(EnergyAsia, October 20 2016, Thursday) — The geopolitics of the international oil trade are about to be redrawn with a consortium led by Russia’s Rosneft PJSC making a proposed US$12.9 billion purchase of India’s privately-owned Essar Oil Ltd in the biggest corporate deal between the two countries….
(EnergyAsia, October 18 2016, Tuesday) — India expects Saudi Arabia and the UAE to join Iran in storing crude oil at its newly launched strategic stockpile terminal in Mangalore in Karnataka state….
(EnergyAsia, October 17 2016, Monday) — With a huge sigh of relief, the Kazakhstan government announced last week that the country’s much-delayed giant Kashagan oilfield has exported its first cargo after resuming production on October 12….
(EnergyAsia, October 12 2016, Wednesday) — Asia’s liquefied natural gas (LNG) market is undergoing massive restructuring brought on by surplus production capacity, pricing competition, the rise of spot trading, slowing demand growth and geopolitical manoeuvring….
(EnergyAsia, October 11 2016, Tuesday) — Saudi Arabia’s state-owned oil giant Aramco will increase the amount of crude oil it currently stores on Japan’s Okinawa Island from 6.3 million barrels to around 8.3 million barrels from next year.
(EnergyAsia, October 7 2016, Friday) — China’s increased oil buying to stock up its strategic petroleum reserves may have kept crude prices from collapsing over the last eight months, said analysts….
(EnergyAsia, October 4 2016, Tuesday) — Crude oil prices rebounded to their highest levels in nearly two months following the Organisation of Petroleum Exporting Countries (OPEC)’s surprise announcement on September 28 that its members would cut production….
(EnergyAsia, October 2 2016, Sunday) — The Canadian government and Malaysian state energy firm Petronas are playing a game of giving each other “conditional” approvals that will further delay the construction of a proposed liquefied natural gas (LNG) export terminal on the north-western coast of British Columbia province….
(EnergyAsia, September 30 2016, Friday) — Asia’s developing economies remain on course for another two years of strong growth despite the headwinds of tough global conditions, predicts the Asian Development Bank (ADB). In its latest survey of the region, the bank said it expects the 45 developing economies to grow by a collective 5.7% in (more…)
(EnergyAsia, September 22 2016, Thursday) – Asia’s import dependence on oil and gas products is set to rise further as the region’s refiners have largely failed to add or upgrade production capacity to take advantage of low feedstock cost over the last two years, said Bain & Company.
(EnergyAsia, September 19 2016, Monday) — The market for protecting oil and gas infrastructure in the Middle East is worth US$18 billion by 2018, with cybersecurity spending in the global industry expected to reach US$1.87 billion, according to an Abu Dhabi event organiser citing separate studies. The Middle East study was undertaken by MarketsandMarkets while (more…)
(EnergyAsia, August 28 2016, Sunday) — Confident that crude prices will remain low for some time, India is pushing ahead to build another giant oil refinery that will boost the nation’s total annual capacity by more than a quarter to 290 million tonnes….
(EnergyAsia, August 21 2016, Sunday) — Having never really dawned on India, the “Golden Age” of natural gas as coined by the International Energy Agency (IEA), could yet bypass the world’s third largest energy consumer altogether….
(EnergyAsia, August 18 2016, Thursday) — India faces a long and arduous battle to drastically reform its under-performing, heavily-shackled energy sector needed to support the long-term growth of its economy, said analysts….
(EnergyAsia, August 17 2016, Wednesday) — India has completely opened up its long-protected oil and gas sector to foreign investment, marking a major breakthrough in Prime Minister Narendra Modi’s campaign to reform the country’s under-performing economy….
(EnergyAsia, August 15 2016, Monday) — Indian state oil and gas firms are waiting for an opportunity to buy into Rosneft even as they are completing the purchase of a combined 38.9% stake in an East Siberian oil field from the Russian energy giant….
(EnergyAsia, July 23 2016, Saturday) — The outlook for China’s US$11 trillion economy and its energy sector will be a major talking point at the upcoming AsiaPowerWeek event in Seoul in South Korea on September 20 to 22. Around 8,300 international delegates and energy professionals are expected to attend the Pennwell-organised energy conference and exhibition,...
(EnergyAsia, July 20 2016, Wednesday) — The International Monetary Fund (IMF) said it may return to Angola in October to resume discussions after the financially-strapped government of President Jose Eduardo dos Santos rejected an offer of a loan bailout package….
(EnergyAsia, July 17 2016, Sunday) — The International Monetary Fund (IMF) said it is lending Iraq US$5.4-billion to help the war-torn country stave off economic collapse from the “double shocks” of the oil price collapse and on-going military conflicts….
(EnergyAsia, July 11 2016, Monday) — This is an edited version of an article written by Peter Harrop, chairman of IDTechEx, a Cambridge, UK firm which provides independent research and business intelligence and advice. Innovations undertaken separately by China’s Hanergy and Germany’s Africa GreenTec have helped advance the production and consumption of off-grid clean renewable...
(EnergyAsia, July 10 2016, Sunday) — Nigeria is hoping to revive the fortunes of its battered oil industry following last week’s memorandum of understating (MOU) to secure US$80 billion worth of energy investments from China….
(EnergyAsia, July 5 2016, Tuesday) — Thanks to its shale revolution, the US now has the world’s largest recoverable crude oil reserves of 264 billion barrels, said Norwegian consulting firm Rystad Energy….
(EnergyAsia, July 5 2016, Tuesday) — Two of Saudi Arabia’s largest state-owned companies said they have agreed to conduct a joint feasibility study to develop a fully integrated complex in the kingdom to convert crude oil into chemicals and high-end products….
(EnergyAsia, July 3 2016, Sunday) — The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said it and the Global Energy Interconnection Development and Cooperation Organization (GEIDCO) have signed a memorandum of understanding (MoU) to cooperate on boosting the region’s cross-border electricity connections and trade. Shamshad Akhtar, ESCAP’s Executive Secretary and the...
(EnergyAsia, June 29 2016, Wednesday) — Nigeria is bracing for more domestic political turmoil from a projected surge in inflation with the 43% collapse of the naira following the government’s June 20 decision to float the currency….