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MARKETS: Wood Mackenzie on the outlook for oil in the coming weeks

(EnergyAsia, July 13 2015, Monday) — Crude oil prices are starting the second half of 2015 on the defensive as Greece’s economic crisis, China’s US$3.3-trillion stock market plunge and the West’s likely lifting of trade sanctions against Iran dominate the headlines. The oil markets are hovering at a three-month low with Brent ending last week […]

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MARKETS: Refiners failed to unleash “wave” of new oil products supply, says consultant

(EnergyAsia, June 22 2015, Monday) — Led by Saudi Arabia in the Middle East and Brazil in Latin America, refiners failed to unleash a much-anticipated new “wave” of petroleum products to meet rising global demand, said a US energy consultant. In the first quarter of 2015 when global oil products demand roared to life, ESAI […]

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DUBAI: ENOC secures US$1.5b syndicated loan facility following successful £3.7b bid for Dragon Oil

(EnergyAsia, June 18 2015, Thursday) — Following its £3.7b successful bid for oil producer Dragon Oil, Dubai’s state-owned Emirates National Oil Company (ENOC) said it has secured a US$1.5 billion term debt facility from a syndicate of local, regional and international banks. The nine-year facility denominated in US dollars and UAE dirhams was fully underwritten […]

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NEW ZEALAND: Chevron to complete exit with sale to Z Energy for NZ$785 million

(EnergyAsia, June 11 2015, Wednesday) — Weeks after divesting its stake in New Zealand’s only refinery, US major Chevron said it is selling its retail and lubricants operations to local company Z Energy for a total of NZ$785 million. (US$1=NZ$1.40). Chevron will sell 150 Caltex service stations together with 70 truck fuelling stations and the […]

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CHINA: Saudi Aramco’s 10th global R&D centre opens in Beijing

(EnergyAsia, May 26 2015, Tuesday) — Saudi Arabia’s state-owned energy firm Aramco has opened an energy research centre in Beijing to help drive its innovation and technology development programme in China. Saudi petroleum minister Ali I. Al-Naimi officially opened the 4,400-square metre Beijing Research Center (BRC), the 10th in the company’s global research and development […]

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AUSTRALIA: Accenture says LNG industry faces barriers to delivering A$55 billion worth of benefits

(EnergyAsia, May 18 2015, Monday) — Having done the hard part of attracting A$250 billion worth of liquefied natural gas (LNG) investments, Australia may yet miss out on A$55 billion worth of benefits when the new plants start up over the next few years, said consulting firm Accenture. (US$1=A$1.3). In a new report, the consulting […]

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CHINA: Silk route will open up “new commodity superhighway” but faces enormous risks, says Wood Mackenzie

(EnergyAsia, April 28 2015, Tuesday) — China faces a long list of risks in its strategy to develop the old Silk Route and a new maritime channel to connect Asia with the Middle East, Africa and Europe, said consultant Wood Mackenzie. Beijing’s ‘One Route One Belt’ strategy holds the promise of creating a new “commodity […]

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