INDIA: Sembcorp Industries says 1,320MW coal-fired power plant in full operation

(EnergyAsia, September 16 2015, Wednesday) — Singapore’s Sembcorp Industries said subsidiary Thermal Powertech Corporation India (TPCIL) has begun fully operating its 1,320MW coal-fired power plant in Nellore in India’s Andhra Pradesh state. The company recently started up the second 660-megawatt unit of the US$1.5 billion plant in the coastal town of Krishnapatnam to follow through...

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CHINA: Declining coal demand piles further pressure on Australia’s mining industry, says Moody’s

(EnergyAsia, August 11 2015, Tuesday) — China’s slowing energy demand is further draining the financial life out of Australia’s thermal coal miners and services companies at a time when they are struggling with low commodity prices, said US ratings agency Moody’s. China’s thermal coal demand is declining amid the country’s slowing industrial production and push...

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LIBYA: National Oil Company’s eastern chairman wants to reopen use of oil terminals, boost production

(EnergyAsia, August 10 2015, Monday) — Boosted by a banking deal with the International Monetary Fund (IMF) last week, the newly appointed chairman of Libya’s National Oil Company (NOC) said he plans to lift the force majeure on the country’s Ras Lanuf and As Sidra oil terminals, according to a briefing note from MAST Security....

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US: Refining throughput hits record high of over 17 million b/d, says EIA

(EnergyAsia, August 8 2015, Saturday) — Reflecting the growing strength of the US economy, its refiners have been operating at a record throughput of over 17 million b/d since mid-July, said the Energy Information Administration (EIA). The rolling four-week average of US gross refinery inputs has been above the five-year range every week so far...

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SINGAPORE: Port authority calls for LNG bunkering proposals by September 30

(EnergyAsia, July 30 2015, Thursday) — Singapore’s port has issued a formal request for proposals to promote the use of liquefied natural gas (LNG) as a shipping fuel as part of a long-term plan to remain one of the world’s leading energy hubs. On Tuesday, the Maritime Port Authority (MPA) launched its first request-for-proposal (RFP)...

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MARKETS: Wood Mackenzie on the outlook for oil in the coming weeks

(EnergyAsia, July 13 2015, Monday) — Crude oil prices are starting the second half of 2015 on the defensive as Greece’s economic crisis, China’s US$3.3-trillion stock market plunge and the West’s likely lifting of trade sanctions against Iran dominate the headlines. The oil markets are hovering at a three-month low with Brent ending last week...

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SINGAPORE: Trafigura to use excess capacity at LNG terminal

(EnergyAsia, June 28 2015, Sunday) — European commodities trader Trafigura said it has signed an agreement with Singapore LNG Corporation Pte Ltd (SLNG) to use excess storage capacity at the company’s liquefied natural gas (LNG) terminal on Jurong Island. SLNG is the owner and operator of the country’s first LNG terminal that is capable of...

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MARKETS: Refiners failed to unleash “wave” of new oil products supply, says consultant

(EnergyAsia, June 22 2015, Monday) — Led by Saudi Arabia in the Middle East and Brazil in Latin America, refiners failed to unleash a much-anticipated new “wave” of petroleum products to meet rising global demand, said a US energy consultant. In the first quarter of 2015 when global oil products demand roared to life, ESAI...

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DUBAI: ENOC secures US$1.5b syndicated loan facility following successful £3.7b bid for Dragon Oil

(EnergyAsia, June 18 2015, Thursday) — Following its £3.7b successful bid for oil producer Dragon Oil, Dubai’s state-owned Emirates National Oil Company (ENOC) said it has secured a US$1.5 billion term debt facility from a syndicate of local, regional and international banks. The nine-year facility denominated in US dollars and UAE dirhams was fully underwritten...

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NEW ZEALAND: Chevron to complete exit with sale to Z Energy for NZ$785 million

(EnergyAsia, June 11 2015, Wednesday) — Weeks after divesting its stake in New Zealand’s only refinery, US major Chevron said it is selling its retail and lubricants operations to local company Z Energy for a total of NZ$785 million. (US$1=NZ$1.40). Chevron will sell 150 Caltex service stations together with 70 truck fuelling stations and the...

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ASIA: A route for US warships through the South China Sea, by Grenatec

Comment by Grenatec (EnergyAsia, June 8 2015, Monday) — If US navy ships traverse the South China Sea to demonstrate freedom of navigation, what route might they take? A US Navy flotilla tour of the South China Sea could underscore Reed Bank’s potential as a Joint Development Area. One route could be a broad arc passing...

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CHINA: Saudi Aramco’s 10th global R&D centre opens in Beijing

(EnergyAsia, May 26 2015, Tuesday) — Saudi Arabia’s state-owned energy firm Aramco has opened an energy research centre in Beijing to help drive its innovation and technology development programme in China. Saudi petroleum minister Ali I. Al-Naimi officially opened the 4,400-square metre Beijing Research Center (BRC), the 10th in the company’s global research and development...

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AUSTRALIA: Accenture says LNG industry faces barriers to delivering A$55 billion worth of benefits

(EnergyAsia, May 18 2015, Monday) — Having done the hard part of attracting A$250 billion worth of liquefied natural gas (LNG) investments, Australia may yet miss out on A$55 billion worth of benefits when the new plants start up over the next few years, said consulting firm Accenture. (US$1=A$1.3). In a new report, the consulting...

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CHINA: Silk route will open up “new commodity superhighway” but faces enormous risks, says Wood Mackenzie

(EnergyAsia, April 28 2015, Tuesday) — China faces a long list of risks in its strategy to develop the old Silk Route and a new maritime channel to connect Asia with the Middle East, Africa and Europe, said consultant Wood Mackenzie. Beijing’s ‘One Route One Belt’ strategy holds the promise of creating a new “commodity...

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MYANMAR: Contract for largest gas-fired independent power plant awarded to Singapore’s Sembcorp Industries

(EnergyAsia, April 27 2015, Monday) — Singapore’s Sembcorp Industries said it has been awarded a contract to develop and operate what will be Myanmar’s largest gas-fired independent power plant. In securing its first investment in the country’s fast-growing power sector, Sembcorp said it beat off competition from international rivals for the proposed 225MW project in...

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VIETNAM: Russia’s Gazprom unit to invest in upstream activities, buy 49% stake in troubled refinery

(EnergyAsia, Monday April 14 2015, Tuesday) — Gazprom Neft, the oil subsidiary of Russia’s leading gas producer Gazprom, said it plans to invest in Vietnam’s upstream sector as well as acquire a 49% stake in the country’s only oil refinery at Dung Quat. Gazprom Neft said its venture into the Southeast Asian country will be...

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MARKETS: US shale sector hopes for oil price recovery while global exploration costs seen falling 30%, say consultants

(EnergyAsia, April 9, 2015, Thursday) — Amid sharply reduced budgets and activities, the US shale sector is hoping for the stage to be set for oil prices to stabilise and eventually recover, said UK consultant Douglas-Westwood (DW). Another consultant Wood Mackenzie expects exploration costs to fall by a third, spurring drilling activity for 2016 to...

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SINGAPORE: Shell’s annual ethylene capacity exceeds one million tonnes after upgrade

(EnergyAsia, April 6 2015, Monday) — Royal Dutch Shell said it has raised its Singapore ethylene production capacity to more than one million tonnes per year after recently completing a major expansion and upgrade at its Bukom Island complex. The company said its ethylene plant, which is linked to a 500,000 b/d refinery as part...

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AUSTRALIA: Chevron sold off entire 50% stake in Caltex to focus on LNG projects

(EnergyAsia, March 30 2015, Monday) — US major Chevron has sold off its entire long-held 50% stake in Australia’s largest downstream company for A$4.7 billion to focus on developing its core Gorgon and Wheatstoneliquefied natural gas (LNG) projects. (US$1=A$1.30). Despite the exit, Chevron said in a statement it remains one of Australia’s largest foreign investors and...

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MALAYSIA: Southeast Asia’ s first crude oil storage terminal launched

(EnergyAsia, March 26 2015, Thursday) — Malaysia’s Johor state has started up Southeast Asia’s first commercial crude oil storage terminal with the receipt of one million barrels of Middle Eastern crude from a supertanker last week. MT Mesdar, a vessel chartered by France’s Total, docked at the Pengerang deepwater terminal jointly owned by Dutch oil...

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MARKETS: BIMCO developing charter to bring greater flexibility to LNG spot trades

(EnergyAsia, March 24 2015, Tuesday) — In response to the growing liquefied natural gas (LNG) trade, the world’s largest shipping association said it is working with the industry to develop a new contract to provide for better risk and cost-management of the fuel’s transportation under voyage charter terms. The Baltic and International Maritime Council (BIMCO),...

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ASIA: Summer LNG price rally to be cut short by additional Australian production, says Wood Mackenzie

(EnergyAsia, March 19 2015, Thursday) — Asia’s liquefied natural gas (LNG) prices will enjoy a brief rally in the summer that will be quickly cut down by the start-up of new production capacity in Australia, predicts energy consultant Wood Mackenzie. The expected resumption of operations at some nuclear plants in Japan will also pressure Asian...

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STORAGE: CME Group to launch first physically delivered crude oil storage futures contract on March 29

(EnergyAsia, March 18 2015, Wednesday) — CME Group, the world’s largest derivatives market operator, said it and two US firms expect to launch a physically delivered crude oil storage futures contract on March 29 upong receiving US regulatory approval. The Chicago-based firm said it jointly developed the pioneering contract with LOOP LLC, operator of the...

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SINGAPORE: Puma Energy expands global bitumen and fuels businesses with acquisitions in Australia and the UK

(EnergyAsia, March 16 2015, Monday) — In separate announcements today, Singapore-based Puma Energy said it has agreed to purchase BP’s bitumen business in Australia and Murco Petroleum’s fuels wholesale and distribution business in the UK. The proposed deals will be subject to local regulatory approvals. The integrated midstream and downstream energy company, which has been...

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RUSSIA: Labour remittances to Central Asia to fall by US$1.7 billion in 2015, says UN unit

(EnergyAsia, March 5 2015, Thursday) — As a result of the oil price collapse, remittances by Central Asian workers in Russia will fall by an estimated total US$1.7 billion this year, said the UN Economic and Social Commission for Asia and the Pacific (ESCAP). In a recent report, the UN unit said the near 60%...

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