Post Tagged with: "Asia"

Source: Houston Chronicle

Saudis slash oil prices in Asia as virus causes demand shock

Houston Chronicle


Saudi Arabia’s state oil company made deep cuts to the price of crude it sells to Asia, where an outbreak of the coronavirus has caused a slump in demand.

Saudi Aramco lowered most of its official selling price …

February 6, 2020 - 2:00 pm
Source: Reuters/Arnd Wiegmann

BP raises Asian profile with Chinese acetic acid plant plan

Source: Reuters


LONDON (Reuters) – BP is increasing its Asian presence with an initial agreement, or memorandum of understanding, with China’s Zhejiang Petroleum and Chemical Corporation (ZPCC) to build a 1 million tonne a year acetic acid plant, BP said …

October 18, 2019 - 12:30 pm
Caught in Tariff War, Sinopec Seeks Waiver for Imported U.S. Oil: Sources

Caught in Tariff War, Sinopec Seeks Waiver for Imported U.S. Oil: Sources

From Reuters


China Petroleum & Chemical Corp, or Sinopec, is seeking a tariff exemption for U.S. oil being imported in coming months, sources familiar with the matter said, after Beijing late last week imposed retaliatory tariffs on U.S. goods, including …

August 26, 2019 - 6:02 am
An Oryx Midstream facility (source: Oryx Midstream Services)

Qatar May be Losing the Top Spot as World’s Biggest LNG Exporter

From CNBC


Qatar will lose its title as the world’s largest exporter of liquefied natural gas (LNG) within the next year, as Australia ramps up production on a slew of multi-billion dollar export projects.

“Australia and Qatar continued to jostle …

August 23, 2019 - 6:01 am
OPEC keeps curbs - Saudi Arabia Minister of Energy Khalid Al-Falih - Oil & Gas 360

Saudis to Limit Oil Exports in September to Stabilize Market

From The Houston Chronicle


Saudi Arabia plans to keep oil exports below 7 million barrels a day next month as OPEC’s biggest producer allocates less crude than customers demand in a bid to stabilize the market, according to the kingdom’s …

August 8, 2019 - 6:04 am
Japan LNG Buyers Talk Tough as Spot Prices Drop to 3-Year Lows

Japan LNG Buyers Talk Tough as Spot Prices Drop to 3-Year Lows

From Reuters


An inexorable decline in spot market prices for liquefied natural gas (LNG) is pushing utilities in Japan to be more aggressive in price reviews built into traditional long-term contracts linked to oil prices, lawyers and analysts said.

The …

August 7, 2019 - 6:04 am
BP to Enter India’s Fuel Retail Market with Reliance Tie-Up

BP to Enter India’s Fuel Retail Market with Reliance Tie-Up

From Reuters


Global oil major BP is deepening its ties with Indian conglomerate Reliance Industries by forging a fuel retailing joint venture to capitalize on rising demand in Asia’s third-biggest economy.

The move comes days after BP said it would …

August 6, 2019 - 6:01 am
Excelerate Energy’s EXCALIBUR LNG carrier (source: PR Newswire)

YPF Partners with Excelerate on LNG Exports

By Tyler Losier, Energy Reporter, Oil & Gas 360

YPF S.A. reaches preliminary agreement with Excelerate Energy to charter LNG carrier
YPF S.A., the state-operated oil company of Argentina, has reached a preliminary agreement with Excelerate Energy, a U.S.-based LNG

July 26, 2019 - 4:51 pm
Millions of Barrels of Iranian Oil Are Piled Up in China’s Ports

Millions of Barrels of Iranian Oil Are Piled Up in China’s Ports

From Bloomberg


Iran-owned tankers continue to haul shipments to bonded tanks, oil held by Iran’s state-owned producer and Chinese companies

Tankers are offloading millions of barrels of Iranian oil into storage tanks at Chinese ports, creating a hoard of crude …

July 22, 2019 - 6:15 am
Source: Alaska Gasline Development Corporation

Draft EIS Released for $43 Billion Alaska LNG Project

By Tyler Losier, Energy Reporter, Oil & Gas 360

Alaska Gasline Development Corporation receives FERC input for large proposed gas export project
Last Friday, the Federal Energy Regulatory Commission (FERC) published its draft environmental impact statement (EIS) for Alaska Gasline

July 2, 2019 - 6:28 pm
Source: Saudi Aramco

Saudi Aramco Signs 12 Agreements Worth Billions

By Tyler Losier, Energy Reporter, Oil & Gas 360

Aramco looks to expand its South Korean presence
Saudi Aramco has signed a series of 12 different agreements with a variety of South Korean companies in order to expand its international

June 26, 2019 - 1:22 pm
Source: Gazprom. LNG Tanker

Cooler Asia Summer May Add to LNG Woes as World Awash With Gas

From Bloomberg

Don’t count on a summer heatwave to rescue Asia’s liquefied natural gas prices. Weather forecasts signal lackluster demand in the largest importing region, raising prospects a global glut will deepen.

Temperatures across North Asia this summer will be …

May 15, 2019 - 5:52 pm
Asia’s Vanishing Gas Premium Leaves Europe as Swing Buyer

Asia’s Vanishing Gas Premium Leaves Europe as Swing Buyer

From Bloomberg

Asia is no longer the premium market for liquefied natural gas.

The key benchmark in the world’s biggest LNG consuming region, S&P Global Platts’ Japan/Korea Marker, has dropped below Dutch Title Transfer Facility prices for the first …

March 27, 2019 - 4:30 pm
Africa’s Largest non-OPEC Producer is on a Roll

Africa’s Largest non-OPEC Producer is on a Roll

Egypt is the largest non-OPEC oil producer in Africa and the third-largest dry natural gas producer on the continent, according to the EIA’s newest report on Egypt. In recent years, the country has seen political instability accompanied by growing power …

May 31, 2018 - 3:42 pm
Asia takes 35% of U.S. exported crude oil Jan.-Aug. 2017; snags 40% of U.S. exports in Sept.-Oct.

U.S. Crude Exports Jump to Record Level After Harvey Disrupts Refining

Hurricane Harvey disrupted U.S. Gulf Coast refining operations from late August to September in 2017, and pausing operations led to record-high U.S. crude oil exports when facilities reopened after the storm, the EIA reported today.

In October 2017, crude oil …

January 29, 2018 - 3:44 pm
The North Sea Will Have Legs in 2018: Halliburton CEO Miller

The North Sea Will Have Legs in 2018: Halliburton CEO Miller

Halliburton Company (ticker: HAL) announced a loss from continuing operations of $805 million, or ($0.92) per diluted share, for the fourth quarter of 2017. Adjusted income from continuing operations for the fourth quarter of 2017, excluding charges related to United …

January 22, 2018 - 5:34 pm
Cheniere Adds LNG Tankers to its Fleet Amid Demand Boom in Asia

Cheniere Adds LNG Tankers to its Fleet Amid Demand Boom in Asia

From Reuters

LONDON, Dec 5 (Reuters) – U.S. liquefied natural gas (LNG) producer Cheniere Energy has expanded its shipping fleet with a flurry of spot vessel charters to keep up with Asian winter demand growth as spot prices LNG-AS hit …

December 5, 2017 - 7:53 am

Saudi Arabia Cutting Exports to Asia by 300 MBOPD

Saudi Arabia will be shipping less crude to Asia in June as it prepares for stronger local demand

Saudi Arabia, the world’s top oil exporter, will reduce the number of barrels it sends to Asian markets in July by about …

June 12, 2017 - 1:34 pm
Source: Gazprom LNG Storage Tanks

Asia is Forming an LNG Buyers’ Club

Roughly one-third of the world’s LNG purchasing power is lobbying for flexible contracts

Global oversupply in liquefied natural gas has emboldened buyers to push for more favorable contracts.

Korea Gas Corp. (KOGAS), Japan’s JERA and China National Offshore Oil Corp. …

March 24, 2017 - 4:25 pm
Coal Demand Shifting to Asia with Big Implications for Markets

Coal Demand Shifting to Asia with Big Implications for Markets

As Europe and America consume less coal, China gains greater influence over coal industry

In its medium-term coal market report for 2016, IEA reports that global coal demand growth has stalled after more than a decade of 4% annual growth, …

December 22, 2016 - 5:22 pm
Iran is Undercutting Saudi Oil Prices

Iran is Undercutting Saudi Oil Prices

Iran selling Forozan Blend to Asia at a $2.43 discount

Iran is increasing pressure on fellow OPEC members as its attempts to retake lost market share in major markets like Asia.

The Islamic Republic is now undercutting the price of …

April 8, 2016 - 4:03 pm
Waning Coal Demand in Asia Pushes Global Trade Down for the First Time in 21 Years

Waning Coal Demand in Asia Pushes Global Trade Down for the First Time in 21 Years

Coal loses support as demand in China falters

The global coal trade declined for the first time in 21 years in 2014, and likely contracted further this year as well, according to information from the Energy Information Administration (EIA). The …

November 20, 2015 - 6:18 pm
The Next Decade’s Oil Demand Growth Story:  U.S. and India Overtake China

The Next Decade’s Oil Demand Growth Story: U.S. and India Overtake China

The U.S. and India will drive oil demand growth in the future – Raymond James

China’s economy has been a demand-growth powerhouse over the course of the last decade as the country’s industrial sector boomed, but China’s role in global …

November 16, 2015 - 6:33 pm
OPEC Members Undercutting Each Other in Fight for Market Share

OPEC Members Undercutting Each Other in Fight for Market Share

The spread on OPEC members’ crude widens as competition increases

Members of OPEC are beginning to cut their own prices relative to one another as the competition over share of global markets, particular Asia, continues to intensify. Traditionally, members of …

October 20, 2015 - 1:53 pm
Saudi Arabia Loses Market Share in Asia

Saudi Arabia Loses Market Share in Asia

Saudi’s market share in 7 Asian countries declined to 23.2% in the first half of the year

Crude oil imports from Saudi Arabia to seven major Asian markets declined 0.7% in the first half of 2015 compared to the same …

September 9, 2015 - 5:23 pm
IEA Revises Down Natural Gas Demand Growth

IEA Revises Down Natural Gas Demand Growth

Weaker than expected demand in Asia prompts agency to lower future growth expectations

The International Energy Agency (IEA) revised down its expectations for natural gas global demand growth to 2% from 2.3% a year ago in it its latest Medium-Term

June 4, 2015 - 3:13 pm
OPEC Producers Follow Saudi Arabia: Cut Prices to Asia

OPEC Producers Follow Saudi Arabia: Cut Prices to Asia

Iraq, Kuwait and Iran decided to cut prices to Asian markets, following a similar move by OPEC’s largest producer

Other OPEC producers have decided to follow in the footsteps of the organization’s largest producer and cut prices to Asian markets. …

February 11, 2015 - 6:06 pm
Saudi Cuts Prices in Asia (Again) to Defend Market Share

Saudi Cuts Prices in Asia (Again) to Defend Market Share

OPEC’s biggest producer prices oil at record lows to the Asian market, raises rates in the U.S. and Europe

Saudi Aramco announced its prices for March, dropping prices to the Asian markets to their lowest in over a decade in …

February 6, 2015 - 4:15 pm
Alberta pushes for rule change to spur Chinese investment, gain access to global markets

Alberta pushes for rule change to spur Chinese investment, gain access to global markets

Alberta’s new political leadership is calling on Ottawa to take another look at foreign investment rules blamed for a dramatic drop in energy investments from China.When the
October 31, 2014 - 10:05 am