INDIA: GAIL signs up WGL to supply natural gas for liquefaction at Maryland LNG terminal in the US

EnergyAsia, December 8 2014, Monday) — US-based WGL Midstream Inc has agreed to supply natural gas to the local subsidiary of state-owned GAIL India Limited for the production of 2.5 million tonnes/year of liquefied natural gas (LNG) from the export-oriented Cove Point terminal now under construction in Maryland state. WGL Holdings, a Washington DC clean […]

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COMPANY: Oiltanking appoints Verniers and Vos as managing directors

(EnergyAsia, December 5 2014, Friday) — German oil, chemicals and gas storage company Oiltanking GmbH has named Koen Verniers to lead the company’s eastern operations while Daan Vos will have responsibility for the western half from January 1. Koen Verniers, currently acting as President of Oiltanking Asia Pacific Pte Ltd, will be managing director for […]

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MALAYSIA: Petronas under pressure to cancel Canadian LNG project

(EnergyAsia, December 4 2014, Thursday) — With oil prices at a five-year low and falling, Malaysia’s state energy firm Petronas is under financial and domestic political pressure to delay either the final investment decision (FID) or the project start-up date, or both, of its proposed liquefied natural gas (LNG) plant in Canada’s British Columbia (BC) […]

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MARKETS: Saudi’s ‘nuclear’ solution to wipe out competition could set stage for much higher oil prices

(EnergyAsia, December 3 2014, Wednesday) — As panic grips oil and gas producers spooked by crude prices plunging to five-year lows, traders are  focused on how much lower the markets can go. US$100 is suddenly a distant memory while talk of US$150 oil has been consigned to unfounded fears associated with the Islamic State’s (ISIS) […]

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INDONESIA: Adaro Energy and Shenhua to develop coal-fired power plant in East Kalimantan

(EnergyAsia, December 2 2014, Tuesday) — Indonesia’s Adaro Energy said it and China’s Shenhua have signed a memorandum of understanding (MOU) to develop a 2x300MW coal-fired power plant in East Kalimantan. The project represents the Indonesian coal miner’s first venture into the power industry. Through their subsidiaries, the two companies will establish a joint venture […]

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MARKETS: EIA expects oil prices to remain under pressure after slashing global oil demand, raising supply outlook for 2015

(EnergyAsia, November 28 2014, Friday) — The US Energy Information Administration (EIA) expects oil prices to remain under selling pressure after slashing its latest forecast for 2015 global demand while raising the supply outlook. In its November report, the agency said it expects Brent crude oil spot prices to average US$83 per barrel in 2015, […]

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MARKETS: IHS, Bloomberg expect bulk of US shale-based production to remain profitable with WTI at US70-$75 a barrel

(EnergyAsia, November 28 2014, Friday) — After plunging by a third since peaking in June to their lowest levels in four-and-half years, crude oil prices still have room to fall, going by the conclusions of two recent studies pointing to the resilience of US unconventional oil in a bear market.   This complete article is […]

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ASIA: LNG market remain weak, hardening buyers’ resolve in fight to change oil-linked pricing formula

(EnergyAsia, November 27 2014, Thursday) — With liquefied natural gas (LNG) supply growth outpacing demand, Asian buyers have the upper hand for now although a blast of cold from unpredictable weather conditions could easily spike prices, said consultant Wood Mackenzie. Riding the downtrend, according to the International Energy Agency (IEA), Asian buyers are digging in […]

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MARKETS: OPEC retains global economic and oil outlook as prices stay weak

(EnergyAsia, November 26 2014, Wednesday) — The weakest oil market in four years is having no impact on the Organisation of Petroleum Exporting Countries’ (OPEC) views on the world economy and oil supply-demand balances. For the fourth consecutive month, OPEC has kept unchanged its forecasts for the world economy to grow by 3.2% this year […]

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