Supplying liquefied natural gas to the growing (LNG) Asian market has become more expensive for US producers this year, Rystad Energy said in report, adding that even so, US exporters are unlikely to repeat last year’s cost-related shut-ins as global demand has rebounded to strong levels. Instead, US LNG exports climbed to a record monthly […]
Natural gas and coal prices have risen since the start of 2021, albeit with significant fluctuations in the first quarter. Prices have gone up by rebounding global economic activity, bouts of very cold weather in northeast Asia and the U.S., and several supply disruptions. Prices are expected to average around one-third higher in 2021 than […]
Top oil exporter Saudi Arabia is expected to slightly increase its July official selling prices (OSPs) of light crude for Asia, as margin weakness and demand uncertainty cap the upside despite stronger crude benchmarks, a Reuters survey showed. Sources at five Asian refiners on average expected the July OSP for Saudi flagship grade Arab Light […]
Asian container ports are the most efficient in the world, dominating the Top 50 spots according to the new global Container Port Performance Index (CPPI) launched by the World Bank and IHS Markit. The report scored ports against different metrics, making the efficiency ranking comparable around the globe by assessing and standardizing for different ship […]
The number of people facing acute food insecurity and needing urgent life and livelihood-saving assistance has hit a five-year high in 2020 in countries beset by food crises, an annual report launched today by the Global Network Against Food Crises (GNAFC) – an international alliance of the UN, the EU, governmental and non-governmental agencies working to tackle food crises […]
Global coal demand declined 4% in 2020, the biggest drop since World War II. The main driver of the decline was lower electricity demand due to Covid-19 restrictions and the resulting economic downturn, the International Energy Agency’s (IEA) annual Global Energy Review said. Overall, declines in the power sector accounted for over 40% of lower […]
Saudi Arabia has hiked its crude oil prices for Asian buyers by $0.40 per barrel and cut those for European and US buyers by $0.20 and $0.10 per barrel, respectively, Reuters has reported, noting the increase is for May cargos, from the prices for April cargos. This means the May shipments price for Arab Light—Saudi […]
After raising cooking gas prices by Rs 125 per cylinder last month, state-owned oil firms on Wednesday announced a Rs 10 per cylinder cut in LPG rates on softening international oil prices. A 14.2-kg LPG cylinder — both for subsidised and market price users — will cost Rs 809 from April 1 as against Rs […]
IndiGrid, the country’s first and the largest power sector Infrastructure Investment Trust (InvIT), has completed the acquisition of NER-II Transmission Ltd from Sterlite Power at an enterprise value of Rs 4,625 crore. NER II Transmission Limited is a project specific Special Purpose Vehicle (SPV), set up in 2015 as a wholly owned subsidiary of REC […]
Saudi Aramco, the world’s largest crude oil exporter, lowered its guidance for capital expenditures (capex) for 2021 even amid a pick-up in demand for oil and natural gas in Asia. The oil firm’s capex will be around $35 billion this year, down from previous guidance of $40 billion to $45 billion, Aramco said in a […]
