COMPANIES: Teekay-Marubeni JV to acquire Maersk’s LNG fleet for US$1.4 billion

(EnergyAsia, October 31 2011, Monday) — Canada’s maritime transport group Teekay LNG and Japanese trading house Marubeni Corp have agreed to jointly buy Danish shipping group AP Moller-Maersk’s liquefied natural gas (LNG) shipping subsidiary for US$1.402 billion. In separate statements, the companies said the new joint venture firm will fully acquire six of the subsidiary’s (more…)

MIDDLE EAST: UAE, Saudi Arabia, Qatar, Kuwait gained from Arab Spring, Libya, Egypt, Syria lost, says study

(EnergyAsia, October 31 2011, Friday) — It pays to be politically aligned to the West if you’re a major oil and gas producer, according to a study by consultant Geopolicity. Its latest research found that the economies of the region’s most important Western allies, UAE, Saudi Arabia, Qatar and Kuwait, benefitted significantly from high oil...

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JAPAN: MHI to build first “Sayaendo” new-generation LNG carriers

(EnergyAsia, October 31 2011, Monday) — Japan’s Mitsubishi Heavy Industries Ltd (MHI) said it has secured a deal to build two new-generation liquefied natural gas (LNG) carriers for two leading Japanese shipping firms. MHI said it will deliver the first of the “Sayaendo” series carriers to Osaka Gas Co Ltd’s Osaka Gas International Transport Inc...

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CANADA: Kitimat LNG receive National Energy Board’s export licence

(EnergyAsia, October 31 2011, Monday) — The Kitimat LNG consortium said it has been granted a 20-year licence by Canada’s National Energy Board (NEB) to export liquefied natural gas (LNG) to international markets. Apache Canada Ltd, a subsidiary of US Apache Corp, EOG Resources Canada Inc and Encana Corporation will build the Kitimat LNG export...

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CANADA: Shell and partners advance plans to export LNG to Asia from Kitimat

(EnergyAsia, October 31 2011, Monday) — Royal Dutch Shell and its partners have purchased an abandoned methanol plant site at Kitimat in western Canada as part of their long-term plan to develop and export liquefied natural gas (LNG) to Asia. The consortium comprising Shell, Mitsubishi Corp, Korea Gas Corp and Chinese National Petroleum Corp (CNPC)...

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THAILAND: Chevron starts producing natural gas from offshore Platong II project

(EnergyAsia, October 28 2011, Friday) — US major Chevron Corp said its Thailand subsidiary has started producing natural gas from the Platong II project in the Gulf of Thailand. The US$3.1 billion project is expected to raise production of natural gas to 330 million cubic feet per day and of natural gas liquids to 18,000 (more…)

MARKETS: OPEC expects world oil use to rise by 900,000 b/d in 2011, 1.2 million b/d in 2012

(EnergyAsia, October 28 2011, Friday) — The Organisation of Petroleum Exporting Countries (OPEC) expects world oil demand to increase by 900,000 b/d to 87.81 million in 2011 and 1.19 million b/d to 89.01 million b/d next year. Reflecting the deterioration in the global economic environment, OPEC’s latest monthly forecast represents a downgrade from its previous...

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AUSTRALIA: EFIC supports financing of Wiggins Island coal export terminal

(EnergyAsia, October 28 2011, Friday) — Australia’s Export Finance and Insurance Corporation (EFIC) said it is providing a US$100 million export finance guarantee to support senior secured loan facilities of A$3 billion for the construction and operation of the Wiggins Island Coal Export Terminal (WICET) in the Port of Gladstone in Queensland state. (US$1=A$0.95). The...

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CONFERENCES: OxfordPrinceton’s upcoming courses for energy professionals in Singapore

(EnergyAsia, October 27 2011, Thursday) — OxfordPrinceton is organising the following courses for energy professionals in Singapore in November. Front to Back Office: Trading Controls and Best Practices (FTBO) on November 14. This fascinating and interactive workshop will give delegates a thorough understanding of best practice controls to be applied in commodity trading activities. Delegates (more…)

VIETNAM: Petrolimex, South Korea’s Daelim continue talks to build country’s third oil refinery

(EnergyAsia, October 27 2011, Thursday) — Vietnam’s state-owned Petrolimex and South Korea’s Daelim Industrial Co Ltd remain in talks to build the Southeast Asian country’s third oil refinery. Petrolimex said it would retain a 60% stake in the proposed 200,000 b/d refinery which it expects to start up by 2015 although Daelim has revealed that...

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MARKETS: IEA expects world oil demand to rise by one million b/d in 2011, 1.3 million b/d in 2012

(EnergyAsia, October 27 2011, Thursday) — World oil demand will rise by one million b/d to 89.2 million b/d in 2011 and 1.3 million b/d to 90.5 million b/d next year, according to the latest monthly forecast by the International Energy Agency (IEA). Almost all the demand growth will come from the emerging economies led...

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MARKETS: Oil at three month-high on growing world demand, higher prices ahead on tight supply

(EnergyAsia, October 27 2011, Thursday) — The western economies are in decline, but oil prices surged this week to a three-month high as world demand continues to grow while supply is seen tightening going into 2012. Brent held strong in the US$110-$115 range while US WTI broke through US$90 after being held back at US$80-85...

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CHINA: September oil use at lowest level for the year, crude imports down 12.2%

(EnergyAsia, October 27 2011, Thursday) — As a sign of its cooling economy, China’s September oil demand fell to their lowest level for 2011 while its crude imports plunged 12.2% from year-ago levels. According to US energy media Platts, China’s oil demand grew just 3.1% year-on-year to 36.63 million metric tons (mt), or 8.95 million...

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SINGAPORE: Greenlots collaborating on EV charging infrastructure with Malaysia’s Proton and research with eHub

(EnergyAsia, October 25 2011, Tuesday) — Greenlots, a Singapore-based global provider of charging solutions for electric vehicles (EVs), said it has begun a landmark electric vehicle trial in collaboration with Malaysian car manufacturer Proton Holdings Berhad. Last month, Proton’s group managing director, Syed Zainal Abidin Syed Mohamed Tahir, handed over to the Malaysian government eight (more…)

CHINA: MTM Metalizing coating China Power Station plant in Hong Kong

(EnergyAsia, October 25 2011, Tuesday) — MTM Metalizing, a world leading US-based thermal spray coating provider, said it will be carrying out thermal spray aluminium (TSA) coating works for China Power Station in Hong Kong on a sub-contract awarded by Leighton Contractors (Asia). MTM Metalizing will provide TSA coating on three pipelines and fittings to (more…)

RUSSIA: Oil exports continue to decline despite increase in production

(EnergyAsia, October 25 2011, Tuesday) — While rising Russian oil production has been capturing headlines, the more important statistic for world markets is that exports have been declining. For the first nine months of 2011, Russian oil exports have fallen by 2.13% to around 180.4 million metric tons or 4.858 million b/d as a result...

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INDIA: State oil refiners seek 140 billion rupees in subsidy for July-Sept quarter

(EnergyAsia, October 25 2011, Tuesday) — India’s state oil refining companies have applied to the government to be reimbursed for a total of 140 billion rupees in fuel subsidies for the July-September quarter. (US$1=49 rupees). As part of the Indian government’s attempts to control inflation, the refiners have been selling liquefied petroleum gas, diesel and...

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SAUDI ARABIA: Export surplus dwindles in the face of rising domestic demand

(EnergyAsia, October 24 2011, Monday) — Saudi Arabia’s role as the world’s largest oil exporter will shrink over the coming years on sharply rising domestic consumption even as it promises to raise production. Recently, Riyadh-based Jadwa Investment issued a study projecting the kingdom’s crude oil exports to fall to 6.3 million b/d in 2015 and...

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SAUDI ARABIA: Renewed fears over political stability on internal power struggles, tensions with Iran

(EnergyAsia, October 24 2011, Monday) — The political stability of the world’s largest oil exporter and critical US ally are once again in focus following last week’s death of the heir to the Saudi throne to follow on reports of growing bilateral tensions with long-time Middle East rival Iran. Crown Prince Sultan bin Abdul-Aziz Al...

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MARKETS: Wood Mackenzie sees further growth, bright future for global oil and gas sector

(EnergyAsia, October 24 2011, Monday) — Consultant Wood Mackenzie sees “strong, prospective” growth for the global upstream oil and gas sector, forecasting its value to rise by 23% over last year. In a recent report titled “The changing face of upstream value”, Wood Mackenzie valued the sector at approximately US$3.2 trillion, not including exploration acreage or...

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OMAN: State-owned companies aim to raise refining capacity to 500,000 b/d by 2017

(EnergyAsia, October 24 2011, Monday) — Oman could more than double its existing 222,000 b/d of refining capacity to 500,000 b/d later this decade if two state-owned companies follow through on their plans. Oman Oil Company and Abu Dhabi’s International Petroleum Investment Company (IPIC) are planning to jointly invest US$6 billion in building a 230,000 b/d...

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CONFERENCE: O.W. Bunker’s free Oct 31 seminar to help shipowners and operators manage regulation transition

(EnergyAsia, October 24 2011, Monday) — OW Bunker, one of the world’s leading suppliers and traders of bunker fuel, is inviting shipowners and operators to its October 31 seminar focusing on the challenges posed by the start of sulphur emission regulations in Emissions Control Areas (ECAs) around the world in 2015. Experts will share their (more…)

WORLD: Earth Policy calls for steps to “voluntarily stabilise” human population to check poverty, hunger, environmental destruction

(EnergyAsia, October 21 2011, Friday) — The following is an edited version of an essay by Brigid Fitzgerald Reading of the Earth Policy Institute in Washington DC, USA. The number of people in the world is expected to reach seven billion by the end of this month. Our rate of increase continues to slow from (more…)