Energy Update
Consumers worldwide are witness to the fluctuations in the fuel prices recently and the Middle East is no exception. Why do fuel prices rise and fall so frequently in a region with such huge oil reserves? In the long term, the greatest single factor influencing fuel prices is the cost of crude oil. However, supply, demand and competition can have a significant impact on fuel prices in the short-term.
Chemical company LyondellBasell is planning to expand tri-ethylene glycol (TEG) production capacity at its existing Bayport Underwood plant in Pasadena, Texas, with a new unit.
Rabigh Refining and Petrochemical Company (Petro Rabigh) has amended its existing agreement with Rabigh Arabian Water and Electricity Company (RAWEC) to procure additional power, steam and distilled water for its proposed $7bn (SAR30bn) expansion in Saudi Arabia.
Indonesian gas projects face delays because their operators do not know if their production-sharing contracts are to be extended: only this month did Total learn the fate of its contract to produce gas from the Mahakam field.
The coal industry has failed to recognize the structural shift in power generation driven by regulation rather than price.
(Wed, 25 Mar 2015) Based on financial statements from selected international oil and natural gas companies, spending on upstream investments was 12% lower in fourth-quarter 2014 compared to the same period in 2013. Upstream spending on exploration and development typically accounts for the bulk of these companies' investment expenditures.
(Wed, 25 Mar 2015) The Annual Energy Outlook Retrospective Review provides a yearly comparison between realized energy outcomes and the Reference case projections included in previous Annual Energy Outlook (AEO) beginning with 1994. This edition of the report adds the AEO 2014 projections and updates the historical data to incorporate the latest data revisions.
SYDNEY, March 25 (Reuters) - Australia will decide within weeks whether to follow the United States and Europe by imposing tariffs on solar panels imported from China, after Australia's only manufacturer accused Chinese rivals of selling below cost to steal its customers.
NEW YORK, March 24 (Reuters) - A U.S.
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