Posts Tagged ‘Asia’

The Oil Big Five: No slowdown for oil

High summer can often be seen as a slow period, when the heat and prospect of a holiday can make it hard to work up the effort to make news. In the Northern Hemisphere, summer is in full force, and luckily for us, news is also heating up in the world of oil.

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Asia drawing better purchase terms for Mideast crude as competition intensifies

There is little doubt that additional crude oil supplies from Iran will intensify competition among Middle Eastern producers, which are already fighting to secure their share of Asia’s dynamic markets against the influx of barrels from western hemisphere suppliers that can no longer rely on the US market.

Tehran’s July 14 nuclear deal with six world powers will eventually lead to additional flows of Iranian oil onto world markets, but oil minister Bijan Zanganeh has already said the thrust of the marketing focus will be on Asia, where Iran has been able to maintain a foothold in the four key consuming countries.

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The changing dynamics of global benzene supply

Benzene is a primary aromatic and the precursor for the C6 value chain, and finds itself at crossroads in relation to the aromatics main outlet of supply. Benzene supply is traditionally dependent on gasoline production out of the refinery and as a co-product of naphtha cracking.

However, massive projections for increased polyethylene terephthalate demand in Asia led to a wave of investments in paraxylene production units and resulted in growth of benzene production as a by-product from these units. Also, with major refinery expansions in the Middle East (especially processing heavier crude, which yields more benzene) and Asia, as well as move to lighter cracking for ethylene production in the US and the Middle East, benzene supply dynamics globally have changed. Benzene is no longer just dictated by the traditional means of supply.

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The Oil Big Five: The second half begins

The beginning of July is the beginning of the second half of the year, and just over the weekend I was looking at a calendar and marveling that we’d arrived here already. We started this feature a little over a year ago, but especially within the past 12 months, the oil industry seems like it’s been taking us all on a roller-coaster ride. On July 1 of last year, for example, Dated Brent was assessed by Platts at $110.46/b, but on July 1 of 2015 it was assessed at $61.67/b. Today, we’re attempting to pull out some highlights from the most recent part of that wild ride.

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Viewing global LNG from the House at Pooh Corner, where Eeyore lives

Ross McCracken, managing editor of Energy Economist, shares what the world of LNG would look like to an unabashed pessimist . . . or maybe just to someone who eyes the massive production boom on the horizon with some concern.

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Spot the difference: Why molybdenum prices cut a different figure in 2015

Since the start of 2015, molybdenum has moved in a very narrow range, we’ve seen prices tend to pick up around the third week of the month and then come back down again – but what changed this year to create this new pattern?

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A tale of two crudes: Nigeria and Angola

Nigeria and Angola,  both situated on the west side of Africa, are two of biggest producers in the region, but the crudes from these two countries have treaded divergent paths in the past year, despite a lot of similarities.

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Just a second … hold that trading timestamp, please

The world’s next ‘leap second’ event will occur on June 30, 2015 — and, for the first time ever, according to the Futures Industry Association (FIA), it will happen “during active trading hours in an environment where electronic and automated trading relies on sub-second precision for communication, execution, clearing, surveillance and audit trails.”

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The Oil Big Five: Taking stock at the end of Q1

There are a couple months of the year that seem busier than others, and April is one in the oil industry. The first quarter has ended, and many of the editors here at Platts are readying themselves for the slew of earnings calls and reports that will be coming soon. Those quarterly updates can sometimes signal big changes – announcements about new projects, financial doings, production figures, etc. – and we wanted to assess the global oil industry now, in the calm before the storm.

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Coal may burn bright, but which Asian market has the lights left on?

If you are a coal producer focused on the Chinese market, I am sure you will be scratching your head thinking about the future. Ever since China started imposing restrictions on imports, suppliers have gone on a wild hunt for buyers.

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