INDIA: Domestic oil demand continues to surge, partly boosted by new GST and economic reforms, say consultants

(EnergyAsia, November 18 2017, Saturday) — India’s domestic oil consumption is surging, helped in part by recent economic reforms including the introduction of the national goods and services tax (GST), said two energy consultants.

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INDIA: Analysts call for faster energy reforms, expansion of oil and gas infrastructure

(EnergyAsia, October 21 2017, Saturday) — India must speed up the expansion of its oil and gas infrastructure as well as the pace of energy reforms to sustain the country’s recent rapid rate of economic growth, said three analysts with consultant Wood Mackenzie.

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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.

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CHINA: Oil self-sufficiency declines as consumption grows, domestic production and reserves falter

(EnergyAsia, August 28 2017, Monday) — With oil prices seemingly stuck in the US$40-to-$50 a barrel range, China has been in a hurry to import crude at increasingly higher high rates. Chinese crude imports rose to an all-time high of 9.2 million b/d in March, compared with 7.6 million b/d for all of 2016, according to estimates by the US Energy Information Administration (EIA) and Reuters.

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CHINA: Will strong demand growth trigger another global oil price hike?

(EnergyAsia, August 25 2017, Friday) — More than three years into the global energy price collapse, complacent consumers could be ripe for another shock from “substantially higher oil prices” in the next few years, according to two economists at the Federal Reserve Bank of San Francisco.

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CHINA: Crude oil output on course to fall in 2017 after 5.1% decline in first-half

(EnergyAsia, August 22 2017, Tuesday) — China’s crude oil production is on course to decline for the second consecutive year after registering a higher-than-expected fall of 5.1% in the first half of 2017 over the same period of 2016.

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SAUDI ARABIA: Aramco’s hope for higher IPO valuation boosted by reserves upgrade

(EnergyAsia, June 29 2017, Thursday) — Saudi Arabia’s hopes for a lofty market valuation of soon-to-be-listed state energy firm Aramco has been boosted by a consulting firm’s decision to raise the kingdom’s recoverable oil reserves by more than 26%.

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QATAR: Shell signs new deals despite Doha’s regional political challenges

(EnergyAsia, June 19 2017, Monday) — As it digs in for a protracted political battle against several Arab countries, Qatar has been given a major endorsement by Anglo-Dutch energy giant Shell with the signing of two new business agreements.

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SAUDI ARABIA: Aramco and China’s Development Research Center (DRC) agree to advance joint collaboration and research

(EnergyAsia, June 15, 2017, Thursday) — Saudi Arabia’s state oil firm Aramco and China’s Development Research Center (DRC) have agreed to step up their collaboration and research activities in the energy sector.

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ASIA: Singapore retains regional oil storage and trading role despite growing competition

(EnergyAsia, June 2 2017, Friday) — Thanks to its well-established storage, refining and banking infrastructure, Singapore remains an important player in Asia’s booming oil trade despite growing competition from other countries.

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CHINA: More direct crude oil purchases from US strategic petroleum reserves expected

(EnergyAsia, May 31 2017, Wednesday) — China could be in line to buy up more crude oil released from the US strategic petroleum reserves (SPR) following its first purchase in February. The prospect of the US selling off more stockpiled crude to China reflects the radically different outlook on supply adopted by the world’s two largest oil-consuming countries.

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SRI LANKA: India in renewed attempt to help redevelop, operate Trincomalee oil farm

(EnergyAsia, May 30 2017, Tuesday) — With a wary eye on China’s expanding presence in their neighbourhood, Sri Lanka and India have agreed to jointly develop a largely underused oil tank farm in the strategic port of Trincomalee located on the island state’s northeastern region.

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