Subscribe to our free daily newsletters
  Energy News  




Subscribe to our free daily newsletters



ENERGY NEWS
Energy-hungry Asia slowing down, lender says
by Daniel J. Graeber
Manila (UPI) Dec 13, 2016


disclaimer: image is for illustration purposes only

Growth for energy-hungry Asian economies is starting to level off as a slowdown in India drags on regional momentum, a regional lender said.

The Asian Development Bank trimmed its outlook for full-year 2016 from 5.7 percent to 5.6 percent for all of Asia. The forecast for 2017 remains stable at 5.7 percent. The bank said a slowdown in India was behind most of the downgrade.

"India's tempered growth projection to 7 percent from the previously forecasted 7.4 percent in 2016 is due to weak investments, a slowdown in the country's agriculture sector, and the lack of available cash due to the government's decision to ban high-denomination banknotes," the ADB said in report.

According to the economists working for the Organization of Petroleum Exporting Countries, India faces additional downside risks because of economic pressures at some of its key trading partners. Nevertheless, demand for oil from India is expected to increase modestly. OPEC said it expects India to take an average 4.3 million barrels per day this year and 4.5 million bpd in 2017.

India is short on paper money following a Nov. 9 ban on large-denomination notes.

The ADB said it expected the Chinese economy would grow at a rate of 6.6 percent this year, strong, but slower than in previous years. The regional lender said it expected the Chinese economy would slow to 6.4 percent next year, a forecast unchanged from its previous estimate.

OPEC said it expects China to take in an average 11.2 million bpd this year and 11.5 million bpd in 2017.

Juzhong Zhuang, a chief economist at the ADB, said the region in general was expected to remain robust when compared with peer economies.

"Asian economies continue their robust expansion in the face of global economic uncertainties," he said in a statement.

A report from the International Agency this week said that regional demand growth should translate into a greater appetite for cheaper coal. According to a mid-term report for coal, the IEA said the share of coal as a power source should drop from 41 percent in 2014 to 36 percent by 2021.

Coal demand, however, shifts to Asia as emerging economies with growing populations need affordable sources of energy.


Comment on this article using your Disqus, Facebook, Google or Twitter login.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.

SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only

.


Related Links







Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
ENERGY NEWS
China's Shanghai Electric to invest $9bn in Pakistan upgrades
Karachi (AFP) Dec 8, 2016
China's Shanghai Electric plans to spend $9 billion overhauling electricity infrastructure in Karachi, a minister told AFP, just months after the multinational revealed it was buying a Pakistan power company. China is ramping up investment in its South Asian neighbour as part of a $46 billion project unveiled last year that will link its far-western Xinjiang region to Pakistan's Gwadar port ... read more


ENERGY NEWS
US push to low-carbon future 'unstoppable': Biden

Energy-hungry Asia slowing down, lender says

China's Shanghai Electric to invest $9bn in Pakistan upgrades

China power plant collapse kills at least 22: Xinhua

ENERGY NEWS
Alternative fuel cell technology reduces cost

Engineers build refrigerator powered by sound waves

Energy innovation is focus of Gates-led $1 billion fund

The promise of greener power generation

ENERGY NEWS
Apple invests in China wind farms

Offshore wind makes U.S. debut

German energy company plants wind farm seed in Texas

New York to bid in Federal Offshore Wind Auction

ENERGY NEWS
New York funds low income access to solar power

Coronal Energy, powered by Panasonic, Announces Solar Acquisition Program

Game changer for organic solar cells

Simple processing technique could cut cost of organic PV and wearable electronics

ENERGY NEWS
Bulgaria seeks investor to revive nuclear project

Japan switches on nuclear reactor after safety shutdown

Fukushima costs to double to nearly $180 bn: report

'Diamond-age' of power generation as nuclear batteries developed

ENERGY NEWS
People willing to pay more for new biofuels

Investing in the 'bioeconomy' could create jobs and reduce carbon emissions

Argonne researchers study how reflectivity of biofuel crops impacts climate

UNIST researchers turn waste gas into road-ready diesel fuel

ENERGY NEWS
Chinese missile giant seeks 20% of a satellite market

China-made satellites in high demand

Space exploration plans unveiled

China launches 4th data relay satellite

ENERGY NEWS
DiCaprio, Trump discuss green job creation

China: Economic development tied to climate goals

Gore meeting latest sign Trump softening on climate?

World cities seek $375 bn to fight climate change




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News






The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement