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Asian Energy News - page 132

 

Trump's Revenge: US Oil Floods Europe, Hurting OPEC, Russia

Apr 23, 2018

U.S. supplies to Europe set for all-time high in April; on course to overtake Russia, Saudi. As OPEC's efforts to balance the oil market bear fruit, U.S. producers are reaping the benefits - and flooding Europe with a record amount of crude…

Shell Active in Mideast, Russia Crude Liftings

Apr 20, 2018

Oil major buys various grades from Qatar, UAE, Russia; re-sells Qatar Marine and Sokol. Royal Dutch Shell has snapped up more than 8 million barrels of Middle East and Russian crude oil loading in June and resold some cargoes at higher premiums as it profits from robust demand in Asia…

Asia's Gasoline Glut Drags on Refining Margins

Apr 20, 2018

Asia's gasoline crack on Thursday hit lowest since 2016; recent high refinery throughput countered maintenance season. Gasoline profits for Asia's oil refiners hit their lowest since 2016, while refining margins have touched a three-month low…

Baker Hughes Profit Beats on Oilfield Services Growth

Apr 20, 2018

Baker Hughes, the oilfield services company controlled by General Electric, posted a quarterly profit that beat Wall Street estimates on Friday as improving oil prices prompted companies to ramp up production. The cost of a barrel of U.S…

Oil Falls After Trump Criticizes OPEC

Apr 20, 2018

Russia committed to cuts until end of year as 2018 demand looks strong (Goldman Sachs). Oil prices fell on Friday after U.S. President Donald Trump criticised OPEC and said oil prices were artificially high, but they were still set for a weekly gain…

Noble Amends Restructuring Plan, Scrambles for Shareholder Support

Apr 19, 2018

Noble's action on shareholders was criticised by SGX; Noble needs shareholders to support its restructuring. Bowing to criticism from the Singapore Exchange (SGX) and other investors, embattled Noble Group is removing a provision in its $3…

To Frack or Not to Frack? Australia's NatGas Dilemma

Apr 19, 2018

The decision by the government of Australia's Northern Territory government to allow the resumption of fracking for natural gas will do little to immediately solve the country's energy woes, but will likely sharpen political battle lines. The…

BP, Reliance Move Ahead in Deep Water

Apr 19, 2018

BP and Reliance Industries Limited (RIL) today announced the sanctioning of the ‘Satellite cluster’ project in Block KG D6. The companies are moving forward to develop the Block’s discovered deep-water gas fields in an integrated series of projects…

Eni has no plans to pull out of Rosneft deal after sanctions

Apr 18, 2018

Italian oil major Eni has no plans to pull out of its joint venture with Russia's Rosneft despite escalating sanctions against Russia, the head of Eni said on Wednesday.'We certainly have not pulled out, we're working with them,' CEO Claudio Descalzi said on the sidelines of a conference…

India, UK Govts Invest $711 mln in Indian Renewable Energy Fund

Apr 18, 2018

Lightsource BP and Indian private equity fund Everstone Group announced on Wednesday the creation of a 500 million pound ($711 million) fund to invest in renewable energy and clean technology in India.The fund, named Green Growth Equity Fund (GGEF)…

US Oil, Gasoline Stocks Fall in Latest Week

Apr 18, 2018

U.S. crude stocks fell last week as refineries cut output, while gasoline and distillate inventories fell, the Energy Information Administration said on Wednesday.Crude inventories fell by 1.1 million barrels in the week to April 13, compared with analysts' expectations for a decrease of 1…

Unipec, ENOC Place Lowest Offers in Bangladesh Oil Import Tender

Apr 17, 2018

Energy traders Unipec and ENOC placed the lowest offers in a tender by Bangladesh Petroleum Corp to buy up to 1.52 million tonnes of oil products for import in the second half of 2018, officials said on Tuesday.The state-owned company was seeking between 1…

China's Coal Import Restrictions may Pressure Pricing

Apr 17, 2018

The price of seaborne thermal coal in Asia may come under pressure as China moves to impose some import restrictions on imports of the polluting fuel. Several ports in southern and eastern China have introduced controls on coal imports,…

Thompson takes over from Founder Heavey, Tullow Oil

Apr 17, 2018

Tullow Oil plc (Tullow) announced the appointment of Dorothy Thompson as independent non-executive Director and Chair-designate of Tullow with effect from the conclusion of the Group’s Annual General Meeting (AGM) on 25 April 2018. It is anticipated Thompson will succeed Aidan Heavey…

Schlumberger Fights to Boost Patent Damages at US Supreme Court

Apr 16, 2018

The U.S. Supreme Court on Monday appeared divided over whether to make it easier for companies to recoup profits lost due to the unauthorized use of their patented technology overseas in a dispute involving Schlumberger NV, the world's largest oilfield services provider…

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