Energy Update
(Mon, 18 May 2015) In the United States, petroleum is by far the most-consumed transportation fuel. But recently the share of fuels other than petroleum for U.S. transportation has increased to its highest level since 1954, a time when the use of coal-fired steam locomotives was declining and automobile use was growing rapidly.
(Mon, 18 May 2015) The United Arab Emirates was the second largest OPEC producer of petroleum and other liquids in 2014 and maintains an ambitious production growth goal despite lower oil prices. With significant refinery expansions at Ruwais, storage additions at Fujairah and new production concessions granted in 2015, the UAE is determined to expand and anchor their status as a global energy market lynchpin.
SINGAPORE, May 18 (Reuters) - The Maritime and Port Authority of Singapore said on Monday that it has requested the Iranian maritime authorities to investigate an incident last week when Iranian vessels fired shots at a Singapore-flagged tanker in the Gulf.
HANOI, May 17 (Reuters) - Vietnam said it resolutely opposes a temporary Chinese ban on fishing in a some parts of the Gulf of Tonkin, a maritime area shared by the two countries, in the latest of a series of disputes in and around the South China Sea.
* Nkurunziza's decision to seek third term sparks crisis (Adds U.S.
KUALA LUMPUR, May 18 (Reuters) - ConocoPhillips expects to maintain capital expenditure for the next three years, after reducing it earlier this year due to the oil price drop, Chief Executive Ryan Lance told Reuters on Monday.
KUALA LUMPUR, May 18 (Reuters) - Iran hopes its crude oil exports will return to pre-sanctions levels within three months once a deal with major powers to lift an oil embargo is finalised, Iran's deputy oil minister said on Monday.
PTT Global Chemical (PTTGC) is seeking third potential partner to develop $5.7bn petrochemical complex in the US.
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