AUSTRALIA: Exploration and production headed for further decline, says Department of Industry

(EnergyAsia, October 23 2016, Sunday) — Oil and gas explorers are losing their appetite for Australia with investment expenditure now at their lowest in over a decade, said the Department of Industry, Innovation and Science. In its latest quarterly update, the department reported that petroleum exploration expenditure in Australia had declined for a sixth consecutive (more…)

CHINA: Beijing’s plans for economy and energy sector expected to be key topic at AsiaPowerWeek

(EnergyAsia, July 23 2016, Saturday) — The outlook for China’s US$11 trillion economy and its energy sector will be a major talking point at the upcoming AsiaPowerWeek event in Seoul in South Korea on September 20 to 22. Around 8,300 international delegates and energy professionals are expected to attend the Pennwell-organised energy conference and exhibition, (more…)

CHINA: Hanergy and Germany’s Africa GreenTec advance production and use of off-grid power, says Harrop

(EnergyAsia, July 11 2016, Monday) — This is an edited version of an article written by Peter Harrop, chairman of IDTechEx, a Cambridge, UK firm which provides independent research and business intelligence and advice. Innovations undertaken separately by China’s Hanergy and Germany’s Africa GreenTec have helped advance the production and consumption of off-grid clean renewable (more…)

ASIA: UN agency and energy group to cooperate on boosting region’s electricity trade, cross-border grid connections

(EnergyAsia, July 3 2016, Sunday) — The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said it and the Global Energy Interconnection Development and Cooperation Organization (GEIDCO) have signed a memorandum of understanding (MoU) to cooperate on boosting the region’s cross-border electricity connections and trade. Shamshad Akhtar, ESCAP’s Executive Secretary and the (more…)

Companies ready to help Asia grow economy, fight climate change and improve energy security

Asia Power Week, June 20 2016 Asia’s governments today face an increasingly difficult set of challenges to grow their nations’ economies, mitigate climate change and improve energy security all at the same time, said the World Bank. To succeed, they will need political resolve, financial resources as well as help from infrastructure and engineering firms (more…)

MARKETS: Unplanned global oil supply disruptions at highest level since January 2011, says EIA

(EnergyAsia, June 11 2016, Saturday) — Unplanned global oil supply disruptions averaged more than 3.6 million b/d in May 2016, the highest monthly level recorded since the US government’s energy unit began keeping such records in January 2011. According to the Energy Information Administration (EIA), a huge surge in production losses in Canada, Nigeria, Iraq (more…)

JAPAN: Vopak sells off stake in joint venture firm owning five storage terminals

(EnergyAsia, May 31 2016, Tuesday) — Continuing its divestment of global assets to boost competitiveness, Dutch oil and chemical logistics giant Royal Vopak said it has sold off its 40% stake in Nippon Vopak Company Limited that owns and operates five storage terminals in Japan. The Rotterdam-based firm said it will realise a gain of (more…)

INDONESIA: SBS International and Black & Veatch to develop commercial tidal currents projects

(EnergyAsia, April 29 2016, Friday) — US infrastructure builder Black & Veatch said it and UK’s SBS International Ltd have agreed to jointly develop commercial-scale tidal current projects to produce energy for remote communities in Indonesia. The companies recently signed a Memorandum of Understanding (MoU) to follow through on feasibility studies supporting the development of (more…)

SINGAPORE: Construction begins on giant container port terminal

(EnergyAsia, April 29 2016, Friday) — Singapore has begun construction of a giant terminal at the western end of the island to replace existing container port facilities and consolidate operations for the long term. The first phase of the Tuas Terminal project will have 20 deepwater berths with an initial capacity to handle an annual (more…)

QATAR: Qatargas signs 15-year contract to supply LNG to Pakistan

(EnergyAsia, February 16 2016, Tuesday) — Concluding their largest bilateral trade deal, Qatar will soon begin an annual supply of 3.75 million tons of liquefied natural gas (LNG) to Pakistan over the next 15 years. State-owned Qatar Liquefied Gas Company or Qatargas, the world’s largest LNG firm with 42-million tons of production capacity, expects to (more…)

SINGAPORE: Swiss chemical logistics firm Bertschi AG to invest another S$20m to expand new S$45m plant on Jurong Island

(EnergyAsia, Singapore, February 2 2016, Tuesday) – Swiss chemical logistics firm Bertschi AG will invest another S$20 million in a dangerous goods warehouse to add to its newly opened S$45 million plant on Singapore’s oil and chemicals hub on Jurong Island. (US$1=S$1.42). Hans-Jörg Bertschi, President and CEO of Bertschi Holding AG, made the announcement for (more…)

SINGAPORE: MPA awards first two licences for suppliers of LNG as shipping fuel

(EnergyAsia, January 28 2016, Thursday) — Singapore expects to start supplying liquefied natural gas (LNG) as shipping fuel from 2017 following the first awards of licences to two operators, said the Maritime and Port Authority of Singapore (MPA). The agency announced that it has selected Singapore’s Pavilion Gas Pte Ltd, and a soon-to-be-established joint venture (more…)

CHINA: Coal imports and consumption down sharply, electricity demand growth slowed in 2015

  (EnergyAsia, January 20 2016, Wednesday) — China’s slowing economy has been decisively confirmed by a slew of negative industrial data for 2015. Coal production, imports, consumption were all down along with electricity, cement and steel production, according to the Australia-based Institute for Energy Economics and Financial Analysis (IEEFA). Citing official Chinese sources, the institute (more…)

INDIA: Petronet receives first LNG cargo from Qatar’s RasGas under new agreement

(EnergyAsia, January 15 2016, Friday) — India’s Petronet LNG Limited has received the first cargo from RasGas Company Ltd under their new sales and purchase agreement (SPA) signed on December 31 2015, said the Qatar state-owned company. The LNG cargo was delivered by the Al Thumama (Q-Flex) vessel to Dahej LNG Terminal in India’s Gujarat (more…)

ASIA: Global LNG demand down on region’s reduced use, says Wood Mackenzie

(EnergyAsia, January 15 2016, Friday) — Weighed down by a first decline in Asian consumption after years of strong growth, global demand for liquefied natural gas (LNG) fell two percent to 245 million tonnes last year, said UK consulting firm Wood Mackenzie. A supply glut opened up as production rose by four million tonnes to (more…)

US: Oil reserves at highest level since 1972, natural gas reserves at record, says EIA

(EnergyAsia, November 24 2015, Tuesday) — Thanks to the adoption of fracking technology, the US boosted its oil reserves to a 42-year high of 39 billion barrels and natural gas to an all-time high of 388.8 trillion cubic feet (11 trillion cubic metres) at the end of 2014. But, the Energy Information Administration (EIA) said (more…)

IRAQ: Basra to set up regional company to attract international oil, gas and infrastructure investment

(EnergyAsia, November 13 2015, Friday) — Iraq’s hydrocarbon-rich Basra province is establishing a regional company to attract foreign direct investment to build up its oil, gas and infrastructure for the long-term development of the economy. “Basra Company is the vehicle through which the provincial government will optimise utilisation of resources and position Basra as the (more…)

MARKETS: IEA fears low oil and gas prices inducing “complacency” over energy security issues

(EnergyAsia, November 12 2015, Thursday) — The world is at risk of becoming complacent to energy security threats with an expected prolonged period of low oil and gas prices looming ahead, said the International Energy Agency (IEA). While consumers stand to benefit, the market is increasingly at risk from both a growing reliance on a (more…)

SAUDI ARABIA: Vopak joint venture to provide liquid product storage services in Jubail

(EnergyAsia, November 3 2015, Tuesday) — Jubail Chemicals Storage and Services Company (JCSSC), a company 25% owned by Royal Vopak of the Netherlands, has signed two agreements to provide liquid product storage and handling services at the King Fahd Industrial Port (KFIP) in Jubail in Saudi Arabia’s Eastern Province. JCSSC, 75% owned by Saudi Basic (more…)

MARKETS: Deluge of new LNG supply will test global floor price, create new demand, says Wood Mackenzie

(EnergyAsia, October 28 2015, Wednesday) — Consultant Wood Mackenzie has more bad news for the already battered liquefied natural gas (LNG) markets: prices will be further tested by a deluge of new supply amid weak demand in China. In a report prepared for Gastech 2015 in Singapore, the UK firm said it expects producers to (more…)

CHINA: BP secure oil and gas agreement with CNPC, LNG supply deal with Huadian

(EnergyAsia, October 23 2015, Friday) — UK major BP said it has signed an oil and gas framework agreement with China National Petroleum Corporation (CNPC) and a 20-year deal to supply liquefied natural gas (LNG) to China Huadian Corp worth US$10-billion. BP said it expanded an ongoing global partnership with CNPC by agreeing to jointly (more…)

AFRICA: More than 1,000 senior executives to meet at 22nd Africa Oil Week in Cape Town, South Africa

(EnergyAsia, October 1 2015, Thursday) — More than 1,000 top government officials and executives of oil and gas companies are expected to attend the 22nd Africa Oil Week and Africa Upstream Conference in Cape Town, South Africa on October 26-30. Global Pacific & Partners and ITE Group plc will jointly host the landmark event that (more…)

SINGAPORE: Port to fund efforts to develop LNG use as bunker fuel

(EnergyAsia, October 1 2015, Thursday) — Singapore is inviting companies to tap a S$12 million fund to help its port develop the use of liquefied natural gas (LNG) as a shipping fuel and remain the world’s top bunkering hub. (US$1=S$1.43). The Maritime and Port Authority of Singapore (MPA) said its Maritime Innovation & Technology Fund (more…)

BANGLADESH: Singapore’s Sembcorp awarded contract to develop 426MW power plant

(EnergyAsia, September 29 2015, Tuesday) — Singapore’s Sembcorp Industries said a subsidiary will lead a joint venture firm to build a 426MW plant in Bangladesh valued at US$390 million. The Bangladesh government awarded the build-own-operate contract to Sembcorp Utilities to develop the project in the Sirajganj district by 2018. To be fuelled primarily by natural (more…)

SAUDI ARABIA: Why Riyadh is having such trouble with its Syria policy

(EnergyAsia, September 24 2015, Thursday) — Essay by Simon Mabon, Lecturer in International Relations, Lancaster University, UK, published from www.TheConversation.com. The violent civil war in Syria and rise of Islamic State (IS) has forced millions to flee their homes, cascading across Europe in search of safety. And yet, despite the crisis unfolding on its doorstep, (more…)