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Japan's November LNG imports rise 8.3% on year to 7.22 million mt

Japan’s November LNG imports rose 8.3% year on year to 7.22 million mt, according to data released recently by the Ministry of Finance. The imports slipped 4.3% from October. Malaysia was Japan’s top LNG supplier in November, sending 1.36 million mt, up 25.9% year on year and up 14.9% from October. Australia came in second, delivering 1.32 million mt of LNG to Japan, down 8% year on year and down 16% from October. Angola delivered its second cargo to Japan at an average price of $905.40/mt ($17.578/MMBtu). Article continues below… Request a free trial of: LNG Daily LNG Daily LNG Daily is essential reading as LNG supply dynamics continue to change in big markets like Japan, China, India and the U.S. This premier independent news publication for the global LNG industry gives readers information on every aspect of the global market from new LNG […]

Posted On : Published By : Tom Whipple
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Japan’s November LNG imports rise 8.3% on year to 7.22 million mt

Japan’s November LNG imports rose 8.3% year on year to 7.22 million mt, according to data released recently by the Ministry of Finance. The imports slipped 4.3% from October. Malaysia was Japan’s top LNG supplier in November, sending 1.36 million mt, up 25.9% year on year and up 14.9% from October. Australia came in second, delivering 1.32 million mt of LNG to Japan, down 8% year on year and down 16% from October. Angola delivered its second cargo to Japan at an average price of $905.40/mt ($17.578/MMBtu). Article continues below… Request a free trial of: LNG Daily LNG Daily LNG Daily is essential reading as LNG supply dynamics continue to change in big markets like Japan, China, India and the U.S. This premier independent news publication for the global LNG industry gives readers information on every aspect of the global market from new LNG […]

Posted On : Published By : Tom Whipple
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Rise in Russian Oil Output Supports Overstretched Budget

Russia retained the title of the world’s top oil producer with 2013 output reaching a post-Soviet high as rising exports to China and strong prices allow the Kremlin to maintain record spending from an overstretched budget. Energy has been the engine of Russia’s growth during more than a decade of leadership by President Vladimir Putin, with oil and gas accounting for more than half of budget revenues. But the government, which has amassed some of the world’s largest foreign exchange reserves of over $500 billion, has been increasingly overstretching its finances due to social spending promised by Putin before the 2012 election as well as a swelling $50 billion budget for the 2014 Winter Olympics. Keeping oil output high has therefore been a priority for the government. The rise has defied predictions that new fields in East Siberia and the Arctic will […]

Posted On : Published By : Tom Whipple
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German Power Costs Seen Dropping for Fourth Year: Energy

Power prices in Germany , Europe’s biggest electricity market, probably will weaken for a record fourth consecutive year as utilities add the most coal-fired capacity in more than a decade. The benchmark year-ahead electricity contract will average about 6 percent less in 2014 than in 2013, according to the median of nine analyst and trader estimates compiled by Bloomberg News. Expanding generating capacity will provide 17 percent more supply than peak demand, says Bryan Garnier & Co., an investment bank in Paris. Wholesale power prices in Europe’s biggest economy plunged 32 percent since 2010 amid record wind and solar output and the weakest demand in four years. The cheapest coal since 2009 is spurring utilities to keep building plants burning the fuel. EON SE (EOAN) and RWE AG (RWE) , the largest generators, will report lower profit this year, according to analyst estimates compiled by Bloomberg. “It’s a pretty […]

Posted On : Published By : Tom Whipple
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ARPA-E piloting crowdsourced energy challenge in biofuels

« Bosch sponsoring Driverless Car Experience at CES | Main Print this post ARPA-E piloting crowdsourced energy challenge in biofuels The US Department of Energy’s (DOE’s) Advanced Research Projects Agency – Energy (ARPA-E) is piloting a crowdsourced energy challenge , focused on ARPA-E’s PETRO (Plants Engineered To Replace Oil) program, which aims to increase the viability of biofuels by investing in research to double the energy-capture-per-unit area from that of corn ethanol. ( Earlier post .) The challenge asks “solvers” to present a detailed description and scientific rationale for a simple, rapid, and minimally invasive method to determine the energy content of plant material. Winners could receive up to $30,000. The goal of the PETRO program is to engineer new crops to produce fuels that can be extracted from the plant itself, in contrast to traditional research in the area that focuses on breeding larger plants. To do this […]

Posted On : Published By : Tom Whipple
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World Population, 2013 – 2050

It’s interesting to look at some long-term world trends at the end of 2013. The graphs appear more normalized, for instance with the population growth rate above. Countries like Nigeria (see population chart below) are unfortunate exceptions. How will the world really look like in 2050? Trends are extrapolations from current and past data, enhanced with some mathematical modeling. Forecasts cannot account for unforeseeable events, but they are probably pretty accurate. We’ll see in 5 or 10 years from now, looking back, how good these numbers were. World Population Growth Rate Population in the world is currently growing at a rate of around  1.14%  per year. The average population change is currently estimated at around 80 million per year. Annual growth rate reached its peak in the late 1960s, when it was at 2% and above. The rate […]

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Problems and Politics Keeping Crude Oil Production Well Below Expectations

OPEC December Crude Output Falls to 2-Year Low: Survey Venezuelan Policies Venezuelan production dropped 235,000 barrels a day to 2.45 million this month, the survey showed. The South American country pumped the least crude since October 2011. Resources have been diverted from energy sector into social welfare programs, sending production lower. Petroleos de Venezuela SA, the state oil company, was purged after a two-month oil strike intended to oust President Hugo Chavez from power in 2003. Nicolas Maduro, who became president in March when Chavez died, has continued his predecessor’s policies. “It’s hard to see how the situation in Venezuela gets any better,” said Bill O’Grady, chief market strategist at Confluence Investment Management in St. Louis, which oversees $1.4 billion. “Funds have been used to prop up the government instead of maintaining the oil industry since the PDVSA strike in 2003. It’s clear the country is on an unsustainable […]

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Brent Crude Holds Gains Above $111

Brent crude-oil prices ticked higher Thursday, holding above $111 a barrel after the European benchmark contract ended 2013 with a couple of days of losses. Trading volumes remained subdued, with many still away from their desks for the New Year holiday. Brent crude for February delivery rose 33 cents to $111.13 a barrel on ICE Futures Europe. U.S. crude-oil futures were up 37 cents, or 0.4%, at $98.79 a barrel on the New York Mercantile Exchange. Brent remains underpinned by uncertainty over supply from Libya, where exports have been restricted by civil strife, and from South Sudan, where heavy fighting between the president’s forces and rebel troops has shut down about 15% of the country’s production. Slowing momentum in factory activity in China, the world’s second-largest oil consumer, put a lid on prices. China’s official purchasing manager’s index, released Wednesday, was at 51.0, down from 51.4 in the previous […]

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Oil prices start year with rise on demand hopes

Oil prices started the new year Thursday with a gain amid hopes for stronger demand following a 7 percent surge in 2013. Benchmark oil added 28 cents to $98.70 on the New York Mercantile Exchange. Hopes for the solid demand in coming months are pegged to the signs of a recovery in the U.S., which is expected to help revive other major global economies. Brent crude, a benchmark used to price international crudes used by many U.S. refiners, added 28 cents to $111.08. In other energy futures trading: – Natural gas futures were little changed at $4.24 per thousand cubic feet. – Heating oil was also little changed at $3.07 a gallon. – Wholesale gasoline was unchanged at $2.79 a gallon. © 2014 The Associated Press . All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy […]

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WTI Oil Rises First Time in Three Days as U.S. Stockpiles Fall

West Texas Intermediate rose for the first time in three days after an industry report showed crude inventories fell in the U.S, the world’s largest oil consumer. Futures climbed as much as 0.5 percent after capping a 7.2 percent annual gain in 2013. The American Petroleum Institute reported U.S. oil supplies slid 5.67 million barrels last week. Data from the Energy Information Administration is forecast to show they decreased by 2.83 million barrels to 364.7 million, according to a Bloomberg News survey before the data is released tomorrow. An official gauge of manufacturing in China , the world’s second-biggest oil user, fell to a four-month low. “There are some people in quiet holiday trading who are thinking prices may have fallen far enough,” said Ric Spooner, a chief analysts at CMC Markets in Sydney. Prices are down 1.4 percent since Dec. 27, when they closed above $100 a barrel […]

Posted On : Published By : Tom Whipple