Monday July 31, 2006

ASEAN holds energy talks amid soaring oil prices

peakoil.com -> antara.co.id :

ASEAN energy ministers gathered in Vientiane, Laos to address energy concerns as oil prices continued to rise on the back of escalating tensions in the Middle East and soaring global demand. The 10-member Association of Southeast Asian Nations (ASEAN), which controls 40% of oil and natural gas resources in the Asia-Pacific region, will discuss oil stockpiling, renewable power and regional energy cooperation. The ASEAN ministers will also discuss the negative impact of rising oil prices on the region's economy, which has a market of 500 million people.

To cope with sudden oil supply disruption, Joon Beom-Lee, head of research at South Korea's state-run Korea National Oil Corporation, said oil stockpiling is the most effective countermeasure. South Korea currently runs nine oil stockpiling facilities along its coast and plans to build three more soon.

(2006-07-31 23:47:38 SGT) [Energy] Permalink

Most popular blog postings on lowem.log :

1. Singapore MRT rail network length to double by 2020
2. 2010 Nissan Leaf electric car specifications : 107hp, 24KWh lithium-ion batteries, 100-mile range
3. Live spot gold price quotes chart on COMEX
4. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
5. AVG Anti-Virus Free Edition 2011 direct download link
6. Real-time live gold and silver price quotes chart on COMEX
7. Singapore electric vehicles : Government agencies EMA and LTA to study EV introduction
8. Book review : Shut Down by William Flynn

Featured articles on lowem.log :

1. Book review : Shut Down by William Flynn
2. Singapore electric cars testing starts with 9 electric vehicles
3. Honda, GS Yuasa JV to make lithium-ion batteries for 2010/2011 Honda Civic Hybrid
4. 2010 Honda Civic Hybrid preliminary specifications released
5. 2010 Honda CR-Z hybrid, 2010 Honda Fit/Jazz hybrid models confirmed
6. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
7. NYMEX crude oil recovers from $32.40 low after 2.2 mbpd OPEC production cut announced
8. Singapore : Nuclear power not ruled out