SINGAPORE: SembCorp to launch second co-generation plant

(EnergyAsia, December 1 2010, Wednesday) — Singapore’s SembCorp is on track to launch its second co-generation plant in Jurong Island that will boost its total capacity to 1,615 megawatts. The company expects to soon begin work after signing a letter of intent with Alstom for the engineering, procurement and construction of the 800MW plant. Alstom...

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VIETNAM: Cavico secures Phase 1 of Dong Giao coal mine construction contract

(EnergyAsia, December 1 2010, Wednesday) — Cavico Corp, a NASDAQ-listed infrastructure construction, infrastructure investment, and natural resources conglomerate based in Vietnam, said its subsidiary, Cavico Infrastructure, has secured Phase I of a construction contract with Tay Nguyen Mineral Exploitation Company, a subsidiary of East North Company of Vietnam’s Ministry of Defence. Cavico Infrastructure will excavate...

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COMPANY: Another four companies join globalCOAL

(EnergyAsia, December 1 2010, Wednesday) — globalCOAL said that HC Trading Malta Ltd, Lubelski Wegiel Bogdanka SA, Hess Energy Power & Gas Company and Traxys Europe S.A have all joined the globalCOAL trading community as market members. HC Trading is a subsidiary of the HeidelbergCement Group, a leading manufacturer of aggregates, cement and concrete listed...

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MARKETS: Crude oil prices continue to head up

(EnergyAsia, December 1 2010, Wednesday) — Oil prices are heading higher in the coming months on a confluence of factors: a weak dollar, the US Federal Reserve’s decision for more quantitative easing, robust global demand, and pressure on OPEC to accept a higher price range. Oil has been at the top end of its 15-month...

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PHILIPPINES: Phoenix Petroleum to set up storage facility

(EnergyAsia, December 1 2010, Wednesday) — Phoenix Petroleum Philippines Inc is investing 123 million peso to set up a storage facility for petroleum products in Zamboanga City in southern Philippines. (US$1=44 peso). The 4.9-million-litre facility will store biodiesel, gasoline and jet fuel to meet the demands of consumers in southern Philippines. The company also plans...

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SOUTH KOREA: Government predicts lower coal imports in coming decades

(EnergyAsia, December 1 2010, Wednesday) — The South Korean government has predicted that the country will reduce its imports of coal and other fossil fuels in coming years as it shifts toward cleaner energy sources. The Presidential Committee on Green Growth said the government has targeted to lower the fossil fuels component in South Korea’s...

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SAUDI ARABIA: Two companies to help Ivory Coast firm double fuel storage capacity

(EnergyAsia, December 1 2010, Wednesday) — Two Saudi firms have been awarded contracts worth a total of US$400 million to help Ivory Coast fuel storage company GESTOCI double its capacity to 680,000 cubic metres. Pipeline contractor Faysal M Qahtani Sons (FMQ) and financier Global Trading Group will jointly work on rebuilding a 60,000-cubic metre facility...

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CHINA: Oil storage capacity to reach 78 million cubic metres by 2015

(EnergyAsia, November 30 2010, Tuesday) — China’s largest oil firms, CNPC and Sinopec, are expected to have a storage capacity of 50 million cubic metres by 2015, nearly equal the country’s total oil stockpile capacity. According to the China Petroleum Planning and Engineering Institute, the country’s other oil firms are expected to have a storage...

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AUSTRALIA: Santos announces supply of 750PJ of Eastern Australian gas to GLNG

(EnergyAsia, November 30 2010, Tuesday) — Australian upstream company Santos Limited said it will supply 750 petajoules (PJ) of gas from its Eastern Australian gas reserves to its Gladstone Liquefied Natural Gas (GLNG) project in Queensland. Sourced mainly from existing uncontracted Cooper Basin 2P reserves, the supply agreement not only accelerates monetisation of these LNG...

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CHINA: Sinopec halts diesel exports

(EnergyAsia, November 30 2010, Tuesday) — State-owned Sinopec said it has halted all diesel exports to help ease a nation-wide diesel shortage and also help suppress inflationary pressures. Sinopec’s decision will help ease the diesel shortage that’s blamed on the government’s forced power shutdowns aimed at generating energy savings. Possible hoarding by oil companies is...

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PHILIPPINES: Lawmaker seeks creation of oil reserve

(EnergyAsia, November 30 2010, Tuesday) — A Philippine Senator is seeking the creation of a national petroleum reserve to guard against any emergency supply shortfalls. Senator Teofisto Guingona III said the move is aimed at preventing a repeat of a nationwide panic in early 2009 when the Philippines experienced a squeeze in liquefied petroleum gas...

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CHINA: Refiners step up diesel production to avert shortage

(EnergyAsia, November 30 2010, Tuesday) — China’s oil refiners are stepping up fuel production and raising import to meet an unexpected surge in diesel demand caused by a nationwide campaign to save energy. Diesel shortages have resulted amid enforced power outages intended to enable China meet its energy-saving goals, and increased demand from transportation firms....

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MARKETS: IEA expects natural gas glut to peak in 2011

(EnergyAsia, November 30 2010, Tuesday) — The global glut in natural gas supply is expected to peak next year, and from then on gradually disappear, thanks to strong demand from China, according to the International Energy Agency (IEA). In its World Energy Outlook released earlier this month, the Paris-based agency said the world’s gas surplus...

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ABU DHABI: Target to boost oil production capacity to 3.5 million b/d by 2016

(EnergyAsia, November 30 2010, Tuesday) — Abu Dhabi is targeting to raise its crude oil production capacity from 2.5 million b/d now to 3.5 million b/d by 2016. The Abu Dhabi Company for Onshore Oil Operations (Adco), the UAE’s largest oil producer, is investing up to US$5.3 billion to boost its production capacity by 400,000...

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THAILAND: PTTEP to pay US$2.28 billion for 40% stake in Canadian oil sands project

(EnergyAsia, November 29 2010, Monday) — Thai upstream company PTT Exploration and Production (PTTEP) has agreed to pay US$2.28 billion Norway’s Statoil for a 40% stake in its oil sands project in Canada’s Alberta province. Statoil will retain 60% ownership in the Kai Kos Dehseh (KKD) project which it will continue to operate while subsidiary...

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QATAR: Singapore’s Keppel Corp to manage JV shipyard

(EnergyAsia, November 29 2010, Monday) — Qatar and Singapore have combined their expertise to jointly establish and launch the Nakilat-Keppel Offshore & Marine (N-KOM) shipyard in the Ras Laffan industrial city in northern Qatar. Government and industry officials were in Qatar last week to launch the 43-hectare shipyard, said to cost US$2.8 billion, as well...

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MARKETS: Paul Stevens on the hype and reality of the shale gas ‘revolution’

(EnergyAsia, November 29 2010, Monday) — The following is an edited version of a summary of a Chatham House Report (September 2010) on the shale gas industry by Prof Paul Stevens. The recent ‘shale gas revolution’ in the US has created huge uncertainties for international gas markets that are likely to inhibit investment in gas...

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MARKETS: Non-OPEC supply about to “plateau” as global demand growth near 30-year high

(EnergyAsia, November 29 2010, Monday) — Global oil demand growth this year will be among its fastest over the past three decades, said leading consultant Fereidun Fesharaki. While the Organisation of the Petroleum Exporting Countries (OPEC) has done a “spectacular job” in keeping crude oil prices at between US$70 and US$80 a barrel, he pointed...

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KAZAKHSTAN: BMB Munai completes maintenance and expansion of oil storage facility

(EnergyAsia, November 29 2010, Monday) — Kazakhstan’s BMB Munai Inc said its subsidiary, Emir Oil, has reconstructed and expanded a crude oil storage terminal in Daulet village in the Mangistau region in western Kazakhstan. The refurbished and expanded facility now has the capacity to store 8,600 cubic metres or 54,100 barrels of crude oil. In...

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INDIA: Aegis aims to more than triple oil and petrochemical storage capacity by 2012

(EnergyAsia, November 29 2010, Monday) — Aegis Logistics Limited, and Indian supply chain management specialist for the energy sector, said it is investing more than Rs4.3 billion to expand its oil and petrochemical storage capacities in three locations around the country. (US$1=Rs44). The projects will raise the company’s liquids capacity from 300,000 kilolitres now to...

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ASIA: Canada could be source of clean energy derived from shale gas

(EnergyAsia, November 29 2010, Monday) — With its huge reserves of shale gas, Canada’s British Columbia province could satisfy North America’s growing appetite for clean energy and meet Asia’s demand for liquefied natural gas (LNG) at the same time. The industry will have to comply with tough environmental standards and cooperate with local communities to...

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SAUDI ARABIA: Oil minister denies era of easy oil may be over

(EnergyAsia, November 26 2010, Friday) – Saudi Arabia’s Oil Minisder Ali al Naimi has denied claims that the world has moved past the era of easy oil production, pointing to 88 billion barrels of remaining reserves at its giant onshore Ghawar field. But analysts say ageing Ghawar, which started up in 1951 and still holds...

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RUSSIA: US LNG exports seen as new threat

(EnergyAsia, November 26 2010, Friday) — Liquefied natural gas (LNG) exports from the US could emerge as a surprise threat against Russia’s grip on the European energy market. Faced with surplus gas supplies from shale, the US is working to divert some of its imported LNG cargoes to countries where gas prices are higher. The...

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RUSSIA: China rising as most important strategic partner after the US

(EnergyAsia, November 26 2010, Friday) — Russia is strengthening its political and economic ties with China as it seeks to strike a balance in its relations with the East and the West. Following the collapse of the Soviet Union, Russia has pursued radical reforms to align its political and economic system with its former Cold...

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SINGAPORE: Prime Minister on preparing for the “new energy future”

(EnergyAsia, November 26 2010, Friday) — The following is the second edited part of a speech by Prime Minister Lee Hsien Loong to delegates at the Singapore International Energy Week earlier this month. “In Singapore, we are preparing ourselves for a new energy future. The uncertainties are major and there are three questions which we...

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