INDIA: Gathering of energy leaders underline country’s growing importance

(EnergyAsia, October 20 2017, Friday) — India’s growing importance to the global energy markets was underlined by the attendance of senior officials of international firms and organisations including Saudi Aramco’s president and CEO Amin H. Nasser at an energy forum in New Delhi last week. CERA’S Indian Energy Forum was also attended by senior executives from...

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JAPAN: Saudi Aramco confirmed to increase crude oil storage on Okinawa from 2017

(EnergyAsia, October 11 2016, Tuesday) — Saudi Arabia’s state-owned oil giant Aramco will increase the amount of crude oil it currently stores on Japan’s Okinawa Island from 6.3 million barrels to around 8.3 million barrels from next year. The new three-year agreement with Japan Oil, Gas and Metals National Corporation (JOGMEC) will enhance energy security (more…)

ASIA: Region’s economic outlook remains resilient despite tough environment, says ADB

(EnergyAsia, September 30 2016, Friday) — Asia’s developing economies remain on course for another two years of strong growth despite the headwinds of tough global conditions, predicts the Asian Development Bank (ADB). In its latest survey of the region, the bank said it expects the 45 developing economies to grow by a collective 5.7% in (more…)

ASIA: Oil and gas import dependence to rise as refiners missed chance to add capacity, says Bain

(EnergyAsia, September 22 2016, Thursday) – Asia’s import dependence on oil and gas products is set to rise further as the region’s refiners have largely failed to add or upgrade production capacity to take advantage of low feedstock cost over the last two years, said Bain & Company. As a result, the consulting firm predicts (more…)

MIDDLE EAST: Region’s market for protecting oil and gas industry worth US$13 billion by 2018

(EnergyAsia, September 19 2016, Monday) — The market for protecting oil and gas infrastructure in the Middle East is worth US$18 billion by 2018, with cybersecurity spending in the global industry expected to reach US$1.87 billion, according to an Abu Dhabi event organiser citing separate studies. The Middle East study was undertaken by MarketsandMarkets while (more…)

CHINA: Russian nuclear energy firm Rosatom opens regional office in Beijing

(EnergyAsia, April 19 2016, Tuesday) — Russian nuclear energy provider Rosatom has announced the opening of a regional office in Beijing to serve the Chinese market. Rosatom said the new office will enhance its collaboration with Chinese firms as well as develop opportunities for international expansion. The company has similar regional representative offices in Latin (more…)

ASIA: Turkmenistan, Afghanistan, Pakistan and India sign investment agreement to build gas pipeline

(EnergyAsia, April 19 2016, Tuesday) — Officials of Turkmenistan, Afghanistan, Pakistan and India, and the Asian Development Bank (ADB) have signed an investment agreement for the construction of a proposed US$10-billlion pipeline to deliver natural gas from Central to South Asia. The agreement will pave the way for the TAPI Pipeline Company Limited (TPCL), owned (more…)

SOUTH KOREA: GE and LSIS to collaborate in developing and implementing smart energy solutions

(EnergyAsia, April 18 2016, Monday— US industrial giant GE and South Korea’s LSIS said they have agreed to undertake “comprehensive cooperation” in developing and implementing smart energy solutions. The companies have signed a memorandum of understanding (MoU) to collaborate extensively on manufacturing innovation, as well as on smart grid solutions such as energy storage systems (more…)

SINGAPORE: REC to invest S$250 million to boost solar modules efficiency, develop new type of panel

(EnergyAsia, April 4 2016, Monday) — REC, a global provider of solar energy solutions, has announced it will invest a total of S$250 million in automation, technology upgrade and research and development (R&D) efforts to bolster its operations in Singapore. (US$1=S$1.37). Eighty percent of that investment will go towards increasing productivity and efficiency at the (more…)

US: Proposed LNG projects to start well ahead of Canada’s, says Wood Mackenzie

(EnergyAsia, June 1 2015, Monday) — The US is well ahead of its resource-rich northern neighbour in developing projects to liquefy and export natural gas projects to Asia, said consultant Wood Mackenzie. “While North America’s huge gas resource base offers significant potential for LNG exports, 50 million tonnes per annum (mmtpa) of LNG production capacity (more…)

IEA dampens expectations for major oil price rise despite call for slower supply growth

(EnergyAsia, March 9 2015, Monday) — Forget about oil prices overshooting to the upside and making a strong recovery even as the growth in global oil supply slows sharply from mid-year, predicts the IEA. With the drastically changed market conditions, the agency said it expects the crude oil price to average US$55 per barrel for (more…)

ASIA: TMF Group sees sustained cheap oil boosting region’s GDP by up to 0.5%

(EnergyAsia, March 6 2015, Friday) — Asia’s collective GDP could be boosted by between 0.25% and 0.5% for 2015 if crude oil prices remain at current levels, said global business services provider TMF Group. For China, the US$50 per barrel plunge in oil price is generating an immediate stimulus worth US$112 billion or the equivalent (more…)

MARKETS: Most developing countries will benefit from oil price slump, says World Bank

(EnergyAsia, January 16 2015, Friday) –— Most oil-importing developing countries are positioned to reap “substantial” benefits benefit from the collapse in crude prices, now expected to hit six-year lows, said the World Bank. In an analysis in its latest edition of Global Economic Prospects, the bank said it expects oil prices to remain weak through with “significant” (more…)

ASIA: Chinese, Malaysian state firms interested in TAPI gas pipeline

(EnergyAsia, January 15 2015, Thursday) — Chinese and Malaysian state-owned firms along with France’s Total are believed to have expressed interest in participating in the development of a proposed US$10 billion pipeline to deliver natural gas from Turkmenistan to Afghanistan, Pakistan and India. International firms will play an important role in planning, designing, building and (more…)

ASIA: ABB and Alstom sign power solutions agreements in Japan and Singapore

(EnergyAsia, January 13 2015, Tuesday) — In separate announcements, European power solutions providers ABB and Alstom have signed agreements to supply their technology and services in Japan and Singapore. ABB said it is partnering Hitachi Limited to supply high voltage direct current (HVDC) technology services to meet Japan’s energy demand while Alstom will work with (more…)

MARKETS: OPEC edges up global oil demand forecast for 2013 and 2014 on better outlook for the US and Europe

(EnergyAsia, December 2 2013, Monday) — Citing improving economic conditions in the US and Europe, the Organisation of Petroleum Exporting Countries (OPEC) has slightly raised its November forecast for global oil consumption for 2013 and 2014. It now expects this year’s global oil demand to rise by 860,000 b/d, up from last month’s call for (more…)

MALAYSIA: UK’s Petrofac secures US$120 million contract to provide “world-class” training capabilities for state Petronas

(EnergyAsia, September 18 2013, Wednesday) — UK-based oil and gas services provider Petrofac said it has secured a US$120 million agreement from Malaysian state energy firm Petronas to build, operate and manage two high-specification training facilities as part of its programme to enhance the capabilities of the local workforce. The operations and management components of (more…)

SINGAPORE: Qatargas to provide first LNG cargo to new terminal opening next year

(EnergyAsia, December 6 2012, Thursday) —- Qatargas Operating Company Ltd said it will deliver the first cargo of liquefied natural gas (LNG) to Singapore’s new terminal due to open in the first quarter of next year. The cargo, to be delivered on either a Q-Flex or a Q-Max LNG vessel, will be used to commission (more…)

AUSTRALIA: India’s Adani says Carmichael mine holds up to 10 billion tonnes of coal reserves

(EnergyAsia, December 6 2012, Thursday) — Adani Group, an India-based global infrastructure company, said it has mapped out Australia’s largest mining exploration programme in Queensland state’s Carmichael mine which it claims holds up to 10 billion tonnes of coal reserves. As part of the programme, the company said it has deployed a record number of (more…)

SINGAPORE: Week of contrasting fortunes for rig builders SembCorp and Keppel

(EnergyAsia, December 6 2012, Thursday) — This was a week of contrasting fortunes for Singapore’s two world-leading oil rig builders. On Monday, Sembcorp Marine suffered one of its worst industrial accidents in recent years while Keppel Corp announced it had signed a US$1.2 billion contract to build two rigs. Sembcorp Marine, a subsidiary of Sembcorp (more…)

SINGAPORE: Offshore oil and gas event OSEA2012 sets record attendance with over 26,000 visitors

(EnergyAsia, December 5 2012, Wednesday) — A record of more than 26,700 people attended OSEA2012 in Singapore last week to make it Asia’s largest oil and gas business event. According to organiser Singapore Exhibition Services (SES), the participants from 75 countries and regions attended the event from November 27 to 30. As the premier sourcing (more…)

MARKETS: OPEC maintains forecasts for world oil demand growth for 2012 and 2013

(EnergyAsia, October 1 2012, Monday) — For the third consecutive month, the Organisation of Petroleum Exporting Countries (OPEC) has maintained its forecasts for global oil demand to grow by 900,000 b/d to 88.74 million b/d in 2012 and by 800,000 b/d to 89.55 million b/d next year. The cartel’s outlook contrasts that of the US (more…)

SINGAPORE: Singapore Power to invest S$2 billion in cross-island tunnels for electrical cables

(EnergyAsia, September 26 2012, Wednesday) — Singapore Power said it is investing S$2 billion to build two tunnels to hold and protect cross-island extra-high voltage transmission cables to ensure the supply of reliable, secure and quality power to 1.3 million consumers. (US$1=S$1.23). To be constructed between 2012 and 2018, the North-South and East-West cable tunnels (more…)

MARKETS: Seven ‘chokepoints’ handle half of world’s oil production, says US EIA

(EnergyAsia, August 28 2012, Tuesday) — About half of the world’s oil is supplied on maritime routes that could easily be disrupted along seven narrow channels known as chokepoints, said the US Energy Information Administration (EIA). Restrictions have to be placed on the size of vessels passing through these channels, making them the most vulnerable...

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