Saudi Arabia’s state oil company has assured several buyers in Asia it will deliver full contracted volumes in December despite the OPEC+ decision to cut production, Reuters has reported, citing unnamed sources. The assurance comes despite a commitment on the part of the Kingdom to reduce its production to contribute …
Read More »China and India Lead LNG Regas Additions in Asia
China and India will significantly expand their LNG import infrastructure over the next five years with the pair, led by China, set to record the highest LNG regasification capacity additions in Asia. China is set to register the highest liquefied natural gas (LNG) regasification capacity additions in Asia between 2022 …
Read More »Saudi Aramco to Maintain Full Oil Supplies to Asia in November despite OPEC+ Cuts
Saudi Aramco has told at least seven customers in Asia they will receive full contract volumes of crude oil in November ahead of the peak winter season, several sources with knowledge of the matter said on Monday (Oct 10). The producer is keeping supplies to Asia steady despite likely production …
Read More »Saudi Arabia Cuts Oil Prices for Asia and Europe as Demand Cools
Saudi Arabia cut oil prices for customers in Asia and Europe as coronavirus lockdowns and sagging economies cool energy demand in the two regions. State-controlled Saudi Aramco lowered its key Arab Light grade for next month’s shipments to Asian refineries from a record to $5.85 a barrel above the Middle …
Read More »Russia will Respond to Oil Price Caps by Shipping more to Asia
Russia will respond to price caps on Russian oil by shipping more supply to Asia, its energy minister Nikolai Shulginov told reporters at the Eastern Economic Forum in Vladivostok on Tuesday. “Any actions to impose a price cap will lead to deficit on (initiating countries’) own markets and will increase …
Read More »Global Energy Crisis Spurs a Revival of Nuclear Power in Asia
Asia is giving the once-shunned nuclear power industry a second lease on life, thanks to the global energy crisis. Governments in Japan and South Korea are removing anti-nuclear policies, while China and India are looking to build more reactors to avoid future supply shortages and curb emissions. Even developing nations …
Read More »Asia Gas Prices Jump after Russia Pipeline Maintenance Sends Europe to Record
Asian liquefied natural gas prices extended gains as concern mounts that Russia’s announcement of maintenance on a key pipeline to Europe will further tighten global supplies. Producers offered LNG spot cargoes for winter above $60 per million British thermal units on Monday, traders said. The Japan-Korea Marker spot benchmark slipped …
Read More »Asia Gobbles up Cheap U.S. Crude at OPEC’s Expense
Asian buyers have bought a substantial amount of cheap U.S. crude on the spot market, suggesting that demand for Middle Eastern grades will be lower in the immediate future, Bloomberg reports, citing traders. According to them, South Korean and Indian refiners had bought some 16 million barrels of U.S. crude …
Read More »Asian Buyers Binge on Cheap US Crude in Threat to Middle East
Asian buyers have snapped up a huge volume of cheap US oil early in the latest trading cycle for spot physical barrels, raising the prospect of reduced demand for Middle Eastern crude. South Korean and Indian oil refiners have so far purchased around 16-to-18 million barrels of US crude this …
Read More »Saudi Arabia to Raise Oil Prices for Asian and US Customers in September
Saudi Arabia will raise the price of exported oil for buyers from the US and Asian countries in September, Dow Jones reported citing a press release from state company Saudi Aramco. The price of Arab Light, the main grade supplied to Asia, will increase by $0.5 a barrel. As a …
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