(EnergyAsia, May 16 2011, Monday) — Buoyed by growing bilateral ties between the two countries, Indian companies are investing heavily in Indonesia’s coal industry. In January, the two governments pledged to double bilateral trade to US$25 billion by 2015 as they began talks on boosting trade and investments. Coal India, the country’s biggest miner, could...
(EnergyAsia, May 13 2011, Friday) — Australia’s QR National said it will invest A$185 million to expand its Goonyella coal rail network to support a major expansion of the Hay Point coal terminal near Mackay town in Queensland state. The project includes an electricity feeder station as well as track duplication. QR National said the...
(EnergyAsia, May 13 2011, Friday) — China’s National Energy Administration (NEA) has sharply raised its forecast for the country’s electricity demand growth for 2011 to 12% from 9%. With the economy expected to grow by 9% for the year, the NEA said Chinese electricity consumption will rise to 4.69 trillion kilowatt hours. In its previous...
(EnergyAsia, May 13 2011, Friday) — Even China’s growth machine is feeling the sting of rising energy prices. The world’s second-largest economy said its April electricity output fell by 4.3% from March as surging coal prices led to a cutback in power production. Still, April’s power output of 366.4 billion kilowatt-hours was up 12% from...
(EnergyAsia, May 13 2011, Friday) — The global energy boom will continue after a brief slowdown as a result of the March 11 earthquake, tsunami and nuclear disaster in Japan, said analysts. Any decision by China, India, South Korea and Russia to abandon or even delay down their programme to develop nuclear power for energy...
(EnergyAsia, May 13 2011, Friday) — Indian companies are investing heavily in Indonesia’s coal industry Coal India, the country’s biggest miner, could invest as much as US$3 billion to develop a coking coal mine, steel plant and a seaport on Kalimantan Island, said Indonesian officials. Privately-owned GMR Energy, which acquired the PT Barasentosa Lestari (PTBSL)...
(EnergyAsia, May 13 2011, Friday) — Arch Coal Inc, one of the biggest coal producers in the US, said it has established a new subsidiary, Arch Coal Asia-Pacific Pte Ltd, with Renato Paladino as president of the Singapore-based operations. Mr Paladino, who will be responsible for Asia-Pacific regional business development, marketing and sales of thermal (more…)
(EnergyAsia, May 13 2011, Friday) — The economies of the Caucasus and Central Asia (CCA) are expected to grow by less than six percent in 2011, down slightly from 6.5% in 2010, the International Monetary Fund (IMF) said in its latest economic outlook for the region. The CCA region includes Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyz Republic, (more…)
(EnergyAsia, May 12 2011, Thursday) — Synthesis Energy Systems Inc (SES), a Nasdaq-listed global energy and gasification technology company serving the energy and chemicals industries, said it has secured an agreement for a US$83.8 million cash investment from China Energy Industry Holding Group Co Limited (China Energy). SES said the investment will be used to (more…)
(EnergyAsia, May 12 2011, Thursday) — Australia’s Environmental Clean Technologies Limited said it has secured a joint venture agreement (JVA) and a ‘parent company guarantee’ (PCG) from its partner, TinCom of Vietnam, giving practical effect to their previously announced licence agreement. The companies’ joint venture company, Victoria Coldry Pty Ltd, is now licensed to construct...
(EnergyAsia, May 12 2011, Thursday) — China’s lawmakers are seeking an overhaul of the country’s law to expand insurance coverage of workers and staff employed in coal mines. Based on the proposed amendment, the compensation under the work-related injury insurance policy will expand to include expenses on rehabilitation and long-term care, according to Shi Xiushi,...
(EnergyAsia, May 12 2011, Thursday) — Rising international prices may slow down or even reduce China’s coal demand growth in coming months. Consumers are expected to switch to domestically-produced coal, which is cheaper than imports. The trend was already established in the first quarter when Chinese coal imports fell 26.4% on year to 32.4 million...
(EnergyAsia, May 12 2011, Thursday) — US-based Arch Coal said it has agreed to acquire rival International Coal Group for US$14.60 a share in a friendly all-cash deal valued at US$3.4 billion. Both listed on the NYSE, the companies said the enlarged entity will become the nation’s second largest supplier of metallurgical (met) coal for...
(EnergyAsia, May 12 2011, Thursday) — US-based Peabody Energy Corp said strong coal demand in the US and Asia boosted prices and raise its first-quarter profit by almost a third. The St. Louis-based company’s net income increased to US$176.5 million, or US$0.65 a share, from US$133.7 million, or US$0.50 cents, in the same quarter last...
(EnergyAsia, May 12 2011, Thursday) — Another three billion affluent people sounds like a huge economic opportunity and an advancement of the human condition, but it’s a nightmare scenario for any planner worried about the planet’s environmental sustainability and resources supply. The Asian Development Bank (ADB) has released a report predicting that an additional three...
(EnergyAsia, May 11 2011, Wednesday) — India’s Adani Enterprises said it has agreed to acquire the Abbot Point Coal Terminal in Australia for US$2 billion, extending its reach into the coal business in Australia. Subsidiary Mundra Port & Special Economic Zone concluded the deal and plans to invest US$750 million to expand the port in...
(EnergyAsia, May 11 2011, Wednesday) — Australians are displaying an ambivalent attitude towards China’s rapid economic growth, according to a poll conducted by the Lowy Institute for International Policy. Around 75% of Australians polled believe China’s rise has been positive for their country. At the same time, about 44% of the 1,002 people surveyed consider...
(EnergyAsia, May 11 2011, Wednesday) — Australian environmentalists are worried that a proposed project to convert coal seam gas to liquefied natural gas (LNG) for export to China may damage a major source of freshwater in Queensland state. The Great Artesian Basin, a major source of water for farmers and communities in inland Queensland, could...
(EnergyAsia, May 11 2011, Wednesday) — Australia’s Macarthur Coal said its output in the quarter ending March fell 56% after record rainfall caused widespread flooding that damaged its mines in Queensland state between late last year and early this year. The company said sales from its Coppabella and Moorvale mines in the Bowen Basin fell...
(EnergyAsia, May11 2011, Wednesday) — Australia is unlikely to experience a repeat of the massive expansion of its mining industry in 2004 to 2007 which resulted in windfall tax revenues and ushered one of the country’s most prosperous periods in its history. Australian government collected an additional A$334 billion in tax revenues during those three...
(EnergyAsia, May 11 2011, Wednesday) — Coal prices in China are expected to rise in the short term on rising electricity demand, said the Ministry of Commerce. There is the possibility of further price increases if international supply is tight and Chinese demand remains strong. In April, domestic coal prices were already up on strong...
(EnergyAsia, May 11 2011, Wednesday) — Any additional taxes on Australia’s resources sector must be designed so they do not damage its international competitiveness, said an adviser to South Australia state government. Speaking at the Paydirt 2011 South Australian Resources & Energy Investment Conference in Adelaide, Minerals and Petroleum Experts Group chairman, Ian Gould, said (more…)
(EnergyAsia, May 10 2011, Tuesday) — Thermal coal prices are set to rise again with rising demand from Japan and a power shortage in China expected to boost imports from Indonesia and Australia. China’s metal production is being impacted by a cut in power supply fueling the higher imports in the coming months. The country...
(EnergyAsia, May 10 2011, Tuesday) — In a bid to increase profitability and reduce pollution, China has resumed its campaign to shut down small oil refineries with capacity of below two million metric tons per year (t/y) by the end of 2013. The government has identified industries that it wants to set limits on or...
(EnergyAsia, May 10 2011, Tuesday) — Indonesia’s coal production in the first quarter fell below target, with mining activity disrupted by continuous rains. The country’s coal output averaged 29.7 million tons a month in the first three months compared with the target of about 30 million tons, said Bob Kamandanu, chairman of the Indonesian Coal...