(EnergyAsia, June 5, Friday) — Indonesia said it achieved only half its 60-million-ton coal production target for the first quarter as miners reacted to falling prices and weak demand brought on by the global economic crisis, said the Energy and Mineral Resources Ministry. Indonesia, the world’s second biggest coal exporter after Australia, has been forced...
(EnergyAsia, June 5, Friday) — China’s Yingli Green Energy said it has entered into an exclusive supplier framework agreement with AES Solar Energy, a developer, owner and operator of utility-scale solar plants. Yingli said it will be AES Solar’s exclusive supplier of polycrystalline PV modules expected to be purchased by AES Solar for use in...
(EnergyAsia, June 4, Thursday) — Wartsila, a leading supplier of flexible power plants for the decentralised power generation market, said it has successfully performed a number of tests that demonstrate the ability of its engines to run on a range of vegetable and animal-based oils. This enables a wide range of renewable fuel options for...
(EnergyAsia, June 4, Thursday) — American Superconductor Corporation, a leading energy technology company, said its wholly-owned AMSC Windtec subsidiary has licensed India’s Inox Wind Limited to manufacture and sell its proprietary 2MW doubly-fed induction wind turbine globally. Inox, a member of the Inox Group, plans to begin series production of the wind turbines from next...
(EnergyAsia, June 4, Thursday) — Swiber Holdings Limited, a Singapore-based offshore oil and gas service provider, said it plans to raise up to S$73.9 million through a private sale of 84 million new ordinary shares at $0.88 each. The proposed sale represents approximately 19.9% of the existing issued share capital of Swiber. (US$1 = S$1.43)...
(EnergyAsia, June 4, Thursday) — Two international mining firms have set their eyes on acquiring a controlling stake in Indonesian coal miner PT Berau Coal. US-based Peabody Energy and Switzerland’s Xstrata are believed willing to pay up to US$1 billion for a controlling stake in Berau. The stake is being auctioned off by a consortium...
(EnergyAsia, June 4, Thursday) — Indonesia’s state oil and gas firm, Pertamina, said it will not be involved in building up new refineries in the country but will buy the products from them. State officials said Pertamina should not venture into risky projects such as building oil refineries as these are better left to private...
(EnergyAsia, June 4, Thursday) — A severe oil scarcity, which many analysts expect to occur in coming years, could set back or even end globalisation, said analyst Jeff Rubin. Mr Rubin, the former chief economist of Canadian Imperial Bank of Commerce, said the oil shock would change the global economy profoundly. It would completely change...
(EnergyAsia, June 4, Thursday) — For the first time in decades, Kabul is receiving a steady supply of electricity thanks to a major new transmission line linking Afghanistan’s capital with neighbouring Uzbekistan. The Asian Development Bank (ADB) is one of the largest partners in constructing a 420-km transmission corridor carrying electricity across some of the...
(EnergyAsia, June 4, Thursday) — Australian company National Biodiesel said it has been granted approval to build a A$243-million soybean processing and biodiesel production in Port Kembla in New South Wales state. (US$1=A$1.3). In announcing the project, Minister for Lands, Tony Kelly, said: “The project is expected to generate A$977 million in revenue and in...
(EnergyAsia, June 3, Wednesday) — Keppel FELS Limited, a wholly-owned subsidiary of Singapore’s Keppel Offshore & Marine Ltd, said it has delivered a new jack-up rig to China Oilfield Services Limited (COSL) ahead of schedule and with a clean safety record of 2.5 million manhours without lost-time incident. COSLSTRIKE is the third of three KFELS...
(EnergyAsia, June 3, Wednesday) — Indonesian coal miner PT Indo Tambangraya Megah (ITM) expects to boost production by up to 25% next year with the start-up of new mines. The company expects to produce 20.5 million tonnes this year, compared with 17.8 million tonnes in 2007. As a result of the global economic slowdown, ITM...
(EnergyAsia, June 3, Wednesday) — Australia has laid claim to plans to build the world’s largest solar power plant. Prime Minister Kevin Rudd said the government would contribute to building the A$1.4 facility which would have a capacity of 1,000 megawatts (MW). (US$1=A$1.3). The project would constitute an important part of his government’s recently announced...
(EnergyAsia, June 3, Wednesday) — ExxonMobil Chemical said it has developed two new grades of V series co-extruded battery separator films that will help make lithium-ion batteries (LIB) safer for use in hybrid and electric vehicles, power tools and electronic devices including laptop computers. Featuring improved thermal stability and lower shutdown temperature for a higher...
(EnergyAsia, June 3, Wednesday) — Several Middle Eastern countries have decided to postpone the implementation of natural gas projects due to the impact of the global financial and economic crisis, according to the Saudi-based Arab Petroleum Investment Corp (Apicorp). In a new study, the company calculated that natural gas projects worth about US$60 billion have...
(EnergyAsia, June 3, Wednesday) — China will continue to invest in hydropower projects to boost energy supply to its rural regions as well as protect the environment, said a government minister. Minister of Water Resources Chen Lei said rural hydropower facilities have helped avert the use of 56 million tonnes of coal and the output...
(EnergyAsia, June 3, Wednesday) — The oil and gas sector has been unevenly impacted by the global economic downturn which has created new risks for the industry that threaten the near-term survival and prospects of a number of oil and gas companies, according to consultant Ernst & Young. In a report based on interviews with...
(EnergyAsia, June 3, Wednesday) — The transport sectors in developing countries must act to reduce greenhouse gas emissions (GHG) as they will account for the overwhelming share of increased carbon dioxide output by 2030, according to a new declaration signed by the Asian Development Bank (ADB). While developed countries are still responsible for the largest...
(EnergyAsia, June 2, Tuesday) — Singapore-based Sembcorp Marine said its profit after tax and minority interests (PATMI) grew by 32% to S$120.2 million for the first quarter of 2009 from the S$91.3 million reported for the same period last year. Its group revenue rose by 49% to S$1.4 billion over the same period. (US$1=S$1.45) The...
(EnergyAsia, June 2, Tuesday) — Australia’s National Biodiesel Group said it will invest A$243 million in building a soybean-based biodiesel plant in New South Wales state. (US$1=A$1.24). The facility at Port Kembla in Illawarra will produce almost 290 million litres of biodesel a year when it starts up in 2011. The company said the plant...
(EnergyAsia, June 2, Tuesday) — China will have to attract RMB1.3-trillion worth of investments to achieve its renewable energy targets by 2020, said the National Energy Bureau. (US$1=RMB6.83). China has set itself the goal to generate 15% of its energy needs from renewables within the next decade. By 2010, renewables and other low-polluting sources could...
(EnergyAsia, June 2, Tuesday) — China is well-placed to become a world leader in the production and use of electric vehicles that will use renewable energy as fuel. At the recently concluded Shanghai Auto Show, some 50 new electric-vehicle car models were launched, underlining the country’s determination to stake a leadership role in this emerging...
(EnergyAsia, June 2, Tuesday) — Indonesian coal firms PT Adaro Energy and PT Indo Tambangraya Megah (ITM) are expecting improved financial results this year as a result of higher coal prices and improved demand. Adaro expects a “double-digit” growth in revenues and profits for 2009. The company said it expects its coal production to rise...
(EnergyAsia, June 2, Tuesday) — Equity firm Harbert Australia Private Equity said it is paying A$50 million to acquire an 18.1% stake in Solar Shop Australia Pty Ltd, an installer of grid connect solar systems in Australia. The investment was made from its Harbert Australian Private Equity Fund I. (US$1=A$1.3). Solar Shop specialises in selling...
(EnergyAsia, June 2, Tuesday) — Canada-listed Cathay Forest Products Corp., said it has agreed to pay C$2.9 million for a 40% stake in privately held Eco-Energy China Group, a vertically integrated biodiesel producer in China. Cathay Forest said Eco-Energy, based in the southwestern province of Guizhou, is a valuable addition to its portfolio of forestry...