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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MIDDLE EAST: US to stay engaged while China’s energy dependence on region will grow, says Deloitte

(EnergyAsia, July 9 2014, Wednesday) — North America’s energy boom notwithstanding, the US will remain engaged in the Middle East while China will grow increasingly dependent on the region for its oil and gas supplies, said consultant Deloitte Touche Tohmatsu Limited (DTTL). In its 2014 Oil and Gas Reality Check report, Deloitte said the US’s […]

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SOUTH KOREA: Hanjin Group sells 28.4% stake in S-Oil to Saudi Aramco subsidiary for 1.98 trillion won

(EnergyAsia, July 8 2014, Tuesday) — Saudi Aramco said its subsidiary, Aramco Overseas Company BV (AOC), will become the new majority owner of South Korea’s S-OIL Corporation when it completes its proposed buy-out of the Hanjin Energy Company’s entire 28.4% stake for nearly 1.983 trillion won. (US$1=1,010 won). The Saudi state-owned firm will raise its […]

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MONGOLIA: Economy slowing down on account of high inflation and balance of payment pressure, says World Bank

(EnergyAsia, July 8 2014, Tuesday) — Mongolia’s economy will experience slower growth over the next three years as it struggles to adjust to persistently high inflation and balance of payment problems that began since the start of the decade, said the World Bank. Real GDP % 2011    2012     2013     2014f     2015f    […]

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