MALAYSIA: ADB affirms positive economic outlook despite oil price collapse, domestic political turbulence

(EnergyAsia, March 31 2015, Tuesday) — Malaysia remains on track to become a “high-income status” economy by 2020, said Asian Development Bank (ADB) President Takehiko Nakao after recently meeting the country’s leaders in Kuala Lumpur. Mr Nakao, who met Prime Minister Najib Abdul Razak and senior Malaysian officials, was in the country to attend the […]

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AUSTRALIA: Chevron sold off entire 50% stake in Caltex to focus on LNG projects

(EnergyAsia, March 30 2015, Monday) — US major Chevron has sold off its entire long-held 50% stake in Australia’s largest downstream company for A$4.7 billion to focus on developing its core Gorgon and Wheatstoneliquefied natural gas (LNG) projects. (US$1=A$1.30). Despite the exit, Chevron said in a statement it remains one of Australia’s largest foreign investors and […]

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MALAYSIA: Southeast Asia’ s first crude oil storage terminal launched

(EnergyAsia, March 26 2015, Thursday) — Malaysia’s Johor state has started up Southeast Asia’s first commercial crude oil storage terminal with the receipt of one million barrels of Middle Eastern crude from a supertanker last week. MT Mesdar, a vessel chartered by France’s Total, docked at the Pengerang deepwater terminal jointly owned by Dutch oil […]

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MARKETS: OPEC raised global oil demand forecast as price outlook remain under pressure and uncertain

(EnergyAsia, March 26 2014, Thursday) — Despite rising demand and an improving global economy, oil prices remain under pressure from continuing supply growth, a strong US dollar, insufficient storage and speculative bets for further declines, said the Organisation of Petroleum Exporting Countries (OPEC).   This complete article is available to Members Only […]  

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MARKETS: EIA holds oil price forecast, sees global oil demand and supply levels at new highs in 2015 and 2016

(EnergyAsia, March 25 2015, Wednesday) — Swimming against a new wave of bearish calls based on rising oil stockpiles, the US Energy Information Administration (EIA) has largely kept its latest forecast for Brent and WTI crude prices for this and next year. The agency expects the 2015 Brent crude price to average US$59 a barrel, […]

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MARKETS: BIMCO developing charter to bring greater flexibility to LNG spot trades

(EnergyAsia, March 24 2015, Tuesday) — In response to the growing liquefied natural gas (LNG) trade, the world’s largest shipping association said it is working with the industry to develop a new contract to provide for better risk and cost-management of the fuel’s transportation under voyage charter terms. The Baltic and International Maritime Council (BIMCO), […]

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JAPAN: Analyst predicts energy consumption to rise in fiscal 2015 after four years of decline

(EnergyAsia, March 23 2015, Monday) — After four straight years of decline, Japan’s total energy consumption, buoyed by a mild economic recovery, could begin growing again in the coming financial year starting April 1, according to an analyst at the Institute of Energy Economics, Japan (IEEJ).   This complete article is available to Members Only […]

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ASIA: Summer LNG price rally to be cut short by additional Australian production, says Wood Mackenzie

(EnergyAsia, March 19 2015, Thursday) — Asia’s liquefied natural gas (LNG) prices will enjoy a brief rally in the summer that will be quickly cut down by the start-up of new production capacity in Australia, predicts energy consultant Wood Mackenzie. The expected resumption of operations at some nuclear plants in Japan will also pressure Asian […]

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