September 2006

Trends and Resources

HP Impact: HPImpact: Asia-Pacific product demand swings on prices, substitution

Asia-Pacific oil demand growth slowed down in 2005, particularly during the second half. Two major reasons for this noticeable change: 1) oil prices persistently stayed at the historically highest lev..

Weirauch, Wendy, Hydrocarbon Processing Staff

Asia-Pacific oil demand growth slowed down in 2005, particularly during the second half. Two major reasons for this noticeable change: 1) oil prices persistently stayed at the historically highest levels ever (in nominal terms) in the last half of 2005; 2) due to increasing budgetary burdens from subsidies under the constant high price environment in the past few years, many governments have terminated or significantly reduced those subsidies. Despite strong economic conditions in the region, high oil prices have accelerated fuel substitution, according to a recent analysis from FACTS Inc. (www.factsinc.net). In particular, several countries have started promoting biofuel and natural gas v

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