The structure of petroleum demand in the Asia-Pacific region is undergoing a fundamental change. Demand for heavy fuel oil in power generation is declining as the oil substitution policies of the regional government proceed. At the same time, the regional refining industry is unable to crack the...

During the 1970s the non-communist world has weathered, without profound economic disturbance, the oil crisis which developed following the formation of OPEC. This was to a large extent due to the fact that, although the market price of crude had sharply increased, its cost in real terms had...

The two oil price revolutions of the 1970s have been followed by the counter-revolution of 1980–1983. Events in that period have changed the shape of the oil industry as effectively as the oil price shocks of the 1970s. In the aftermath of the counter-revolution, there are once again...

It is expected that the Asia-Pacific region will increase its demand for petroleum products at a greater rate than any other part of the world over the next two decades. Indonesia, an OPEC member, as well as Malaysia, Brunei, and China (Beijing),††This awkward term is the one agreed upon by...

The economic crises in Thailand, South Korea, Indonesia, and Japan have focused attention on the region's economic problems as well as its well-documented success. One potential problem is satiating these economies' increasing demand for energy. This problem has been made even more pressing by...