India’s largest oil company ONGC is buying a 15% stake in...

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ANGOLA: IMF may return in October to resume talks over troubled economy

(EnergyAsia, July 20 2016, Wednesday) — The International Monetary Fund (IMF) said it may return to Angola in October to resume discussions after the financially-strapped government of President Jose Eduardo dos Santos rejected an offer of a loan bailout package. dos Santos told the fund his government did not want the proposed loan and was...

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IRAQ: IMF lends US$5.4 billion to help economy cope with oil and war shocks

(EnergyAsia, July 17 2016, Sunday) — The International Monetary Fund (IMF) said it is lending Iraq US$5.4-billion to help the war-torn country stave off economic collapse from the “double shocks” of the oil price collapse and on-going military conflicts. Iraq’s economy contracted by 2.4% last year despite a 13% rise in oil production as the...

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NIGERIA: Oil sector looks to China for US$80 billion worth of energy investments

(EnergyAsia, July 10 2016, Sunday) — Nigeria is hoping to revive the fortunes of its battered oil industry following last week’s memorandum of understating (MOU) to secure US$80 billion worth of energy investments from China. The proposed deals are far from certain amid the escalating threats from militia groups to Nigeria’s main oil-producing Niger Delta...

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UPSTREAM: Rystad Energy and BP clash over which country has world’s largest crude oil reserves

(EnergyAsia, July 5 2016, Tuesday) — Thanks to its shale revolution, the US now has the world’s largest recoverable crude oil reserves of 264 billion barrels, said Norwegian consulting firm Rystad Energy. The Oslo-based firm made the headline-grabbing conclusion in a statement that ranked Russia second with 256 billion barrels and Saudi Arabia a distant...

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SAUDI ARABIA: Aramco and Sabic to jointly study building US$30 billion oil-to-chemicals complex

(EnergyAsia, July 5 2016, Tuesday) — Two of Saudi Arabia’s largest state-owned companies said they have agreed to conduct a joint feasibility study to develop a fully integrated complex in the kingdom to convert crude oil into chemicals and high-end products. Petroleum giant Saudi Aramco and chemicals conglomerate Saudi Arabian Basic Industries Corp (Sabic) said...

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NIGERIA: Inflation set to accelerate with naira’s 43% plunge a week after currency float

(EnergyAsia, June 29 2016, Wednesday) — Nigeria is bracing for more domestic political turmoil from a projected surge in inflation with the 43% collapse of the naira following the government’s June 20 decision to float the currency. President Muhammadu Buhari buckled to months of pressure from the business community and the International Monetary Fund (IMF)...

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