Archive | November, 2011

MARKETS: Oil is at the heart of global imbalances and unsustainable development, says Bank of America

(EnergyAsia, November 30 2011, Wednesday) — Oil, not the financial markets, is the key driver of current account fluctuations and global economic dislocations, and is leading the world down an unsustainable path of development, according to the Bank of America Merrill Lynch. Oil will likely account for 96% of the US trade deficit this year and […]

Continue Reading 0

CHINA: Air Liquide to supply oxygen and nitrogen to Sinopec’s Maoming plant

(EnergyAsia, November 30 2011, Wednesday) — Air Liquide said it has secured a contract to supply China Petroleum and Chemical Corporation or Sinopec 200,000 normal cubic metre per hour (Nm3/h) of gaseous oxygen and nitrogen for use at its existing MPCC oil refinery in Maoming in China’s Guangdong province as well as an upcoming coal-to-hydrogen […]

Continue Reading 0

JAPAN: Inpex-led venture aims to produce, export LNG from Canadian shale gas project

(EnergyAsia, November 30 2011, Wednesday) — A Japanese consortium of upstream company Inpex and engineering firm JGC has agreed to pay C$700 million for a 40% stake in a shale gas prospect in Canada’s British Columbia province. Calgary, Alberta-based Nexen Inc retains a 60% stake and will continue to operate the project to extract and […]

Continue Reading 0

CHINA: CNOOC completes C$2.1 billion takeover of Opti Canada

(EnergyAsia, November 29 2011, Tuesday) — CNOOC Ltd, China’s leading offshore oil company, said it has completed its C$2.1 billion acquisition of Opti Canada Ltd, a financially stricken oilsands producer in Alberta province. The acquisition gives CNOOC a 35% stake in the Nexen-operated C$6.1-billion Long Lake oil sands project, which is producing below its 72,000 […]

Continue Reading 0

AUSTRALIA: Santos pulls out of coal seam gas pipeline project, warns of impact from possible moratorium

(EnergyAsia, November 29 2011, Tuesday) — In response to growing environmental pressures, one of Australia’s main local oil and gas companies said it is pulling out of a controversial gas pipeline project while warning that any attempts to delay or halt coal seam developments would hurt the industry and the economy. Addressing a Parliamentary inquiry, […]

Continue Reading 0

MARKETS: OPEC sees world oil demand rising 900,000 b/d in 2011, 1.2 million b/d in 2012

(EnergyAsia, November 29 2011, Tuesday) — Global oil demand is expected to rise by 900,000 b/d to 87.8 million b/d this year, and by 1.2 million b/d to 89 million b/d next year, according to the latest monthly forecast issued by the Organisation of Petroleum Exporting Countries (OPEC). In keeping unchanged its forecast for global […]

Continue Reading 0

AUSTRALIA: Government wants more research into coal seam gas and coal mining to “build” public confidence

(EnergyAsia, November 29 2011, Tuesday) — The Australian government said it will apply increased research and scientific investigations into the hydraulic fracturing, or fracking, method of gas production amid growing complaints in the country and around the world that it is causing water contamination and earthquakes. Prime Minister Julia Gillard said her government will provide […]

Continue Reading 0

Developed by Bowtie