SHIPPING: INTERTANKO focuses on tanker industry sustainability, air emissions and piracy

(EnergyAsia, October 21 2011, Friday) — The association representing most of the world’s oil tanker owners recently discussed the issues of the industry’s sustainability amid depressed market conditions, air emissions and the growing threat of piracy. Intertanko said its council is deeply concerned with the depressed state of the market as tanker rates remain below (more…)

AUSTRALIA: Origin Energy raised US$500 million through senior unsecured notes in the US

(EnergyAsia, October 21 2011, Friday) — Australia’s Origin Energy Limited said it has raised US$500 million through an unsecured notes offering in the US that will be due October 14 2021 while paying a coupon rate of 5.45%. The successful placement will help fund the company’s joint-venture project to convert coal seam gas (CSG) to (more…)

AUSTRALIA: Darwin, Northern Territory suffered fuel shortages following Singapore refinery fire

(EnergyAsia, October 21 2011, Friday) — Australia’s Northern Territory (NT) state briefly experienced diesel shortages after fire damaged a major oil refinery in Singapore last month. The capital city of Darwin “lost” at least one shipment after the September 28 fire forced Shell to shut down its 500,000 b/d refinery on Bukom Island for several...

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CHINA: Sinochem, Honeywell JV to produce energy-efficient and environmentally-friendlier materials for Asia

(EnergyAsia, October 20 2011, Thursday) — US engineering giant Honeywell said it and China’s Sinochem Group have agreed to form an equal joint venture in China to produce and sell blowing agents for energy efficient foam insulation to meet growing demand in Asia for energy efficient and environmentally friendlier materials. The proposed joint venture, to (more…)

SOUTHEAST ASIA: Wood Mackenzie says region need to invest at least US$125 billion in power sector by 2020

(EnergyAsia, October 20 2011, Thursday) — Southeast Asia will need to invest at least US$125 billion in its power generation sector by 2020 to keep pace with the “aggressive” growth of its power demand, said UK consultant Wood Mackenzie. The company examined the region’s demand hotspots of Java-Bali and Sumatra in Indonesia, Peninsular Malaysia, Singapore, (more…)

IRAQ: Singapore-based Leighton awarded US$518 million contract to build export terminal

(EnergyAsia, October 20 2011, Thursday) — Australian engineering firm Leighton said its Singapore-based subsidiary, Leighton Offshore Pte Ltd, has been awarded a US$518 million contract to build Iraq’s fourth crude oil export terminal. Leighton, the Australian unit of Germany construction group Hochtief, will build a single point mooring buoy (SPM) to export up to 900,000...

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CANADA: Black & Veatch to provide technology for terminal to export LNG to Asia

(EnergyAsia, October 20 2011, Thursday) — US engineering firm Black & Veatch said it has begun front-end engineering design (FEED) for a new terminal to export liquefied natural gas (LNG) from Kitimat port on the west coast of Canada’s British Columbia province. The terminal will be constructed on a barge and transported to the Douglas...

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ASIA: Argus launched new LNG price assessments

(EnergyAsia, October 20 2011, Thursday) — Argus has launched a new series of price assessments in its LNG daily report covering emerging Asian trading hubs since October 3. The new assessments include destinations for Northeast Asia, comprising Japan, South Korea and Taiwan, China and India, as well as fob markets from Australia, Middle East fob...

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INDIA: Foster Wheeler awarded contract for four circulating fluidised-bed steam generators

(EnergyAsia, October 19 2011, Wednesday) —Foster Wheeler AG said a subsidiary of its Global Power Group has been awarded a contract to design and supply four circulating fluidised-bed (CFB) steam generators for Essar Power Salaya Limited in India, the project’s owner and developer. Switzerland-based Foster Wheeler, which declined to reveal the contract’s value, said it...

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JAPAN: New oil stockpile plans taking shape

(EnergyAsia, October 19 2011, Wednesday) — The Japanese government is revamping its oil stockpile system to ensure that fuel supplies reach stricken areas in the event of emergencies or natural disaster following lessons learnt from the March 11 earthquake and tsunami disaster. There were reports of prolonged and widespread gasoline and diesel shortages in many...

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VIETNAM: Petrovietnam to start constructing Nghi Son refinery this quarter

(EnergyAsia, October 19 2011, Wednesday) — State-owned PetroVietnam said it expects to start construction of the nation’s second oil refinery in Nghi Son sometime this quarter. Construction of the joint venture 200,800-b/d refinery, located , 215 km south of Hanoi, was to have started early this year, but was delayed by land clearance and preparation...

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SINGAPORE: EMA launched national energy statistics

(EnergyAsia, October 19 2011, Wednesday) — In a long overdue move, the Energy Market Authority (EMA) has released Singapore’s first official publication on its energy statistics. The Singapore Energy Statistics (SES) is an annual publication containing the country’s key energy supply and consumption statistics, and prices, as well as trends in the electricity and gas (more…)

MALAYSIA: Singapore’s CAO to invest in greenfield oil storage terminal in Johor

(EnergyAsia, October 18 2011, Tuesday) — China Aviation Oil (Singapore) Corporation Ltd (CAO), Asia’s largest physical jet fuel trader, has teamed up with Malaysia’s Centralised Terminals Sdn Bhd (CTSB) to construct, develop and operate a RM371-million oil products storage terminal at the Port of Tanjung Langsat in Malaysia’s Johor state. (US$1=RM3.1). CAO said it will acquire...

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MALAYSIA: Finance Ministry predicts higher oil and gas output in 2012

(EnergyAsia, October 18 2011, Tuesday) — Malaysia expects to raise its crude oil and natural gas production next year, bolstering its economic outlook amid growing concerns with the deteriorating global economic environment. In its latest Economic Report for 2011/12, the Finance Ministry said it expects the country’s crude oil production to rise 3.3% to 620,000...

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SINGAPORE: IEV, offshore engineering and clean energy solutions provider, to raise S$8.7 million in share offering

(EnergyAsia, October 18 2011, Tuesday) — IEV, a provider of integrated offshore engineering and clean energy solutions, is targeting to raise S$8.7 million in a public share offering on the Singapore Exchange. (US$1=S$1.26). The company said its offer of 37 million at S$0.30 each will close on October 21. After expenses, it expects to raise (more…)

PEOPLE: Chromalloy appoints Luzzatto as new President to lead expansion

(EnergyAsia, October 18 2011, Tuesday) — Chromalloy, a leading producer of turbine engine repairs and advanced coatings, has appointed Carlo Luzzatto as President to lead its expansion in the aerospace and industrial gas turbine (IGT) markets. Mr Luzzatto, a seasoned energy industry business leader, joined from Ansaldo Energia, a division of the Italian conglomerate Finmeccanica (more…)

SINGAPORE: ASL Marine Holdings secured shipbuilding contracts worth a total of S$267 million

(EnergyAsia, October 17 2011, Monday) — Singapore’s ASL Marine Holdings Ltd said ts wholly-owned subsidiary ASL Shipyard Pte Ltd has secured contracts worth a total of S$267 million to build five vessels mostly for offshore oil and gas support work over the next three years. (US$1=S$1.28). ASL Marime will deliver two barges in 2012, two (more…)

MARKETS: Lessons for oil and gas security from Libya’s revolution, by Securing America’s Future Energy (SAFE)

(EnergyAsia, October 17 2011, Monday) — The following is an edited version of an analysis by the Securing America’s Future Energy (SAFE) study group. With fighting in Libya now near an end, some observers may say that since the Arab spring has sprung three new North African democracies (Egypt, Tunisia and Libya) upon the world, (more…)

SOUTH KOREA: Hyundai Oilbank diversifying into commercial oil storage

(EnergyAsia, October 17 2011, Monday) — South Korea’s Hyundai Oilbank said it has started work on a 100-billion won commercial oil terminal with the capacity to store 300,000 kilolitres of oil products. (US$1=1,150 won). To be completed in late 2013, the terminal will be supported by port infrastructure and linked to the company’s refining hub...

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SINGAPORE: Planners say economy faces slow growth for “several years” on global headwinds

(EnergyAsia, October17 2011, Monday) — Singapore’s planners say the economy faces “several years” of slow growth on account of strong headwinds created by the deteriorating global economy. With the major advanced economies unlikely to recover, the Ministries of Trade and Industry (MTI), and Finance (MOF) and the Monetary Authority of Singapore (MAS) are preparing the...

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INDIA: Reliance Industries Q2 net up 16% on refining gains

(EnergyAsia, October 17 2011, Monday) — India’s Reliance Industries Ltd (RIL) said the strong performance at its world’s largest Jamnagar refinery complex in Gujarat state helped boost its second quarter profit by 15.8% to 57.03 billion rupees over the same period last year. (US$1=49 rupees). For the July to September quarter, the 1.2-million b/d complex’s...

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CHINA: Blackgold acquires Qijiang Changhong Coal in Chongqing province for 98 million yuan

(EnergyAsia, October 14 2011, Friday) — Australia’s Blackgold International Holdings Limited said it has agreed to fully acquire Qijiang Changhong Coal Industry Co Ltd which owns the mining rights to the QiJiang ChangHong coal mine situated in Qijiang County in China’s Chongqing province. The proposed 98 million yuan acquisition was completed after Blackgold said it...

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CHINA: Winsway and US Peabody to expand relationship by jointly marketing coal in Asia

(EnergyAsia, October 14 2011, Friday) — Hong-Kong-listed Winsway Coking Coal Holdings said it and US coal trader and producer Peabody Energy Corp have signed a non-legally binding memorandum of understanding to establish a joint venture to market coal in China and the Asia Pacific region. As a step forward to enhancing their existing relationship, Winsway...

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INDONESIA: Adaro to pay 200 billion rupiah for 35% stake in Sumatra coal mining services provider

(EnergyAsia, October 14 2011, Friday) — Indonesian coal miner PT Adaro Energy said its subsidiary, PT Alam Tri Abadi (ATA), has agreed to acquire a 35% interest in a Sumatra Island coal mining services provider from PT Servo Infrastructure (SI) for 200 billion rupiah. (US$1=8,900 rupiah). Through its subsidiaries, SMS owns a dedicated haul road...

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SINGAPORE: Environment Ministry on enhancing energy efficiency, reducing waste and dealing with climate issues

(EnergyAsia, October 14 2011, Friday) — The Singapore government will work towards enhancing the country’s energy efficiency, reducing waste and dealing with climate change issues as part of its long-term goal of creating a sustainable and clean society. The pledge, which described Singapore’s high quality environment as a source of competitive advantage, was made by (more…)