(EnergyAsia, August 3 2010, Tuesday) — The Asian Development Bank (ADB) has upgraded its economic forecast for developing Asia after first-quarter data showed broad-based growth driven by buoyant exports, strong private demand, and sustained stimulus policy effects. In a special assessment of the region, ADB said it now expects developing Asia to grow by an...
(EnergyAsia, August 3 2010, Tuesday) — Proponents of a planned first grid connected demonstration of a conventional geothermal play in Australia’s Victoria state are hoping to raise capital and proof-of-concept to launch a trial 12-megawatt power supply into the state’s grid within three years. At last month’s Paydirt 2010 Resources Victoria Conference in Melbourne, Mark...
(EnergyAsia, August 3 2010, Tuesday)— Angola expects to raise its oil production from under 1.8 million b/d now to two million b/d from 2012 when it starts producing from new deepwater fields over the next two years. The country, which rivals Nigeria as Africa’s biggest oil producer, could hit its full production capacity in 2011...
(EnergyAsia, August 3 2010, Tuesday) –China is planning to form 20 large coal mining groups as part of an industry consolidation plan to improve efficiency and productivity while reducing its accident rates. To be implemented under the country’s 12th five-year plan for the coal industry, the programme will aim to whittle down the number...
(EnergyAsia, August 2 2010, Monday) — Australian oil and gas producer Santos said it has executed a A$2 billion loan facility from nine banks to refinance its existing S$700 million of undrawn bilateral bank facilities maturing between 2011 and 2013. (US$1=A$1.2). Santos executive vice president and chief financial officer Peter Wasow said the facility will (more…)
(EnergyAsia, August 2 2010, Monday) — Leading global bunker broker and trader KPI Bridge Oil Singapore Pte Ltd, a fully owned subsidiary of the London-based KPI Bridge Oil Group, has moved its offices to 1 Raffles Place in the heart of downtown Singapore. Due to the steady growth and expansion of its bunker brokering and (more…)
(EnergyAsia, August 2 2010, Monday) — Vietnam has started building a new sea port in Kien Giang province with a 12-million-tonne coal terminal as its centrepiece when it starts up in 2013. The US$800 million project to develop Nam Du port by Tan Tao Group will stimulate the economy of the Mekong Delta areas. Working...
(EnergyAsia, August 2 2010, Monday) — FSL Trust Management Pte Ltd (FSLTM), the trustee-manager of First Ship Lease Trust said it has filed a writ of summons in the Supreme Court of Singapore against oil trader Daxin Petroleum Pte Ltd and affiliates in connection with the arrest of its vessels over a dispute of unpaid...
(EnergyAsia, August 2 2010, Monday) — HSBC Bank plc said it has established a strategic alliance in energy trading with Total Oil Trading SA (TOTSA), the trading arm of France’s energy major Total. HSBC said the alliance will open up new segments of the markets to both partners and will enable the bank to offer...
(EnergyAsia, August 2 2010, Monday) — China, the world’s largest energy user and polluter, is considering capping its coal production by 2015 to reduce fossil fuels consumption and carbon emissions. Coal, which accounts for the bulk of China’s carbon emissions, provides 70% of the country’s energy use. The National Energy Administration (NEA) wants to...
(EnergyAsia, August 2 2010, Monday) — US major Chevron Corporation said its Australian subsidiaries have signed a Heads of Agreement (HOA) with Korea Gas Corporation (KOGAS) for the delivery of liquefied natural gas (LNG) from the Chevron-operated Wheatstone natural gas project in Australia. KOGAS expects to purchase 1.5 million tons per annum (MTPA) of LNG...