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Last update: Mon, 23 Jan 2017 05pm

Asia

Markets - Energy - Asia

Kazakhstan's Karachaganak oilfield hits record output in 2014 ALMATY: Output of liquid hydrocarbons from Kazakhstan's Karachaganak oil and gas condensate field rose 4.8 percent to a record 142.5 million barrels in 2014, the operating consortium led by BG and Eni said on Wednesday.Karachaganak contains 1.2 billion tonnes of oil and gas condensate and over 1.35 trillion cubic metres of gas, making it one of the world's largest oil and gas deposits.BG and Eni each hold 29.25 percent stakes in the consortium, Chevron owns 18 percent, Russia's Lukoil has around 13.5 percent and Kazakh state oil and gas company KazMunaiGas holds 10 percent.Copyright Reuters, 2015 ...

Markets - Energy - Asia

Indonesia expects gas demand to more than double over next 5 years JAKARTA: Indonesia will need an additional 3,100 million standard cubic feet per day (mmscfd) of gas supplies within five years, to meet forecast demand from power stations and fertilizer plants, an energy ministry official said on Wednesday.Indonesia plans to build 13,400 MW of gas-fired power stations by 2020, which will require 1,100 mmscfd of gas, Wiratmadja Puja, acting director general of oil and gas, told reporters, adding that power generation now requires around 1,250 mmscfd.Southeast ...

Markets - Energy - Asia

South Korea's commercial oil storage facility fully leased SEOUL: South Korea's energy ministry said on Tuesday the country's 8.2 million barrels of commercial oil storage facility has been fully leased, although actual storage is below 40 percent as of last month.Oil traders are scrambling to secure leases to stockpile deeply discounted prompt crude, with the hope of selling them at higher prices later thanks to a market structure known as contango.Demand on the storage facility located in the city of Yeosu, over 300 ...

Markets - Energy - Asia

Brent crude up $1 to over $60.50 as global markets firm SINGAPORE: Brent crude oil prices raised more than a dollar to above $60.50 a barrel on Tuesday, tracking firmer Asian markets, but analysts warned the market remained oversupplied.Most Asian stock markets edged up on Tuesday, bolstered by a record day on Wall Street, while a resurgent yen helped knock the US dollar index off an 11-year high, making commodity priced in the greenback slightly cheaper for holders of other currencies.Data showing China's January crude oil ...

Markets - Energy - Asia

Oil prices rise in Asian trade SINGAPORE: Oil prices rose in Asia Tuesday but gains were capped as dealers sat on the sidelines eyeing negotiations aimed at ending a strike at some US crude refineries, analysts said. US benchmark West Texas Intermediate rose 36 cents to $49.95 while Brent crude gained 89 cents to $60.43 in afternoon trade. Talks to settle a strike by workers at three major US refineries operated by Royal Dutch Shell are set to restart Wednesday following ...

Markets - Energy - Asia

Oil prices rise in Asian trade SINGAPORE: Oil prices rose in Asia on Tuesday but gains were capped as dealers sat on the sidelines eyeing negotiations aimed at ending a strike at some US crude refineries, analysts said. US benchmark West Texas Intermediate rose 32 cents to $49.91 while Brent crude gained 77 cents to $60.31 in mid-day trade. Talks to settle a strike by workers at three major US refineries operated by Royal Dutch Shell are set to restart Wednesday ...

Markets - Energy - Asia

China's deep-sea oil rig drilling off Myanmar BEIJING: China's flagship deep-sea oil rig Haiyang Shiyou No.981 is drilling offshore Myanmar in the Andaman Sea, tackling the deepest exploration well it has undertaken so far, according to a report by the rig's owner, state energy group CNOOC.The $1-billion, semi-submersible giant drilling rig started drilling on February 7 in a water depth of 1,721 metres, in its first overseas deep-sea exploration well.The same drilling rig had previously drilled in waters claimed by both China ...