MARKETS: Oil prices unlikely to be affected by Western sanctions against Russia, says GlobalData

(EnergyAsia, August 6 2014, Wednesday) — Western trade sanctions against Russia in their dispute over Ukraine are unlikely to have a significant impact on world oil prices given the combined influence of other major geopolitical events already in play now, said UK based consulting firm GlobalData. Along with rising tensions between Russia and the West, […]

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MARKETS: Gasoline markets to tighten as global demand growth set to outpace that of diesel in 2014, says EIA

(EnergyAsia, August 5 2014, Tuesday) — For the first time in recent years, the world’s demand for gasoline will grow faster than diesel in 2014 while at the same time, refiners will start up new capacity to produce more diesel and kerosene than gasoline, said the US Energy Information Administration (EIA). These two trends are […]

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MARKETS: Oil prices down despite worsening geopolitics as conflicts in Ukraine, Gaza and Nigeria add to MidEast wars

(EnergyAsia, August 4 2014, Monday) — Forget geopolitics, crude oil prices fell through July as the world experienced one of its worst months of escalating conflicts in Ukraine and Gaza to add to the spreading religious, separatist, ethnic and resource wars in hydrocarbon-rich Iraq, Syria, Libya and Nigeria. North Sea Brent fell below US$105 a […]

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AFRICA: PwC urges governments to provide regulatory support to promote oil and gas investment

(EnergyAsia, August 1 2014, Friday) — Regulatory uncertainty leads a host of factors standing in the way of Africa developing its estimated reserves of 130.3 billion barrels of crude oil and 501.7 trillion cubic feet (tcf) of natural gas, said consultant PwC. In its latest annual survey of the continent’s hydrocarbon potential, PwC also mentioned […]

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ANGOLA: Africa’s new leading oil producer? Officials hopeful but decline looms after 2017

(EnergyAsia, July 30 2014, Wednesday) — Angola officials believe their country could soon overtake Nigeria to become Africa’s leading oil producer although analysts expect both to experience declines over the next few years. Angola’s petroleum ministry and state energy firm Sonangol have variously been stating that the country’s oil production could exceed two million b/d […]

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MARKETS: EIA predicts OPEC’s net export revenues to fall further in 2014 and 2015

(EnergyAsia, July 29 2013, Tuesday) — The export revenues of the Organisation of the Petroleum Exporting Countries (OPEC), excluding Iran, will continue to fall in 2014 and 2015 to follow through on last year’s 15.9% plunge, said the US Energy Information Administration (EIA). As a result of lower production and weak oil prices, the 12-member […]

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MARKETS: IEA study values “economic benefits” of 29 members’ oil stockpiles at US$3.5 trillion

(EnergyAsia, July 29 2014, Tuesday) — The International Energy Agency (IEA) has valued the combined 30 years of oil stockpiles of its 29 member countries at more than US$3.5 trillion due mainly to their ability to limit the impact of supply disruptions on the world economy. Up to end-March 2014, the IEA said its members […]

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INDONESIA: Election of Widodo as President could trigger US$30 billion in new foreign investment in upstream oil and gas sector, says consultant

(EnergyAsia, July 25 2014, Friday) — The election of Joko Widodo as Indonesia’s new president and Jusuf Kalla as vice president is potentially good news for Southeast Asia’s largest economy, particularly its energy and mining sectors, says UK consultant Wood Mackenzie. As a more progressive and pragmatic choice than his opponent, Prawbowo Subianto, Widodo’s victory […]

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