Tuesday, December 12, 2017

Asia News

Forties Pipeline Outage Benefits U.S. Exporters

File Image (CREDIT: AdobeStock / (c) Jose Gill)

The shutdown of Britain's largest crude oil pipeline is an early Christmas gift to U.S. exporters shipping to Asia, and a complication for Middle Eastern and African…

Sustainable Marine Energy’s Inshore Platform PLAT-I Powers Up

Photo: Schottel

On November 25th Edinburgh-based tidal energy technology developer Sustainable Marine Energy (SME) completed the installation of its game changing PLAT-I tidal energy system at Connel…

Novatek, Marubeni, Mitsui agree on LNG hub in Kamchatka

Russia's Novatek said on Tuesday it had signed a memorandum of understanding with Japan's Marubeni and Mitsui O.S.K. Lines to explore options for a liquefied natural…

Banking on US Shale Gas Boom, Asia Petrochemical Firms Switch to LPG

Asia petrochemicals firms are building tanks and retooling plants to store and process liquefied petroleum gas imported from the United States, counting on a flood…

European Oil Margins Sink, but Recovery Expected in 2018

Benchmark European oil refining margins, sank to a 15-month low on Wednesday, pressured by weakness in the gasoline market, but traders are betting on a recovery…

Sparrows Group Acquires Alpha Offshore Service

L-R - Stewart Mitchell, Sparrows Group and Mikkel Lund, Alpha Offshore

Sparrows Group has cemented its position in the renewables sector with the acquisition of Danish wind energy specialist Alpha Offshore Service A/S. Already a supplier…

LNG Shipping on Recovery Path: Golar

Photo: Golar LNG Limited

The shipping market recovery is underway, says Golar LNG. Shipping demand has exceeded supply growth for the first time since 2013. "The shipping market is showing strong signs of improving.

U.S. Crude Exports to Asia Complicate OPEC Strategy

file Image (CREDIT EuroNav)

U.S. crude oil is flooding into Asia, and may continue to do so as the arbitrage window that was initially created by Hurricane Harvey remains open, even though…

Worldwide Recruitment Solutions Opens in Singapore

Global energy recruiter Worldwide Recruitment Solutions (WRS) has launched its Asia hub Singapore office. Based on the 36th floor of the UOB building in the heart of the central business district…

Russia: Second LNG Plant in Arctic

File Image: A typical LNG Carrier at Sea (CREDIT: GAC)

Russia on Tuesday started production at its second liquefied natural gas plant, Yamal LNG, with the aim of shipping the first cargo on Dec. 8 from the remote Arctic port of Sabetta.

Asia oil refiners hungrily eye 300-item global oil smorgasbord

Asia's oil refiners can choose from a sprawling buffet of over 300 crudes from every continent except Antarctica as a combination of cheap freight and rising supplies…

U.S.-Asia Crude Exports Stall on Cheap Mideast Oil

Asian refiners shift towards cheaper Mideast oil, naphtha-trade; U.S. light oil exports to Asia only started 4 months ago. U.S. exports now going to Europe instead.

China Demand Drives Singapore Crude Storage Sales

File Image (CREDIT: AdobeStock / mikesjc)

22.6 million barrels of crude sold from storage in March; Chinese demand, more crude deliveries to Asia trigger sales. Crude oil sales from storage tanks around…

Aramco to Supply Full Asia Crude Contracts, More Light Oil

File Image (CREDIT: AdobeStock / Carabay)

The world's top oil exporter Saudi Arabia has stepped up sales of light oil to Asia by offering buyers more cargoes on top of the full contract volumes it will provide for May…

Platts to Publish U.S. Crude Prices in Asia

Platts, Argus vie for U.S.-Asia crude benchmark. Oil pricing agency S&P Global Platts said on Thursday it planned to publish U.S. crude prices at the close of the…

ExxonMobil to Produce Synthetic Oil in Singapore

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ExxonMobil is expanding its operations in Jurong to produce synthetic lubricants, including Mobil 1TM, the company’s flagship synthetic engine oil. The expansion…

Europe-Bound Diesel Diverted to Asia

At least two tankers redirected to Singapore; Vitol floating storage vessel also heading East. Diesel cargoes which had planned to discharge in a heavily-supplied…

Europe to be Natural Gas Kingmaker

File Image: CREDIT MISC

It's probably not quite here yet, but the trend is unmistakeable; the world is moving to a globally-linked natural gas market and the rise of liquefied natural gas (LNG) is the key driver.

By Shielding Asia from Supply Cuts, OPEC Risks Prolonging Glut

OPEC's efforts to hold market share in Asia by keeping its customers, which take about two-thirds of its exports, supplied amid wider output cuts could prolong the…

Asia Most Vulnerable to Mideast Oil Supply Shock

Low oil stockpiles in Asia, reliance on product imports heighten risks. Oil price surge would hit South Asian importers hardest. Diverse supply, forex surplus would shield China from any oil shock.