(EnergyAsia, October 26 2016, Wednesday) — Asia’s crude oil demand and refinery throughput will grow at a slower rate through 2018 from 2015 and 2016, predicts US consultant ESAI Energy….
ASIA: Rising oil prices add to fears of further economic slowdown
(EnergyAsia, October 26 2016, Wednesday) — Asia’s mostly energy-deficit economies are watching nervously as crude oil prices continue to defy bearish forecasts in recently reaching their highest levels in nearly a year….
AUSTRALIA: Exploration and production headed for further decline, says Department of Industry
(EnergyAsia, October 23 2016, Sunday) — Oil and gas explorers are losing their appetite for Australia with investment expenditure now at their lowest in over a decade, said the Department of Industry, Innovation and Science.
AUSTRALIA: Crude and condensate exports to fall, product imports to rise in FY2016, says Department of Industry
(EnergyAsia, October 21 2016, Friday) — Australia’s petroleum trade will remain a tale of two opposing trends for the rest of the current fiscal year ending June 30 2017: falling crude and condensate exports, and rising product imports….
INDIA: Russia makes statement with Rosneft’s joint purchase of Essar Oil, sale of upstream stake to ONGC
(EnergyAsia, October 20 2016, Thursday) — The geopolitics of the international oil trade are about to be redrawn with a consortium led by Russia’s Rosneft PJSC making a proposed US$12.9 billion purchase of India’s privately-owned Essar Oil Ltd in the biggest corporate deal between the two countries….
INDIA: UAE and Saudi Arabia courted as Iran supplies first cargo to Mangalore oil storage
(EnergyAsia, October 18 2016, Tuesday) — India expects Saudi Arabia and the UAE to join Iran in storing crude oil at its newly launched strategic stockpile terminal in Mangalore in Karnataka state….
KAZAKHSTAN: Giant oilfield starts up, exports first cargo
(EnergyAsia, October 17 2016, Monday) — With a huge sigh of relief, the Kazakhstan government announced last week that the country’s much-delayed giant Kashagan oilfield has exported its first cargo after resuming production on October 12….
ASIA: LNG market breaking down and undergoing reforms
(EnergyAsia, October 12 2016, Wednesday) — Asia’s liquefied natural gas (LNG) market is undergoing massive restructuring brought on by surplus production capacity, pricing competition, the rise of spot trading, slowing demand growth and geopolitical manoeuvring….
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.
CHINA: Buying for stockpile reserves could be supporting world oil prices
(EnergyAsia, October 7 2016, Friday) — China’s increased oil buying to stock up its strategic petroleum reserves may have kept crude prices from collapsing over the last eight months, said analysts….
MARKETS: Prices rebound on news of OPEC output cut, but for how long?
(EnergyAsia, October 4 2016, Tuesday) — Crude oil prices rebounded to their highest levels in nearly two months following the Organisation of Petroleum Exporting Countries (OPEC)’s surprise announcement on September 28 that its members would cut production….
MALAYSIA: Petronas, Canadian government play “conditional” approval game to further delay proposed LNG project
(EnergyAsia, October 2 2016, Sunday) — The Canadian government and Malaysian state energy firm Petronas are playing a game of giving each other “conditional” approvals that will further delay the construction of a proposed liquefied natural gas (LNG) export terminal on the north-western coast of British Columbia province….