Energy News From Asia
Beijing city’s municipal departments have pledged to cut their energy use by 20%, setting an example in energy efficiency for the rest of China. As part of the effort, Beijing will contract energy management firms to advise on cutting energy use and making the bureaucracy more energy efficient. Initially, 10 departments will be...
(EnergyAsia, January 27) — Chinese energy experts expect the country’s new “Law on Renewable Resources” to open up a huge market for renewable solar energy. The State Development and Reform Commission (SDRC) and other authorities are already working on preferential policies to ease energy supply bottlenecks and foster renewable energy, including solar power, which...
(EnergyAsia, January 26) — Hong Kong-listed China Oilfield Services Limited (COSL, 2883HK) said it has secured three new oilfield service contracts for pre-drilling, drilling fluid and cementing operations in M (Onshore) block with CNOOC Myanmar Limited (CML). These pre-drilling and drilling fluid contracts are the first overseas projects of the kind under well services segment...
(EnergyAsia, January 27) — India’s coal production rose 5% to reach 355 million tonnes last year, the state Press Information Bureau reported. Coal supplies dispatched to power companies reached 278 million tonnes, up from 270 million in 2004. During 2005, Coal India Limited sanctioned five new projects with a capacity of 63.5 million...
(EnergyAsia, January 27) — China’s National Development and Reform Commission (NDRC) has lifted price controls on coal supplies to power generation firms. NDRC cited adequate coal supplies a the reason for lifting the controls adopted last year. But it told coal firm and power generators to negotiate and determine prices in a “rational way.”...
(EnergyAsia, January 27) — Steel Authority of India Limited (SAIL) wants a joint venture with Coal India Limited (CIL) to boost coal supplies it needs to reach its steel production targets. SAIL has announced a production target of 20 million tonne by 2011-12. SAIL said that it will work with CIL to jointly develop...
(EnergyAsia, January 27) — Singapore-based Keppel FELS Limited said it has secured a repeat order for an ultra-deepwater semisubmersible drilling rig from a wholly-owned subsidiary of ENSCO International Incorporated (ENSCO). The project is valued at US$338 million. The rig is scheduled for delivery in the first quarter 2009. To be named ENSCO 8501, this...
(EnergyAsia, January 27) — High oil prices last year helped Singapore Petroleum Company (SPC) earn a 60.1% rise in net profit to a record S$403.6 million. (US$1=S$1.65). The group reported a 51.3% rise in sales to S$7.5 billion. SPC said it realised refining margins averaging more than US$4 per barrel for the year. ...
(EnergyAsia, January 27) — Malaysia LNG Sdn Bhd (MLNG), a subsidiary of Petronas, has signed a Confirmation of Intent (COI) agreement to supply Japan’s Shikoku Electric Power Co Inc up to 420,000 metric tonnes per annum (mtpa) of liquefied natural gas (LNG) for 15 years. The contract starts 2010, with an option to extend for...
(EnergyAsia, January 27) — Engineering firm Foster Wheeler Ltd said one of its subsidiaries has been awarded a contract by Abu Dhabi Gas Industries Ltd. (GASCO) to provide management services for the engineering, procurement and construction (EPC) phase of its Habshan gas complex expansion project at Habshan, Abu Dhabi, UAE. GASCO, a subsidiary of Abu...
(EnergyAsia, January 27) — India’s National Thermal Power Corp (NTPC) and Ceylon Electricity Board (CEB) are planning a coal-fired power project in Trincomalee in Sri Lanka’s Tamil speaking eastern region, the Hindustan Times reported. The project will comprise two 250 megawatt (MW) units. The companies plan on building on another bi-lateral venture at Trincomalee...
US engineering giant GE Energy said its 2.5-megawatt wind turbine technology is being introduced into Japan through an agreement that will add 85 megawatts of wind energy capacity to the country’s electricity grid. Currently being developed by Clean Energy Factory, Inc, a wind energy producer based in Nemuro, Hokkaido, the three projects covered by...
New York-based consultants Eurasia Group said China faces the prospects of increased social unrest in 2006, ranking it as the second most important political risk for the world this year after the Iran nuclear issue. In a report, Eurasia Group’s Asia analysts warned: “Incidents of mass protest are on a long-term secular rise, creating...
(EnergyAsia, January 26) — A variety of technological advances being developed by Australian science agency CSIRO can dramatically reduce the country’s greenhouse gas emissions, said CSIRO’s chief of energy technology, David Brockway. One of the key initiatives being developed by CSIRO’s Division of Energy Technology and Energy Transformed Flagship, known as Post Combustion Capture...
China’s main upstream company, CNOOC Limited, said it is aiming to raise hydrocarbon production by around 9% this year to around 168 and 170 million barrels of oil equivalent (BOE). Last year, the company produced an estimated 153 to 157 million BOE. It expects net offshore production in China to come in around 148 to...
(EnergyAsia, January 26) — Australian upstream company Woodside said its revenue grew 29% to a record A$2,746.7 million last year, while its hydrocarbon production rose 4% to 59.7million barrels of oil equivalent (Mmboe). Higher energy prices contributed to its record revenues. For the year ahead, Woodside said its Chinguetti, Otway and Enfield projects are...
(EnergyAsia, January 26) — A consortium comprising Belgium’s SUEZ Energy International, UK’s International Power and Japan’s Sumitomo Corporation has signed a 20- year power and water purchase agreement with Bahrain’s Ministry of Electricity and Water (MEW) for the Al Hidd independent power and water project in Bahrain. The agreement will cover the output from the...
The Canadian port of Prince Rupert has announced that it has cleared a key hurdle in the expansion of its terminal for handling increased volume in the country’s trade with Asia including coal and oil exports. Prince Rupert is located in northwestern British Columbia province which is gearing up for expanded trade ties with Asia....
(EnergyAsia, January 26) — A Shell-Petronas Carigali-ConocoPhillips joint venture has made its fourth oil and gas discovery in waters off the coast of northwest Sabah state in Malaysia. The discovery was made in the Pisagan-1A exploration well located in Deepwater Block G. Shell Malaysia said the Pisagan-1A exploration well encountered both oil and gas...
(EnergyAsia, January 26) PetroChina Company Limited said it achieved “healthy” growth in 2005, with its key operational data indicating sound business performance. It said its total oil and gas output rose by 5.5% to 1.034 billion barrels of oil equivalent. Crude oil output grew 1.5% to 842 million barrels, the highest level since the...
(EnergyAsia, January 26) — Washington DC-based Securing America’s Future Energy (SAFE), and the World Economic Forum (the Forum) have announced that they will conduct a simulation exercise with senior government decision makers and business leaders to define and address the global challenge of oil security. The event will take place today at a closed-door Industry...
(EnergyAsia, January 25) — The rise of China and India presents both a potential crisis and an opportunity, leading the world towards either growing ecological and political instability or a development path based on efficient technologies and better stewardship of resources. “Rising demand for energy, food, and raw materials by 2.5 billion Chinese and...
(EnergyAsia, January 25) — The Australian Gas Light Company (AGL) said it has finalised an agreement with Oil Search Limited for the acquisition of a 10% interest in the Papua New Guinea Gas Project for around US$400 million including interests in gas and oil reserves, production and processing infrastructure. An initial payment of about 90%...