Deputy EIC, Commodities & Energy, Asia, Singapore
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Jun 5, 2012

IEA: Oil near $100 still a threat to global economy

KUALA LUMPUR, June 5 (Reuters) – Oil prices near $100 a
barrel are still a threat to a slowing global economy that is
likely to consume less fuel than the International Energy Agency
(IEA) had forecast, the IEA’s executive director said on
Tuesday.

Brent crude this week dropped to a 16-month low
below $96 a barrel before recovering to around $99, well off a
peak of more than $128 in March but not low enough to stimulate,
rather than hinder growth, Maria van der Hoeven said.

May 14, 2012

Total eyes operator role in new Australia gas, oil projects

ADELAIDE, May 14 (Reuters) – French oil firm Total
is looking for oil and unconventional gas projects in Australia
in which it could take a role as operator, the company’s chief
executive said on Monday.

Australia is on its way to becoming the world’s largest
liquefied natural gas (LNG) exporter, with around $170 billion
in projects under construction. Total already has minority
stakes in two of those projects, and is looking to expand,
Christophe de Margerie said.

May 13, 2012

Saudi says $100 per barrel great price for oil

ADELAIDE (Reuters) – Top crude exporter Saudi Arabia wants an oil price of around $100 a barrel and would like to see global inventories rise before demand picks up in the second half of the year, Oil Minister Ali al-Naimi said on Sunday.

International Brent crude settled at $112.26 on Friday, well off a peak of over $128 in March. Brent has mostly traded above $100 since early 2011, keeping fuel costs high and threatening to damage a fragile global economy.

Apr 27, 2012

Drought to cut India’s 2012/13 sugar exports

MUMBAI (Reuters) – India’s sugar exports in the 2012-13 season are likely to fall around a million tonnes on the year to 2 million tonnes as a drought hits the crop in top producing state Maharashtra and domestic consumption rises, the Indian head of ED&F Man said.

The exports, while lower than the 3 million tonnes of the 2011-12 season to end-September, would mark the third consecutive year that India has produced more sugar than it has consumed.

Apr 26, 2012

Essar Oil sees margins jump after expansion

MUMBAI (Reuters) – A major upgrading of its refinery in Gujarat by Essar Oil (ESRO.NS: Quote, Profile, Research) should boost its margins by up to $5 a barrel, its chief executive said on Thursday, adding nearly three quarters of a billion dollars to its annual revenues.

Essar has just completed a $1.6 billion overhaul and expansion at the Vadinar refinery, raising capacity to around 360,000 barrels per day from 280,000 bpd and adding units that can process cheaper, heavier crude into fuels.

Apr 26, 2012

India’s Essar Oil sees margins jump after expansion

MUMBAI, April 26 (Reuters) – A major upgrading of its
refinery in western India by refiner Essar Oil should
boost its margins by up to $5 a barrel, its chief executive said
on Thursday, adding nearly three quarters of a billion dollars
to its annual revenues.

Essar has just completed a $1.6 billion overhaul and
expansion at the Vadinar refinery, raising capacity to around
360,000 barrels per day from 280,000 bpd and adding units that
can process cheaper, heavier crude into fuels.

Apr 24, 2012

Karnataka to resume iron ore mining in July: minister

NEW DELHI (Reuters) – Iron ore production by privately owned miners in Karnataka will likely resume in July, Mines Minister Dinsha Patel said on Tuesday, after what will have been a year’s hiatus due to a government and judicial crackdown on illegal operations.

Patel said initial production from the state would go to local steel mills, but a resumption of mining means the world’s third-biggest supplier of iron ore could hope to regain its $6 billion, 100 million tonnes average annual exports, mainly to China, in 2012/13.

Apr 24, 2012

Indian state to resume iron ore mining in July-minister

NEW DELHI, April 24 (Reuters) – Iron ore production by
privately owned miners in India’s Karnataka state will likely
resume in July, the country’s mines minister said on Tuesday,
after what will have been a year’s hiatus due to a government
and judicial crackdown on illegal operations.

Dinsha Patel said initial production from the southern state
would go to local steel mills, but a resumption of mining means
the world’s third-biggest supplier of iron ore could hope to
regain its $6 billion, 100 million tonnes average annual
exports, mainly to China, in 2012/13.

Apr 23, 2012

India to produce surplus sugar in 2012-13, extend exports

NEW DELHI, April 23 (Reuters) – Top sugar consumer India is
expected to produce enough of the sweetener in the coming
2012-2013 productions season to allow exports for the third
consecutive year, the head of its sugar mill body said on
Monday.

India, the world’s second-largest producer of sugar after
Brazil, was hit by a severe drought in 2009 and had to import
about 2.5 million tonnes, sending global prices on a rally.
India returned to exports in 2010/11.

Nov 1, 2011

Analysis: Asia to reap rewards of Brazil’s crude export boost

SINGAPORE (Reuters) – Asian refiners look set to be big winners as Brazil boosts sweet crude production from its bountiful deepwater pre-salt region in the second half of the decade.

Exports from Brazil, home to four of the world’s largest oil finds in the past 10 years, will have to look for buyers in fast-growing Asia as the United States will use more of its own shale oil output toward the end of the decade, pushing West African imports back to Europe.

    • About Simon

      "I am the deputy editor for commodities and energy news in Asia. I help drive our coverage throughout the region from the Singapore C&E desk. Until mid-2010, I was the Senior Energy Correspondent in the Middle East, based in Dubai. I have also covered oil markets for Reuters in London."
      Joined Reuters:
      2004
      Languages:
      English, Spanish
      Awards:
      Reuters C&E Journalist of the Year 2009
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