AFRICA: Angola could challenge Nigeria as continent’s leading oil producer

(EnergyAsia, August 20 2013, Tuesday) — As it continues to raise output and find favour with investors, Angola could overtake troubled Nigeria to become Africa’s largest crude oil producer by mid-decade. Angola’s production could rise 15% to reach two million b/d by 2015 while Nigeria’s current output of 2.3 to 2.4 million b/d may decline (more…)

GHANA: Rising oil export earnings continues to boost economic outlook

(EnergyAsia, August 20 2013, Tuesday) — Ghana’s economy is expected to grow by 8% this year, up from last year’s 7.1%, on rising earnings from oil, cocoa and gold exports and large investments in the extractive industries, public infrastructure and commercial agriculture, said the African Economic Development Bank (AfDB). The West African country has also (more…)

NIGERIA: Majors warn of further declines in oil production and reserves

(EnergyAsia, August 19 2013, Monday) — Nigeria could see further sharp declines in both its oil production and reserves if the government insists on raising taxes while failing to address the growing threats posed to the industry by theft, corruption and terrorism, said two of the country’s largest foreign investors. ExxonMobil has warned the government (more…)

CONGO: Economy still performing below potential 10 years after devastating war

(EnergyAsia, August 19 2013, Monday) — A decade after being at the centre of Africa’s deadliest war, Congo’s oil-dependent economy is just starting to show signs of recovery but continues to perform well below potential. Still among the continent’s poorest countries, the resource-rich West African nation can look forward to a stable period of healthy (more…)

SAUDI ARABIA: Saudi Aramco orders US$967 million worth of components for 4,000MW gas-fired power plant at Jazan

(EnergyAsia, August 19 2013, Monday) — Germany’s Siemens said it has secured a large order of components for the construction of a 4,000MW gas-fired combined-cycle power plant in Saudi Arabia. State energy firm Saudi Aramco placed the US$966.8 million order for the plant which is expected to start up in 2016 to power up the (more…)

SINGAPORE: Sembcorp expands waste-to-energy capacity with S$250 million new steam production plant

(EnergyAsia, August 16 2013, Friday) — Sembcorp Industries said it plans to invest more than S$250-million to build a plant on Singapore that has the capacity to produce 140 tonnes per hour of steam using industrial and commercial waste while emitting 50% less carbon dioxide compared with a coal-fired facility. (US$1=S$1.26). Located on Jurong Island’s (more…)

MARKETS: Brent above US$111, WTI at US$107 as Egypt and Libya conflicts threaten oil supplies

(EnergyAsia, August 16 2013, Friday) — Crude oil prices climbed to recent month highs as military conflicts in Egypt and Libya reignited fears that geopolitical unrest are poised to threaten supplies from the volatile Middle East-North Africa region. Brent oil prices surged above US$111 per barrel to a four-month high in London yesterday on fears (more…)

CHINA: Net oil imports to surpass US in October, predicts Energy Information Administration

(EnergyAsia, August 16 2013, Friday) — China will overtake the US to become the world’s largest net oil importer in October, predicts the US Energy Information Administration (EIA). In its August short-term energy outlook report, the EIA said China’s net oil imports will exceed those of the US by October 2013 on a monthly basis, (more…)

MARKETS: Asia’s share of global coal consumption will continue to rise despite environmental concerns, says US EIA

(EnergyAsia, August 15 2013, Thursday) — The US Energy Information Administration (EIA)’s latest 30-year energy forecast will worry environmentalists as fossil fuels demand growth is not expected to slow down. At the same time, worldwide energy-related carbon dioxide emissions is seen rising from about 31 billion metric tons in 2010 to 36 billion metric tons (more…)

CHINA: Coal-induced air pollution cause serious illnesses, shorten life spans of 500 million people, says study

(EnergyAsia, August 15 2013, Thursday) — Minute air-borne particles released by coal combustion in northern China have been found to cause various serious illnesses that drastically shorten life spans, according to a recent study jointly conducted by researchers from China, Israel and the US. The study estimates that 500 million residents in northern China have (more…)

CHINA: Beijing renews commitment to 2020 energy saving, carbon reduction targets

(EnergyAsia, August 15 2013, Thursday) — The Chinese government has re-affirmed its commitment to a programme to achieve certain targets on carbon emissions reduction, energy savings and environmental technology investment by 2020 in an attempt to clean its polluted air and water supplies. But China’s coal use, already the world’s largest, will continue to grow (more…)

CHINA: Greenpeace studies accuse coal miner of depleting water resources, coal-fired power plants of killing people

(EnergyAsia, August 14 2013, Wednesday) — China’s coal sector is rapidly depleting the country’s scarce water resources and causing pre-mature deaths of thousands of people, according to two recent studies published by Greenpeace. Last month, the environmental group released a report accusing China’s largest coal miner, Shenhua Group, of draining and poisoning vital water supplies (more…)

SINGAPORE: Oiltanking sells 45% of stake in Helios Terminal for undisclosed sum

(EnergyAsia, August 14 2013, Wednesday) — After less than a year of full ownership, Germany’s Oiltanking GmbH said it has agreed to sell 45% of its stake in Singapore’s Helios Terminal Corporation Pte Ltd to Macquarie Capital for an undisclosed sum. The proposed sale of Helios, which owns and operates a world-class fuel oil storage (more…)

AUSTRALIA: World Coal Association slammed Climate Commission for putting “ideology over solutions”

(EnergyAsia, August 14 2013, Wednesday) — The World Coal Association (WCA) has criticised a recent report from Australia’s Climate Commission as being “ideologically driven, one-sided and inherently unscientific.” In calling for the closure of Australia’s coal industry, the WCA said the report, “The Critical Decade 2013: Climate Change Science, Risks & Response”, crossed the line (more…)

AUSTRALIA: Queensland state government approves A$6.4 billion coal mine project

(EnergyAsia, August 13 2013, Tuesday) — Australia’s Queensland state government has approved a A$6.4 billion proposal by Waratah Coal Pty Ltd to develop the coal deposits in the Galilee Basin and a support rail network. (US$1=A$1.1). But, the firm, controlled by mining tycoon Clive Palmer, will have to wait for the Federal government to give (more…)

PAKISTAN: China to help develop coal-fired power plants in Balochistan

(EnergyAsia, August 13 2013, Tuesday) — China will help develop four coal-fired power plants at the soon-to-be-established Gadani Power Corridor in Pakistan’s southwestern Balochistan province, Prime Minister Nawaz Sharif said. He said the Pakistani government has set a target for the coastal corridor in the impoverished and politically unstable province to accommodate eight coal-fired power (more…)

NIGERIA: Officials unsure of actual rate of oil production

(EnergyAsia, August 13 2013, Tuesday) — Nigerian officials are unsure how much oil the country is producing or if it will achieve its medium-term targets amid rising security threats to the nation’s pipeline infrastructure and the oil-rich Niger Delta region by terrorists, armed gangs, disenfranchised local inhabitants and corrupt officials. There is also the growing (more…)

CHINA: Russia’s Mechel makes first coal delivery by rail

(EnergyAsia, August 12 2013, Monday) — Russian mining company Mechel said it has begun delivering coal concentrate to China by rail through a new border checkpoint. “Until now, Mechel made major coal deliveries to Chinese customers only through sea ports. The opening of this railroad route will enable Mechel to diversify its logistics and make (more…)

AUSTRALIA: Government delays approval for world’s biggest coal port

(EnergyAsia, August 12 2013, Monday) — Bowing to public pressure, Australia has again delayed approval for the development of the world’s largest coal port in Queensland state that environmentalists say would permanently damage the Great Barrier Reef, the world’s largest marine park, with negative consequences for spawning fish and other life forms migrating between the (more…)

AFRICA: Platts begins publishing price assessments for five West African crude oil grades

(EnergyAsia, August 12 2013, Monday) — Platts, a leading global energy, petrochemicals and metals information provider, said it has begun publishing daily price assessments for five West African grades of crude oil. The new price assessments, launched on August 1, provide end-of-day values on the open spot market for two Nigerian grades, two Angolan grades (more…)

MONGOLIA: Australia’s Modun Resources approved to mine prospective Nuurst coal project

(EnergyAsia, August 7 2013, Wednesday) — Australia’s Modun Resources said it has been granted a licence to mine a major thermal coal project now under development in Mongolia. The Mineral Resources Authority of Mongolia (MRAM) has approved Modun’s right to mine 2,497 hectares of the Nuurst’s project for an initial period of 30 years with (more…)

KYRGYSTAN: Celsius bolsters case for coking coal focus with study stating strong demand in neighbouring China

(EnergyAsia, August 7 2013, Wednesday) — Celsius Coal Limited has affirmed its focus on developing Kyrgyzstan’s vast coking coal deposits following the findings of a study which showed strong demand and further growth prospects for the fuel in neighbouring China’s Xinjiang autonomous region. The Australia-listed company presented its conclusion based on a first phase Xinjiang (more…)

GHANA: Oil export earnings topped US$3 billion last year, production continues to rise

(EnergyAsia, August 7 2013, Wednesday) — Helped by rising crude oil production and exports of gold and cocoa, Ghana’s economy is on course to repeat last year’s 8% growth in 2013, said the International Monetary Fund (IMF). The three commodities together account for 85% of the West African country’s export earnings. In a recent assessment, (more…)

SAUDI ARABIA: Rotary Engineering awarded contracts for Jubail, Singapore projects

(EnergyAsia, August 6 2013, Tuesday) — Singapore-based Rotary Engineering Limited said it has been awarded a number of engineering, procurement, construction (EPC) contracts worth a total of S$200 million for work in Saudi Arabia and Singapore. (US$1=S$1.26). The EPC and maintenance services provider for the energy sector said it secured three contracts to build storage (more…)

NIGERIA: House of Representatives, UK police probing corruption allegations linked to Shell, ENI oil deal

(EnergyAsia, August 6 2013, Tuesday) — Authorities in Nigeria and the UK are investigating claims that a company linked to a former Nigerian oil minister has pocketed the bulk of US$1.3 billion paid by Shell and Italy’s ENI for the rights to explore and develop an offshore oil block in the West African country. Dan (more…)