Before dawn on September 11, a cargo ship loading 4 hundred thousand barrels of American gas condensate will arrive at Port of YOSU in Jeollanam-do, Korea. Korean oil industry is very concerned about that. It is the first time for 41 years that Korea imports oil from the U.S. Korea may get rid of excessive dependence on Middle East gradually. When Arabic countries adopted oil embargo to the U.S. in 1973, the U.S. is always strictly restricting oil export for ensuring steady energy supply...
Korea Imported Oil from The U.S. Read
More »
Moscow is seeking for prevent EU from exporting Russian gas to Ukraine. It threatens to cut off all of lifelines of Kiev which may intensify Ukrainian energy crisis in this winter. When Moscow gives out threat, officials of EU are preparing new sanctions on Rosneft, Gazprom Neft and Transneft, which will limit the capacity of those corporations entering into the Western financial market. However, if the cease-fire agreement signed between Kiev and separatist...
Russia Preventing EU from Exporting Russian Gas to Ukraine Read
More »
On Tuesday, Slovakia announced to launch a pipe to supply gas to Ukraine from EU. It is an important step that EU provides support to Ukraine for the upgrading disputes with Russia. Reverse gas supply means that EU will supply gas to the eastern of Europe, as one of the responses for Gazprom cutting of gas supply to Ukraine on June 16. Arseny Yatsenyiuk, the Prime Minister of Ukraine says that the pipe will meet 20% of Ukrainian gas demands. Meanwhile it also shows that further unity...
Slovakia Launched a Pipe to Supply Gas to Ukraine Read
More »
This year, LNG market has already entered into cold winter. The whole industry is depressed, needing all of efforts to rescue market together. LNG market in China has overcapacity. It is known that Chinese LNG market is entering into a pathologic cycle gradually since 2013. Explosive growth of capacity in upstream and gradually slowing of demands in downstream, have caused overcapacity in the whole market. In 2013, the situation did not be remitted and even become the main background of Chinese...
LNG Market in China Has Overcapacity Read
More »
On Monday (August 25), for tense relationship between Russia and Ukraine, Maria Van der Hoeven, the Chief Executive of IEA claimed that EU still has high dependence on Russian gas in the short term and it needs more time to realize the diversification of energy supply. Van der Hoeven pointed out that EU is lack of diversified leeway. In the foreseeable future, the gas from Russia is still indispensable for most of European countries. Nowadays, one third of gas consumption in EU comes from...
IEA: EU Has High Dependence on Russian Gas Read
More »
It is reported that the deal between Rosneft and Vitol, the oil trader which is worth for 2 billion dollars has already fizzled out. It is the new indication that the upgrading sanctions by the Western are hindering the Russian state-owned oil corporation to realize its ambition. Before, Vitol, the largest global independent oil trader has always been negotiating in order to raise 2 billion dollars from the American and European bank, using as advance payment for Russian to get oil supply...
Deal Between Rosneft and Vitol Fizzled Out Read
More »
Energy Aspects, a consulting company in London claims that the substantial decline of oil demands is a leading indicator that global economic growth slows down. The new GDP published by Europe and Japan also proves that. For the weak demands of European and Asian oil refineries and the falling risks of geopolitics felt by market, as the standard of global oil price, Brent oil price has fallen by 12% compared with the highest level in the mid of June. Energy Aspects shows that it is still...
Oil Demands Decline Indicates Global Economic Growth Slow Read
More »
It is reported that recently, Jonathan, Nigerian President appealed to increasing gas supply, because insufficient gas has already raised the costs of manufacturers and threatened the policy that the government controls prices. In Nigeria, gas is main fuel used to generate electricity by most of enterprises. On last Friday, Dangote Cement plc the largest enterprise in Nigeria and also the largest cement manufacturer in Africa stated that the corporation had to use heavy oil for power generation...
Nigerian President Appealed to Increasing Gas Supply Read
More »
For the deteriorating relationship with the Western deteriorating, Russian energy industry is treating Asia as its new axis of business. Russian oil export to the region has already reached a new high level in history. Many analysts also predict that Russia will promote part of Asian energy enterprises largely. Trading figures and estimation of analysts show that 30% of total volume of Russian oil export enters into Asian market since 2014. Proportion which exceeds 1.2 million barrels per...
Russian Oil Export to Asia Reaching a New High Level Read
More »
Event: PCV EXPO 2014 (The 13th Russian International Pumps, Valves, Compressors, Actuators and Accessories Exhibition) Date: October 28-30, 2014 Venue: Crooks Exhibition Centre, Moscow, Russia PCV EXPO 2014 (The 13th Russian International Pumps, Valves, Compressors, Actuators and Accessories Exhibition) is sponsored jointly by Moscow MVK International Exhibition Corporation, Russian Pump Manufacturer Association and other related professional associations, supported by the Russian Ministry...
PCV EXPO 2014, Russia, October 28-30 Read
More »
