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 wastes into environmentally safe construction and reclamation materials, thereby reducing disposal of wastes as landfill and offering an alternative source of materials for the construction industry.

NewEarth is a joint venture between Tuas Power Ltd and Water and Environmental Technologies Pte Ltd (WET), a subsidiary of SGX-listed Beng Kuang Marine Ltd.

The new plant will be able to handle up to 85,000 tons per year of industrial wastes such as dredged marine clay, sludge, slag and ashes collected from petrochemical, maritime, chemical, manufacturing and other industries.

Through the multi-stage crystallisation technology process, different will first be treated before being converted into environmentally safe construction products like building bricks, paving blocks and synthetic aggregates.

“NewEarth Singapore offers a unique solution to companies that are seeking a safe and environmentally responsible means of waste disposal, by treating and converting their waste into products that can be used in road works, general construction, and reclamation,” said Lim Kong Puay, Tuas Power President and CEO, and chairman of NewEarth Singapore.

“Tuas Power’s biomass-clean coal cogeneration plant, which is commencing operations at the end of 2012, will also be making use of the services of the NES facility. NES will be collecting coal bottom ash from the plant and converting it into synthetic aggregates that have applications in the construction industry, thus making our Tembusu multi-utilities complex an environmentally sustainable project.”

Speaking at the groundbreaking ceremony, Lam Yi Young, chief executive of the Maritime and Port Authority of Singapore (MPA), said:

“Through its Maritime Innovation and Technology Fund (MINT Fund), MPA is pleased to have been involved with, and to have witnessed the development of NewEarth’s crystallisation technology right from the beginning – from inception, to research and development, to test-bedding, till its successful completion and move towards becoming a valuable business proposition.”

NewEarth’s crystallisation technology is a five-year joint R&D effort among various parties including NewEarth, MPA, Surbana International Consultants Pte Ltd and Nanyang Technological University.

NewEarth has garnered numerous accolades under its belt, such as the “Innovator’s Award” presented by the Prime Minister’s Office under The Enterprise Challenge, “Outstanding Maritime R&D & Technology Award” under the International Maritime Awards 2006, and “Environment Protection Award” under the Seatrade Asia Awards 2008.
 
NewEarth Singapore Pte Ltd (NES) was incorporated as a commercial vehicle to own, build and operate commercial waste treatment plants in Singapore. Its shareholders include NewEarth Pte Ltd, the MPA (through its share depository and nominee, MPA Ventures Pte Ltd) and Surbana International Pte Ltd.

NewEarth is Singapore’s first waste recycling firm to provide a comprehensive range of eco-friendly industrial waste treatment and re-utilisation solutions. It engages in research and development activities, as well as the management and marketing of its proprietary technologies and patents. NewEarth’s main shareholders are key power company Tuas Power Ltd and Water and Environmental Technologies Pte Ltd (WET), a subsidiary of SGX-listed Beng Kuang Marine Ltd.

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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CHINA: Venezuela sold oil at low prices, say Wikileaks document

(EnergyAsia, December 29 2010, Wednesday) — Desperate to wean itself off the US market, Venezuela is finding out the high of cost of doing business with China. According to a confidential US document released by WikiLeaks, President Hugo Chavez has been selling the country’s crude to China for as low as $5 a barrel. The…

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MARKETS: Oil expected to surge past US$100 a barrel in 2011 as spare capacity dips

(EnergyAsia, December 29 2010, Wednesday) — Oil is expected to surge past the US$100 a barrel barrier sometime next year as analysts and traders worry about a rapid decline in the spare production capacity of the Organisation of Petroleum Exporting Countries (OPEC). Most estimates place the cartel’s production capacity at around five to six million…

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CHINA: CNPC to more than double capacity of Cuban oil refinery

(EnergyAsia, December 28 2010, Tuesday) — China National Petroleum Corp (CNPC) has landed a US$6 billion deal to upgrade and expand the capacity of an ageing 65,000 b/d oil refinery in Cuba to 150,000 b/d. CNPC will be partly paid for by crude oil from Venezuela whose state firm PDVSA is a joint owner of…

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AZERBAIJAN: SOCAR to build oil storage facilities in UAE and Thailand

(EnergyAsia, December 28 2010, Tuesday) — The State Oil Company of Azerbaijan (SOCAR) is looking to build storage tanks in the UAE and Thailand as part of an ambitious programme to expand abroad, and to increase export to China. The Azerbaijan state firm expects to complete the 640,000-cubic metre SOCAR Aurora Fujairah Terminal with Swiss…

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CHINA: Sinopec to build oil storage terminal in Zhejiang province

(EnergyAsia, December 28 2010, Tuesday) — China Petroleum and Chemical Corp (Sinopec) is building a 180,000-cubic metre oil storage terminal in Zhejiang province in eastern China to serve its refinery in Zhenhai port in Ningbo. To support the oil storage base, the company will be building a wharf in Taizhou city within the province. There…

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INDIA: Target to raise bilateral trade with China to US$100 billion by 2015

(EnergyAsia, December 28 2010, Tuesday) — While failing to resolve a host of political and diplomatic issues, the leaders of China and India have agreed to increase bilateral trade to US$100 billion by 2015. At their meeting in New Delhi in mid-December, Chinese Premier Wen Jiabao and Indian Prime Minister Manmohan Singh signed a pact…

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INDIA: Punjab oil refinery will be magnet for more downstream investments, says CEO

(EnergyAsia, December 28 2010, Tuesday) — A planned oil refinery in Bathinda city in Punjab is expected to help attract new downstream investments into the Indian state when it starts up next year. Prabh Das, CEO of HPCL-Mittal Energy Limited (HMEL) which is developing the project, said he expects the nine-million-tonne-a-year oil refinery to help…

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JAPAN: Saudi Aramco to store crude oil in Okinawa

(EnergyAsia, December 28 2010, Tuesday) — After marathon discussions lasting over three years, Saudi Arabia’s state-owned Saudi Aramco has agreed to lease a terminal in Japan’s southernmost prefecture of Okinawa to store around 600,000 kiloliters or 3.8 million barrels of crude oil. The contract with Japan Oil, Gas and Metals National Corp (JOGMEC) takes effect…

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MALAYSIA: Joint venture company to develop oil supply base

(EnergyAsia, December 28 2010, Tuesday) — Tanjong Agas Oilfields Supply Centre Sdn Bhd, a Dubai-Malaysia joint venture company, is looking to develop an oil and gas supply base in an industrial park in Malaysia’s Pahang state. Located in Pekan town, the 100-hectare supply base is a key plank in the government’s programme to stimulate economic…

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UPSTREAM: Global oil companies announce technology challenges for 2011

(EnergyAsia, December 27 2010, Monday) — ITF, the UK oil and gas industry technology facilitator, has spelled out the technology challenges that its membership of global service providers want to see tackled in 2011.

The organisation tasked with driving new game changing technology solutions also revealed ambitious plans to increase its international reach by opening new bases in key regions including the US, Middle East and Asia Pacific.

At ITF’s annual technology conference in Aberdeen earlier this month, representative of international oil companies from Europe, the US, the Middle East and Asia Pacific debated and narrowed down 60 specific technology issues to six priority challenges to focus on during 2011.

These include enhanced oil recovery, subsea technologies (including deepwater), unconventional oil reservoirs, ageing assets (including tail-end production), drilling and well intervention.

A programme of workshops is now being drawn up that will bring members together with the technology developer community at key locations around the globe during 2011 to help drive new groundbreaking technologies. The first on enhanced oil recovery will take place in Kuwait on February 7.

Neil Poxon, ITF’s managing director, said: “Our members seriously debated the big issues they are facing in safely extracting hydrocarbon reserves and it is clear there are some very pressing technology needs for 2011. We will be announcing some major opportunities for investment from our membership in new technologies that can get right to the heart of the challenges being experienced in the field.”

Through joint industry projects, ITF supports novel technology development and implementation funded by its members.

It has brought more than 160 new technologies to market and secured around £50 million investment from its member companies. (US$1= £0.65). It aims to secure a further £50 million from members to launch 40 joint industry projects per year by 2015.

ITF aims to open offices in the Middle East next year and Houston and Asia Pacific in early 2012, initially employing four additional staff to service these key growth regions.

Mr Poxon said: “There was a lot of discussion from our members around the particular challenges of deepwater drilling and the lessons being learned from Macondo in the Gulf of Mexico and these will be considered as part of our subsea technology challenge.

“The ITF model has been very successful in promoting collaborative research, development and deployment of new technologies and we have our sights set on further global growth. We have significantly grown our international membership and to be sustainable it is important that we have offices around the world to represent the spread and diversity of our member companies.”

Mr Poxon said: “North America is the world’s third largest oil and gas producer with Houston recognised as a centre for the industry and most of our members have operations there. The Gulf of Mexico and onshore provinces are technologically challenging with deep water, tight gas, heavy oil, arctic and unconventional resources and members see the ITF process as key to solving some of these issues.

“We also intend to establish offices in Kuala Lumpur, Malaysia and Perth, Australia which will both be serviced with the appointment of key ITF personnel. There are a number of other important regions for the industry including China, South America and the former Soviet Union and we will continue to monitor these areas closely to enable market development at the right time.

“It is an exciting time for ITF and the feedback that we had from our members gives us great confidence about their support for collaborating on new technology development and our plans for future growth.”

SINGAPORE: Shipbuilder STX OSV pays S$6.6 million for remaining 30% of Vietnam subsidiary

(EnergyAsia, December 27 2010, Monday) — STX OSV Holdings Limited, a world leading designer and builder of offshore and specialised vessels, said it will fully own a Vietnam subsidiary after agreeing to acquire the remaining 30% stake by year-end. The Singapore Exchange-listed company said it will buy out Amanda Shipyards Pte Ltd’s stake in STX…

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SINGAPORE: A*STAR, universities to develop R&D capabilities for marine and offshore industry

(EnergyAsia, December 27 2010, Monday) — Singapore’s leading science agency, Agency for Science, Technology and Research (A*STAR), will be initiating research and development (R&D) in oil and gas equipment to strengthen Singapore’s marine and offshore industry. Announcing this S$30 million investment, S. Iswaran, Senior Minister of State for Trade and Industry and Education, said the…

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RUSSIA: Gazprom expects to produce 570-580 bcm of gas by 2015

(EnergyAsia, December 27 2010, Monday) — In response to rising domestic and export demand, Russian gas giant Gazprom said it is gearing up to produce up between 570 and 580 billion cubic metres (bcm) of gas a year by 2015. The company is also planning to increase the daily throughput capacity of its underground gas…

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UPSTREAM: ODS-Petrodata sees 50 floating rigs entering market over next two years

(EnergyAsia, December 27 2010, Monday) — The global oil rig market could see an influx of as many as 50 rigs over the next 24 months if most of the idle US Gulf of Mexico fleet resume operations, said ODS-Petrodata, the US provider of market intelligence for the upstream oil and gas industry. The ultra-deepwater…

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CHINA: CNPC, PetroChina complete crude oil storage terminals

(EnergyAsia, December 27 2010, Monday) — China National Petroleum Corp (CNPC) and its subsidiary PetroChina have each completed the new crude oil storage tanks in different parts of the country. Earlier this month, CNPC completed a 980-million-yuan terminal in the northern port city of Tianjin that has the capacity to store one million cubic metres…

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