Global LNG supplies are ‘sold out’ for years, top importer Japan warns
Japan warns that global competition for liquefied natural gas (LNG) is set to intensify over the next three years due to an underinvestment in supply.
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Bangladesh seeks contractor to build first onshore LNG terminal
The government of Bangladesh has shortlisted eight potential global companies, including ExxonMobil and TotalEnergies, as well as various Japanese players, to build the South Asian nation’s first onshore liquefied natural gas (LNG) import terminal. Significantly, the proposed 7.5 million tonne per year (t/y) LNG processing facility would double Bangladesh’s import capacity.
Singapore eyes building liquefied hydrogen import infrastructure
Singapore’s Keppel Corporation has tied up with four industry partners to jointly explore the development of supply infrastructure to bring liquefied hydrogen (LH2) into the Southeast Asia city state to power Keppel's data centres.
Libya’s largest oil port may be able to ship next week
Libya’s largest oil export terminal may re-open as early as next week in a move that would provide relief for the cash-strapped country holding Africa’s largest crude reserves.
Africa needs to face reality of low commodity prices, IMF warns
African commodity exporters risk a “disorderly” hit to their economies if they don’t adapt to the reality of low prices, said a senior official at the International Monetary Fund.
Iran adopts oil contract as glut no barrier to boost output
Iran approved a new oil contract model, taking the OPEC nation a step closer to welcoming foreign investment in its energy industry and boosting production even more into an oversupplied market.
Russia and Saudi Arabia in race for Chinese business
Russia and Saudi Arabia are going head-to-head in a bid to lock-down the Chinese import market.
Oil bulls beware because China’s almost done amassing crude
One of the pillars of oil’s recovery from the lowest price in 12 years may be on the verge of crumbling.
Pakistan nets biggest LNG contract in first quarter of 2016
GlobalData said the biggest Liquefied Natural Gas (LNG) contract among all importing countries in the world was signed by Pakistan in the first quarter of 2016.
Oil resumes drop as Iran loads Europe cargo, China imports fall
Oil resumed its decline below $30 a barrel as Iran loaded its first cargo to Europe since international sanctions ended and Chinese crude imports dropped from a record.
IEA chief calls for greater partnership with China
The new head of the International Energy Agency (IEA) said there needed to be greater partnership between the organisation and China. Fatih Birol made the comments on his first visit to the world's largest energy consumer. Birol, who took up his new post earlier this month, told an audience of Chinese officials and foreign diplomats in Beijing that one of his top priorities in the role will be to strengthen ties with the company.
China crude oil imports rise to record high
China’s crude oil imports rose to record on a monthly basis driven by imports by small, private refineries amid low oil prices. Overseas purchases by China increased to 30.71 million metric tons in July, equivalent to about 7.3 million barrels a day, according to preliminary data released by the Beijing-based General Administration of Customs on Saturday. It was higher than December’s level at 30.4 million tons, a previous monthly record. The world’s second-largest oil consumer imported a record 7.4 million barrels a day in April and 7.2 million in June.