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IEA says oil glut to compress oil prices

Having peaked, at a five-year high of 1.6 million barrels per day (mb/d) in 2015, global oil demand growth is forecast to ease back considerably in 2016, to 1.2 mb/d, pulled down by notable slowdowns in Europe, China and the United States, the newly released IEA Oil Market Report (OMR) for February informs subscribers. Early […]

By |February 10th, 2016|Energy News, General News, Latest News|0 Comments

Chinese LNG demand falls for the first time on record

Chinese imports of liquefied natural gas (LNG) have fallen for the first time since the trade began 10 years ago. The US Energy Information Agency has reported that LNG imports declined 1.1 per cent in 2015.

It is a further blow to Australia’s fledgling and struggling coal seam gas exporters who have spent more than $75 billion […]

By |February 8th, 2016|Energy News, General News, Latest News|0 Comments

IEA says oil market may ‘drown in oversupply’ in 2016

Exceptionally mild temperatures in the early part of the winter in Japan, Europe and the United States – alongside weak economic sentiment in China, Brazil, Russia and other commodity-dependent economies – saw global oil demand growth flip from a near five-year high in the third quarter of last year, at 2.1 million barrels per day […]

By |January 20th, 2016|Energy News, General News, Latest News|0 Comments

Indian LNG imports surpass 15m tonnes in record 2015

A total of 15.15m tonnes of LNG was delivered into Indian terminals in 2015, a 5% increase from 2014, according to ICIS data which also shows that recent renegotiations in a contract between India’s Petronet and Qatari seller RasGas may already have taken effect.

The 2015 total volume is the highest on record and continues the […]

By |January 15th, 2016|Energy News, Latest News, Local News, Shipping News|0 Comments

India: Petrogas to invest Rs3000 crore in Andhra Pradesh

Petrogas Pvt Ltd has joined hands with Krishnapatnam Port Co Ltd and the Andhra Pradesh government to set up a liquefied natural gas (LNG) regasfication and floating storage terminal at Krishnapatnam Port in Nellore district with an investment of around Rs.3,000 crore.

Petrogas is joint venture of Isomeric Holdings bhd of Malaysia and LEPL Venture Pvt […]

By |January 12th, 2016|Energy News, Latest News, Local News, Port News, Shipping News|0 Comments

GLOBAL LNG-Prices slip on weak winter demand, global glut of supplies

Asian liquefied natural gas (LNG) prices fell further this week amid a global supply glut, extending 2015’s trend, despite pockets of fresh demand from China and Argentina.

The price of Asian spot cargoes for February delivery was pegged at $6.50 per million British thermal units (mmBtu), down from $6.90 at the end of last year. Traders […]

By |January 11th, 2016|Energy News, General News, Latest News|0 Comments

Crude oil prices started 2015 relatively low, ended the year lower

Crude oil prices ended 2015 below $40 per barrel (b), the lowest level since early 2009. Spot prices for the international crude oil benchmark Brent averaged $52/b in 2015, 53% below the level in 2014 and 49% below the average price over 2010-14. Spot prices for West Texas Intermediate (WTI) crude oil were also down […]

By |January 8th, 2016|Energy News, General News, Latest News|0 Comments

Thank You Dear Colleagues from The Maritime Industry

Dear Colleagues,

We wish you Season’s Greetings and Happy New Year!

We are pleased to inform you that with your constant support and feedback, we have been able to reach all sectors of maritime industry, across all geographical boundaries. Your favorite news portal  has, on a monthly average basis,  received 3.6 million clicks.

Our Maritime Conferences have […]

India: LNG to replace diesel for inland navigation

Seeking to reduce India’s carbon footprints, the Centre has decided to switch over from diesel to relatively less polluting Liquefied Natural Gas (LNG) as a fuel for vessels in the inland navigation system. The proposed new fleet of 80 vessels in Ganga is likely to be the first beneficiary of the move.

The idea is to […]

By |December 30th, 2015|Energy News, General News, Latest News, Local News, Shipping News|0 Comments

Marcellus, Utica provide 85% of U.S. shale gas production growth since start of 2012

The productivity of natural gas wells in the Marcellus Shale and the neighboring Utica Shale is steadily increasing because of ongoing improvements in precision and efficiency of horizontal drilling and hydraulic fracturing occurring in those regions. Since January 2012, natural gas production in the Marcellus and Utica regions has accounted for 85% of the increase […]

By |December 30th, 2015|Energy News, General News, Latest News|0 Comments