IRAQ: Plans to boost crude exports to 12 million b/d in doubt

(EnergyAsia, October 27 2010, Wednesday) — Industry insiders doubt Iraq’s ability to meet its ambitious goal of raising its crude exports to 12 million b/d within six years from 2.3 million at present. They said ongoing security concerns, weak finances and technical difficulties are likely to hinder Iraq from achieving its export goal. Some think…

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JAPAN: Cosmo to cut crude processing capacity to boost profitability

(EnergyAsia, October 27 2010, Wednesday) — Falling domestic oil demand may prompt Japanese refiner Cosmo Oil Co to slash its 500,000 b/d refining capacity by as much as 20% by fiscal year 2013. The company is looking to close part of its operations at four refineries, a trend spreading among downstream oil companies in Japan….

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CHINA: Gazprom unit makes groundbreaking carbon deal with windpower project

(EnergyAsia, October 27 2010, Wednesday) — Gazprom Marketing and Trading (GM&T), a subsidiary of the Russian gas major, said it has agreed to purchase all primary carbon emissions certificates (CERs) from a successfully registered CDM 26 MW wind power project in China’s Fujian province.

The CER purchase from the project in Zhangpu County owned by the Datang group is expected to generate an estimated emission reduction of 125,623 tonnes of CO2e by the end of 2012.

The project has been fully operational since December 2008 and was successfully registered as a CDM project on February 2010. The implementation of the proposed project will achieve CO2 emission reductions by replacing electricity generated by fossil fuel fired power plants, said GM&T.

The plant will generate around 51,950MWh of electricity a year for delivery to the East China Power Grid (ECPG), and result in the reduction of 47,867 of tCO2e. It will generate an estimated emission reduction of 335,069 tCO2e in the first seven years crediting period from June 2009 – May 2016.

Arthur Tait, managing director of GM&T Singapore, said: “This is a fantastic clean energy project that will not only be a source of green power to the local market, but will also be a source of carbon emissions reduction certificates. Today’s agreement will provide more liquidity to our portfolio of carbon products and will therefore help us deliver more value to our global clients.

“We remain very optimistic about the development of carbon markets on both a global and local basis. This deal was made possible by the opening of a regional office in Singapore, allowing us to develop new promising markets for GM&T in Asia.

“We hope that this is the first of many deals that we arrange with Datang group and Beijing Exchange as well as with key Chinese counterparties.”

SINGAPORE: Siemens hands over PowerSeraya’s combined cycle power cogeneration plant

(EnergyAsia, October 26 2010, Tuesday) — Germany’s Siemens Energy said it officially handed over units 30 and 40 of a combined cycle power cogeneration plant to Singapore’s PowerSeraya last week.

The new units have a fuel efficiency rate 75% higher than the three oil-fired plants on Jurong Island that they replaced.

Siemens built the turnkey, 800-megawatt (MW) plant in an open consortium led by Siemens AG in partnership with Siemens Pte Ltd Singapore and Samsung C&T of South Korea.

These high-efficiency combined-cycle units are configured for cogeneration, supplying electricity to the grid and process steam to a neighbouring plant owned by Petrochemical Corporation of Singapore Private Ltd.

“These high-efficiency cogeneration units will play a major part in meeting Singapore’s increasing energy requirements in an environmentally friendly and cost-effective manner,” said Rainer Hauenschild, CEO of Energy Solutions for the Fossil Power Generation Division of Siemens Energy.

In 2002, Siemens said it and Samsung Corporation jointly constructed two combined-cycle units for PowerSeraya on the same site, with each unit rated at 370 MW. These units were likewise converted to cogeneration in the course of the new construction project.

Completion of the new units means that PowerSeraya now has four combined-cycle units on Jurong Island with a total installed capacity of 1540 MW. The Siemens scope of supply for the new units covered two SGT5-4000F gas turbines, two hydrogen-cooled generators, the heat recovery steam generators together with all the electrical systems and the SPPA-T3000 control system.

Siemens was also awarded a service contract for these units.

SINGAPORE: PowerSeraya inaugurates new 800MW co-generation combined cycle plant

(EnergyAsia, October 26 2010, Tuesday) — PowerSeraya Ltd, a wholly-owned subsidiary of Malaysia’s YTL Power International Bhd, has officially started up its new 800 megawatt (MW) combined-cycle power plant on Singapore’s Jurong Island.

The natural gas-fired plant simultaneously generates electricity and steam to service growing demand from the over 95 petrochemical companies on the island. The company already provides steam for the Petrochemical Corporation of Singapore (PCS) through a 15-year supply contract.

The plant also uses waste heat produced from electricity generation, combined with water from its own seawater reverse osmosis (SWRO) desalination plant to produce almost 600 tonnes per hour of high-pressure steam.

This not only supports the government’s ‘Jurong Island 2.0’ initiative to strengthen the Singapore petrochemical industry’s competitiveness, it also decreases the company’s carbon footprint by an estimated 10%.

Along with the successful conversion of two units of its combined cycle power plants, the new facility has increased PowerSeraya’s co-generation capacity to nearly 1,500 MW, the largest in Singapore.

The S$800 million plant is in line with PowerSeraya’s diversified energy strategy to provide multi-utility services that include electricity, steam and water. The company has a 30% share of Singapore’s contestable energy retail market. (US$1=S$1.3).

Gracing the launching ceremony last week was Yaacob Ibrahim, Singapore Minister for the Environment & Water Resources and YTL’s top executives, Yeoh Tiong Lay, chairman of YTL Corp, and Francis Yeoh, chairman of the PowerSeraya Group.

John Ng, PowerSeraya’s CEO, said: “The establishment of the co-generation plant is a testament of our commitment to meet the growing demand and opportunity we see in the sector. With the new plant, PowerSeraya will be able to improve the competitiveness of steam-user companies on Jurong Island by allowing them to focus on their core business due to a resulting decreased need for them to produce their own steam supply through internal operational conversions. This allows them to reduce their business capital and operating costs.”

Dr Francis Yeoh said: “PowerSeraya has made commendable efforts in transforming itself from a single commodity power company to a multi-faceted energy company. With PowerSeraya’s multi-utility capabilities and excellent customer reputation, we see the company as a clear platform for growth in Singapore and the region.”

YTL Power’s operations include power generation in Malaysia and Indonesia, power transmission in Australia, provision of water and sewerage services in the UK as well as plant operations and maintenance in Indonesia.

CHINA: CNOOC to build six new LNG import terminals

(EnergyAsia, October 26 2010, Tuesday) – China National Offshore Oil Corporation (CNOOC) is planning to build another six liquefied natural gas (LNG) receiving terminals and 15 compressed natural gas (CNG) service stations in China, according to the State-owned Assets Supervision and Administration Commission (SASAC). The company has already developed thee LNG terminals and is operating…

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CHINA: Dalian Port seeks to raise nearly 3.67 billion yuan in public offering

(EnergyAsia, October 26 2010, Tuesday) — Fresh from battling China’s largest oil spill in July and August, Dalian Port (PDA) said it is hoping to raise nearly 3.67 billion yuan in an offering of up to 1.2 billion shares through the Shanghai stock exchange. (US$1=6.6 yuan). The Hong Kong-listed company, which operates northern China’s largest…

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SINGAPORE: MPA and Dubai Maritime City Authority to foster maritime relations

(EnergyAsia, October 26 2010, Tuesday) — The Maritime and Port Authority of Singapore (MPA) said it has signed a Memorandum of Understanding (MOU) with Dubai Maritime City Authority (DMCA) to foster maritime relations. MPA said it will explore opportunities to collaborate with DMCE in planning and regulating marinas and waterways, promoting maritime environment protection, and…

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CHINA: CNOOC plans for oil storage terminal in Dongying port

(EnergyAsia, October 26 2010, Tuesday) — China National Offshore Oil Corp (CNOOC) is looking to develop an oil storage terminal at its newly acquired Dongying port in Shandong province. The acquisition will strengthen the company’s operations in North China, and complement its holding of upstream oil and gas assets in Bohai Sea and East China…

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MARKETS: Leading LNG buyers behind 28% surge in global imports in first half of 2010, says consultan

(EnergyAsia, October 26 2010, Tuesday) — Major buyers of liquefied natural gas (LNG) helped raise its imports by 28% in the first half of 2010 compared to the same period last year, according to Australia’s energy economics group, EnergyQuest. In a detailed analysis of official international trade statistics, EnergyQuest said it found that the North…

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BAHRAIN: State BAPCO cancels oil storage and export project

(EnergyAsia, October 26 2010, Tuesday) — Unable to reach an agreement on technical details, Bahrain Petroleum Co (BAPCO) and its partners have canceled their plan to set up a US$150 million oil storage and export facilities on Bahrain’s Sitra island. BAPCO, Saudi Arabia’s Arab Petroleum Investments Corp, Bahrain’s Holding Company and Kuwait’s Independent Petroleum Group…

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ASIA: Logistics specialist Agility targets oil and gas for growth

(EnergyAsia, October 25 2010, Monday) — Award winning integrated logistics specialist Agility is targeting the oil and gas industry and its operations in Asia to spur its growth.

Early this month, the company walked away with the prestigious ‘Logistics Award’ for the third consecutive year at the Lloyd’s List Asia Awards ceremony.

Attended by 300 leading shipping and logistics professionals, the awards ceremony was judged by academic and industry leaders from across the region including Japan, South Korea, Singapore, Malaysia, Singapore, Hong Kong and the Philippines.

The award reflects Agility’s growing presence providing logistical services to a range of industries including project cargo, oil, gas and chemicals. In Asia, it provides specialised services for oil and gas companies working in demanding environments from Indonesia’s Kalimantan jungles to the Gorgon offshore oilfields of Western Australia.

Founded in Kuwait in 1979, Agility is actively seeking to expand in Asia’s diverse markets including Brunei, East Timor and Laos while seeking out new businesses in moving oil and gas equipment and pipes in Singapore, Vietnam and Indonesia.

Hans Hickler, CEO for Asia Pacific, Agility, said: “Our business is all about consistency and striving for excellence. Winning this award for three consecutive years shows that we continue to deliver a high level of service and that, in the eyes of our peers and industry experts, we are the best at what we do,” he added.

With close to US$6 billion in annual revenue, the publicly-traded company has 32,000 employees spread over 550 offices in 120 countries.

Agility divides its operations into three business groups. Agility Global Integrated Logistics (GIL) provides supply chain solutions to customers in technology, retail, oil and gas, chemicals while Agility Defense & Government Services (DGS) serves governments, relief agencies and international institutions worldwide.

Agility Infrastructure provides infrastructure support in the areas of industrial real estate, customs optimization, and airline services.

SINGAPORE: JTC awards S$54 million contract for construction of offshore marine centre

(EnergyAsia, October 25 2010, Monday) — JTC Corporation, Singapore’s state industrial infrastructure specialist, said it has awarded the tender for the construction of a major offshore marine centre (OMC) at Tuas View to Muhibbah Engineering (Singapore) Pte Ltd. To be built on a 13-hectare waterfront infrastructure, the S$54 million OMC will be completed by November…

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SINGAPORE: Sembawang Shipyard secures FPSO conversion and upgrading contracts worth S$75 million

(EnergyAsia, October 25 2010, Monday) — Singapore’s Sembcorp Marine said its Sembawang Shipyard has secured two floating production storage and offloading (FPSO) contracts worth S$75 million. (US$1=S$1.3). The first contract, awarded by leading FPSO contractor BW Offshore, is for the conversion of a 97,172 -dwt tanker BW Genie into a floating production unit (FPU). Major…

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SINGAPORE: Keppel FELS secures two rig contracts worth US$101 million

(EnergyAsia, October 25 2010, Monday) — Keppel FELS Limited, a subsidiary of Singapore’s Keppel Offshore & Marine Ltd, said it has secured new contracts worth about US$101 million to complete and refurbish two semisubmersible drilling rigs respectively for Saipem S.p.A and Ensco plc. (US$1 = S$1.3). The first contract was awarded by Italy’s Saipem SpA…

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MARKETS: OPEC expects world oil demand to rise to record highs in 2010 and 2011

(EnergyAsia, October 25 2010, Monday) — The Organisation of Petroleum Exporting Countries (OPEC) expects world oil demand to continue growing strongly to reach new record highs this and next year. In its latest monthly forecast, the cartel sees world demand rising by 1.34% or 1.13 million b/d to 85.59 million b/d in 2010, and by…

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INDIA: Indian Oil Corp to position Paradip refinery to supply to domestic markets

(EnergyAsia, October 25 2010, Monday) — Indian Oil Corporation (IOC) may have to re-position its new Rs298 billion export-oriented refinery at Paradip to supply fuel to the domestic market instead. (US$1=Rs44). To be commissioned by next March, the refinery has the capacity to produce 3.41 million tonnes (mt) of gasoline, 1.45 mt of jet kerosene,…

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IRAN: European firms cave into US demands to stop oil deals

(EnergyAsia, October 25 2010, Monday) — Four of Europe’s five largest oil companies have ended or are in the process of ending their trade deals with Iran, according to the US State Department. Under pressure of sanctions, Royal Dutch Shell Plc, Total SA, Eni SpA and Statoil ASA will stop making new deals with the…

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INDIA: BPCL refinery set to begin full commercial production next year

(EnergyAsia, October 25 2010, Monday) — India’s state Bharat Petroleum Corp (BPCL) is expected to start full commercial production of its greenfield refinery at Bina in Madhya Pradesh state next January, bringing the group’s total refining capacity to 30.5 million tons.     The company had started up a crude distillation unit in June.  The six-million…

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SINGAPORE: Non-power firms encouraged to use LNG

(EnergyAsia, October 22 2010, Friday) — Singapore is targeting electronics, pharmaceutical firms and other industrial companies to use liquefied natural gas for their production facilities. BG Group, which in April 2008 won a 20-year contract to supply three million tons per year of LNG to Singapore, is promoting the fuel to prospective industrial customers after…

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SINGAPORE: State agencies form new network to deal with key issues and threats

(EnergyAsia, October 22 2010, Friday) — The Singapore government has established a new network comprising senior officials from all its ministries to coordinate on key issues, risks and plans including security policies. The aim is to enable key state officials prepare to deal with looming issues and risks such as the supply of natural resources…

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SOUTH KOREA: Daewoo expects to be first to produce LNG from floating facility

(EnergyAsia, October 22 2010, Friday) — Daewoo Shipbuilding & Marine Engineering Co expects its Papua New Guinea energy venture to pip Royal Dutch Shell Plc in the race to become the first company to produce natural gas from a floating liquefied natural gas (FLNG) facility. While Shell has ambitious plans to build as many as…

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MARKETS: IEA expects world oil demand at 88.2 million b/d in 2011, EIA predicts 87.44 million b/d

(EnergyAsia, October 22 2010, Friday) — World oil demand is expected to rise by 2.1 million b/d to reach 86.9 million b/d in 2010 and to 88.2 million b/d in 2011, said the International Energy Agency (IEA). The agency’s latest forecast for world oil demand in both years represents an upward revision of 300,000 b/d…

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AUSTRALIA: Rio Tinto opens A$1.29 billion Clermont coal mine

(EnergyAsia, October 22 2010, Friday) — UK mining group Rio Tinto Limited said it has opened Australia’s newest open cut thermal coal mine in Bowen Basin in Queensland state. With a reserve base of 189 million tonnes, the Clermont mine is expected to produce 100,000 tonnes of coal a year, with export reaching 12.2 million…

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IRAN: Oil exports to fall on latest sanction moves by the US and EU

(EnergyAsia, October 22 2010, Friday) — Expect Iran’s oil exports to fall in the coming months on as wide-ranging sanctions imposed by the US and the European Union in July squeeze crude buyers. Western governments said previous sanctions aimed at curbing Iran’s nuclear ambitions have had limited impact on its oil exports. The latest moves,…

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