Archive | July, 2012

MARKETS: Frost & Sullivan on opportunities for coal-fired power in emerging economies

(EnergyAsia, July 31 2012, Tuesday) — Over the next 25 years, the world will become significantly more dependent on electricity produced from various sources including coal to meet its energy needs. In a new report, consultant Frost & Sullivan has forecast global electricity generation to grow from 21,224 terawatt hours (TWh) in 2010 to 33,370 […]

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RUSSIA: Focus on developing Arctic reserves to arrest decline in nation’s oil and gas reserves

(EnergyAsia, July 31 2012, Tuesday) — Russia will undertake an expensive and challenging venture into its Arctic region to counter the declining production from several of its major oil and gas fields, according to a report by UK-based business intelligence providers GlobalData. The Russian government has deemed it necessary to tap the Arctic as part […]

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CHINA: Oil companies looking abroad for downstream opportunities

(EnergyAsia, July 30 2012, Monday) — PetroChina’s pursuit of a stake in a proposed refinery in Ecuador shows that Chinese oil companies are looking to expand their downstream as well as upstream presence abroad, said UK consulting firm GlobalData. While discussions with the Ecuadoran government, PetroEcuador and Petroleos de Venezuela have just started, PetroChina is […]

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CHINA: Sinopec to acquire North Sea assets for US$1.5 billion, while CNOOC, CNPC sign deals with Shell

(EnergyAsia, July 30 2012, Monday) — A Sinopec subsidiary has agreed to partner Talisman Energy to develop the Canadian firm’s North Sea assets while two other Chinese state-owned companies, CNOOC and CNPC, have signed upstream agreements with Royal Dutch Shell. Sinopec International Petroleum Exploration and Production Corp will pay US$1.5 billion to acquire a 49% […]

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SHIPS: Wartsila to supply engines for China’s first LNG-powered tugs and Kuwait oil tankers

(EnergyAsia, July 27 2012, Friday) — Wartsila, the Finland-based marine industry’s leading solutions and services provider, said it will be supplying engines for vessels built for the subsidiaries of state-owned China National Offshore Oil Corp (CNOOC) and Kuwait Petroleum Corp (KPC). Wartsila will supply the main engines for the first liquefied natural gas-fuelled (LNG) two […]

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IRAQ: Alstom Grid wins contracts to reinforce Kurdistan’s electricity network

(EnergyAsia, July 27 2012, Friday) — Alstom Grid said it has secured contracts worth €34 million to supply and instal four 132/33/11 kV air-insulated switchgear (AIS) substations and one 132/33/11 kV gas-insulated switchgear (GIS) substation by September 2013 for the Kurdistan Regional Government Ministry of Electricity in Iraq. The scope of work includes engineering, equipment […]

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SINGAPORE: Afton Chemical to build new manufacturing plant on Jurong Island

(EnergyAsia, July 26 2012, Thursday) — US petroleum additives manufacturer Afton Chemical Corporation said it will invest “in excess of US$100 million” to build a new chemical additive plant on Singapore’s Jurong Island. Afton Chemical, a member of NYSE-listed NewMarket Corp, said it expects to begin construction in the third quarter of 2013 with the […]

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