Middle East Remains Only Low-cost Oil Source: New IEA Report

MarineLink.com
Sunday, November 24, 2013
Report frontispiece: Image IEA

The rising demand for cleaner and flexible energy from two emerging major economies, China and India, may keep the petrochemical market tight, although the shale gas boom in the US is disturbing energy markets around the world, considers the International Energy Agency's (IEA) 'World Energy Outlook, 2013'.

Large differences in regional energy prices are set to affect industrial competitiveness, influencing investment decisions and company strategies. The extraordinary rise of light tight oil in the United States will play a major role in meeting global demand growth over the next decade, but the Middle East –  the only large source of low-cost oil –  will remain at the centre of the longer-term oil outlook. India is set to overtake China in the 2020s as the principal source of growth in global energy demand. These are some of the key findings from the IEA in the latest edition of its recently released World Energy Outlook.

The report also examines the outlook for Brazil's energy sector and provides updates on three key areas of critical importance to energy and climate trends: (i) achieving universal energy access; (ii) developments in subsidies to fossil fuels and renewables; and (iii) the impact of energy use on climate change.
 
The report is available for download at: http://www.iea.org/publications/freepublications/publication/name,44381,en.html

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

China COSCO to be First through the Expanded Panama Canal

China COSCO Shipping has won the draw for its container vessel Andronikos to make the ceremonial first transit through the Expanded Panama Canal during the waterway’s inauguration on Sunday, June 26.

Sellick Equipment to Open New Facility

On April, 20, 2016, at the young age of 97 years, Walter Sellick along with sons Howard Sellick - President, David Sellick - Vice President and grandson Colin Sellick - Systems Manager,

Asia Tankers-VLCCs Rates Ease as Tanker Jams Fade

Port congestion eases at Basra and Chinese ports; tanker demand set to expand on lower oil prices. Freight rates for very large crude carriers (VLCCs), hurt by slower-than-usual release of cargo,

Finance

MARAD: $5 Mln Available for Marine Highway Projects

The Maritime Administration (MARAD) has announced the availability of $5 million in Federal funding to expand marine highway service by creating new or expanding

Baltic Index Down on Lower Capesize, Panamax Rates

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, slipped on Friday, as demand for capesize and panamax vessels fell.

Oil Rally is Not Just About Hedge Funds: Kemp

Oil prices are becoming dangerously overheated as speculators anticipate a rebalancing of supply and demand that has barely started, according to many oil analysts.

Energy

Russia Diesel Exports from Primorsk to Rise in May

Russia is set to export 1.256 million tonnes of ultra-low sulphur diesel from the Baltic Sea port of Primorsk in May, slightly up from 1.209 million tonnes in April, trading sources said on Friday.

Oil Rally is Not Just About Hedge Funds: Kemp

Oil prices are becoming dangerously overheated as speculators anticipate a rebalancing of supply and demand that has barely started, according to many oil analysts.

Pressure Steady on LNG Shipping Rates -Drewry

LNG shipowners will have to wait until 2018 for earnings to improve, when the majority of new US plants are expected to come online, according to the latest edition

Fuels & Lubes

Oil Rally is Not Just About Hedge Funds: Kemp

Oil prices are becoming dangerously overheated as speculators anticipate a rebalancing of supply and demand that has barely started, according to many oil analysts.

Singapore Revokes Two Bunker Licenses

Singapore's Maritime and Port Authority (MPA) have revoked two bunker suppliers' license to operate in the world's top bunker port.    The two companies have,

Norwegian Escape Equipped with Alfa Laval Systems

Norwegian Escape, the first cruise ship in Norwegian Cruise Line’s new Breakway Plus Class, was delivered in October 2015. The 164,600 GT vessel, which boasts 19 decks and 4,

News

Mercury Marine Expands Manufacturing Capacity

Mercury Marine is adding a 53,000 square foot manufacturing capacity expansion to its global headquarters in Fond du Lac, Wisc. The expansion will consist of 45,

Conquest Installs 850t Crane on Allseas Solitaire

Conquest Offshore was contracted by Allseas to remove a 300-ton crane and transport and install a 850-ton Huisman crane on board of one of the largest pipe-lay vessels in the world, Allseas Solitaire.

MARAD: $5 Mln Available for Marine Highway Projects

The Maritime Administration (MARAD) has announced the availability of $5 million in Federal funding to expand marine highway service by creating new or expanding

Offshore Energy

Subsea 7 Profits Dip in Q1

Subsea 7 S.A. announced its financial results for the first quarter ending March 31, 2016, reporting revenues of $746 million, down 37 percent from the prior year period.

Ulstein Verft's First Wind Service Vessel Launched

Shipbuilder Ulstein Verft has launched its first vessel within the renewable energy segment, and also the first with the newly-developed X-STERN hull line design.

Incat Crowther Supplies Crewboat Design, Build Kits

Incat Crowther has been awarded a contract with shipbuilder Astinave EP of Guayaquil, Ecuador for the supply of vessel design services and aluminum component kits for a pair of 22.

 
 
Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pipelines Salvage Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1598 sec (6 req/sec)