(EnergyAsia, July 1 2015, Wednesday) — The proponents of a US$10-billion pipeline network to deliver natural gas from Turkmenistan to Afghanistan, Pakistan and India (TAPI) are hoping to start work by December after more than two decades of delay….
(EnergyAsia, July 1 2015, Wednesday) — Turkmenistan’s decision to devalue its currency by 22% on January 1 will help its economy grow by nine percent this year but the current account deficit will more than double from last year’s 5.9% of GDP, said the International Monetary Fund (IMF)….
(EnergyAsia, June 30 2015, Tuesday) — With so much uncertainty on the economic and geopolitical fronts, the Organization of Petroleum Exporting Countries (OPEC) has frozen its crystal ball on how much oil the world will be consuming over the next two years in its latest monthly report for June….
(EnergyAsia, June 30 2015, Tuesday) — Largely in response to lower oil prices, Kazakhstan, Azerbaijan and Turkmenistan will reduce crude and condensate production by a combined 50,000 b/d in 2015 from last year’s 2.86 million b/d predicts the Organisation of Petroleum Exporting Countries (OPEC)….
(EnergyAsia, June 29 2015, Monday) — Japan’s Mitsubishi Heavy Industries, Ltd (MHI) said it has received an engineering, procurement and construction (EPC) order from Indian Oil Corporation Ltd to construct two storage tanks for a liquefied natural gas (LNG) terminal 25km north of Chennai city, formerly known as Madras….
(EnergyAsia, June 26 2015, Friday) — Analysts are reducing their forecasts for China’s natural gas consumption over the next two years in view of a slowing economy, low oil and coal prices, and the high cost of gas-fired electricity.
(EnergyAsia, June 22 2015, Monday) — After nearly 15 years of rapid growth, Kazakhstan’s high-flying economy will slow to a new low of just 1.7% this year under the combined weight of Russia’s problems and low oil and gas prices, predicts the World Bank.
(EnergyAsia, June 16 2015, Tuesday) — In attaching two major conditions to its twice-delayed final investment decision (FID), Malaysian state energy firm Petronas has thrown the initiative back to Canada over the fate of its proposal to build a C$36 billion liquefied natural gas (LNG) project in British Columbia province. (US$1=C$1.25)….
(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)….
(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 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 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 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, March 12 2015, Thursday) — The Indian government’s attempt to solve the country’s decade-long energy crisis took an unexpected twist yesterday with the arrest of its powerful former Prime Minister Manmohan Singh and some his allies to face charges of corruption and criminal conspiracy related to the alleged illegal sales and allocations of the country’s coal deposits during his time in power.
(EnergyAsia, March 11 2015, Wednesday) — Piracy, maritime accidents and potential terrorist acts are adding to the cost of moving and distributing oil and gas cargoes and general merchandise in Southeast Asia at a time of rising traffic through the increasingly congested Straits of Malacca and the Singapore Straits, said industry officials and analysts.
(EnergyAsia, March 10 2015, Tuesday) — India will emerge as the most important market for metallurgical coal from 2015 as its demand rises to surge ahead of Japan 10 years from now and China by 2035, said UK consulting firm Wood Mackenzie.
(EnergyAsia, March 2 2015, Monday) — The International Energy Agency (IEA) is promoting its chief economist, Fatih Birol, to head the agency from September 1. The 56-year-old Turkish national will succeed Maria van der Hoeven at the end of her four-year term as executive director on August 31. Mr Birol, who previously worked for the...
(EnergyAsia, February 26 2015, Thursday) — Reflecting the bleak outlook on oil prices, the US Energy Information Administration (EIA) expects a further narrowing of the global supply-demand gap on slowing production growth next year.
(EnergyAsia, February 23 2014, Monday) — Will a combination of rising demand and lower supply growth be sufficient to reverse the slump in world oil prices?
(EnergyAsia, February 20 2015, Friday) — The global oil markets will remain under selling pressure possibly for the next few years as consumption is not growing as fast as production amid record level of stockpiles, say traders and analysts.
(EnergyAsia, February 19 2015, Thursday) — The spirit may be willing but weak market conditions and strong growing opposition from environmental, business and labour groups are combining to block India’s pent-up desire to heal its sickly coal industry.
(EnergyAsia, February 18 2015, Wednesday) — In the latest oil crisis caused by crude prices plunging 50% over the second half of 2014, traders turned to storage to hedge against a protracted supply glut. The same strategy of stockpiling was deployed in 2008 when Brent crude went the other way, surging to a record high of over US$145 a barrel on fears of supply shortages.
(EnergyAsia, February 16 2015, Monday) — While the oil and gas industry is in retreat around the world, Papua New Guinea is blazing ahead with the planned expansion of a liquefied natural gas (LNG) project that was launched just months ago and the proposed development of a second greenfield project.