(EnergyAsia, July 20 2015, Monday) — India’s natural gas deficit will fall by nearly 58% over the next 10 years as annual supply will rise by nearly 8.5% to outpace domestic demand’s annual 3.8% growth, predicts credit rating agency ICRA….
(EnergyAsia, July 15 2015, Wednesday) — Crude prices have recovered from the initial sell-off following Tuesday’s news of Iran’s successful talks with the UN Security Council and Germany (P5+1) over the lifting of trade sanctions in exchange for tight restrictions and inspections on its nuclear programme. The five UN Security Council members include the US,…
(EnergyAsia, July 14 2015, Tuesday) — UK’s BG Group plc said it has started up the second train at its Queensland Curtis LNG (QCLNG) plant in Australia, seven months after the first train came onstream.
(EnergyAsia, July 13 2015, Monday) — Crude oil prices are starting the second half of 2015 on the defensive as Greece’s economic crisis, China’s US$3.3-trillion stock market plunge and the West’s likely lifting of trade sanctions against Iran dominate the headlines. The oil markets are hovering at a three-month low with Brent ending last week...
(EnergyAsia, July 2 2015, Thursday) — China Petrochemical Corp, or Sinopec, will fulfil its annual purchase of 7.6 million tonnes of liquefied natural gas (LNG) that forms a crucial part of an agreement for a joint venture project in Australia, said Origin Energy Limited….
(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 28 2015, Sunday) — European commodities trader Trafigura said it has signed an agreement with Singapore LNG Corporation Pte Ltd (SLNG) to use excess storage capacity at the company’s liquefied natural gas (LNG) terminal on Jurong Island. SLNG is the owner and operator of the country’s first LNG terminal that is capable of...
(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) — Led by Saudi Arabia in the Middle East and Brazil in Latin America, refiners failed to unleash a much-anticipated new “wave” of petroleum products to meet rising global demand, said a US energy consultant. In the first quarter of 2015 when global oil products demand roared to life, ESAI...
(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 18 2015, Thursday) — Following its £3.7b successful bid for oil producer Dragon Oil, Dubai’s state-owned Emirates National Oil Company (ENOC) said it has secured a US$1.5 billion term debt facility from a syndicate of local, regional and international banks. The nine-year facility denominated in US dollars and UAE dirhams was fully underwritten...
(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 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...