(EnergyAsia, January 14 2011, Friday) — As China’s energy demand continues to grow and it shows a willingness to invest, Canada should develop a clear strategy to effectively engage the world’s second largest energy producer and consumer. This is one of the key messages from Wenran Jiang in a recent study of China’s energy...
(EnergyAsia, January 14 2011, Friday) — US private equity firm TPG and sovereign wealth fund Government of Singapore Investment Corp (GIC) have jointly invested in Indonesia’s coal mining services firm Delta Dunia Makmur through a share purchase. The estimated US$400 million private purchase followed a slew of similar moves by Indian and Chinese companies seeking...
(EnergyAsia, January 14 2011, Friday) –– US coal mining giant Peabody Energy has signed an agreement to source coal from Indonesia’s PT Supra Bara Energi (SBE) for re-export to Asian customers through Peabody’s coal trading and brokerage platform in Singapore. Over the next five years, Peabody will source several million tons of coal from SBE’s...
(EnergyAsia, January 14 2011, Friday) — State oil and gas company PetroVietnam said it will soon start construction of a US$1.2 billion 1,200-megawatt coal-fired power plant in the Mekong Delta province of Soc Trang. Petrovietnam has awarded the contract to build the Long Phu 1 plant to subsidiary Petrovietnam Technical Services Corp. Comprising two generators,...
(EnergyAsia, January 13 2011, Thursday) — Cavico Corp, a Nasdaq-listed infrastructure construction, infrastructure investment, and natural resources conglomerate based in Vietnam, said its subsidiary, Cavico Bridge and Tunnel, has secured a US$2 million tunnel excavation contract for the Bac Coc Sau coal mine project in Quang Ninh province. The 13-month contract was awarded by Ha...
EnergyAsia, January 13 2011, Thursday) — Singapore’s bunker fuel sales volume crossed the 40-million-tonne mark for the first time, rising by 12.3% to a record 40.9 million tonnes last year, compared to 36.4 million tonnes in 2009. According to Maritime and Port Authority of Singapore (MPA) data released last week, Singapore retained its global leading...
(EnergyAsia, January 13 2011, Thursday) — Apart from affirming traditionally warm political ties, Russia and India wrapped up a wide-ranging set of deals following last December’s summit between Indian Prime Minister Manmohan Singh and Russian President Dmitry Medvedev in New Delhi. The two leaders oversaw the signing of 30 trade and economic pacts covering defence,...
(EnergyAsia, January 13 2011, Thursday) — China plans to raise its coal imports from Russia to 15 million tons annually through 2015 and to at least 20 million tons a year thereafter through 2035. Last year, China imported 12 million tons of Russian coal, a small portion of its estimated net imports of 143 million...
(EnergyAsia, January 13 2011, Thursday) — Greenpeace said it does not want ‘ dirty’ nuclear power to be introduced into Hong Kong. The environmental lobby group forcibly made its case last November when it held two demonstrations against Chief Executive Donald Tsang at the C40 Climate Leaders workshop in Hong Kong. Six activists were arrested...
(EnergyAsia, January 13 2011, Thursday) — Analysts at Singapore’s UOB Kay Hian brokerage said they have raised their crude oil price assumption to US$90 a barrel and US$95 respectively for 2011 and 2012. US benchmark WTI oil price recently reached US$90 a barrel, having exceeded the firm’s previous assumption of US$85. Over the next two...
(EnergyAsia, January 12 2011, Wednesday) – Too much foreign money coming in to Canada’s oil and gas business can have a negative impact over the sector. “Problems always arise when large volumes of capital enter a constrained area with limited labour, especially when it happens over a relatively short period of time,” wrote economist...
(EnergyAsia, January 12 2011, Wednesday) — Indonesia’s state-owned Pertamina and US oil major Exxon Mobil are expected to soon start work on developing the offshore Natuna D-Alpha oil and gas block in the South China Sea. After years of protracted negotiations, the companies signed an agreement last December to jointly develop the block, which...
(EnergyAsia, January 12 2011, Wednesday) — Peabody Energy, the world’s largest private-sector coal company with 2009 sales of 244 million tons and US$6 billion in revenues, has named Zhenchun Shi as president for Asia. Mr Shi will be responsible for growing Peabody’s business in Asia, which is expected to account for the majority of new...
(EnergyAsia, January 12 2011, Wednesday) — Chinese high-grade metallurgical coking coal supplier Puda Coal Inc said its 90%-owned subsidiary, Shanxi Puda Coal Group Co Ltd, has completed the acquisition of coal mining rights and assets of four coal mines for a total of RMB473.7. (US$1=RMB6.63). Acquired under phase II of Puda’s Pinglu Project, the four...
(EnergyAsia, January 12 2010, Wednesday) — Houston, US-based energy and gasification technology company Synthesis Energy Systems Inc (SES) said it successfully gasified over 2,000 tons of high-ash coal during a commercial-scale demonstration test at its Zao Zhuang plant in China’s Shandong province. Providing technology, equipment and engineering services, SES converts low rank, low cost coal...
(EnergyAsia, January 12 2011, Wednesday) — Doosan Heavy Industries and Construction Co Ltd, one of South Korea’s largest heavy industrial companies, said it has secured an agreement for the construction of four 600-megawatt (MW) power plants in Vietnam through a consortium with LILAMA, a local construction firm, and state National Research Institute of Mechanical Engineering...
(EnergyAsia, January 11 2011, Tuesday) — US coal exports, including its metallurgical grade, could decline this year as Asian buyers will look to suppliers closer to home to take advantage of lower shipping costs, according to the US Energy Information Administration (EIA). This forecast made last year is likely to be revised following the unexpected...
(EnergyAsia, January 11 2011, Tuesday) — The governments of South Korea and Vietnam recently signed four agreements to jointly develop energy and minerals projects. The agreements were signed during last December’s visit to Vietnam by a South Korean business and government delegation led by Deputy Economy and Knowledge Minister Park Young June. The biggest project...
(EnergyAsia, January 11 2010, Tuesday) — Advanced Holdings Ltd, a Singapore-listed company which designs and supplies process equipment for energy companies, said it has secured new oil and gas contracts totalling S$12.1 million. (US$1=S$1.29). Scheduled for completion and delivery in 2011, the projects include the design and fabrication of shell and tube heat exchangers in...
(EnergyAsia, January 11 2011, Tuesday) — Foster Wheeler AG, a Swiss global engineering and construction contractor and power equipment supplier, said a subsidiary has secured a contract with Shanghai Boiler Works Ltd to help design two pulverised coal (PC) steam generators for a power project in Vietnam. Foster Wheeler will provide the design review of...
(EnergyAsia, January 11 2011, Tuesday) — Brazil’s state energy giant Petrobras said it produced a record 2.003 million b/d of oil production last year. It broke through the two-million b/d barrier, thanks to a strong December finish of 2.12 million b/d, its highest monthly production on record. Petrobras said its production has been helped by...
(EnergyAsia, January 11 2011, Tuesday) — Japan and Russia are planning to jointly set up a liquefied natural gas (LNG) plant in Vladivostok city in the Russian Far East by 2017. The plant will tap natural gas from eastern Siberia and have the capacity to export five million tonnes a year of LNG to Japan....
(EnergyAsia, January 10 2011, Monday) — In response to action by leading environmental groups, the US Environmental Protection Agency (EPA) is taking action to keep pollution from coal plant smokestacks out of America’s waterways. According to a joint statement issued by four environmental groups, the EPA will issue these new rules, which would protect Americans...
(EnergyAsia, January 10 2011, Monday) — With robust growth spurring elevated levels of inflation, India should speed up its return to pre-crisis monetary and fiscal policies to keep the economy in check, said the International Monetary Fund (IMF) in its annual assessment of one of the world’s fastest growing economies. In their report, IMF economists...
(EnergyAsia, January 10 2011, Monday) — Russia is forming partnerships with Cuba and Pakistan to boost oil and gas production as well as expand its exports to new markets. State Gazprom Neft is looking to tap Cuba’s offshore oil fields in the Gulf of Mexico. It has agreed to take a 30% stake in a...