(EnergyAsia, January 14 2015, Wednesday) — India should take advantage of the collapse in global oil prices by expanding its storage capacity and securing deals to stockpile crude for producing countries, said local industry officials.

(EnergyAsia, January 12 2014, Monday) — With Brent crude prices plunging to a near six-year low below US$50 a barrel, the International Monetary Fund (IMF) may have to lower its earlier forecast for Iraq’s oil-dependent economy to grow by two percent this year. An IMF team which met Iraqi Minister of Finance Hoshyar Zebari and (more…)

(EnergyAsia, January 8 2015, Thursday) — The collapse of oil prices has injected new political, economic, financial and social risks into an already uncertain global environment grappling with heightened geopolitical conflicts and economic uncertainties, said the International Energy Agency (IEA) and oil companies.

(EnergyAsia, January 6 2015, Tuesday) — As if China needed any encouragement, the near 50% collapse in oil prices since June has greatly aided its crude stockpiling and import programme with desperate suppliers lining up to unload their cargoes at huge discounts.

(EnergyAsia, December 31 2014, Wednesday) — The Middle East will deal another blow to the world’s crumbling oil markets next year as it starts up giant refineries to boost net exports of products by nearly one million b/d, compared with less than 400,000 b/d last year.

(EnergyAsia, December 31 2014, Wednesday) — The Middle East will deal another blow to the world’s crumbling oil markets next year as it starts up giant refineries to boost net exports of products by nearly one million b/d, compared with less than 400,000 b/d last year.

(EnergyAsia, December 30 2014, Tuesday) — As if China needed any encouragement, the near 50% collapse in oil prices since June has greatly aided its crude stockpiling and import programme with desperate suppliers lining up to unload their cargoes at huge discounts.

(EnergyAsia, December 29 2014, Monday) — Along with weaker oil prices, the US Energy Information Administration (EIA) has reduced its forecasts for both global oil demand and supply for 2015 in its December report compared with the previous month.

The agency expects the world to consume 92.32 million b/d in 2015, down from its November forecast of 92.50 million b/d, and to produce 92.75 million b/d instead of 92.91 million b/d.

(EnergyAsia, December 26 2014, Friday) — Indonesia’s two-month-old government has enlisted international energy firms to help state-owned Pertamina expand and upgrade its refining and oil storage facilities to support the country’s long-term economic growth.

(EnergyAsia, December 24 2014, Wednesday) — Papua New Guinea (PNG)’s economy faces downside risks despite the launch of a new income stream from liquefied natural gas exports (LNG) from last May, said the International Monetary Fund (IMF).

(EnergyAsia, December 19 2014, Friday) — As oil prices collapsed to their lowest levels since July 2009, analysts say the industry may have to defer more than US$900 billion in upstream investments, with some US$150 to US$170 billion at risk next year that will threaten the survival of many players around the world.

(EnergyAsia, December 18 2014, Thursday) — Woodside Petroleum Limited has delayed its investment decision in the proposed massive US$40 billion Browse liquefied natural gas (LNG) project off the coast of western Australia in favour of new opportunities in Canada.

(EnergyAsia, December 17 2014, Wednesday) — The weaker outlook for Asia’s developing economies is being offset by a “golden opportunity” to implelemt reforms presented by declining oil prices, said the Asian Development Bank (ADB).

(EnergyAsia, December 15 2014, Monday) — With the extra combined push from Chinese financing, French upstream expertise and South Korean shipbuilding, Angola is on course to becoming Africa’s largest oil producer with a two million b/d output target by 2017.

(EnergyAsia, December 11 2014, Thursday) — Malaysia’s state-owned energy firm, Petronas, expects to start up a 1.22-gigawatt coal-fired power plant by 2017 to supply electricity to a proposed oil refinery-petrochemical complex under construction in Johor state.