INDONESIA: Coal miners continue to attract foreign interest

(EnergyAsia, January 20 2011, Thursday) — Foreign investors are interested to invest in Indonesia’s coal mining firms, with Australia’s Kangaroo Resources and Coal India Limited (CIL) among the latest to express their interest. Kangaroo Resources has forged a deal to buy 99% of the Pakar thermal coal project in Indonesia’s East Kalimantan from PT Bayan...

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CHINA: PetroChina to realise RMB106 million profit from sale of storage firm to CNPC

(EnergyAsia, January 20 2011, Thursday) — PetroChina Co Ltd is selling its entire stake in a storage company to its parent, China National Petroleum Corp (CNPC), for RMB2.11 billion in line with its restructuring strategy.(US$1=RMB6.6). PetroChina said it will use the proceeds from the sale of its holdings in PetroChina Guangxi Oil Storage Ltd to...

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CHINA: International firms seek to invest in oil storage terminals

(EnergyAsia, Jan 16 2011, Sunday) – Switzerland’s Mercuria and Dubai’s  Emirates National Oil Company (ENOC) have joined other international companies seeking to expand their investments in oil storage terminals in China. Mercuria’s proposed terminal in Qingdao will be its second fuel storage investment in China after the success of a smaller one, also located on...

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ASIA: Three provinces join forces to promote Canada’s energy exports

(EnergyAsia, January 20 2011, Wednesday) — Three of Canada’s western provinces have formally teamed up to develop a joint strategy and promote exports of energy and other natural resources to Asia. Following the success of their Premiers in leading business delegations to Asia last year, the governments of Alberta, British Columbia, and Saskatchewan, signed the...

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ASIA: LNG imports likely to rise this year

(EnergyAsia, January 19 2011, Wednesday) — Liquefied natural gas prices are likely to be supported by a consecutive-year rise in Asian imports and increased European demand for 2011, according to a Singapore-based consulting firm. As a result, FACTS Global Energy expects a “significant” amount of activity in the spot LNG market this year. Its analysts...

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ASIA: Panama and Suez Canals playing increasing role in world LNG trade

(EnergyAsia, January 19 2011, Wednesday) — Representatives from the Panama Canal Authority (PCA) and the Suez Canal Authority (SCA) will speak at a US conference focusing on infrastructure expansions, tolls and capabilities in to assist the world liquefied natural gas (LNG) trade The Houston, Texas conference on February 17 is organised by consultant Zeus Development...

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DUBAI: DEWA receives nine bids for study for tender on coal-based electricity generation

(EnergyAsia, January 19 2011, Wednesday) — Dubai Electricity and Water Authority (DEWA) said it has received nine bids for its tender calling for a technical and economic study for the application of clean coal-based electricity generation for Dubai. The bids came from clean coal technology companies in response to a tender announced last November as...

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MIDDLE EAST: Singapore’s Technics bags S$23.5 million EPCC project

(EnergyAsia, January 19 2011, Wednesday) — Technics Oil and Gas Ltd, a Singapore-based engineering service provider for the oil and gas industry, said it has landed a S$23.5 million contract with an unnamed Middle Eastern oil and gas company for the engineering, procurement, construction and commissioning (EPCC) of process equipment for early production systems. (US$1=S$1.3)....

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ASIA: Electric vehicle sales to total 1.4 million units by 2015, said Pike Research

(EnergyAsia, January 19 2011, Wednesday) — The sales of plug-in hybrid and all-electric vehicles (PEVs) in Asia will surpass 1.4 million units in the five-year period to 2015, according to US consulting firm Pike Research. In a new report, the Boulder, Colorado-based firm noted that Asia has implemented various national-level initiatives and programmes to promote...

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CHINA: Shareholders approved Shenhua Energy’s RMB8.7 billion takeover of mining assets

(EnergyAsia, January 19 2011, Wednesday) — Hong Kong-listed China Shenhua Energy Company Limited (CSEC) said it has received shareholder approval to acquire the stakes of its parent company and other subsidiaries in 10 mining companies for more than RMB8.7 billion. (US$1.RMB6.6).   The companies, which are involved in coal exploration, power generation, trading, information technology (more…)

SINGAPORE: MPA’s chief on environmental challenges facing shipping and port activities

(EnergyAsia, January 18 2011, Tuesday) — The following is an edited version of the speech delivered by Lam Yi Young, chief executive of the Maritime and Port Authority of Singapore (MPA) at the Sustainable Marine Transportation Conference 2011. Held yesterday, the event was jointly organised by the Royal Norwegian Embassy in Singapore, Innovation Norway and (more…)

COMPANY: Vopak’s Eelco Hoekstra begins new role as chairman of the executive board

  (EnergyAsia, January 18 2011, Tuesday) — Royal Vopak, the world’s largest independent tank storage service provider for bulk liquid chemicals, gasses and oil products, said Eelco Hoekstra assumed his new role as chairman of the executive board on January 1. Mr Hoekstra, a former President of the company’s Asia unit, is supported by two (more…)

SINGAPORE: Ezra on course for leading market position with full-year operation of Aker Marine

(EnergyAsia, January 18 2011, Tuesday) — Singapore’s Ezra Holdings Ltd expects to boost its position as a world leading support and marine services provider in the offshore oil and gas sector with its full-year operations of subsidiary Aker Marine Contractors (AMC) which was acquired for US$250 million last year. AMC, previously a fully owned subsidiary...

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INDIA: Hi-tech coal-fired boilers, steam turbine and generator plants begin operations

(EnergyAsia, January 18 2011, Tuesday) — Japan’s Mitsubishi Heavy Industries Ltd (MHI) and India’s Larsen & Toubro Ltd (L&T) have started up two joint-venture plants in Gujarat state in northwestern India to manufacture supercritical-pressure coal-fired boilers, and steam turbines and generators. Designed to address India’s rapidly-rising electricity demand, the two JV plants located in an...

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INDIA: Gujarat State Petroleum Corp to purchase LNG from Russia’s Gazprom unit in two-year deal

(EnergyAsia, January 18 2011, Wednesday) — India’s Gujarat State Petroleum Corp Ltd (GSPCL) has signed a two-year agreement to purchase 300,000 tonnes of liquefied natural gas (LNG) from a unit of Russia’s Gazprom Marketing & Trading Ltd (GM&T) from the second half of 2011. GM&T said Gazprom Marketing & Trading Singapore Pte Ltd will supply...

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CHINA: GLP purchased 20% stake in Chiwan oil logistics firm for HK$539.2 million

(EnergyAsia, January 18 2011, Tuesday) — Global Logistic Properties (GLP) said it has bought a 20% stake in Shenzhen Chiwan Petroleum Supply Base Co (SCPSB) for HK$539.2 million. (US$1=HK$7.77). SCPSB is the parent of BLOGIS, China’s second-largest logistics company, next only to GLP. GLP, majority-owned by the Government of Singapore Investment Corporation (GIC), purchased its...

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SINGAPORE: Chemoil buys OceanConnect’s marine fuels business for US$25 million

(EnergyAsia, January 17 2011, Monday) — Singapore-listed Chemoil, a world leading supplier of marine fuel, said it has completed the purchase of OceanConnect Holding’s (OCH) marine fuel business for US$25 million. It will continue to operate under the name of OceanConnect Marine (OCM). Chemoil said the purchase price took into account factors such as the...

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MARKETS: World LNG fleet expanded eight times over past decade, says consultant Zeus Development

(EnergyAsia, January 17 2011, Monday) — The world fleet of LNG tank trailers has grown eight times in little more than a decade, from 250 units to more than 2,000, according to survey of transport fleets and equipment manufacturers by Zeus Development Corporation. The study results, released last month by the US-based information clearing house...

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IRAQ: Rumaila exceeds 10% production improvement goal, said BP

(EnergyAsia, January 17 2011, Monday) — The Rumaila Operating Organisation (ROO) achieved a significant milestone in the re-development of the super-giant field in southern Iraq by raising production by more than 10% over its initial production rate of 1.7 million b/d announced in December 2009. Coupled with the approval of the Rumaila rehabilitation plan last...

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IRAQ: Emerson Process Management to equip new Al-Basra oil terminal with metering systems

(EnergyAsia, January 17 2011, Monday) — Iraq’s state-owned South Oil Company said it has awarded Minnesota, US-based process automation specialists, Emerson Process Management, a contract to provide crude oil metering systems and related technologies for the new Al-Basra oil terminal now under construction in the Persian Gulf. Raising Iraq’s oil export capacity by 2.7 million...

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CHINA: Puda Coal raised US$101.5 million in nine-million-share IPO

(EnergyAsia, January 17 2011, Monday) — High-grade metallurgical coking coal supplier Puda Coal Inc said it recently completed and closed its public offering of nine million shares of common stock at a public offering price of US$12 per share. Priced on December 8 2010, the public offering included the sale of 7.85 million primary shares...

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CHINA: Brightoil secures US$4 billion financing from China Development Bank

(EnergyAsia, January 17 2011, Monday) — Global bunker supplier Brightoil Petroleum Ltd said it has obtained US$4 billion from China Development Bank Corporation’s Hong Kong Branch (CDBHK) to finance its operations over the next five years. Brightoil said it will use the loan to add to its tanker vessel fleet, provide letters of credit and...

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TAIWAN: CPC to invest NT$21 billion to boost refinery over five years

  (EnergyAsia, January 17 2010, Monday) — Taiwan’s state-owned oil company CPC Corp is investing NT$21 billion over the next five years to expand and upgrade its refinery in Talin. (US$1=NT$29).   CPC currently operates three refineries at Kaohsiung and Talin, both located in Kaohsiung City, and Taoyuan in northern Taiwan, with a combined processing...

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AUSTRALIA: Riversdale recommended shareholders to accept A$16 cash per share takeover offer

(EnergyAsia, January 14 2011, Friday) — Australia-listed Riversdale Mining Ltd has recommended its shareholders to accept Rio Tinto Group’s all-cash off-market takeover bid at A$16 per share for their shares, valuing the company at A$3.9 billion. (US$1=A$1.02). The Sydney-based firm owns substantial coal reserves in Mozambique. The offer is subject to conditions including a greater...

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AUSTRALIA: SouthGobi Resources completes strategic investment in Aspire Mining

(EnergyAsia, January 14 2011, Friday) — SouthGobi Resources Limited, a Canadian mining firm focused on exploring and developing Permian-age metallurgical and thermal coal deposits in Mongolia, said it has purchased a stake in Australia’s Aspire Mining Limited through a private placement. Its intentions announced last October 26, SouthGobi acquired 105,860,186 common shares of Aspire for...

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