07282016Thu
Last update: Thu, 28 Jul 2016 05pm

Asia

Markets - Energy - Asia

China plans energy-sector technology capacity boost over next decade BEIJING: China wants to boost its domestic capacity to produce cutting-edge energy technologies in the next decade to challenge international energy majors in areas like offshore oil and gas exploration and building state-of-the-art thermal power plants. China lags behind competitors like Anglo-American oil majors or Japanese and German power turbine makers in the most advanced technologies for deepwater oil and gas production and the most efficient electric generation. But, as the world's biggest energy consumer, the country yearns to be at the forefront of these technologies to meet internal energy needs and to shift its export economy from less high-tech industries.A new catalogue, released this week by three ministries including the National Development and Reform Commission (NDRC), proposes increasing China's energy independence by 2025. The report also seeks export opportunities in technical areas such as deepwater drilling for oil and natural gas, highly efficient so-called ultra-super-critical thermal power plants, as ...

Markets - Energy - Asia

Oil prices dip ahead of British EU vote, US stockpiles SINGAPORE: Oil prices fell in Asia Tuesday, snapping two days of gains, ahead of a report on US crude inventories and the British referendum on whether to stay in the European Union.Worries that Britons will vote to leave the EU on Thursday has frayed nerves, and global investment titans Li Ka-shing and George Soros warned of economic doom if the country exits."Uncertainty around the outcome of the EU referendum is... likely to have resulted in ...

Markets - Energy - Asia

Middle East Crude-Dubai falls for 7th session; Murban's discount widens SINGAPORE: The Middle East crude market weakened further on Monday with cash Dubai down for the seventh session, while ample supplies of light grades depressed Murban's value.Cash Dubai slipped into a deeper discount of 14 cents a barrel to swaps after Chinaoil sold two August partials to Shell at $46.50, traders said.Murban stayed under pressure from a rise in Saudi light crude supplies and as Russian ESPO became cheaper. Several cargoes of the Abu Dhabi ...

Markets - Energy - Asia

Asia Naphtha/Gasoline-Naphtha and gasoline cracks weighed by supply concerns SINGAPORE: Asia's naphtha crack slipped $1.43 to $52.40 a tonne on Monday, as ample supplies weighed on market sentiment, traders said. Naphtha cracks have lost more than 60 percent of their value since their 2016 highs of $148.28 in the beginning of January, and margins remain pressured by weak fundamentals and excess supplies despite a contraction in eastbound arbitrage arrivals in recent months. About 1 million tonnes of naphtha were placed on provisional bookings for ...

Markets - Energy - Asia

Oil extends rebound on weak dollar, easing fears of Brexit SINGAPORE: Oil prices extended gains in Asia Monday thanks to a weaker US dollar and easing fears of Britain's exit from the European Union. The dollar fell for the fourth day in a row on Monday, trading lower against most major currencies, making dollar-priced oil cheaper for those using other currencies. At about 0710 GMT, US benchmark West Texas Intermediate for July delivery was up 53 cents, or 1.10 percent at $48.41 a barrel. International ...

Markets - Energy - Asia

Oil extends gains as Brexit fears ease TOKYO: Oil extended gains in Asian trading on Monday as a weaker dollar and easing worries over Britain's possible exit from the European Union helped support crude.London Brent crude for August delivery was up 34 cents at $49.51 a barrel by 0235 GMT, after settling up $1.98, or 4.2 percent, at $49.17 on Friday.NYMEX crude for July delivery, which expires on Tuesday, was up 44 cents at $48.42 a barrel, after closing up $1.77, or ...

Markets - Energy - Asia

Oil extends rebound on weak dollar, easing Brexit fears SINGAPORE: Oil prices extended gains in Asia Monday on the back of a weaker US dollar and easing fears of a UK exit from the European Union. The US dollar fell for the fourth day in a row on Monday, trading lower against most major currencies, making the dollar-priced commodity cheaper for those using other currencies and pushing up demand. At about 0245 GMT, US benchmark West Texas Intermediate for July delivery was up 44 ...