IRAQ: EIA slashed oil production forecast by 600,000 b/d on political unrest

(EnergyAsia, July 18 2014, Friday) — Citing Iraq’s worsening violence, the US Energy Information Administration (EIA) said it has slashed its forecast for the country’s crude oil production by 600,000 b/d to between 3.1 million b/d and 3.2 million b/d from now through end-2015. The escalation of violence in northern Iraq that started in June […]

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SRI LANKA: ADB lends US$300 million of US$440-million programme to boost renewable energy use in place of fuel oil

(EnergyAsia, July 17 2014, Thursday) — The Asian Development Bank (ADB) said it has approved a US$300 million dual-tranche loan to help Sri Lanka scale up its use of clean energy and cut its reliance on costly fuel oil for electricity generation by 2020. The bank’s first US$150 million tranche will help pay for a […]

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SINGAPORE: Ezra to create one of region’s largest offshore services providers with consolidation of two related firms

(EnergyAsia, July 16 2014, Wednesday) — Singapore’s Ezra Holdings Limited said it is aiming to create one of Asia’s largest offshore services providers by merging an offshore division with an associated firm to own and operate a vessel fleet worth more than US$1 billion. The enlarged EOC Group will comprise EMAS Marine, Ezra’s offshore support […]

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IRAQ: Baghdad bleeding cash as Kurds take over oilfields, Islamic State profits from oil sales

(EnergyAsia, July 15 2014, Tuesday) — Iraq is losing hundreds of millions of dollars in revenue as warring factions led by ethnic Kurds and Sunni revolutionaries cash in on sales of crude and oil products seized from producing fields and refineries previously controlled by Baghdad. Last week, Kurdish troops took over two oilfields in northern […]

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SRI LANKA: President opened new fuel storage facilities to serve sea and airports in Hambantota

(EnergyAsia, July 14 2014, Monday) — Sri Lanka’s President Mahinda Rajapaksa officially started up two of the country’s most modern fuel storage facilities in the emerging trade hub of Hambantota city last month. Mattala International Airport’s US$40 million terminal stores up to three million litres of jet fuel to serve the growing air traffic through […]

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SINGAPORE: Keppel to undertake US$735 million FLNG vessel conversion for Golar LNG

(EnergyAsia, July 11 2014, Friday) — Singapore’s Keppel Shipyard Ltd said it has secured a US$735 million contract from Golar Hilli Corp, a subsidiary of Golar LNG Ltd, to convert an existing Moss liquefied natural gas (LNG) carrier, the Hilli, into a floating liquefaction vessel (FLNGV) by the first quarter of 2017. Keppel Shipyard, a […]

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MONGOLIA: MMC and Risun to jointly market and sell coal in China

(EnergyAsia, July 11 2014, Friday) — Mongolian Mining Corporation said its wholly‐owned subsidiary, Mongolian Coal Corporation Limited (MCCL), and Risun Mining Co Ltd, a subsidiary company of the Risun Group, have agreed to establish a joint venture company to transport, sell and distribute coal in China. With registered capital of RMB10 million and investments totalling […]

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NIGERIA: Shell could face massive compensation bill after landmark environmental ruling in London court, says Amnesty

(EnergyAsia, July 10 2014, Thursday) — European major Shell could finally be held accountable for “massive compensation” for its role in devastating oil pollution in the Niger Delta following a landmark UK court ruling last month, said Amnesty International. In a judgment delivered by Justice Sir Robert Akenhead, the London Technological and Construction Court found […]

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IRAQ: China offers words of support for Baghdad in fight against ISIS and Kurds, and little else

(EnergyAsia, July 10 2014, Thursday) — With a nervous eye on its growing exposure to the Middle East, China’s envoy to the region arrived in Baghdad this week to make a high-profile declaration of support for the Iraqi government fighting to hold the country together against the twin break-up threats posed by the Islamic State […]

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