(EnergyAsia, October 27 2010, Wednesday) — Industry insiders doubt Iraq’s ability to meet its ambitious goal of raising its crude exports to 12 million b/d within six years from 2.3 million at present. They said ongoing security concerns, weak finances and technical difficulties are likely to hinder Iraq from achieving its export goal. Some think...
(EnergyAsia, October 27 2010, Wednesday) — Falling domestic oil demand may prompt Japanese refiner Cosmo Oil Co to slash its 500,000 b/d refining capacity by as much as 20% by fiscal year 2013. The company is looking to close part of its operations at four refineries, a trend spreading among downstream oil companies in Japan....
(EnergyAsia, October 27 2010, Wednesday) — Gazprom Marketing and Trading (GM&T), a subsidiary of the Russian gas major, said it has agreed to purchase all primary carbon emissions certificates (CERs) from a successfully registered CDM 26 MW wind power project in China’s Fujian province. The CER purchase from the project in Zhangpu County owned by (more…)
(EnergyAsia, October 26 2010, Tuesday) — Germany’s Siemens Energy said it officially handed over units 30 and 40 of a combined cycle power cogeneration plant to Singapore’s PowerSeraya last week. The new units have a fuel efficiency rate 75% higher than the three oil-fired plants on Jurong Island that they replaced. Siemens built the turnkey, (more…)
(EnergyAsia, October 26 2010, Tuesday) — PowerSeraya Ltd, a wholly-owned subsidiary of Malaysia’s YTL Power International Bhd, has officially started up its new 800 megawatt (MW) combined-cycle power plant on Singapore’s Jurong Island. The natural gas-fired plant simultaneously generates electricity and steam to service growing demand from the over 95 petrochemical companies on the island. (more…)
(EnergyAsia, October 26 2010, Tuesday) – China National Offshore Oil Corporation (CNOOC) is planning to build another six liquefied natural gas (LNG) receiving terminals and 15 compressed natural gas (CNG) service stations in China, according to the State-owned Assets Supervision and Administration Commission (SASAC). The company has already developed thee LNG terminals and is operating...
(EnergyAsia, October 26 2010, Tuesday) — Fresh from battling China’s largest oil spill in July and August, Dalian Port (PDA) said it is hoping to raise nearly 3.67 billion yuan in an offering of up to 1.2 billion shares through the Shanghai stock exchange. (US$1=6.6 yuan). The Hong Kong-listed company, which operates northern China’s largest...
(EnergyAsia, October 26 2010, Tuesday) — The Maritime and Port Authority of Singapore (MPA) said it has signed a Memorandum of Understanding (MOU) with Dubai Maritime City Authority (DMCA) to foster maritime relations. MPA said it will explore opportunities to collaborate with DMCE in planning and regulating marinas and waterways, promoting maritime environment protection, and...
(EnergyAsia, October 26 2010, Tuesday) — China National Offshore Oil Corp (CNOOC) is looking to develop an oil storage terminal at its newly acquired Dongying port in Shandong province. The acquisition will strengthen the company’s operations in North China, and complement its holding of upstream oil and gas assets in Bohai Sea and East China...
(EnergyAsia, October 26 2010, Tuesday) — Major buyers of liquefied natural gas (LNG) helped raise its imports by 28% in the first half of 2010 compared to the same period last year, according to Australia’s energy economics group, EnergyQuest. In a detailed analysis of official international trade statistics, EnergyQuest said it found that the North...
(EnergyAsia, October 26 2010, Tuesday) — Unable to reach an agreement on technical details, Bahrain Petroleum Co (BAPCO) and its partners have canceled their plan to set up a US$150 million oil storage and export facilities on Bahrain’s Sitra island. BAPCO, Saudi Arabia’s Arab Petroleum Investments Corp, Bahrain’s Holding Company and Kuwait’s Independent Petroleum Group...
(EnergyAsia, October 25 2010, Monday) — Award winning integrated logistics specialist Agility is targeting the oil and gas industry and its operations in Asia to spur its growth. Early this month, the company walked away with the prestigious ‘Logistics Award’ for the third consecutive year at the Lloyd’s List Asia Awards ceremony. Attended by 300 (more…)
(EnergyAsia, October 25 2010, Monday) — JTC Corporation, Singapore’s state industrial infrastructure specialist, said it has awarded the tender for the construction of a major offshore marine centre (OMC) at Tuas View to Muhibbah Engineering (Singapore) Pte Ltd. To be built on a 13-hectare waterfront infrastructure, the S$54 million OMC will be completed by November...
(EnergyAsia, October 25 2010, Monday) — Singapore’s Sembcorp Marine said its Sembawang Shipyard has secured two floating production storage and offloading (FPSO) contracts worth S$75 million. (US$1=S$1.3). The first contract, awarded by leading FPSO contractor BW Offshore, is for the conversion of a 97,172 -dwt tanker BW Genie into a floating production unit (FPU). Major...
(EnergyAsia, October 25 2010, Monday) — Keppel FELS Limited, a subsidiary of Singapore’s Keppel Offshore & Marine Ltd, said it has secured new contracts worth about US$101 million to complete and refurbish two semisubmersible drilling rigs respectively for Saipem S.p.A and Ensco plc. (US$1 = S$1.3). The first contract was awarded by Italy’s Saipem SpA...
(EnergyAsia, October 25 2010, Monday) — The Organisation of Petroleum Exporting Countries (OPEC) expects world oil demand to continue growing strongly to reach new record highs this and next year. In its latest monthly forecast, the cartel sees world demand rising by 1.34% or 1.13 million b/d to 85.59 million b/d in 2010, and by...
(EnergyAsia, October 25 2010, Monday) — Indian Oil Corporation (IOC) may have to re-position its new Rs298 billion export-oriented refinery at Paradip to supply fuel to the domestic market instead. (US$1=Rs44). To be commissioned by next March, the refinery has the capacity to produce 3.41 million tonnes (mt) of gasoline, 1.45 mt of jet kerosene,...
(EnergyAsia, October 25 2010, Monday) — Four of Europe’s five largest oil companies have ended or are in the process of ending their trade deals with Iran, according to the US State Department. Under pressure of sanctions, Royal Dutch Shell Plc, Total SA, Eni SpA and Statoil ASA will stop making new deals with the...
(EnergyAsia, October 25 2010, Monday) — India’s state Bharat Petroleum Corp (BPCL) is expected to start full commercial production of its greenfield refinery at Bina in Madhya Pradesh state next January, bringing the group’s total refining capacity to 30.5 million tons. The company had started up a crude distillation unit in June. The six-million...
(EnergyAsia, October 22 2010, Friday) — Singapore is targeting electronics, pharmaceutical firms and other industrial companies to use liquefied natural gas for their production facilities. BG Group, which in April 2008 won a 20-year contract to supply three million tons per year of LNG to Singapore, is promoting the fuel to prospective industrial customers after...
(EnergyAsia, October 22 2010, Friday) — The Singapore government has established a new network comprising senior officials from all its ministries to coordinate on key issues, risks and plans including security policies. The aim is to enable key state officials prepare to deal with looming issues and risks such as the supply of natural resources...
(EnergyAsia, October 22 2010, Friday) — Daewoo Shipbuilding & Marine Engineering Co expects its Papua New Guinea energy venture to pip Royal Dutch Shell Plc in the race to become the first company to produce natural gas from a floating liquefied natural gas (FLNG) facility. While Shell has ambitious plans to build as many as...
(EnergyAsia, October 22 2010, Friday) — World oil demand is expected to rise by 2.1 million b/d to reach 86.9 million b/d in 2010 and to 88.2 million b/d in 2011, said the International Energy Agency (IEA). The agency’s latest forecast for world oil demand in both years represents an upward revision of 300,000 b/d...
(EnergyAsia, October 22 2010, Friday) — UK mining group Rio Tinto Limited said it has opened Australia’s newest open cut thermal coal mine in Bowen Basin in Queensland state. With a reserve base of 189 million tonnes, the Clermont mine is expected to produce 100,000 tonnes of coal a year, with export reaching 12.2 million...
(EnergyAsia, October 22 2010, Friday) — Expect Iran’s oil exports to fall in the coming months on as wide-ranging sanctions imposed by the US and the European Union in July squeeze crude buyers. Western governments said previous sanctions aimed at curbing Iran’s nuclear ambitions have had limited impact on its oil exports. The latest moves,...