(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….
INDIA: State firms to build oil storage terminal in Kerala state, Gulf Petroleum starts up depot in Gujarat (EnergyAsia, April 10 2015, Friday) — A consortium of three state-owned Indian firms is planning to build an oil storage terminal in the country’s southwestern state of Kerala while UAE-based Gulf Petroleum recently started up its terminal…
(EnergyAsia, April 7 2015, Tuesday) — Growing faster than China’s, the Indian economy will become the world’s third largest by 2019 to exceed the combined size of Japan and Germany, said International Monetary Fund (IMF) managing director Christine Lagarde….
(EnergyAsia, April 3 2015, Friday) — The Indian government has approved a special 495-billion rupee budget to help pay for the cost of procuring and maintaining its strategic crude oil stockpiling programme due to start over the next few months. (US$1=62 rupees)….
(EnergyAsia, April 2 2015, Thursday) — Indian Prime Minister Narendra Modi has challenged his country to slash its oil and gas import dependence from 77% now to 67% by 2022….
(EnergyAsia, March 31 2015, Tuesday) — Malaysia remains on track to become a “high-income status” economy by 2020, said Asian Development Bank (ADB) President Takehiko Nakao after recently meeting the country’s leaders in Kuala Lumpur. Mr Nakao, who met Prime Minister Najib Abdul Razak and senior Malaysian officials, was in the country to attend the…
(EnergyAsia, March 27 2015, Friday) — China could open up its tightly-held oil and gas storage and pipelines sector to foreign investment as the next phase of the national plan to enhance domestic energy security….
(EnergyAsia, March 26 2015, Thursday) — Despite rising demand and an improving global economy, oil prices remain under pressure from continuing supply growth, a strong US dollar, insufficient storage and speculative bets for further declines, said the Organisation of Petroleum Exporting Countries (OPEC)….
(EnergyAsia, March 25 2015, Wednesday) — Swimming against a new wave of bearish calls based on rising oil stockpiles, the US Energy Information Administration (EIA) has largely kept its latest forecast for Brent and WTI crude prices for this and next year. The agency expects the 2015 Brent crude price to average US$59 a barrel,…
(EnergyAsia, March 23 2015, Monday) — After four straight years of decline, Japan’s total energy consumption, buoyed by a mild economic recovery, could begin growing again in the coming financial year starting April 1, according to an analyst at the Institute of Energy Economics, Japan (IEEJ)….
(EnergyAsia, March 17 2015, Tuesday) — Thanks to its increasingly diversified economy, Malaysia faces “favourable” prospects for 2015 despite sharply reduced earnings from oil and gas exports, said the International Monetary Fund (IMF)….
(EnergyAsia, March 3 2015, Tuesday) — Faced with the growing threats of deflation and a weak global economy, Asia’s largely export-dependent countries will be hoping Wall Street analysts are spot on with their starkly bearish views on the global oil and gas markets….
(EnergyAsia, February 25 2015, Wednesday) — Faced with the prospect of a prolonged oil price collapse, Malaysia’s state energy firm Petronas Berhad will demand its incoming chief executive and president to immediately cut costs and make nerve-wracking decisions on the fate of several multi-billion-dollar projects….
(EnergyAsia, December 23 2014, Wednesday) — OPEC’s latest monthly report on the oil markets contains a paradoxical call for faster global economic growth and weaker oil demand….
(EnergyAsia, October 28 2014, Tuesday) — Malaysia’s state energy firm Petronas is pushing ahead with its proposed US$16-billion refinery-petrochemical complex in Johor state, further dimming the prospects for its troubled proposed liquefied natural gas (LNG) terminal in western Canada. Last week, PRPC Utilities and Facilities Sdn Bhd, a secondary Petronas subsidiary, awarded an engineering, procurement...
(EnergyAsia, October 27 2014, Monday) — With domestic crude production at their highest levels since 1986, the US raised its export of domestically produced crude oil in July to a 57-year high of 401,000 b/d, a figure that far exceeds Australia’s entire production. This together with a “modest” volume of Canadian crude that the US...
(EnergyAsia, October 24 2014, Friday) — In a bold move to solve India’s worsening decade-old domestic energy crisis, the five-month-old government of Prime Minister Narendra Modi has made a surprise move to free up the domestic coal sector by allowing international firms to develop and mine the country’s sizeable deposits. The Coal Mines (Special Provisions)...
(EnergyAsia, October 23 2014, Thursday) — UK hedge fund TCI has sold off its entire 1.8% stake in Coal India Limited after failing in its repeat attempts to reform one of the world’s largest coal mining firms. According to local press reports, the firm sold off its remaining 160,000 shares last week that was part...
(EnergyAsia, October 21 2014, Tuesday) — The Indian government of Prime Minister Narendra Modi expects to soon begin auctioning off the mining and development licences for 214 coal blocks that were among 218 cancelled by the Supreme Court last month. Speaking to the local media last week, Financial Services Secretary G.S. Sandhu said the five-month-old...
(EnergyAsia, October 17 2014, Thursday) — Oil prices rebounded sharply on the overnight markets as traders closed out their positions ahead of the expiry of crude options and futures contracts in New York and London. North Sea Brent crude skidded to a near four-year low of US$82.60 a barrel on Wednesday before surging to a...
(EnergyAsia, October 14 2014, Tuesday) — Elected on high hopes that it would revive India’s stuttering economy, the five-month-old government of Prime Minister Narendra Modi has yet to show that it has a plan to solve the country’s worsening power supply shortages that contributed to the previous government’s downfall. The sharp decline in global oil,...
(EnergyAsia, October 9 2014, Thursday) — North Sea Brent crude oil prices have been on an extended weak run trading below US$100 a barrel since September 5, even slipping below US$94 to its lowest level in more than two years. Ironically, Brent began falling after hitting a peak of US$115 a barrel on June 19...
(EnergyAsia, October 8 2014, Wednesday) — India remains deeply mired in an energy supply crisis, but for now, it is at least reaping the benefits of an unexpectedly prolonged weakness in global oil, gas and coal prices. Since reaching a peak of US$115 a barrel in June, Brent crude prices have plunged to a two-year...