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.”
Posts Tagged ‘Japan’
By Joseph Innace | May 21, 2015 12:01 AM Comments (0)
By Takeo Kumagai | April 28, 2015 09:02 AM Comments (0)
It wasn’t the first time, and it will not be the last. Abu Dhabi struck a deal on April 27 with Japan’s Inpex, awarding a 5% stake in its giant Adco onshore oil concession for the next 40 years from January 1, 2015.
By Takeo Kumagai | February 24, 2015 12:01 AM Comments (0)
Huge inventory losses brought on by the plunge in oil prices in the second half of last year prompted Japanese refiners, desperate to eke out margins, to switch away from some of their staple heavy crude imports from the Middle East in favor of spot barrels from Russia and even far-away Mexico.
By Yen Ling Song | January 31, 2015 12:01 AM Comments (1)
By Colin Richardson | January 16, 2015 12:01 AM Comments (3)
Tata Steel’s potential sale of its long products division to American Gary Klesch has galvanized UK politicians.
In an opposition day debate in the House of Commons on January 14, Ian Wright, the shadow secretary for business, innovation and skills, said Tata’s decision to quit the longs market did not mean the UK should.
By J Robinson | January 15, 2015 12:01 AM Comments (6)
Over the last several months there has been much discussion about the impact of falling crude oil prices on the liquefied natural gas market. The conventional argument goes something like this: lower crude prices are making oil-linked LNG contracts cheaper and are putting pressure on the spot market as these contracts increasingly undercut spot prices.
At first glance, this argument appears quite compelling. On January 14, 2015, the price of Platts-assessed Dated Brent was $45.73/b. For buyers using 14.5% slope to crude, not uncommon in the Asia-Pacific market, that would equate to an LNG price of just $6.63/MMBtu. By comparison, the Platts JKM price (a spot index for the Asian LNG market) was assessed significantly higher at $9.38/MMBtu on the same day.
By Takeo Kumagai | November 25, 2014 12:01 AM Comments (0)
Japan’s recent deal with Abu Dhabi to lease out more crude storage capacity to the emirate under a renewal agreement is deemed mutually beneficial. Not only will it enhance Tokyo’s supply security, but it also wiill give the Middle Eastern producer greater access to the Asia-Pacific market.
Under the agreement, similar to one Japan has with Saudi Arabia, the Japanese government will pay for storage to be used by Abu Dhabi for commercial purposes, in exchange for assigning priority to supplying the crude to Japan in an emergency.
By Takeo Kumagai | November 24, 2014 12:01 AM Comments (0)
By Takeo Kumagai | September 4, 2014 06:25 AM Comments (1)
Japan and Australia are increasingly importing more oil products as a result of a series of refinery closures in their respective countries.
On the surface, the consequences of the drop in refining capacity in the two countries look similar in the short term. But fundamentally, the two nations are taking different routes for energy security.