MALAYSIA: Dialog, Vopak aim to start up 1.3-million cbm storage terminal by early 2014

(EnergyAsia, April 30 2012, Monday) — A Malaysian-Dutch consortium expects to complete the RM1.9-billion first phase of its oil storage terminal in Johor state by early 2014 that will include Southeast Asia’s first independent facility to handle crude oil. (US$1=RM3.05). Owned by Malaysian engineering company Dialog Group, Royal Vopak of the Netherlands and the Johor (more…)

MARKETS: IEA expects oil prices to remain high despite rising global production, stockbuild

(EnergyAsia, April 30 2012, Monday) — World oil markets are starting to ease on rising OPEC production and the implied build-up of global stockpile to 1.2 million b/d for the first quarter, said the International Energy Agency (IEA). Gains in Saudi Arabia-led OPEC production to 31.4 million b/d in March and lower consumption in the...

This article is for Subscriber members only.
Log In Register

CHINA: CNPC, PDVSA starts work on joint oil refinery in southern Guangdong province

(EnergyAsia, April 30 2012, Monday) — China National Petroleum Corp (CNPC) and Venezuela’s state PDVSA have started work on building a 400,000 b/d oil refinery in Jieyang in China’s southern Guangdong province. The US$8.3-billion refinery, the first of three proposed between the two countries, will process heavy Venezuelan crude oil when it starts operating in...

This article is for Subscriber members only.
Log In Register

SINGAPORE: Jurong Port to be redeveloped into oil and chemical storage terminal

(EnergyAsia, April 27 2012, Friday) — Singapore is looking to redevelop the general bulk handling Jurong Port into the more lucrative business of storing, handling and blending oil products and chemicals. Located just north of the oil and chemicals hub of Jurong Island, Jurong Port could be turned into a terminal to store up to...

This article is for Subscriber members only.
Log In Register

INDIA: Government looking to set up US$10 billion strategic energy fund

(EnergyAsia, April 27 2012, Friday) — Following the example of China, the Indian government is looking to launch a US$10 billion strategic fund to secure long-term supplies of energy and raw materials to support the country’s economic growth. As a net importer of oil, gas and coal, and most raw materials, India often finds itself...

This article is for Subscriber members only.
Log In Register

INDIA: Denied diesel price hike, oil refiners seek additional compensation of 400 billion rupees

(EnergyAsia, April 27 2012, Friday) — India’s long-suffering oil refiners are seeking an additional cash compensation of 400 billion rupees from the government to continue producing and selling fuel to domestic customers at a loss. (US$1=51 rupees). The government has repeatedly rejected the refiners’ request to raise fuel prices to reduce their operating losses from...

This article is for Subscriber members only.
Log In Register

SINGAPORE: China Aviation Oil secures US$125 million syndicated loan from five banks

(EnergyAsia, April 27 2012, Friday) — China Aviation Oil (Singapore) Corporation Ltd (CAO), Asia’s largest physical jet fuel trader, said it has secured a revolving debt facility for US$125 million from a syndicate of the Singapore branch of five major banks. Known as book-running mandated lead arrangers (BMLAs), ABN AMRO Bank NV, ANZ Bank, Bank (more…)

CHINA: Black & Veatch’s technology to be used in LNG import terminal

(EnergyAsia, April 27 2012, Friday) — Two US engineering firms, Black & Veatch and Chemtex, have been selected by Jilin Qianyuan Energy Development to deliver a major liquefied natural gas (LNG) import terminal in north-eastern China by late 2013. Black & Veatch said the 500,000 normal cubic metres/day plant will feature its patented PRICO® LNG (more…)

OMAN: Government pushes ahead with nearly US$8 billion of refinery projects

(EnergyAsia, April 26 2012, Thursday) — Ignoring the drumbeat of geopolitical tensions and military conflict in the region, the Omani government is pressing ahead with plans to invest nearly US$8 billion to build a new refinery at Duqm and expand an existing plant at Sohar. State-owned Oman Oil Company (OOC) and the Abu Dhabi-based International...

This article is for Subscriber members only.
Log In Register

INDIA: Essar Oil, Hindustan Mittal operating new refining units

(EnergyAsia, April 26 2012, Thursday) — Essar Oil Ltd and Hindustan Mittal Energy Ltd said they have begun operating their recently completed new refinery units in India. Essar Oil said it has started up a delayed coker unit as part of the US$1.8 billion expansion of its Vadinar refinery in Gujarat state while Hindustan Mittal...

This article is for Subscriber members only.
Log In Register

ASIA: ADB says growth of developing economies “subdued but steady”

(EnergyAsia, April 26 2012, Thursday) — Weak global demand will weigh on Asia’s developing economies in 2012 but growth rates in most economies remain robust and should tick back up in 2013 with private consumption providing support, the Asian Development Bank (ADB) said in its latest annual economic report. In its Asian Development Outlook 2012 (more…)

NEW ZEALAND: Oil refining company set to invest NZ$365 million in new platformer unit

(EnergyAsia, April 26 2012, Thursday) — Shareholders of New Zealand’s only oil refinery are expected to approve its proposal to invest NZ$365 million in building a new unit to process crude into gasoline, kerosene and diesel. (US$1=NZ$1.23). Shareholders are expected to vote in favour of the continuous catalyst regeneration platformer (CCR) project at The New (more…)

SINGAPORE: Sembcorp opens S$34 million waste-to-energy (WTE) plant on Jurong Island

(EnergyAsia, April 25 2012, Wednesday) — Sembcorp Industries yesterday officially started up a S$34 million woodchip-fuelled biomass steam production plant on Singapore’s Jurong Island as part of its offering to supply sustainable and competitive energy to customers. (US$1=S$1.25). Sembcorp said its first waste-to-energy (WTE) plant in Singapore produces 20 tonnes per hour of steam using (more…)

MIDDLE EAST: Petrochemical feedstock supply affected by natural gas scarcity, says consultant GlobalData

(EnergyAsia, April 25 2012, Wednesday) — Securing natural gas feedstock in the Middle East has become increasingly difficult in the last few years, threatening the region’s dominance as the most economical petrochemicals producer, according to a new report by business intelligence company GlobalData. The report said the Middle East is facing a natural gas scarcity (more…)

JAPAN: Consortium to build experimental offshore floating wind farm project off Fukushima

(EnergyAsia, April 25 2012, Wednesday) — A Japanese consortium led by Marubeni Corp has started work to develop an experimental offshore floating wind farm project off the coast of Fukushima, the site of the nculear plant that was damaged by earthquake and tsunami last year. Sponsored by the Ministry of Economy, Trade and Industry, the (more…)

IRAN: Refineries, oil facilities targeted by hackers and computer viruses

(EnergyAsia, April 25 2012, Wednesday) — The Iranian government has cut off Internet access to six of the country’s oil refineries after it came under attacks from hackers and computer viruses. According to the Iranian Mehr News Agency, the attacks launched against the refineries, the Oil Ministry, the National Iranian Oil Company and the country’s (more…)

CHINA: Platts says March oil demand showed mixed performance, up 2.2% in Q1

(EnergyAsia, April 25 2012, Wednesday) — China’s oil demand turned in a mixed performance for March, rising year-on-year, but down from February, said energy media specialist Platts. Its analysis of government data showed that Chinese oil demand rose 3.3% from year-ago levels to 40.23 million metric tons (mt), or 9.5 million b/d. But, this was (more…)

MIDDLE EAST: IMF says high oil prices putting importers “under strain” while exporters “faring well”

(EnergyAsia, April 24 2012, Tuesday) — The oil importers of the Middle East need help as they have been additionally put “under strain” by high oil prices amid the new political and social pressures brought on by the Arab Spring, said the International Monetary Fund (IMF). With crude oil price projected to average US$115 a...

This article is for Subscriber members only.
Log In Register

DUBAI: ENOC’s Horizon Terminals to build bulk oil terminal in Jebel Ali

(EnergyAsia, April 24 2012, Tuesday) — Dubai’s ENOC said its wholly-owned subsidiary, Horizon Terminals Ltd, will build a 141,000-cubic metre bulk oil terminal in the Jebel Ali Free Zone and a 60-km jet fuel pipeline linking it to the Dubai International Airport. Horizon Terminals has awarded the engineering, procurement and construction contract to Indian construction (more…)

INDIA: Strategic crude oil stockpile could be expanded to over 17 million tonnes

(EnergyAsia, April 24 2012, Tuesday) — The Indian government is considering boosting the size of the country’s strategic crude oil stockpile to over 17.8 million tonnes from the current target of 5.33 million tonnes. With state Indian Strategic Petroleum Reserves Ltd (ISPRL) expected to complete building storage terminals at Vishkhapatnam, Mangalore and Padur in 2013...

This article is for Subscriber members only.
Log In Register

SINGAPORE: Keppel Energy signed up for additional 43 million cubic feet/day of gas import from Malaysia’s Petronas

(EnergyAsia, April 24 2012, Tuesday) — Singapore’s Keppel Corporation Limited said its wholly-owned subsidiary, Keppel Energy Pte Ltd, has signed an agreement with Malaysia state energy firm Petronas to import an additional 43 million cubic feet per day (mmcf/d) of natural gas. Based on historical oil prices, Keppel Energy said the additional supply, worth about (more…)

INDIA: Short-term diesel shortage looms as refineries shut down

(EnergyAsia, April 24 2012, Tuesday) — India faces a near-term shortfall of diesel following the unexpected loss of about 8% of its total refining capacity this month when two refineries were forced to shut down for several weeks. The 60,000 b/d Numaligarh refinery in Assam state remains idle after it was damaged by fire early...

This article is for Subscriber members only.
Log In Register

AUSTRALIA: BHP shuts Norwich Park coal mine “indefinitely“

(EnergyAsia, April 23 2012, Monday) — Australia’s BHP Billiton said it plans to indefinitely cease production at its loss-making joint-venture Norwich Park coal mine in central Queensland state that the Queensland Resources Council said could result in the loss of about A$1 billion worth of coal exports. (US$1=A$0.96). In a statement, the company said the...

This article is for Subscriber members only.
Log In Register