Taiwan Oil and Gas Report - Business Monitor International - Industry Reports

Taiwan Oil and Gas Report

Taiwan Oil and Gas Report - Business Monitor International - Industry Reports
Taiwan Oil and Gas Report
Published Sep 24, 2016
70 pages — Published Sep 24, 2016
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Abstract:

Taiwan has no major reserves of hydrocarbons; moreover, these modest reserves are set for a continuous decline over the coming decade, despite Taiwan s efforts to promote exploration. � Although initially slated for a start-up in mid-----, state-owned CPC Corporation has brought forward plans to instead target completion of upgrades at Dalin refinery by the end of ----. ...Taiwan has no major reserves of hydrocarbons; moreover, these modest reserves are set for a continuous decline over the coming decade, despite Taiwan s efforts to promote exploration. � Although initially slated for a start-up in mid-----, state-owned CPC Corporation has brought forward plans to instead target completion of upgrades at Dalin refinery by the end of ----. This will moderate the refining capacity reduction after the closure of Kaohsiung facility in January ----. ...� We keep our previous forecast and project Taiwan s LNG imports to increase by --.- from --.-bcm in ---- to --.-bcm in ----. Rising import volumes are expected to trigger the construction of new LNG import facilities.

...� Business Monitor International Ltd Page - and gas resources both domestically and overseas. From ---- to August ----, the government subsidised -- oil and gas development projects at a cost of TWD-.-bn (USD--.-mn). ...Between August ---- and December ----, there were only ten additional projects that required subsidy. The government has allotted a budget of approximately TWD--mn (USD-.--mn) per month towards exploration near Itu Aba island (Taiping Island), the largest island in the disputed and potentially oil rich Spratly chain in the South China Sea. CPC reportedly explored its first survey in -- years in the area in ----, according to a Taiwanese legislator. However, while Taiwan is the administrator of the island this may spark new tensions with other South China Sea territorial claimants, particularly China. At the time of writing, there were no reports of ongoing exploration in the area by Taiwan.

...The US Energy Information Administration (EIA) estimates it only has -.-mn bbl of oil and -.-bcm of natural gas as of ----. ...Its exploration and development projects include: For onshore exploration, CPC completed -D seismic surveys of nearly --sq km and geological surveys covering --sq km and repaired four wells. For offshore exploration, CPC decided to suspend the development of the F Structure oil and gas field offshore Kaohsiung upon indications that the projected return on investment would fall short of expectations. Since December ----, CPC is cooperating with Husky Energy of Canada to explore the deep-water blocks in the Tainan Basin, off the south-western coast for which two-dimensional seismic survey data covering -,---sq km has been obtained. ...

  
Source:
Document ID
1748-4286
Country
Industry
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "Taiwan Oil and Gas Report" Sep 24, 2016. Alacra Store. Dec 02, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Taiwan-Oil-and-Gas-Report-2026-102>
  
APA:
Business Monitor International - Industry Reports. (2016). Taiwan Oil and Gas Report Sep 24, 2016. New York, NY: Alacra Store. Retrieved Dec 02, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Taiwan-Oil-and-Gas-Report-2026-102>
  
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