Asia liquefied natural gas (LNG) spot prices surged by 40% to a record high of over $56 per million British thermal units (mmBtu) on Wednesday, amid a global energy crunch and low gas inventories.Price agency S&P Global Platts' Japan-Korea-Marker (JKM)…
Asia needs to adopt a carbon pricing mechanism to help accelerate its transition towards lower emissions, a senior company official at oil major BP said on Monday.'A well-designed carbon pricing framework that is able to prevent carbon leakage…
Marine seismic data acquisition firm Shearwater GeoServices has won a contract in South East Asia.The company said the deal, with an unnamed client, was for a 3D survey project.The project, starting in early October 2021, will be conducted by the 107 meters long SW Duchess vessel…
Another month, another weak outcome for crude oil in Asia, the world's top-consuming region, with July's imports declining for a fourth month in five as demand weakened amid high prices and the ongoing coronavirus pandemic.Asia's imports for July were assessed at 21…
The OPEC+ deal to boost crude oil output from August was always the most likely outcome to the producer group's earlier impasse, and it should be enough to end market talk of $100 a barrel oil, at least for now.OPEC+ ministers agreed on Sunday to boost production by 400…
Wind turbine maker Siemens Gamesa's offshore wind turbine SG 11.0-200 DD has received a typhoon-resistant type certificate from TÜV NORD, a trait especially important for the growing offshore wind ambitions in Asia.The wind turbine type is able…
Exports of gasoline and blend stocks from Asia to the United States rebounded in May from April, including two rare shipments from India, to meet rising summer demand in the west, industry sources and analysts told Reuters.Global gasoline demand…
Liquefied natural gas (LNG) demand growth in Asia will slow down next year as the economic recovery stagnates and the capacity of competing fuels nuclear and coal expand in Japan and South Korea, research consultancy Wood Mackenzie said on Thursday…
The past year has undoubtedly been the most dramatic in the history of the global LNG industry. Demand buffeted by lockdowns and recession, liquefaction shut-in, pre-FID supply projects delayed and spot LNG prices crashing to all-time lows before going into orbit…
The move by the OPEC+ group of oil exporters to ease their output restrictions from May onwards is effectively a bet that the current soft demand for crude will improve at the same pace as production returns.If history is a guide, it will be extremely difficult to get that balance correct…
Floating offshore wind, despite the currently low installed capacity, could be the next frontier in wind power development in the Asia Pacific with almost limitless potential, says Wood Mackenzie, adding the total investment in the sector could be worth US$58 billion…
Wind turbine maker Vestas - which last week announced it would build the world's largest offshore wind turbine - said Monday it had appointed Purvin Patel as Regional President of Asia Pacific, to strengthen its presence and market position in strategic and fast-growing markets in the region…
Malaysian offshore energy services firm Sapura Energy said that its Brazilian joint venture with Seadrill is not affected by Chapter 11 cases filed by several Seadrill subsidiaries operating in Asia. Sapura Energy said it was responding to media…
The cost of shipping liquefied natural gas (LNG) from the United States to Asia hit a record high on Tuesday as appetite for the fuel from buyers there and delays through the Panama Canal reduced the amount of ships for hire.Freezing temperatures…
International offshore wind consultancy firm OWC has appointed Tom Whittle to its newly created role of Asia Pacific regional director.In 2018, OWC, an independent consultant offering project development services, owner’s engineering and technical due diligence to the offshore renewables sector…
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