Archive | November, 2012


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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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