|(EnergyAsia, June 17 2011, Friday) — The Philippines’ leading oil refiner, Petron Corp, may have to spend at least 21 million peso over the next few years as part of its plan to relocate its fuel storage facilities from Pandacan district near residential areas to another area in metropolitan Manila, said chairman Ramon S. Ang....
(EnergyAsia, June 17 2011, Friday) — US major Chevron has applied to raise production at its A$43 billion Gorgon liquefied natural gas (LNG) project in Western Australia by 5 million tonnes a year to 20 million tonnes. The company has told the Australian government that the expanded LNG output will help ease global reliance on...
(EnergyAsia, June 17 2011, Friday) — Oman Oil Refineries and Petrochemical Industries is investing US$1.5 billion to expand and upgrade its flagship 116,400 b/d refinery in Sohar to 187,774 b/d by end-2015. The company will build new units including 71,500 b/d for crude distillation unit, 96,800 b/d for vacuum distillation, 66,400 b/d hydrocracking, 42,400 b/d...
(EnergyAsia, June 17 2011, Friday) — Meeting last week in Azerbaijan, senior officials of 10 Central Asian countries have agreed on a strategic framework to develop transport networks, boost regional trade, and help secure reliable, efficient energy over the next decade. The Central Asia Regional Economic Cooperation (CAREC) Program, which was established in 2001, has (more…)
(EnergyAsia, June 16 2011, Thursday) — Tognum Group Brand MTU recently showcased its new generation of MTU Series 2000 and 4000 engines in Asia for use in the oil and gas industry. The Series 4000 engine on display at the Oil and Gas Asia in Kuala Lumpur, Malaysia complies with US EPA Tier 4 interim, (more…)
(EnergyAsia, June 16 2011, Thursday) — Despite an expected second-half recovery, the Japanese economy will shrink by 0.7% this year as a result of the devastating earthquake-tsunami-nuclear tragedy of March 11, said the International Monetary Fund (IMF). The recovery will be sharper next year as reconstruction lifts the economy by 2.9%, still some way off...
(EnergyAsia, June 16 2011, Thursday) — South Korea’s JCon Corp, UBEC Inc and Daechang HRSG Corp, engineering subcontractors for refiner and oil trader SK Energy, have secured a contract to carry out regular maintenance at Vietnam’s Dung Quat refinery. The project, the first large-scale overseas maintenance project by a mid-sized Korean firm, could create US$150...
(EnergyAsia, June 16 2011, Thursday) — Vietnam National Coal and Mineral Industries Group (Vinacomin) said it is making progress on building a large port to handle coal shipments. The state trading firm is looking for a location to develop the port and a terminal to store, handle and transport imported coal to power plants in...
(EnergyAsia, June 16 2011, Thursday) — Indonesia’s efforts to boost oil and gas production may be at risk, with 23 exploration and production projects running behind schedule, said state regulator BPMigas. The agency has attributed the delays to investor uncertainty, plan revisions, expenditure approvals and late tender processes. Production at the Jambi Merang gas field...
(EnergyAsia, June 16 2011, Thursday) — Transport fuel and chemical feedstock will account for a higher share of China’s total oil demand in the next decade, according to the state Energy Research Institute. The institute, a unit within the powerful policy making unit, the National Development and Reform Commission (NDRC), said that demand for transport...
(EnergyAsia, June 15 2011, Wednesday) — The Australian government’s proposed strategy to lower greenhouse gas emissions through a new carbon tax could lead to reduced investments and jobs, according to leading mining industry players. The government is struggling to gain support for its carbon price scheme, which seeks to promote cleaner energy development by taxing...
(EnergyAsia, June 15 2011, Wednesday) — The Chinese government said its efforts to improve coal mining safety is yielding results, with related deaths down sharply in the first four months of the year. The number of deaths from coal mining accidents and incidents were down 39% on year in January-April period, continuing a trend of...
(EnergyAsia, June 15 2011, Wednesday) — In an attempt to pressure mining companies to speed up operations, the Indian government has cancelled the allocation of 14 coal blocks and one lignite block, said Coal Minister Sriprakash Jaiswal. State NTPC Ltd suffered the embarrassment of losing allocations to five coal blocks, leaving them with just three...
(EnergyAsia, June 15 2011, Wednesday) — Malakoff Corp Bhd, a Malaysian infrastructure firm, said its fully-owned subsidiary Transpool Sdn Bhd has won a tender to design, construct, operate and maintain a 1,000mw coal-fired power plant in Tanjung Bin in the southern Malaysian state of Johor. Malakoff, a 51%-owned subsidiary of diversified Malaysian group MMC Corporation Berhad,...
(EnergyAsia, June 15 2011, Wednesday) — The Australian government’s proposed move to implement a nationwide carbon tax scheme will put thousands of jobs at risk, force the closure of coal mines, and drive away billions of dollars in new mining investments to other countries, said an industry lobby. The Australian Coal Association (ACA) issued these...
(EnergyAsia, June 15 2011, Wednesday) — ExxonMobil said it recently made “one of the largest oil discoveries” of the last decade in its first drilling in the Gulf of Mexico since the US government lifted a deepwater exploration ban last October. Steve Greenlee, president of ExxonMobil Exploration Company, said: “We estimate a recoverable resource of (more…)
(EnergyAsia, June 14 2011, Tuesday) — Heavyweights Anglo American and Xstrata have joined other mining groups in warning that the Australian government’s plan to introduce a price on carbon emissions could slow down inflow of new investments. Anglo American said it could be forced to rethink its planned A$4 billion investments in the Australian coal...
(EnergyAsia, June 14 2011, Tuesday) — Australia expects to generate A$11.5 billion in the first year of implementation of a controversial carbon tax, said the government’s top climate adviser Ross Garnaut, who is proposing to start the tax at A$20-A$30 a tonne. (US$1=A$0.93). Based on Dr Garnaut’s proposal, the carbon tax will rise 4% a...
(EnergyAsia, June 14 2011, Tuesday) — Thanks to Asia’s boom, Australia’s Treasury chief Martin Parkinson has painted a rosy long-term outlook for his country’s economy, with enhanced mining and energy capacities and high export prices leading the way. The Treasury expects Australia to attract around A$380 billion of new investments into its already massive mining...
(EnergyAsia, June 14 2011, Tuesday) — Coal imports into China and India are expected to continue rising rapidly through at least 2015 on account of their growing demand for electricity, industry players say. China’s thermal coal imports are projected to more than double to 200 million tonnes in 2015 from around 90 million tonnes this...
(EnergyAsia, June 14 2011, Tuesday) — Indian conglomerate Adani Group is exploring the possibility of investing in another two new coal terminals in Australia’s Queensland state to capitalise on rising coal trade in the region. It will look to build the terminals next to Abbott Point which it acquired for A$1.83 billion from the Queensland...
(EnergyAsia, June 14 2011, Tuesday) — US engineering giant Bechtel Corp said it has secured a contract worth US$12 to $14 billion from the Mongolian government to develop a master plan for a new heavy industrial complex that includes an oil refinery, a coal gasification power plant, and mineral processing plants. Bechtel said it was selected (more…)
(EnergyAsia, June 14 2011, Tuesday) — Two Singapore-based oil and gas companies, Keppel Offshore & Marine, and Singapore Petroleum Company (SPC), announced senior management changes last week. Keppel Offshore & Marine Ltd, which provides exploration and production services, said it has appointed Chow Yew Yuen as its managing director from June 1 2011, reporting directly to (more…)
(EnergyAsia, June 13 2011, Monday) — Wartsila, the Finland-based marine industry solutions provider, said it has signed a contract with Nam Cheong Dockyard of Miri City in Malaysia to build a Wartsila Ship Design (WSD) multi-purpose platform supply vessel (MPSV) for use in the offshore oil and gas industry. The WSD 800 MPSV vessel is (more…)
(EnergyAsia, June 13 2011, Monday) — Russia’s Gazprom Global LNG (GGLNG) said its Singapore affiliate, Gazprom Marketing and Trading Singapore (GM&TS), has signed separate memoranda of understanding (MOU) for the long-term supply of liquefied natural gas (LNG) to three Indian state-owned companies, GAIL India Limited, Gujarat State Petroleum Company (GSPC) and Petronet LNG Limited. GM&TS, (more…)