(EnergyAsia, August 29 2015, Saturday) — Oil producers outside the Organisation of Petroleum Exporting Countries (OPEC) will continue to raise supply over the next two years despite the pressure of falling prices, the cartel said in its latest monthly report….
(EnergyAsia, August 28 2015, Friday) — India wants to activate a shelved decade-old agreement to import liquefied natural gas (LNG) from Iran as the Islamic regime prepares to be freed of international trade sanctions following breakthrough talks with six world powers over its nuclear energy programme….
(EnergyAsia, August 27 2015, Thursday) — Refiners will face an unbalanced global products market as early as 2017 pitching a gasoline surplus with a deficit in middle distillates and fuel oil that could start undermining profitability, said UK consulting firm Wood Mackenzie….
(EnergyAsia, August 22 2015, Saturday) — Slowing energy demand from China and India has pushed Australian thermal coal prices to their lowest levels in over eight years….
(EnergyAsia, August 22 2015, Saturday) — Swiss trading giant Vitol Group will fully own a Malaysian oil storage terminal after completing the US$830 million purchase of its local partner’s 50% share later this year….
(EnergyAsia, August 21 2015, Friday) —Kept out of the international market by trade sanctions for years, Iranian oil could be flowing again a lot sooner than expected following Tehran’s July 14 breakthrough talks with six world powers over its nuclear energy programme. The six, known as the P5+1 group, include the five UN Security Council…
(EnergyAsia, August 19 2015, Wednesday) — China faces “financial vulnerabilities” and “challenges” as its economy adjusts to a new era of significantly slower growth, according to recent separate reports by the World Bank and the International Monetary Fund (IMF)….
(EnergyAsia, August 18 2015, Tuesday) — After announcing a 47.3% plunge in second quarter profit, the CEO and president of Malaysia’s state-owned energy firm Petronas said he expects the company to tap into cash reserves this year to help pay for on-going operations, capital investments and mandated dividends to the government….
(August 16 2015, Sunday) — More than 1.2 billion people living in China’s 293 prefecture-level cities will benefit from clean air if the country imposes strict air pollution and environmental protection policies that reduces coal dependence or the mix of cleaner coal….
(EnergyAsia, August 14 2015, Friday) — China’s coal consumption will continue to grow through 2030 despite the government’s efforts to cap the country’s carbon emissions and boost the role of renewables in the energy mix, said the International Energy Agency (IEA)….
(EnergyAsia, August 13 2015, Thursday) — China will work with other countries to complement domestic measures to reduce its greenhouse gas output in the fight against global warming, according to a Chinese professor writing for the Institute for Energy Economics, Japan (IEEJ)….
(EnergyAsia, August 12 2015, Wednesday) — Despite growing calls to reduce the world’s greenhouse gas emissions, China, India and many developing countries are increasing their consumption of the most polluting fossil fuel — coal, according to a new study undertaken by three scientists at the Berlin-based Mercator Research Institute on Global Commons and Climate Change…
(EnergyAsia, August 11 2015, Tuesday) — China’s slowing energy demand is further draining the financial life out of Australia’s thermal coal miners and services companies at a time when they are struggling with low commodity prices, said US ratings agency Moody’s. China’s thermal coal demand is declining amid the country’s slowing industrial production and push...
(EnergyAsia, August 10 2015, Monday) — Boosted by a banking deal with the International Monetary Fund (IMF) last week, the newly appointed chairman of Libya’s National Oil Company (NOC) said he plans to lift the force majeure on the country’s Ras Lanuf and As Sidra oil terminals, according to a briefing note from MAST Security....
(EnergyAsia, August 9 2015, Sunday) — Japan’s second largest downstream oil company Idemitsu Kosan has agreed to buy over the bulk of Shell’s 35% stake in the Tokyo-listed refiner Showa Shell Sekiyu for about 169 billion yen. (US$1=124 yen)….
(EnergyAsia, August 8 2015, Saturday) — Reflecting the growing strength of the US economy, its refiners have been operating at a record throughput of over 17 million b/d since mid-July, said the Energy Information Administration (EIA). The rolling four-week average of US gross refinery inputs has been above the five-year range every week so far...
(EnergyAsia, August 8 2015, Saturday) — Turkmengaz, Turkmenistan’s state-owned gas company, has been chosen to lead an international consortium to build, finance, own and operate a proposed 1,600-km to deliver natural gas from Central Asia to South Asia. The Asian Development Bank (ADB) will continue to advise as well as help finance the US$7.6-billion pipeline…
(EnergyAsia, July 31 2015, Friday) — Continuing to defy the best economic advice, the world will boost spending on energy subsidies in 2015 to US$5.3 trillion or 6.5% of its GDP, said the International Monetary Fund (IMF)….
(EnergyAsia, July 30 2015, Thursday) — Some US$200 billion worth of upstream oil and gas projects have been put on hold amid the prolonged oil price weakness while the industry continues to reel from sharply lower returns on capital, according to two consultants….
(EnergyAsia, July 30 2015, Thursday) — Singapore’s port has issued a formal request for proposals to promote the use of liquefied natural gas (LNG) as a shipping fuel as part of a long-term plan to remain one of the world’s leading energy hubs. On Tuesday, the Maritime Port Authority (MPA) launched its first request-for-proposal (RFP)...
(EnergyAsia, July 30 2015, Thursday) — There might be hope for an oil price recovery next year, but Iran could spoil the party….
(EnergyAsia, July 27 2015, Monday) — After crashing by more than half over the past year, liquefied natural gas (LNG) prices will come under more pressure next year as production capacity will continue to grow faster than demand, according to an Australian government forecast….
(EnergyAsia, July 25 2015, Saturday) — The recent successful conclusion to Iran’s nuclear energy talks with the UN Security Council and Germany has reignited a race among key players in Asia and the Middle East to construct new regional pipelines to connect natural gas producers and consuming countries….
(EnergyAsia, July 22 2015, Wednesday) — Oil prices could soon be nearing the bottom of their trading range if the Organization of Petroleum Exporting Countries’ (OPEC) latest supply and demand forecasts hold true over the next 18 months….
(EnergyAsia, July 21 2015, Tuesday) — With global energy demand growing at a much slower rate than expected, a UK lobby group predicts companies may have to delay or cancel proposed liquefied natural gas (LNG) projects worth a total of US$283 billion through 2025….