(EnergyAsia, June 11 2015, Wednesday) — Weeks after divesting its stake in New Zealand’s only refinery, US major Chevron said it is selling its retail and lubricants operations to local company Z Energy for a total of NZ$785 million. (US$1=NZ$1.40). Chevron will sell 150 Caltex service stations together with 70 truck fuelling stations and the...
(EnergyAsia, June 9 2015, Tuesday) — Chinese officials said they expect the country to invest a total of nearly US$900 billion in more than 900 projects under its strategy to develop an expanded Silk Route and a new maritime belt to connect various parts of the world….
(EnergyAsia, June 9 2015, Tuesday) — The eight economies of Central Asia and the Caucasus will experience a sharp slowdown in growth this year on the twin negative impacts of weak global commodity prices and Russia’s financial troubles, said the International Monetary Fund (IMF)….
Comment by Grenatec (EnergyAsia, June 8 2015, Monday) — If US navy ships traverse the South China Sea to demonstrate freedom of navigation, what route might they take? A US Navy flotilla tour of the South China Sea could underscore Reed Bank’s potential as a Joint Development Area. One route could be a broad arc passing...
(EnergyAsia, June 1 2015, Monday) — The US is well ahead of its resource-rich northern neighbour in developing projects to liquefy and export natural gas projects to Asia, said consultant Wood Mackenzie. “While North America’s huge gas resource base offers significant potential for LNG exports, 50 million tonnes per annum (mmtpa) of LNG production capacity (more…)
(EnergyAsia, May 29 2015, Friday) — Crude prices have survived months of heavy selling pressure despite evidence of a growing glut since the start of the year. As Organization of Petroleum Exporting Countries (OPEC) ministers prepare to meet in Vienna on June 5, they will note with some satisfaction that prices have recovered by more…
(EnergyAsia, May 29 2015, Friday) — In signing a much-awaited memorandum of understanding (MOU) and two major agreements with Pacific NorthWest LNG (PNW) on May 20, the British Columbia government made good its promised support for the company’s proposed project to produce liquefied natural gas (LNG) in northern BC for export to Asia….
(EnergyAsia, May 27 2015, Wednesday) — After a delay of about a year, Australia has launched commercial operations at the world’s first plant to convert coalbed methane (CBM) to liquefied natural gas (LNG)….
(EnergyAsia, May 26 2015, Tuesday) — Saudi Arabia’s state-owned energy firm Aramco has opened an energy research centre in Beijing to help drive its innovation and technology development programme in China. Saudi petroleum minister Ali I. Al-Naimi officially opened the 4,400-square metre Beijing Research Center (BRC), the 10th in the company’s global research and development...
(EnergyAsia, May 25 2015, Monday) — Crude prices are holding onto recent gains as the market is divided between reports of the growing global oil surplus and escalation in Middle East violence with the Islamic State (ISIS) expanding its territorial control and launching a first attack inside Saudi Arabia….
(EnergyAsia, May 20 2015, Wednesday) — The global oil glut is about to worsen, according to the US Energy Information Administration (EIA) which has raised its forecast for global oil supply over the next two years to widen the gap over demand….
(EnergyAsia, May 18 2015, Monday) — Having done the hard part of attracting A$250 billion worth of liquefied natural gas (LNG) investments, Australia may yet miss out on A$55 billion worth of benefits when the new plants start up over the next few years, said consulting firm Accenture. (US$1=A$1.3). In a new report, the consulting...
(EnergyAsia, May 11 2015, Monday) — Asia, Russia and Europe will account for the bulk of the global shutdown of as much as two million b/d in oil refining capacity over the next 18 months, said a US-based consulting firm….
(EnergyAsia, May 4 2015, Monday) — Australia’s upstream sector is worried even though it appears to be thriving after producing record volumes of natural gas and liquefied natural gas (LNG) last year, and boosting crude and condensate output by more than 18%. The sector’s outlook has worsened following the collapse of global oil and gas…
(EnergyAsia, May 1 2015, Friday) — Crude prices are near five-month highs as sentiments continue to favour further upside in the near term. US WTI is poised to top US$60 a barrel for the first time since December while Brent is just over US$3 short of breaking the US$70 mark.
(EnergyAsia, April 30 2015, Thursday) — The US Energy Information Administration (EIA) has slashed its forecast for global oil supply next year as more US shale-based producers buckle under the financial pressures of low oil prices and reduced financing for the industry….
(EnergyAsia, April 29 2015, Wednesday) — India’s northwestern Gujarat state is consolidating its status as the country’s main energy hub with plans to add two liquefied natural gas (LNG) import terminals to its existing 15 million tons/year capacity….
(EnergyAsia, April 28 2015, Tuesday) — China faces a long list of risks in its strategy to develop the old Silk Route and a new maritime channel to connect Asia with the Middle East, Africa and Europe, said consultant Wood Mackenzie. Beijing’s ‘One Route One Belt’ strategy holds the promise of creating a new “commodity...
(EnergyAsia, April 27 2015, Monday) — Singapore’s Sembcorp Industries said it has been awarded a contract to develop and operate what will be Myanmar’s largest gas-fired independent power plant. In securing its first investment in the country’s fast-growing power sector, Sembcorp said it beat off competition from international rivals for the proposed 225MW project in...
(EnergyAsia, April 24 2015, Friday) — Australian mototrists will bear the brunt of the country’s plan to invest “billions and billions and billions of dollars” to raise its strategic petroleum reserves to meet at least 90 days of consumption from the current level of 52 days, said Industry Minister Ian Macfarlane….
(EnergyAsia, April 22 2015, Wednesday) — Weighed down by sluggish exports, India failed to make the most of the windfall provided by nine months of lower oil prices as it reported a wider merchandise trade deficit for the last financial year to March 31 2015….
(EnergyAsia, April 21 2015, Tuesday) — Pakistan, one of the world’s most politically unstable countries and often rated a failed state, is attracting big investment bets from China and Russia….
(EnergyAsia, April 17 2015, Friday) — Excluding Iran, the Organisation of Petroleum Exporting Countries (OPEC) could see their oil export earnings plunge by nearly half in 2015 to follow through on last year’s 11% decline, predicts the US Energy Information Administration (EIA). The sharp drop in crude prices since June dragged down the collective export...
(EnergyAsia, April 16 2015, Thursday) — India may open up its protected oil storage sector to foreign investments to jump-start a long-delayed programme to build strategic reserves….
(EnergyAsia, April 15 2015, Wednesday) — A combination of low oil prices and India’s resurgence will enable South Asia to remain the world’s fastest economic region over the next two years, predicts the World Bank….