JAPAN: Oil companies restored 70-day stockpile on May 20

(EnergyAsia, May 31 2011, Tuesday) — Japan has reverted to its 70-day oil stockpile requirement, according to the trade ministry, as refiners that reduced throughput after the March 11 earthquake are close to operating normally again. Following the earthquake that crippled nuclear power plants in the northeastern Fukushima area, the government allowed the national oil...

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AUSTRALIA: ExxonMobil bans Woodside’s new CEO from key meetings

(EnergyAsia, May 31 2011, Tuesday) — ExxonMobil Corp has banned the new CEO of Australian upstream company Woodside from attending sensitive meetings involving any development of the giant Scarborough offshore gas field in Western Australia state. The US major deems Peter Coleman, a 27-year ExxonMobil veteran, to be a threat as he is in possession...

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CHINA: Canada seeks more time to decide on PetroChina-Encana deal

(EnergyAsia, May 31 2011, Tuesday) — Canada’s Industry Ministry said it needs more time to determine whether PetroChina’s planned C$5.4 billion acquisition of a 50% stake in a domestic natural gas venture complies with the country’s foreign investment law. (US$1=C$0.98). Christian Paradis is continuing the stance of his predecessor Tony Clement whose last statement before...

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MARKETS: France aims to completely ban fracking shale to produce natural gas

(EnergyAsia, May 31 2011, Tuesday) — France could to take the world’s most decisive and radical position in dealing with growing concerns about the health, safety and environmental impacts of extracting gas from shale through the controversial hydraulic fracturing or ‘fracking’ method. On June 1, the Senate will vote on passing into law a crucial...

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MARKETS: IEA makes first direct appeal to Middle East producers to boost output

(EnergyAsia, May 31 2011, Tuesday) — It smacks of desperation as the International Energy Agency (IEA) made an unprecedented direct appeal to the Middle East oil producing countries to boost output to help keep prices from rising. In the appeal, the IEA said further increases in crude prices would derail global economic recovery to the...

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MARKETS: Global LNG supply tighter than initially expected, prices seen rising

(EnergyAsia, May 31 2011, Tuesday) — The world liquefied natural gas (LNG) markets is likely to tighten further this year, with prices continuing to recover owing to the nuclear crisis in Japan following the March 11 earthquake, according to Barclays Capital. For the rest of the year, global LNG production may will still meet demand,...

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MARKETS: Consultant said high energy prices could derail world economic recovery

(EnergyAsia, May 31 2011, Tuesday) — High oil prices could threaten the world’s already fragile economic recovery, said John Westwood, chairman of energy consultant Douglas-Westwood (DW). In a hard-hitting address at the recent Breakbulk Europe conference in Belgium’s Antwerp city, Mr Westwood cited his company’s research showing that since 1973 the US had entered recession (more…)

COMPANIES: ExxonMobil, Total step up marketing of lubricants in Asia

(EnergyAsia, May 30 2011, Monday) — ExxonMobil and Total of France are stepping up their promotion and marketing of lubricants to industrial and marine users in Asia. ExxonMobil showcased its Mobil SHC synthetic industrial lubricants as offering superior quality and reliability to the upstream oil and gas sector at an industry event in Indonesia on (more…)

AUSTRALIA: Prime Minister Gillard launched construction work on A$16-billion GLNG plant

(EnergyAsia, May 30 2011, Monday) — Australia’s Prime Minister Julia Gillard has officially launched construction works on the massive A$16-billion Santos Gladstone liquefied natural gas plant (LNG) on Curtis Island in Queensland state. (US$1=A$0.98). Witnessing the start of a new economic boom for the region at last Friday’s ceremony were the Queensland Premier Anna Bligh (more…)

MARKETS: EIA examines scenarios for the future of US energy in Annual Energy Outlook 2011

(EnergyAsia, May 30 2011, Monday) — The US Energy Information Administration (EIA) has released its final version of Annual Energy Outlook 2011 (AEO2011) that includes 57 sensitivity cases based on different assumptions regarding market, policy and technology drivers, and their likely impact on energy production, consumption, technology, and market trends. In addition to considering alternative...

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ASIA: Canada to launch public consultations for Gateway oil pipeline project

(EnergyAsia, May 30 2011, Monday) — In response to environmental and aboriginal concerns, Canada’s federal government has created a joint panel to review the proposed construction of an Alberta-British Columbia pipeline to export crude oil to Asia, said Ed Stelmach, Premier of Alberta state. The high-level review will conducted by the National Energy Board and...

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AUSTRALIA: Investors met mid-sized energy and resources firms at Singapore event. Reporting by SURESH NAIR

(EnergyAsia, May 30 2011, Monday) — Australia’s booming economy is opening up opportunities for Asian investors to buy into their energy and resources sector. Last week, the Australian Securities Exchange (ASX) held events in Hong Kong (May 24) and Singapore (May 26) for investors to meet with the executives of some of Australia’s small and (more…)

CHINA: Kuwait Petroleum Corp, Sinopec to start work on joint refinery-petrochemical complex next year

(EnergyAsia, May 30 2011, Monday) — Kuwait Petroleum Corp (KPC) and China’s Sinopec will start building their long-delayed joint-venture oil refinery and petrochemical complex in southern China in the first quarter of next year. According to Kuwait’s official news agency, KUNA, the Chinese government gave its approval last March for the US$9 billion project to...

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IRAN: Blast at Abadan oil refinery during President’s visit

(EnergyAsia, May 27 2011, Friday) — At least two people died and 20 others were injured when Iran’s largest oil refinery in the southwestern city of Abadan exploded during a scheduled visit by President Mahmoud Ahmadinejad last Tuesday. Officials said the explosion was caused by a gas leak but could not determine if it might...

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UAE: Azerbaijan’s SOCAR to start up Fujairah storage terminal this year

(EnergyAsia, May 27 2011, Friday) — The State Oil Company of Azerbaijan (SOCAR) is expected to start up its oil terminal in Fujairah this year, said the UAE’s minister of the economy Sultan Bin Saeed Al Mansouri. In May 2010, SOCAR signed an agreement with Switzerland-based trader Aurora Progress to jointly develop the project. Comprising...

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AUSTRALIA: Shell to build multi-billion-dollar giant floating LNG terminal

(EnergyAsia, May 27 2011, Friday) — In announcing its decision to build the world’s first floating liquefied natural gas (FLNG) terminal, Royal Dutch Shell plc will also be laying claim to developing the biggest water-borne structure in history. The 448-m-long ‘Prelude FLNG’ facility, to be anchored 200 km off the Australian coast, will be constructed (more…)

CHINA: Diesel prices surge, export ban implemented on surging demand

(EnergyAsia, May 27 2011, Friday) — Diesel prices in Asia may revert to the 30-month high level hit in April as China suspends export of the fuel to conserve domestic supply during the peak demand summer period. In Asia, fuel demand for air conditioning and transportation rise during the summer months. This year, Asia’s diesel...

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ASIA: LNG imports surged more than 20%, led by post-quake demand from Japan

(EnergyAsia, May 27 2011, Friday) — Led by Japan, Asia’s imports of liquefied natural gas (LNG) in April surged 20.4% over the same month last year, according to Waterborne, the US-based consultant monitoring and analysing global LNG markets. Its most recent edition of The Asian Waterborne Report reported that April was the 19th consecutive month...

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CHINA: Vopak and partner to build new storage terminal for crude oil and oil products on Hainan Island

(EnergyAsia, May 27 2011, Friday) — Dutch oil and chemical logistics firm Royal Vopak said it and State Development Investment Corporation (SDIC) of China have decided to jointly invest, build and operate a crude and oil products storage terminal in Yangpu on China’s Hainan Island. The 58-hectare terminal, which has been approved by the National...

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CHINA: Sinopec and Sabic to build polycarbonate plant in Tianjin

(EnergyAsia, May 27 2011, Friday) — Saudi Arabia’s petrochemical giant Saudi Basic Industries Corp (Sabic) said it and China’s Sinopec have signed a deal to build a 260,000-ton-a-year polycarbonate plant in Tianjin city for start-up in 2015. The new plant will be an extension to the three-million-ton-a-year petrochemical complex that the two companies jointly started (more…)

SOUTH KOREA: Sovereign wealth fund KIC takes 0.9% stake in Noble Group

(EnergyAsia, May 26 2011, Thursday) — Noble Group, a Singapore-listed global supply chain manager of agricultural and energy products, metals and minerals, said the sovereign wealth fund, Korea Investment Corporation (KIC), has acquired a “significant and strategic” stake in the company. KIC purchased 59,283,851 shares equal to about 0.9% of Noble’s outstanding shares from Noble...

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SINGAPORE: Malaysian leader calls for increased electricity efficiency to support sustainable economic growth

(EnergyAsia, May 26 2011, Thursday) — Leo Moggie, chairman of Malaysian power utility Tenaga Nasional, gave an overview of the electricity industry and its role in supporting economic development in Southeast Asia when he spoke at last month’s inaugural Distinguished Speaker Programme presented by Singapore’s Energy Market Authority (EMA). A former energy minister in his...

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NEW ZEALAND: Refining company seeking NZ$500 million upgrade to meet rising fuels demand

(EnergyAsia, May 26 2011, Thursday) — New Zealand Refining Company (NZRC) is seeking board approval to invest NZ$500 million in upgrades to meet the country’s rising jet fuel and diesel demand, said chief executive Ken Rivers. (US$1=NZ$1.25). Having expanded its Marsden Point plant by 15% to 135,000 b/d last year, the company is eyeing another...

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MARKET: Global spot, short-term LNG trades up 40% in 2010

(EnergyAsia, May 26 2011, Thursday) — Thanks to rising prices and demand, and concerns with Middle East oil supply, global spot and short-term trades in liquefied natural gas (LNG) surged 40% to 727 cargoes in 2010 from a year earlier, according to the global association of LNG buyers GIIGNL. South Korea and Japan led the...

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MALAYSIA: Doubts abound over proposed $20 billion refinery-petrochemical complex in Johor state

(EnergyAsia, May 26 2011, Thursday) — The Malaysian government has announced plans to build a US$20 billion integrated refinery and petrochemicals complex in Johor state located just north of Singapore by 2016. In announcing the ambitious project early this month, Prime Minister Najib Razak said state-owned oil and gas firm Petronas will lead an international...

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