China’s state-owned power company China Energy Investment Corporation has begun operations in Asia’s largest coal-linked carbon capture, utilisation, and storage (CCUS) facility, global newswire Reuters wrote in a report citing the Chinese media outlet CCTV. According to the report, the facility, which is connected to the company’s Taizhou thermal coal power plant in Jiangsu Province […]
Asia
Posted inNews
QatarEnergy, Bangladesh to sign 15-year LNG deal
QatarEnergy will sign a long-term LNG supply deal with Bangladesh’s state-owned gas company Petrobangla on Thursday, Reuters reported. This marks the second Asian sales deal to be sealed for Qatar’s North Field expansion project. The 15-year agreement is for the supply of 2 million tonnes annually, Petrobangla’s Chairman Zanendra Nath Sarker told Reuters. Supplies are […]
Posted inDownstream
Aramco to supply full crude contract volumes to Asia refiners in MarchÂ
Saudi Aramco has told at least four customers in North Asia they will receive full contract volumes of crude oil in March, Reuters reported on Friday, citing several sources with knowledge of the matter. Saudi Arabia, the world’s top oil exporter, unexpectedly raised the official selling prices for its flagship Arab Light in March amid […]
Posted inEnergy Transition
LNG price rally spurs oil switch in Asia, boosting demand by 400,000 bpd
While Europe is limited by carbon regulations and operational constraints, Asia can burn oil in power plants with more flexibility
The recent rally in LNG prices in Europe and Asia has dramatically widened the economic incentive to switch from natural gas to oil in power generation. Steep carbon regulations and operational constraints limit Europe’s ability to burn oil in power plants, but Asia has more flexibility. If the gap between LNG and oil prices remains […]
Posted inExploration & Production
Oil up on supply tightness as demand set to rise
Oil prices rose again today, with Brent exceeding $80 per barrel, as tight global supply faces growing demand, with some gas to oil switching expected in Asia
Brent prices climbing above $80 per barrel for the first time since the pandemic started is a significant market event and highlights how the balance has changed dramatically, from global demand destruction and negative prices to supply tightness as demand returns. It is only now that the market is feeling the supply damage the Covid-19 […]