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, with demand in 2016 to be below 2013 levels. Consumption decreased for the first time in 2015 as declines in
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 Saudi crude oil in Asia after holding its own crude at a premium to Saudi Arabia’s light crude for almost
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 global coal trade grew rapidly from 2008 to 2013 as demand in Asia picked up to support expanding economies in
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 demand growth will be on the decline moving forward, according to research from Raymond James. Stepping up to take China’s
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 OPEC move prices together, but data today shows Kuwait is undercutting Saudi Arabia by the most on record and Iraq
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 Gas Market Report. One of the main drivers behind the revision was lower than expected gas demand in Asia, said
Nathan VanderKlippe, The Globe and Mail 6:44 AM, E.T. | October 31, 2014 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 federal government gave its approval of the $15.1-billion (U.S.) takeover of Nexen Energy ULC in late 2012, it came with
