Category: Asia

Japan uses climate cash for coal plants in India, Bangladesh

Despite mounting protests, Japan continues to finance the building of coal-fired power plants with money earmarked for fighting climate change, with two new projects underway in India and Bangladesh.  More »

Asia readies for Iran oil bargains on potential nuclear deal

As world leaders seek an accord on Iran’s nuclear program, at least six Asian refiners including are anticipating more supply from the Middle East producer if sanctions are lifted.  More »

China indicts former oil boss on corruption charges

Jiang Jiemin was charged with abusing his position at China National Petroleum Corp. and taking bribes, which led to large losses of public money, the national prosecutor’s office said in a statement.  More »

IEA sees China, India filling strategic reserves with cheap oil

The two nations are building emergency stockpiles with millions of barrels of crude that mirror the reserves of oil and refined products that the U.S. and its western allies amassed after the first oil crisis of 1973 to 1974.  More »

Petronas prepares $7 billion bond as borrowing costs soar on oil

Petronas is issuing into Asia’s worst dollar-bond market this year amid a global slump in oil prices and debt concerns surrounding a Malaysia-backed investment firm.  More »

Philippines suspends oil, gas exploration in disputed waters with China

Oil and gas exploration company Forum Energy Plc. said the Department of Energy instructed it to halt all work in its contracted area at Reed Bank in the South China Sea off the western Philippine province of Palawan.  More »

Petronas turns to $2.7 billion fourth-quarter loss on oil slump

Petronas won’t generate enough cash from operations this year to cover capital spending and dividend commitments, said Vikas Halan, a Singapore-based vice president at Moody’s Investors Service Inc., estimating the shortfall to be at least 10 billion ringgit.  More »

India: 7 arrested for stealing, leaking energy documents

The men were caught leaving the ministry building Tuesday after authorities acted on a tip that some individuals were stealing and leaking documents from the ministry.  More »

China considering merging state-owned oil companies

The country’s leaders have asked government economic advisers to study the possible mergers, the Wall Street Journal said, citing unidentified officials familiar with the research.  More »

China finds sizable natural gas field in South China Sea

The Lingshui 17-2 gas field was discovered 150 kilometers south of China’s southernmost island of Hainan, and the Ministry of Land and Resources has approved it as a large-scale find.  More »

Venezuela’s Asia tour backfires as crude extends slump

Venezuelan government lobbying to prop up prices is falling on deaf ears among other OPEC members that are prepared to let prices fall to a level that undermines a U.S. shale boom.  More »

Record oil tankers seen sailing to China amid stockpiling signs

There are 83 very large crude carriers bound for Chinese ports, according to shipping signals from IHS Maritime.  More »

Why Texas is now home to bargain-hunting Japan oil buyers

Their move into Houston illustrates the challenge for OPEC as the highest American output in more than three decades lures the group’s traditional customers and benchmark prices tumble.  More »

Exxon: North America to be energy exporter by 2020

The company’s forecast outlined an about 35 percent growth in energy demand across the world through 2040, driven mostly by a growing population and the rise of an energy-hungry middle class in developing countries.  More »

Global gasoline prices don’t look the same as in the U.S.

Weak global demand and a flood of cheap oil from North American producers are sending the price of gasoline plummeting, but the savings won’t look the same around the globe as they do in the U.S.  More »
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