Friday, February 23, 2018

Asia News

Asia's Soaring Gas Demand Beckons New LNG Projects

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

Global LNG imports rose by 20 percent in 2017; new demand emerges across South, Southeast Asia. Soaring gas demand from China, India and Southeast Asia is sucking…

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.

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…

LNG Heats Up Again as Market Changes: Russell

File Image: A Depiction of Harvey Gulf's Q-LNG ATB bunkering vessel. When built, this vessel, partnering with Shell, will provide LNG to a raft of new LNG / Dual Fuel Cruise ships currently being built. CREDIT: Harvey Gulf

If you were looking for signs that the liquefied natural gas (LNG) merry-go-round is starting to spin a little faster, the announcement of a planned massive expansion…

LNG Rebounds as Asian Buyers Replenish Inventory

file Image: A loaded LNG carrier transits the Med in a recent photo (CREDIT: Robert Murphy)

Interest for prompt spot cargoes still keen; demand could roll over to April. Asian spot liquefied natural gas (LNG) prices rebounded this week as persistently cold…

Sonatrach Eyes More Vessels to Boost Asia Gas Sales

(Photo: Sonatrach)

Algeria will acquire more vessels to transport gas to Asia as it eyes increased sales in that region, the chief executive of state energy firm Sonatrach said on Monday.

Unipec Hires Veteran Crude Trader for Hong Kong Office

Unipec, the trading arm of Asia's largest refiner Sinopec, has hired veteran crude oil trader Lee Yee Meng, who will join its office in Hong Kong in May, trade sources…

Asia Buyers Turn to U.S. for Cheap Crude

File Image (CREDIT: AdobeStock / (c) Carabay)

Traders send more U.S. crude to Asia on wide WTI-Brent spread; but China accounts for bulk of region's crude imports from U.S. Asia is set to ramp up crude oil imports…

Texas Flood: U.S. Oil Pours into Global Markets

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

United States taking share from OPEC nations in Asia, Europe, as China’s biggest U.S. crude buyer to double imports. In the two years since Washington lifted a 40-year ban on oil exports…

Fugro Returns to China for Gas Hydrate Research

Fugro Voyager (Photo: Fugro)

Dutch survey and geotechnical services firm Fugro said it has been awarded a contract by China’s Guangzhou Marine Geological Survey (GMGS) to perform gas hydrate…

PDVSA Escapes Bonaire Restrictions - for now

File Image (CREDIT: AdobeStock / (c) mikesjc)

A regulatory agency has decided not to impose restrictions on Venezuelan state-run oil company PDVSA's operations at its terminal on the Dutch Caribbean island of…

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…

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.

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…

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…

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…

Oil Falls as Stronger Dollar Eclipses U.S. Inventory Drop

File Image (CREDIT: AdobeStock / (c) scanrail)

Stronger dollar makes oil costlier for some buyers; API report showed lower U.S. crude inventories. Oil prices fell on Thursday, dragged lower by a firmer dollar…

U.S. Crude Exports to Asia May Shake Up Global Prices

File Image: A VLCC Underway in the Suez Canal (CREDIT: Suez Canal)

The great disruptor that is U.S. shale oil is coming to Asia, as refiners in the energy-hungry region look to expand and diversify their sources of crude, and the…