Posts Tagged ‘Al Troner’
As a New Year begins with renewed hopes, aspirations and indeed fears, competition seems focusing on Asia China to be specific. Voices in the US, clamoring to diversify away from the energy rich Gulf as far as possible, for their energy needs, have been gaining strength in recent months and years. And with Europe too endeavoring, one way or the other, to look for sources other than Russia, a battle to grab optimal share of the growing Chinese pie seems intensifying. As geo-political considerations continue to play the usual big role in the selection of energy supplier(s), Moscow seems focused on developing infrastructure that could provide it long-term customers and security. What more can a supplier ask for?
Russia is already a major player. It has played its cards rather deftly in recent years. At times it tends to play to both the tunes cooperation and competition with the OPEC (Organization of the Petroleum Exporting Countries).
TOKYO/SINGAPORE: Russias ESPO blend crude is just starting to hit the market, but as output ramps up it is expected to change the rules of the oil game in Asia at the expense of Middle East rivals.
Exports of the diesel-rich, medium-heavy sweet grade could rise to 600,000 barrels per day (bpd) in the next few years from 250,000 bpd in the first quarter, targeting refineries in China, Japan and South Korea, traders and analysts say.