(EnergyAsia, April 5 2011, Tuesday) — Thai coal mining giant Banpu Plc expects to sell its coal at an average price of US$90 per tonne this year, up from US$74.6 a tonne last year, said CEO Chanin Vongkusolkit. This should boost sales revenue by some 40% to 90 billion baht this year (US$1=30 baht). Coal...
(EnergyAsia, April 5 2011, Tuesday) — With an eye on rising domestic energy consumption, China’s National Development and Reform Commission has again reduced the country’s quota for coal exports. The first batch of the quota, about 18 million tonnes, has been released, the commission said. That’s 30% lower than the first batch of export quota...
(EnergyAsia, April 5 2011, Tuesday) — The world isn’t about to see coal demand outpacing production capacity given the plentiful supply in parts of the US as well as in western China and Mongolia. That’s according to Fred Palmer, chairman of the World Coal Association and a key executive at Peabody Energy, the world’s largest...
(EnergyAsia, April 5 2011, Tuesday) — Ensham Coal Sales Company of Australia has agreed to a long-term deal to supply coal to Vietnam National Oil and Gas Group (PetroVietnam). A deal was recently reached between Ensham and PetroVietnam’s coal distribution and import company, PV Coal. Ensham has three 35-year mining licences to exploit an area...
(EnergyAsia, April 5 2011, Tuesday) — Qatar is producing its maximum 77 million tonnes of liquefied natural gas (LNG) a year thanks to last week’s boost from Qatargas to add to RasGas’s production. Qatargas said it achieved an “historic milestone” operating all seven of its liquefaction trains at capacity to produce 42 million tonnes of (more…)
(EnergyAsia, April 4 2011, Monday) — CNOOC Limited, the listed arm of China’s largest offshore petroleum giant, China National Offshore Oil Corp, and France’s Total have each agreed to acquire from UK’s Tullow a one-third interest in three prospective onshore areas in Uganda. Subject to closing terms and conditions and approvals from the Ugandan government, (more…)
(EnergyAsia, April 4 2011, Monday) — A Thai firm is looking to build a 4,000MW coal-fired power plant in Tavoy town on the southern Tenesserim coastline of Myanmar. The Italian-Thai Development Public Company Ltd said it has won approval for a 60-year concession from the Myanmar ruling junta to also establish a deep-sea port and...
(EnergyAsia, April 4 2011, Monday) — Mongolia has trimmed the number of contenders for the contract to develop the central-west part of its giant Tavan Tolgoi coal field to six from the initial 15. State-run Erdenes MGL, which owns the asset, plans to pick one to three winners by July said executive director Baasangombo Enebish....
(EnergyAsia, April 4 2011, Monday) — India would be badly hit if Indonesia proceeds with its plan to ban the exports of low-grade thermal coal by 2014 that would reduce global supply by 10%, said analysts. Indonesia accounts for around 30% of the global thermal coal supply, the bulk of it low-quality material of between...
(EnergyAsia, April 4 2011, Monday) — Having identified coal as a strategic commodity, China will be looking to use some of its nearly US$3-trillion worth of foreign exchange reserves into acquiring tangible assets such as iron ore and coal mines. There are plans to establish iron ore and coal reserves along the lines of emergency...
(EnergyAsia, April 4 2011, Monday) — In a bid to secure stable coal supply, Japan’s Chubu Electric Power Co is buying a 5.95% stake in the Integra Coal Mine project in Australia from trading firm Toyota Tsusho Corp. This will be the first investment by Japan’s third-biggest power firm in an international coal mine. Separately,...
(EnergyAsia, April 1 2011, Friday) — US-based Peabody Energy said it will source over two years two million tons of coal from an East Kalimantan mine for export to its Asian customers. Peabody said its Singapore office will undertake the deal with the mine’s owner, Indonesia’s PT Cahaya Energi Mandiri (CEM). Peabody said the agreement...
(EnergyAsia, April 1 2011, Friday) — Oil producing countries are getting so used to the US$100/barrel price now that they are setting their sights on making US$120 the new normal. With inflation of food, fuel and essentials a permanent scourge on their national budgets, oil producers realise US$100 oil has lost its shock value, and...
(EnergyAsia, April 1 2011, Friday) — Inner Mongolia Autonomous Region was China’s largest coal-producing province with an output of 786.65 million tons in 2010. According to the Coal Industry Bureau of Inner Mongolia, the region produced 46 million tons more than Shanxi Province, the largest producer of raw coal in China in 2009. Inner Mongolia’s...
(EnergyAsia, April 1 2011, Friday) — Citing the need to meet the country’s growing demand for electricity, Indonesia’s Energy and Mineral Resources Minister Darwin Zahedi Saleh has appealed to domestic miners to sell coal to state utility Perusahaan Listrik Negara (PLN) at below market prices. He made the appeal as PLN has been struggling to...
(EnergyAsia, April 1 2011, Friday) — US-based conglomerate General Electric Company (GE) said it has inaugurated Russia’s first coal-bed-methane (CBM) to energy project at Kuzbasskaya Energosetevaya Compania’s (KEC) Talda site located near Kemerovo city. The project involves GE’s 1-megawatt (MW) J320 Jenbacher engine which uses the captured gas to provide electricity that is ultimately sold (more…)