Author Archive | EnergyAsia

RUSSIA: Rosneft, CNPC to speed up oil refinery project, launch LNG cooperation

(EnergyAsia, October 21 2014, Tuesday) — Russia’s largest energy firm, Rosneft, said it and China National Petroleum Corporation (CNPC) have agreed to expand their strategic partnership by venturing into liquefied natural gas projects, and accelerating the joint construction of a long-delayed oil refinery in China and development of upstream projects in Russia. Rosneft CEO Igor […]

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SINGAPORE: PacificLight Power registers power plant with UN to earn carbon credits

(EnergyAsia, October 20 2014, Monday) — PacificLight Power Pte Ltd (PLP) said it has secured Singapore’s largest project to earn carbon emissions credits following the registration of its S$1.2 billion power plant under the UN’s clean development mechanism to fight climate change. (US$1=S$1.27). The company owns and operates the 800MW state-of-the-art combined cycle gas turbine […]

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AUSTRALIA: Caltex starts up fuel terminal converted from shut-down refinery at Kurnell

(EnergyAsia, October 16 2014, Wednesday) —- Caltex Australia said it has completed the two-year conversion of its 58-year-old oil refinery at Kurnell in Sydney into the country’s largest fuels import terminal this week. With the loss of the 124,500-b/d refinery, Caltex, half-owned by US major Chevron, will be left with only the Lytton plant in […]

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RUSSIA: Gazprom making progress to implement gas export agreement with China

(EnergyAsia, October 15 2014, Wednesday) — Nearly five months after signing a world-record US$400 billion agreement to sell natural gas to China National Petroleum Corp (CNPC), Russia’s Gazprom said it is advancing on technical and banking arrangements towards implementing the deal from 2019. On Monday, the two state-owned companies announced they had signed a technical […]

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INDIA: ICVL completes buy-out of Mozambique coal assets from Rio Tinto

(EnergyAsia, October 13 2014, Monday) — India’s state-owned International Coal Ventures Private Limited (ICVL) has completed its acquisition of European miner Rio Tinto’s coal assets in Mozambique. Rio Tinto said the US$50 million sale, announced on July 30, was completed following the fulfilment of all conditions needed for regulatory approvals. The assets, which the firm […]

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CANADA: Petronas “encouraged” but warns BC government it may still “defer” troubled LNG project by 15 years

(EnergyAsia, October 10 2014, Friday) — Faced with the possibility of having to cancel its proposed C$9-to-C$11 billion liquefied natural gas plant in Canada, Malaysia’s state energy firm Petronas said it is “encouraged” by high-level talks with British Columbia provincial government leaders. This week, the company’s President and CEO Shamsul Azhar Abbas held several meetings […]

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SINGAPORE: SGX on course to offer electricity futures trading with takeover of electricity market operator EMC

(EnergyAsia, October 7 2014, Tuesday) — Singapore Exchange (SGX) is on course to offer electricity and energy futures trading after paying S$23 million to complete the takeover of the remaining 51% stake in the nation’s electricity market operator. (US$1=S$1.27). SGX, which bought a 49% in Energy Market Co (EMC) in August 2012, had announced its […]

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MARKETS: Global oil demand growth continues to weaken despite the attraction of lower oil prices

(EnergyAsia, October 3 2014, Friday) — The International Energy Agency (IEA) expects global oil demand growth to weaken over the next two years even after Brent crude’s sustained weak run below US$100 a barrel. Instead of inducing fresh buying, the oil market’s collapse — as Brent dipped below the US$100-mark for the first time since […]

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