SRI LANKA: Refinery operating again after brief shutdown from loss of Iranian crude

(EnergyAsia, November 30 2012, Friday) — Sri Lanka’s only oil refinery at Sapugaskanda near the capital city of Colombo resumed operations earlier this month after being forced to shut down for about two weeks on October 26. State-owned Ceylon Petroleum Corporation (CPC) said it had to halt operations at he 50,000 b/d refinery, which is (more…)

INDIA: Coal import bill could rise 25% to reach record US$18 billion by 2017

(EnergyAsia, November 30 2012, Friday) — India’s already hefty annual coal import bill could surge at least 25% over the next five years to a record US$18 billion, officials and traders warn. Unable to rely on domestic production to feed the country’s surging coal demand, India has seen its imports rise sharply over the last (more…)

MARKETS: North America to dramatically alter global energy balance, predicts IEA

(EnergyAsia, November 30 2012, Friday) — North America will dramatically change the global energy map as it sharply raises oil and gas production in coming decades, predicts the International Energy Agency (IEA) in its 2012 edition of the World Energy Outlook (WEO). “North America is at the forefront of a sweeping transformation in oil and (more…)

CHINA: Small refiners here to stay as they expand and plan on importing crude

(EnergyAsia, November 30 2012, Friday) — Far from being extinguished by official policy and competition from the large state-owned players, some of China’s small oil refineries are thriving as their owners plot expansion as well as take on a direct role in importing crude oil. The “teapot” refineries, each of less than 40,000 b/d in (more…)

US: Politics and LNG exports: What is the future of shale gas?

(EnergyAsia, November 29 2012, Thursday) — The following is an edited version of an article written by Susan L. Sakmar, Visiting Assistant Professor, and Andrews Kurth Energy Law Scholar, University of Houston Law Centre. It was first published by CWC News. The vast shale gas reserves that have been unlocked in the US have been (more…)

MARKETS: World refining capacity increased by more than 3 million b/d since 2008, says OPEC

(EnergyAsia, November 29 2012, Thursday) — The following is an edited version of an article on world oil refining outlook by the Organisation of Petroleum Exporting Countries. Since the 2008 financial crisis, global refinery throughput has increased by more than three million b/d, reflecting the improvement in world oil demand. This recovery in global oil (more…)

BANGLADESH: ADB extends US$700 million loan to help end “crippling” power shortages

(EnergyAsia, November 29 2012, Thursday) — The Asian Development Bank (ADB) said it is providing Bangladesh a US$700 million loan to enhance the country’s power supply system and help reduce outages and shortages that are crippling the economy. The ADB said the programme will boost the efficiency of several generating facilities to increase capacity by (more…)

CHINA: Growing ties with Iraq as Western majors offend Baghdad to pursue Kurdistan’s oil riches

(EnergyAsia, November 29 2012, Thursday) — Nearly a decade after the US military invasion of Iraq, launched presumably to take over the world’s second largest oil reserves among other reasons, it is China, an opponent of the ill-fated war, that has made some of the biggest gains. The various post-Saddam regimes have awarded Chinese state-owned (more…)

MARKETS: OPEC lowers forecasts for world oil demand growth for 2012 and 2013

(EnergyAsia, November 28 2012, Wednesday) — The Organisation of Petroleum Exporting Countries (OPEC) has slightly reduced its forecasts for global oil demand to grow to reach 88.80 million b/d in 2012 and 89.57 million b/d next year. In its latest monthly report, the cartel expects global oil demand to edge up by just 0.87% or (more…)

MARKETS: EIA further reduced forecast growth in world oil demand for 2012 and 2013

(EnergyAsia, November 28 2012, Wednesday) — The US Energy Information Administration (EIA) has once again reduced its forecast for global oil demand growth for 2012 and 2013. In its November short-term energy outlook, the agency expects world demand to grow by 750,000 b/d this year, down from last month’s forecast of 790,000 b/d, to reach (more…)

INDIA: ONGC unit to make biggest acquisition with proposed US$5 billion takeover of ConocoPhillips’ Kazakhstan stake

(EnergyAsia, November 28 2012, Wednesday) — State-owned ONGC Videsh Ltd (OVL) has launched India’s biggest acquisition of overseas oil and gas assets with its agreement to buy ConocoPhillips’ 8.4% stake in a Kazakhstan oil field for US$5 billion. The proposed sale of the US firm’s stake in the giant Kashagan field is expected to meet (more…)

INDIA: HPCL shifts terminal to Ennore, IOC to build new depot

(EnergyAsia, November 28 2012, Wednesday) — Hindustan Petroleum Corp Ltd (HPCL) has started using its new oil storage terminal in Chennai on India’s east coast while Indian Oil Corp (IOC) expects to complete construction of a new depot in Orissa state by 2014. HPCL invested 3.3 billion rupees in the new 140,000-cubic metre storage terminal (more…)

SINGAPORE: Rig builder Keppel O&M celebrates 10th anniversary with total orders exceeding S$12 billion

(EnergyAsia, November 27 2012, Tuesday) — Singapore’s Keppel Corporation Limited said its wholly-owned subsidiary, Keppel Offshore & Marine Ltd, has secured S$12.2 billion worth of business since its start-up in 2002. (US$1=S$1.22). Remarkably, the company, which was created from the merger of three offshore and marine companies, Keppel FELS, Keppel Shipyard and Keppel Singmarine, secured (more…)

SAUDI ARABIA: SABIC to build storage terminal with Vopak, expand chemical plant with Shell

(EnergyAsia, November 27 2012, Tuesday) — Saudi Basic Industries Corporation (SABIC) said it has agreed to build a new storage terminal with Dutch oil logistics firm Royal Vopak and to expand a chemical plant with Anglo Dutch major Shell. The companies did not disclose the value of the two separate projects to be built in (more…)

CHINA: Water scarcity threatens plan to more than quadruple gas output by 2030

(EnergyAsia, November 27 2012, Tuesday) — China aims to produce 250 million tonnes of oil and 450 billion cubic metres of natural gas by 2030, up from 203 million tonnes and 101 billion cubic metres respectively last year. According to the Ministry of Land and Reserves, the bulk of the new production will come from (more…)

ABU DHABI: Samsung awarded US$2.48 billion contract to build delayed coker, carbon black units for refinery

(EnergyAsia, November 27 2012, Tuesday) — South Korea’s Samsung Engineering has secured a US$2.48 billion engineering, procurement and construction to add a delayed coker and a carbon black unit to the oil refinery in Ruwais, Abu Dhabi by early 2016. Abu Dhabi Oil Refining Company (ADNOC) awarded the contract for the new plants to refine (more…)

CHINA: Longwei Petroleum signs sales agreements for Huajie terminal, completes upgrades at Gujiao

(EnergyAsia, November 26 2012, Monday) — Longwei Petroleum Investment Holding Ltd, a NYSE-listed company engaged in the storage, distribution and retail sales of oil products in China, said it has secured sales agreement for its Huajie terminal as well as completed scheduled maintenance and plant upgrades at the Gujiao terminal, both in Shanxi province. The (more…)

CHINA: White paper affirms energy conservation and efficiency goals

(EnergyAsia, November 26 2012, Monday) — China has re-affirmed its goal to significantly improve energy efficiency and conservation at the same time that it plans to grow the economy by 7.5% a year in the current five-year plan from 2011 to 2015. In its latest white paper on energy policy, the government has set a (more…)

SINGAPORE: Switzerland’s Weatherford opens new oil service facility

(EnergyAsia, November 26 2012, Monday) — Swiss oilfield service company Weatherford International has expanded and consolidated its Singapore operations with the opening of a new multi-million dollar facility in Loyang. For the first time in its 30-year history in Singapore, the company will house all its staff under one roof as part of an expansion (more…)

CHINA: October oil demand third highest on record, says Platts

(EnergyAsia, November 26 2012, Monday) — China’s October oil demand rose 6.6% year-on-year to 41.28 million metric tons (mt), or 9.76 million b/d, the third highest on record, according to energy media Platts. In its latest analysis of recent Chinese government data, Platts said the October demand was slightly lower than the record 9.8 million (more…)

ASIA: Russia targets region for gas exports as Europe plays hardball, said GlobalData

(EnergyAsia, November 23 2012, Friday) — European resistance to oil-linked gas prices will drive Russia to seek Asian export partners, according to a report international business intelligence firm GlobalData. It said Russia is being forced to re-evaluate its natural gas export strategy as the rest of Europe – the destination of 93% of the country’s (more…)

ABU DHABI: ADNOC to stockpile oil in South Korea

(EnergyAsia, November 23 2012, Friday) — Two state oil companies of Abu Dhabi and South Korea have signed a first agreement to cooperate on strategic oil stockpile. On Wednesday, Abu Dhabi National Oil Co (ADNOC) became the 12th company to stockpile oil in South Korea when it signed on to lease tanks from Korea National (more…)

AUSTRALIA: APLNG consortium starts using US$8.5 billion funding for Queensland project

(EnergyAsia, November 23 2012, Friday) — The Australia Pacific Liquefied Natural Gas (APLNG) Pty Ltd consortium has begun drawing on its US$8.5 billion funding facility to develop its massive A$23 billion project in Queensland state, said operator and 37.5% shareholder Australia’s Origin Energy. (US$1=A$0.96). In a statement, Origin Energy said all conditions for the drawdown (more…)

CHINA: Refining capacity expansion to outpace domestic demand growth by 800,000 b/d by 2017, says IEA

(EnergyAsia, November 23 2012, Friday) — China is ready to spring its next big surprise by becoming a global oil products exporter over the next five years as its projected refining capacity expansion will far exceed its domestic oil demand growth by 800,000 b/d, predicts the International Energy Agency (IEA). In its latest medium-term oil (more…)

US: Gas companies launch campaign to allow LNG exports

(EnergyAsia, November 22 2012, Thursday) — Fed up with being paid low prices by domestic consumers, US natural gas producers and traders are actively lobbying the government to allow them to sell the fuel abroad, especially to Asia where the fuel sells for an average five times more. Gas producers, shippers, terminal operators and developers, (more…)