(EnergyAsia, June 8 2011, Wednesday) — Singapore Oxygen Air Liquide Pte Ltd (SOXAL), a wholly-owned subsidiary of industrial gases supplier Air Liquide, inaugurated its S$500 million infrastructure on Singapore’s Jurong Island on Monday. (US$1=S$1.25). The company’s new facilities include a 1,200-tonne-per-day air separation unit (ASU) to produce air gases, oxygen, nitrogen and argon, boosting SOXAL’s (more…)
(EnergyAsia, June 7 2011, Tuesday) — China is importing lower-grade coal from Australia and South Africa in response to rising prices on the domestic markets, said trade participants. Chinese buyers are expected to import up to two million tons in Australian low-grade coal in the summer months. The bulk of the imports are expected to...
(EnergyAsia, June 7 2011, Tuesday) — The Australian Coal Association has set aside A$5 million for a nationwide campaign to advertise its opposition to the government’s proposed carbon tax. (US$1=A$0.93). The association has started to tap the television, radio, print and online media to present its case against the tax for destroying jobs, raising business...
(EnergyAsia, June 7 2011, Tuesday) — Australia may face power shortages in five years if the government succeeds in implementing its proposed carbon tax policy and deters investments in the power sector, electricity supplier TRUenergy Holdings Pty has warned. The industry may not be able to attract investments after the first three years if the...
(EnergyAsia, June 7 2011, Tuesday) — The damage wrought by the March 11 earthquake in Japan is inflicting damage that is larger and longer lasting than initially thought by most analysts and business people. The Bank of Japan has sharply downgraded its forecast for the country’s economic growth for fiscal 2011 by a full percentage...
(EnergyAsia, June 7 2011, Tuesday) — Two of the world’s top three thermal coal exporters will be Indonesian companies by 2015, said energy consultant Wood Mackenzie’s lead analyst for Southeast and Northeast Asia, Rudi Vann. Their production and new domestic investments will enable Indonesia to account for the largest share of thermal coal growth for...
(EnergyAsia, June 7 2011, Tuesday) — Thailand’s largest coal miner, Banpu, is looking to increase the annual production capacity of its Australian unit Centennial Coal to 19.6 million tonnes from around 16 million tonnes now, said chief financial officer Somruedee Chaimongkol. Banpu will invest A$589 million between 2011 and 2015 to develop four new mines...
(EnergyAsia, June 7 2011, Tuesday) — Malaysia’s state oil and gas firm Petronas said it has agreed to pay a total of C$1.07 billion for a 50% stake in three shale gas assets in northeastern British Columbia province in Canada. (US$1=C$0.98). Wholly-owned subsidiary Petronas International Corporation Ltd (PICL) will acquire the stake from Canada’s Progress Energy (more…)
(EnergyAsia, June 6 2011, Monday) — PetroVietnam Technical Services Corporation (PTSC) has selected US engineering firm Black & Veatch to provide project management and design services for the coal-fired Long Phu 1 power plant. Comprising two 600MW units, the plant is scheduled for completion in 2014. It is the first of three planned power plants (more…)
(EnergyAsia, June 6 2011, Monday) — Douglas-Westwood, a leading UK-based energy business advisor, said it recently opened its Singapore office to manage the group’s advisory and research business across the Asia Pacific region. It has appointed Jason Waldie, who previously worked as group head of business development with an energy advisory firm in Singapore, and (more…)
(EnergyAsia, June 9 2011, Monday) — Shell Marine Products, a unit of the Anglo-Dutch major, said it has begun supplying marine fuels at Jebel Ali Port in Dubai, UAE. The launch of bunker operations at Jebel Ali, the largest container port in the Middle East, further reinforces the company’s growth strategy by extending its network...
(EnergyAsia, June 6 2011, Monday) — Singapore -listed Mirach Energy Limited said its revenue rose 721% to more than US$1.8 million for the first quarter of this year, boosted by the start-up of its coal mining operations and improved performance of its enhanced oil recovery (EOR) oilfield services. Its net loss attributable to shareholders was...
(EnergyAsia, June 6 2011, Monday) — Desperation appears to be creeping in among consumer nations as oil prices hold stubbornly around US$100 a barrel, barely acknowledging the bearish impact of recession and killing off hopes for even a fragile global economic recovery. If NATO’s invasion of Libya was motivated by its light, low-sulphur oil, the...
(EnergyAsia, June 6 2011, Monday) — Australia-listed Adavale Resources Limited said it has signed a joint venture agreement to explore and mine for coal in Indonesia with local businessman Haryono Eddyarto who has over 34 years’ experience in the industry. In its statement to the Australian Securities Exchange (ASX), Adavale said it will hold a...
(EnergyAsia, June 6 2011, Monday) — Australia’s Queensland state has invited companies to bid for the right to develop another four coal terminals with a combined capacity of 120 million tonnes a year at Abbot Point. The terminals could cost as much as A$6.2 billion, further boosting Queensland’s position as one of the world’s largest...
(EnergyAsia, June 3 2011, Friday) — Australia’s oil production fell to their lowest quarterly level in more than 20 years for the January-March 2011 period on account of cyclones, floods, maintenance and field redevelopment work, according to energy economics group EnergyQuest. In a report, EnergyQuest said Australian oil production fell to 20.9 million barrels in...
(EnergyAsia, June 3 2011, Friday) — Japan will focus on developing and increasing the use of renewable energy while stepping up energy conservation efforts as it abandons long-term plans to derive half of its electricity from nuclear power, said Prime Minister Naoto Kan. The major shift in thinking was triggered by the Fukushima Dai-ichi nuclear...
(EnergyAsia, June 3 2011, Friday) — Three of Japan’s main oil companies said they have suffered extraordinary losses for the fiscal year ending March 31 as a result of the massive damages to their refineries and other facilities in the devastating March 11 earthquake. JX Holdings Inc, Idemitsu Kosan Co and Cosmo Oil Co were...
(EnergyAsia, June 3 2011, Friday) — High fuel costs pose a key challenge for Singapore’s shipping and aviation industries, based on the financial performance of major players Singapore Airlines (SIA) and NOL Group. Owing to rising fuel prices, SIA’s operating income has been flat even as its bottomline rose in the last fiscal year to...
(EnergyAsia, June 3 2011, Friday) — Australia-listed Hunnu Coal said its subsidiary, Hunnu Investments Pte Ltd, has acquired a 70% interest in the Rio Tinto Minerals Altai Nuurs Coal joint venture (JV) project located in south-western Mongolia for A$40million. (US$1=A$1.05). Located in the Gobi Altai province, the Altai Nuurs project consists of six exploration licences...
(EnergyAsia, June 3 2011, Friday) — Hong Kong-listed Kiu Hung Energy Holdings Limited said its shareholders have appointed Jin Peihuang as an independent non-executive director at the company’s annual general meeting last month. A 1964 graduate of Jiangxi Mining Institute, Mr Jin is an expert in underground mining of coal and was a professor-grade senior (more…)
(EnergyAsia, June 2 2011, Thursday) — Liquefied natural gas (LNG) prices are set to rise from this year, with Japan kickstarting the trend as it requires additional fuel to avert power shortages following the devastating earthquake and tsunami of March 11. Japan’s emergency requirements for 10 million tonnes of LNG this year will translate into...
(EnergyAsia, June 2 2011, Thursday) — Australian energy firm Altona Energy Plc said it has signed a memorandum of understanding with Hong Kong- based private investment group Tongjiang International Energy Co Ltd to develop a strategic partnership in China to identify and evaluate coal and biomass gasification projects for the production of clean energy and...
(EnergyAsia, June 2 2011, Thursday) — Two oil traders working for companies controlled by Norwegian billionaire John Fredriksen are among the first to be charged by the US government which had warned that it would be cracking down on fraud and manipulation in the oil markets. Last month, the US Commodity Futures Trading Commission (CFTC)...
(EnergyAsia, June 2 2011, Thursday) — China’s apparent oil demand in April reached 38.36 million metric ton (mt) or an average of 9.37 million b/d, marking an 8.3% increase from April 2010 due to increased demand during the spring sowing season, said energy media Platts. In its analysis based on recent figures published by the...