Asian spot prices for liquefied natural gas (LNG) continued their downward spiral this week, hitting a 17-month low as the market moved further away from the peak winter demand period and inventories remained high in the region.
Asia’s oil refiners are increasingly finding themselves trapped between the rock of OPEC’s production cuts and the hard place of U.S. President Donald Trump’s sanctions against Iran and Venezuela.
Abu Dhabi National Oil Company (ADNOC) is seeking to invest in more downstream assets, mainly in refining and petrochemicals, in strategic locations like India to find a stable outlet for its oil, said its chief executive officer, Sultan Ahmed Al Jaber.
Iranian crude oil imports by Asia’s top four buyers dropped to the lowest volume in three years in 2018 amid US sanctions on Tehran, but China and India stepped up imports in December after getting waivers from Washington.
The spot price of liquefied natural gas (LNG) in Asia has completely missed its usual winter peak, with much of the blame being laid at the door of milder-than-usual temperatures trimming demand.
Asian spot prices for liquefied natural gas (LNG) slid to an eight-month low this week amid milder winter weather, which has curbed prompt demand growth in the region.
In a possible tweak to its strategy, Tata Steel may retain up to 30 percent of its shareholding in its South East Asian units, which had been put on the block.
U.S. crude oil exports to Asia are set to rise in the second quarter as sellers cut prices following sharp drops in freight rates and expected weaker demand in the United States, trading and shipping sources said.
Imports of Iranian crude oil by major buyers in Asia hit their lowest in more than five years in November as U.S. sanctions on Iran’s oil exports took effect last month, government and ship-tracking data showed.
Asian spot prices for liquefied natural gas (LNG) slipped this week amid thin trade, though monthly deliveries into Northeast Asia climbed to a record in December as colder-than-normal temperatures are expected this week.