(EnergyAsia, September 23 2010, Thursday) — Swedish independent oil and gas exploration and production company Lundin Petroleum AB said it has agreed to sell its non-operated interests in the Salawati Basin and Island assets in the eastern part of Indonesia to Singapore-listed RH Petrogas. Lundin said the assets were sold for US$37.1 million with additional...

(EnergyAsia, September 23 2010, Thursday) — UK energy major BP said it will divest its interests in Malaysian ethylene and polyethylene production to national oil and gas company Petronas. BP will sell off its 15% stake in Ethylene Malaysia Sdn Bhd (EMSB) and 60% stake in Polyethylene Malaysia Sdn Bhd (PEMSB) for US$363 million in...

(EnergyASIA, September 23 2010, Thursday) — Coalbed methane (CBM) could eventually comprise 15% of Indonesia’s gas supply, making the country the largest source of unconventional gas in Southeast Asia, said consultant Wood Mackenzie. In its report, “Making the case for Indonesian CBM”, Wood Mackenzie said the fledgling CBM offers leading players the opportunity to snare...

(EnergyAsia, September 23 2010, Thursday) — With its vast coal reserves and close proximity to China, Mongolia could emerge as a major competitor to Australia. Mongolia has at least 10-15 billion tons of recoverable coal, according to mining company Leighton Holdings Ltd, which claims to be the only international miner in the country. Compared with...

(EnergyAsia, September 23 2010, Thursday) — Indonesia’s state oil and gas company Pertamina said it has shortlisted five companies to help it build a US$1 billion refinery unit at an existing complex on Java Island. Japan’s Toyo Engineering, China’s Sinopec Corp, Italy’s Saipem SP, South Korea’s Hyundai Engineering and an unnamed local firm have been...

(EnergyAsia, September 23 2010, Thursday) — Indian police and fire officials are investigating the cause of what has been described as a suspicious major fire at an ageing un-used oil storage tank in Chennai Port. The facility leased by a private company went up in flames in late August. Fire fighters fought the blaze for...

(EnergyAsia, September 23 2010, Thursday) — Imports met more than 55% of China’s total oil demand in the first half of this year, according to the China Petroleum and Chemical Industry Association (CPCIA). The country’s oil import dependence has grown in lockstep with its fast rising demand brought on by strong economic growth. The association...

(EnergyAsia, September 22 2010, Wednesday) — Australia’s Prime Minister Julia Gillard said her government is giving owners of offices, hotels and supermarkets a 50% tax break for investments in energy-saving measures from the middle of 2011. The government said the green building tax break will cost it A$1 billion in foregone revenue by 2018. (US$1=A$1.08)....

(EnergyAsia, September 22 2010, Wednesday) — India’s Petronet LNG said it will build two new storage tanks at the Dahej liquefied natural gas (LNG) terminal to add to its four tanks and two regasification facilities. When the new tanks are commissioned, Dahej LNG terminal’s capacity will rise to 15 million metric tons a year from...

(EnergyAsia, September 22 2010, Wednesday) — Australia’s natural gas industry should not be considered an “energy source of last resort”, as it is a “dynamic contributor to the nation’s energy economy”, a leading gas pipeline industry executive said last week. The current “rush to renewables” as an energy source should force the gas industry to...

(EnergyAsia, September 22 2010, Wednesday) — Dalian Port (PDA) Co Ltd recently started up China’s biggest oil terminal with the capacity to import and unload 19 million tons of oil per year. Jointly developed by Dalian Port and CNPC, the port now has the capacity to offload 1.6 million b/d or 80 million tons annually....

(EnergyAsia, September 22 2010, Wednesday) — State Indian Oil Corp (IOC) is expanding the capacity of its largest oil refinery in Panipat by 25% to 300,000 b/d. The company shut down its crude, hydrocracker and delayed coker units for a month and a half from early September. When completed, the plant’s hydrocracking capacity will increase...

(EnergyAsia, September 22 2010, Wednesday) — Riding on Asia’s strong economic and energy demand growth, Australia’s booming oil and gas sector will be the biggest recipient of Shell’s investment over the next decade. The Anglo Dutch firm said it is allocating a large part of its resources in Australia, , particularly its natural gas sector,...

(EnergyAsia, September 21 2010, Tuesday) — Boosted by its strong economy, India is increasingly taking a larger share of South Africa’s coal exports. For the year to date, India’s coal purchases have averaged around 34% of South Africa’s exports, up from 29% in 2009 and 11% in 2008. Rising coal demand from India and China...

(EnergyAsia, September 21 2010, Tuesday) — Automakers will sell 3.2 million plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs) by 2015 as plug-in electric vehicles gain critical mass worldwide, says US-based Pike Research. These vehicles offer improved fuel economy, lower emissions, and a quieter ride than comparable traditionally power internal combustion engine (ICE)...

(EnergyAsia, September 21 2010, Tuesday) — Oil giants Royal Dutch Shell and PetroChina last month completed their joint acquisition of Arrow Energy Limited, an Australian coal seam gas company. The acquisition was made through CS CSG (Australia) Pty Ltd, an equal joint venture company owned by Shell Energy Holdings Australia Limited and a subsidiary of...

(EnergyAsia, September 21 2010, Tuesday) — Singapore’s Agency for Science, Technology, and Research (A*STAR), the lead agency for fostering world-class scientific research and talent, showcased its new toxic-free fire retardant, along with eight other innovations, at the Build Eco Xpo (BEX) Asia exhibition at the Sands Expo and Convention Centre LAST WEEK. These technologies will...

(EnergyAsia, September 21 2010, Tuesday) — The share price of SGX-listed offshore support and marine services specialist Ezra Holdings Ltd has fully recovered from the initial sell-off when the company announced last month that it had launched a fully underwritten one-for-five renounceable rights issue of new shares priced at S$1.18 each. (US$1=S$1.34). Ezra’s share price...

(EnergyAsia, September 21 2010, Tuesday) — More than seven years after the US launched its disastrous military invasion of Iraq, security threats and the drums of war are beating once again in the Middle East, home to 57% of the world’s oil reserves. The consequences of a possible Western strike against a more powerful, better...

(EnergyAsia, September 20 2010, Monday) — China Natural Gas Inc, a leading provider of compressed natural gas (CNG) for vehicular fuel and pipeline natural gas for industrial, commercial, and residential use in Xian, China, said it has successfully modified and tested a ship powered by liquefied natural gas (LNG) in Wuhan city recently. The company...

(EnergyAsia, September 20 2010, Monday) — Japan’s ITOCHU Corporation said it has agreed to acquire the shares of Australian coal mining company Gloucester Coal Ltd (GCL), which own and operates two coal mines in Gloucester Basin in Australia’s New South Wales state. The coal produced in the basin, referred to as the ‘Gloucester Project’, is...

(EnergyAsia, September 20 2010, Monday) — Nigeria will negotiate to raise its 1.673-million b/d production quota within the Organisation of Petroleum Exporting Countries (OPEC) when the cartel meets next month, said newly appointed Oil Minister Diezani Alison-Madueke. The West African nation has been producing more than two million b/d in recent months, thanks to the...