Archive | December, 2010

CANADA: Prophecy Resources increases size of equity offering to C$42 million

(EnergyAsia, December 30 2010, Thursday) — Canadian mining firm Prophecy Resource Corporation said it has increased the size of its recent offering of common shares by C$12.053 million, or 14,180,000 common shares priced at C$0.85 per share. (US$1=C$1). Due to strong investor demand, the Vancouver, British Columbia-based company said the equity offering now totals 49.475 […]

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MONGOLIA: Prophecy Resources presents prefeasibility study for Ulaan Ovoo coal mine

(EnergyAsia, December 30 2010, Thursday) — Canada’s Prophecy Resource Corp said its recently completed updated prefeasibility study on the Ulaan Ovoo coal mine in northern Mongolia has recommended that it employs a mining contractor using open pit methods to raise production from 250,000 tonnes in 2010 to 1.1 million tonnes in 2011, and two million […]

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RUSSIA: CNPC’s Daqing terminal receives first oil through new pipeline

(EnergyAsia, December 30 2010, Thursday) — China National Petroleum Corporation (CNPC) said its Daqing terminal in the northeastern part of the country received its first crude oil cargo last week through a newly completed pipeline from Russia. The 1,000km-long pipeline will start full operation on January 1 with the capacity to deliver 15 million tonnes […]

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SINGAPORE: Keppel O&M’s 2010 order book reaches S$3.2 billion

(EnergyAsia, December 30 2010, Thursday) — Keppel Offshore & Marine Ltd, or Keppel O&M, has secured S$3.2 billion worth of projects for 2010 after two subsidiaries signed off on three conversion and specialised shipbuilding contracts worth S$240 million. (US$1=S$1.3). These comprise the upgrading of a floating production storage and offloading (FPSO) vessel, the conversion of […]

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MALAYSIA: Government to invest RM300 million in infrastructure to support oil supply base

(EnergyAsia, December 30 2010, Thursday) — The Malaysian government is investing RM300 million in infrastructure works linked to the development of the Tanjong Agas Oil & Gas and Logistics Industrial Park (TAOGLIP) in Pahang state. (US$1=RMR3.09). The industrial park project, with an integrated supply base to be operated by the Tanjong Agas Oilfields Supply Centre […]

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SINGAPORE: NewEarth starts construction of waste re-utilisation facility

(EnergyAsia, December 30 2010, Thursday) — Tuas Power said its partly-owned waste recycling subsidiary, NewEarth Singapore (NES), has begun construction of its waste re-utilisation facility in the Tuas industrial area in western Singapore. The facility will employ the award-winning crystallisation technology, patented and licensed by waste treatment technology developer NewEarth Pte Ltd, to transform industrial […]

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ASIA: Canadian activists oppose ‘dirty’ coal mines on Vancouver Island

(EnergyAsia, December 29 2010, Wednesday) — Environmentalists and local groups are organising to oppose the revival of coal mines on Canada’s Vancouver Island in response to growing demand in Asia. According to volunteer Maryjka Mychajlowycz, Compliance Coal Corp and its partners, Japan’s Itochu Corp and South Korea’s LG International, have met with shocked opposition from […]

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CHINA: Lloyd’s sponsors research into risks faced by floating infrastructure in offshore sector

(EnergyAsia, December 29 2010, Wednesday) — Lloyd’s Register of the UK said its educational trust has awarded a consortium comprising a UK and two Chinese universities a sum of £1.24 million to jointly conduct research into deepwater engineering and hydrodynamics. (US$1=£0.65). The findings work will greatly benefit drilling contractors and oil companies who are venturing […]

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ASIA: Billions of dollars pouring into Canada’s oilsands

(EnergyAsia, December 29 2010, Wednesday) — Cash-rich, resource-hungry Asian companies have invested an estimated US$16 billion in Canada’s oilsands over the past 18 months, and are expected to pour in another US$2 billion in 2011. Thailand’s PTT Exploration and Production became one of the two latest players in Canada’s oilsands after buying a 40% stake […]

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CHINA: Shanghai Petroleum Exchange launched LNG, LPG trading on December 17

(EnergyAsia, December 29 2010, Wednesday) — The Shanghai Petroleum Exchange has launched trading in liquefied natural gas (LNG) and liquefied petroleum gas (LPG) paper contracts to enable traders to price the two commodities. International traders are sceptical and may not support the contracts as they are largely confined to meeting the needs of domestic players. […]

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