The Japanese oil industry and oil policy are undergoing a major transformation due to decreased oil demand and industry rationalization. As recently, as 1997 oil imports in Japan exceeded 5.7 Mb/d making the country the second largest oil consumer in the world. The oil industry itself was highly fragmented and comprised for former national oil […]
The new Japanese LNG Strategy published in May 2016 envisages the creation of a liquid market and an international LNG hub in Japan. This promises to radically change the traditional JCC (crude oil) based pricing system in Japan, but also potentially in the Pacific Basin as a whole. But the path to hub creation and […]
The LNG Industry has long regarded the Asian markets of Japan, South Korea, Taiwan, China and India as high growth importing markets, willing to sign long term contracts with price terms linked to crude oil prices. The rebound in Asian LNG demand in 2010, following the post-financial crisis year of 2009, re-affirmed this paradigm with […]
The earthquake and tsunami which left its toll of destruction and the tragic loss of life on Japan’s eastern seaboard on 11th March 2011 was a natural disaster of the highest order. This working paper addresses methodically and in detail the extent of the impact of the events of 11th March 2011 on Japan’s energy […]
Propelled in part by rising awareness of environmental issues, natural gas consumption is growing strongly in the Asia-Pacific region; while annual world growth averaged 2.7 per cent over the ten years from 1997 to 2007, consumption in the region soared 5.9 per cent.3 Trade in natural gas in this region revolves mainly around liquefied natural […]
Asia’s three largest gas consuming economies – Japan, Korea and Chinese Taipei – are heavily reliant for their gas supplies on Asia’s three largest gas producing economies – Brunei, Malaysia and Indonesia – as well as on Middle Eastern economies of OPEC. As a result, the potential benefits of reform in gas-importing economies are limited […]
The purposes of this paper ape to explain the economics of inventory behaviour, to describe and analyse the changes in oil inventories since the beginning of the Gulf crisis, and to discuss issues of public policies relating to stocks, In Section 2 we emphasize the different economic function petformed by inventones in times of crisis, […]
Whenever an oil crisis occurs one can be sure that calls for the replacement of oil by other sources of energy will receive renewed attention. This is, of course, whoUy admirable and should not have to wait upon crises. The present situation in the Gulf is already giving rise to equally predictable demands for more […]
OIES study on Russia’s refining system reviewed: Plans for further additions of more complex refining units have be… https://t.co/GTmB7XB5g0
April 16th
New OIES paper on Russian refining sector and fuel oil exports: From 2015, as a result of new export tax policies,… https://t.co/2OFbXIbbUX
April 15th
Russia’s heavy fuel oil exports: challenges and changing rules at home and abroad https://t.co/cDMQaw7xP9
April 15th
