CHINA: Zhejiang Zhong Ao Energy and US Louis Dreyfus Highbridge Energy to jointly set up storage terminal

(EnergyAsia, December 22 2011, Thursday) — US-based Louis Dreyfus Highbridge Energy (LDH) LLC said it has established a joint venture with China’s Zhejiang Zhong Ao Energy Co Ltd, to construct an oil and petrochemical import-export terminal near  Shanghai city in China. Louis Dreyfus Zhong Ao Energy Co Ltd will develop the facility in Zhoushan City (more…)

IRAN: 2011 oil revenues expected to reach record of more than US$100 billion

(EnergyAsia, December 22 2011, Thursday) — Iran’s oil revenues have risen sharply in 2011 and will reach an all-time high of more than $100 billion for the year, according to estimates by US consultant IHS Cambridge Energy Research Associates (IHS CERA). At nearly a third higher than 2010, the revenue increase  has been the result...

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GAS: PwC study extols economic impact of shale development, fails to deal with water issues

(EnergyAsia, December 21 2011, Wednesday) — PwC has just issued a press release ( for a study predicting enormous economic benefits from developing America’s abundant shale gas reserves. Predictably, and unfortunately, it does not go into detail about fracking’s equally enormous negative and troubling impact on water rights and supply. The fracking method for extracting (more…)

KAZAKHSTAN: Domestic unrest could slow down government’s plans to develop economy, oil and gas projects

(EnergyAsia, December 21 2011, Wednesday) — Amid major celebrations of a breakthrough oil deal and its 20th anniversary of independence from Soviet rule on December 16, Kazakhstan was suddenly faced with the biggest outbreak of deadly anti-government violence in recent memory. As many as 50 people, including several retrenched oil workers, were reported killed during...

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MARKETS: OPEC expects world oil demand to grow by 900,000 b/d in 2011, 1.1 million b/d in 2012

(EnergyAsia, December 21 2011, Wednesday) — World oil consumption will rise by 900,000 b/d in 2011, and by 1.1 million b/d to 88.9 million b/d next year, said the Organisation of Petroleum Exporting Countries (OPEC) in its latest monthly forecast. Compared with last month’s forecast, the cartel has kept unchanged its expectations for world oil (more…)

THAILAND: Germany’s Conergy secures contract to build 9MW solar park

(EnergyAsia, December 21 2011, Wednesday) — Germany’s Conergy said it has been selected by CH Karnchang Public Company Limited to supply the components as well as jointly serve as the engineering and design consultants for its 9MW solar park in Thailand. Conergy will work closely with local partner Ensys Co Ltd who will provide the (more…)

UAE: SOCAR venture secures loan from Arab banks for oil terminal project in Fujairah

(EnergyAsia, December 21 2011, Wednesday) — Arab Petroleum Investments Corp (APICORP), a development bank owned by 10 Arab oil-producing nations, and National Bank of Fujairah PSC have agreed to lend the first tranche of a US$110 million loan for the construction of an oil storage terminal in Fujairah in the UAE. In a statement, APICORP, (more…)

ASIA: Central Asian states aim to develop gas reserves, increase exports

(EnergyAsia, December 20 2011, Tuesday) — Uzbekistan has proved natural gas reserves of three trillion cubic metres and probable reserves including the Caspian Sea shelf of 5.9 trillion cubic metres. Its main markets are Tajikistan, Kyrgyzstan, Kazakhstan, Russia and China, exporting nearly a quarter of its annual production of more than 60 billion cubic metres...

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CHINA: Domestic LNG production could triple by 2015

(EnergyAsia, December 20 2011, Tuesday) — China could triple its domestic production of liquefied natural gas (LNG) to 7.5 million tonnes a year by 2015, according to the China Petroleum and Chemical Industry Federation. The industry group said China now has more than 20 LNG production plants in operation and is building at least another...

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RUSSIA: Opposition to trans-Caspian gas pipeline projects increases

(EnergyAsia, December 20 2011, Tuesday) — Russia is stepping up its opposition to plans to develop pipelines to export oil and gas from Central Asia to Europe. While China has made significant progress in expanding pipeline access to oil and gas reserves in Turkmenistan, Kazakhstan and Uzbekistan, Russia appears more worried about the numerous proposed...

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AUSTRALIA: BP starts up bitumen and bunker storage terminal in Brisbane

(EnergyAsia, December 20 2011, Tuesday) — BP Australia has officially started up its new bitumen and marine fuel import terminal on the Brisbane River at Pinkenba in Queensland state. The marine fuel terminal comprises new tanks with the capacity to store 30,000 tonnes and a dedicated barge wharf supported by a new double-hulled bunker barge (more…)

SINGAPORE: JTC seeks operator for first phase of Jurong Island’s underground oil storage terminal

(EnergyAsia, December 20 2011, Tuesday) — Singapore state industrial landlord JTC Corporation (JTC) said it has launched a two-stage request for proposal (RFP) to engage an operator to manage and operate the first phase of the Jurong Rock Caverns (JRC), Southeast Asia’s first underground hydrocarbon storage facility. Located beneath Jurong Island, the cavern’s S$890 million (more…)

MARKETS: ESAI study focuses on seven trends impacting world oil markets in 2012-2013

(EnergyAsia, December 19 2011, Monday) — US energy consultant ESAI has released a study, Global Oil Trends 2012-2013, focusing on the impact of seven trends on the world oil markets in 2012 and 2013. These include refining capacity expansion, rising caution towards nuclear energy, tighter regulations on shipping carbon emissions, a slowdown in the supply (more…)

COMPANY: BDP names Richard Strollo managing director for South Asia

(EnergyAsia, December 19 2011, Monday) — Logistic specialist BDP International (BDP) has named Richard Strollo to the position of managing director for South Asia. BDP is a leading privately owned logistics firm, serving more than 4,000 customers globally including chemical and petrochemical companies. Mr Strollo will lead a team of more than 600 across six (more…)

MONGOLIA: MEC starts up new road to deliver coal to China

(EnergyAsia, December 19 2011, Monday) — Mongolia Energy Corporation (MEC) Limited said it has started delivering coal to China with the completion of a new 311-km road linking the Khushuut mine in Mongolia to Takeshensken in the Xinjiang region. Following last month’s official recognition of the project’s completion by Mongolia’s State Commission Inspection Committee, MEC (more…)

CHINA: Sinopec Kantons aims to become a major oil storage operator with proposed acquisitions in five terminal

(EnergyAsia, December 19 2011, Monday) — Sinopec Kantons Holding Ltd is aiming to become a major oil storage terminal owner and operator in Asia with its proposed acquisitions of stakes in five joint ventures from its parent China Petroleum & Chemical Corp (Sinopec). The Hong Kong Stock Exchange-listed company has announced that it will fund...

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AUSTRALIA: Caltex cuts profit forecasts, moves closer to ceasing oil refining

(EnergyAsia, December 19 2011, Monday) — Australia’s largest downstream oil company may follow the lead of its rivals to scrap its loss-making refinery operations following another warning of a large full-year profit downgrade. Caltex, which has already begun reviewing its refining business, expects its 2011 after-tax operating profit including significant items to fall to between (more…)

MARKETS: Fitch expects sustained M&A activity in Asian oil and gas sector in 2012

(EnergyAsia, December 16 2011, Friday) — US ratings agency Fitch said it expects merger-and-acquisition (M&A) activities to remain strong in Asia’s oil and gas sector in the coming year. In a new report, “2012 Outlook: Asia Oil & Gas”, Fitch Ratings said it is keeping its ‘stable’ rating on the sector even though sustained high...

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MARKETS: HIS says 2011 Brent crude price highest in 151-year history

(EnergyAsia, December 16 2011, Friday) — The annual average price of global crude benchmark Brent for 2011 is expected to be the highest in both real and nominal terms in the 151-year history of the industry, said US consultant HIS CERA. It expects Brent to average about $111 for the year at the end of...

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VIETNAM: PHI Group, Sao Nam Group to jointly build coal-fired power plant in Quang Tri province

(EnergyAsia, December 16 2011, Friday) — US-based energy and natural resources company PHI Group Inc said it has signed a memorandum of understanding with Sao Nam Group, a Vietnamese company engaged in energy, mining, real estate, and infrastructure, to build a coal-fired power plant in Hai Lang District in Vietnam’s southeast Quang Tri Economic Zone....

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INDONESIA: Ramba divests subsidiary to raise S$3.18 million for exploration works

(EnergyAsia, December 16 2011, Friday) — Singapore-based upstream company Ramba Energy Limited said it expects to raise S$3.18 million from the sale of shares in a subsidiary to finance its exploration of the Lemang block in southern Sumatra in Indonesia. (US$1=S$1.3). Ramba, which plans to start drilling the block in the first quarter of next (more…)

AUSTRALIA: China’s DADI completes A$24 million investment in MetroCoal

(EnergyAsia, December 16 2011, Friday) — China’s DADI Engineering Development (Group) Co Ltd has completed its acquisition of a 15.3% stake in Australia’s Metrocoal for A$24 million. (US$1=A$1). The Australian miner said the Chinese firm has fully paid for its purchase of 32 million of its ASX-listed shares at A$0.75 each. With Chinese regulators giving (more…)

SHIPPING: More vessels to use LNG as marine fuel, says consultant Zeus Development

(EnergyAsia, December 15 2011, Thursday) — Forty-eight carrier ships will soon be fuelled by liquefied natural gas (LNG), with more to follow, said consultant Zeus Development Corporation which will share this and other findings from its survey of the marine industry at an upcoming conference in Houston, Texas. The company will discuss the use of (more…)

KAZAKHSTAN: Government acquires 10% stake in Karachaganak project for US$3 billion

(EnergyAsia, December 15 2011, Thursday) — KazMunaiGas, the state-owned oil and gas company of Kazakhstan, has agreed to pay US$3 billion for a 10% stake in the country’s Karachaganak gas and condensate project in a landmark agreement to settle years of disputes with foreign investors. According to the consortium developing the project, KazMunaiGas (KMG) will (more…)

IRAQ: Engineering firm Shaw group to undertake feasibility study to rehabilitate 140,000 b/d refinery

(EnergyAsia, December 15 2011, Thursday) — The Shaw Group Inc, a US engineering company, said it has been awarded a contract by Iraq’s state-owned South Refineries Company to provide a feasibility study for the rehabilitation of its 140,000 b/d refinery in Basra city. The study will assess the refinery’s condition and estimate the engineering, equipment (more…)