Archive | May, 2013

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MIDDLE EAST: Focus on reducing energy use and carbon emissions as experts expect region to dominate global petrochemicals industry by 2020

(EnergyAsia, May 31 2013, Friday) — With its easy access to low-cost feedstock and proximity to the fast-growing markets of Asia and Africa, the Middle East is set to dominate the global petrochemicals industry by 2020, say experts at a recent industry event in Dubai. Middle Eastern companies are also raising their performance by adopting […]

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SINGAPORE: ExxonMobil producing ethylene and other chemicals from expanded petrochemicals plant

(EnergyAsia, May 31 2013, Friday) — ExxonMobil said it has boosted production of ethylene and other downstream chemicals on Singapore’s Jurong Island with the start-up of its long-delayed second world-scale steam cracker. Integrated with the existing petrochemical complex and powered by a 375-megawatt cogeneration plant, the new plant will enable the US major to increase […]

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CHINA: Another two coal price indices launched

(EnergyAsia, May 31 2013, Friday) — Coal companies have helped launch another two indices to track the price of the commodity produced and traded in China, adding to two already in use since 2006. Producers in coal mining Shanxi province have helped create the China Taiyuan Coal Transaction Price Index, which they claim is the […]

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PAPUA NEW GUINEA: Economy to grow by 6% next year on LNG plant start-up, says ADB

(EnergyAsia, May 30 2013, Thursday) — Papua New Guinea’s economy will have a powerful new engine next year when an Exxon Mobil-led consortium starts up a US$19-billion plant near Port Moresby to export liquefied natural gas (LNG) to Asia. Starting with two trains with a combined 6.6-million-ton/year capacity, the PNG LNG project will help the […]

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AUSTRALIA: Wood Mackenzie expects resource sector investments to reach record A$85 billion for 2013

(EnergyAsia, May 30 2013, Thursday) — Companies will maintain a high level of investment in Australia’s resource sector through 2015, building on this year’s projected record A$85 billion on natural gas, coal, iron ore and other resource projects, said UK-based consultant Wood Mackenzie. (US$1=A$1.03). Chris Graham, the company’s Head of Australasia Upstream Research, expects natural […]

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PHILIPPINES: Petron starts building oil storage depots in anticipation of Pandacan closure

(EnergyAsia, May 29 2013, Wednesday) — The Philippines’ main oil refining and retailing company said it has started building storage facilities in three provinces to support growing local fuel demand as it prepares for the eventual closure of the country’s traditional storage and distribution hub in Pandacan in Manila city. Petron Corp expects to complete […]

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COMPANY: Intertek opens regional energy exploration and production centre in Malaysia

(EnergyAsia, May 29 2013, Wednesday) — Intertek, a leading global quality solutions provider, said it has invested £900,000 to develop a new centre in Malaysia to provide enhanced services to the oil exploration and production (E&P) sector in Southeast Asia. (US$1=£0.66). Based in Kuala Lumpur, the facility includes two specialised laboratories to support Intertek’s plan to […]

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CHINA: Platts says April oil demand at eight-month low of 9.77 million b/d

(EnergyAsia, May 29 2013, Wednesday) — China’s April oil demand rose by 2.1% to 9.66 million b/d, or 39.54 million metric tonnes, its lowest level last August, said US energy media Platts. In an analysis of just-released official government data, Platts said Chinese oil consumption fell compared with March’s average of 9.77 million b/d. For the […]

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