(EnergyAsia, July 12 2011, Tuesday) — The Australian government said its “Strong Growth, Low Pollution” research has found that the economy will continue to grow strongly at the same time as it reduces carbon pollution by targeting the country’s worst polluters. The report modelled the impact on the economy by putting a price on carbon (more…)
(EnergyAsia, July 12 2011, Tuesday) — Australia’s new carbon policy will reduce the competitiveness of the country’s natural gas exporters against liquefied natural gas (LNG) producers in Qatar, Malaysia, and Indonesia, said the Australian Petroleum Production & Exploration Association (APPEA). On Sunday, the government unveiled its much awaited carbon policy to take effect from next (more…)
(EnergyAsia, July 11 2011, Monday) — Maersk Drilling, a subsidiary of Denmark’s A.P. Moller-Maersk group, said it is exercising an option to build two new ultra deepwater drillships at Samsung Heavy Industries in South Korea for delivery in the second and third quarters of 2014 respectively. The US$1.3 billion project includes a turnkey contract with (more…)
(EnergyAsia, July 11 2011, Monday) — Predictably, the Australian Coal Association (ACA) has slammed the government’s proposed carbon pricing scheme as a tax that will hurt the economy, cost jobs, and reduce the competitiveness of the coal industry and giving an advantage to miners in other countries. Ralph Hillman, the association’s executive director, said the (more…)
(EnergyAsia, July 11 2011, Monday) — The Australian government said its new carbon tax to start from next July will reduce carbon pollution by 159 million tonnes a year through 2020, the equivalent of taking over 45 million cars off the road. The tax will be imposed on 500 of the country’s biggest polluters under (more…)
(EnergyAsia, July 11 2011, Monday) — Vietnam’s Ministry of Finance is looking to raise the tax on coal exports from 15% now to 20% in a desperate attempt to keep the commodity for domestic consumption and slow down the depletion of the country’s ageing mines. Vietnam is fighting a losing battle to ensure sufficient supply...
(EnergyAsia, July 11 2011, Monday) — US coal miner Peabody Energy said it has been selected to be part of an international consortium to develop and mine Mongolia’s Tavan Tolgoi coking coal reserve, one of the world’s largest. Peabody said it is now working to reach agreement on definitive terms and conditions for consideration and...
(EnergyAsia, Julu 11 2011, Monday) — Australia’s Hunnu Coal has doubled its official estimate of thermal coal reserves at its Unst Khudag mine in Mongolia to 676 million tonnes at 150-metre depth. The company said the Joint Ore Reserves Committee (JORC)-recognised estimate could be further upgraded in the second half of 2011 with additional drilling...
(EnergyAsia, July 11 2011, Monday) — Global investments in liquefied natural gas (LNG) projects will exceed US$93 billion over the five-year period to 2015, said energy consultant Douglas-Westwood. The World LNG Market Report 2011-2015 predicts the Pacific basin will be the main contributor to a ten-year global investment high of US$26 billion per year by...
(EnergyAsia, July 8 2011, Friday) –- Japan is waking up to the grim long-term reality of power shortages and rising energy costs as a consequence of the March 11 earthquake and tsunami that has led to two-thirds of its nuclear power capacity being permanently shut down or idled for inspection. With the Tokyo and Tohoku...
(EnergyAsia, July 8 2011, Friday) — Energy consultant Douglas-Westwood (DW) said global investment in the booming liquefied natural gas (LNG) industry, driven by demand in Asia, will reach a 10-year peak of US$26 billion a year by 2015. In a special report, the firm also predicted that global LNG investments will total US$93 billion for...
(EnergyAsia, July 8 2011, Friday) —- SouthGobi Resources Ltd said its wholly-owned subsidiary has been issued a licence by the Mineral Resource Authority of Mongolia (MRAM) to mine the deposit at its Soumber Deposit in Mongolia. SouthGobi Sands LLC has received licence number MV-016869 to develop and mine the resource at Soumber, located 20 km...
(EnergyAsia, July 8 2011, Friday) — Australia’s export earnings from energy and mineral commodities in the March-June quarter of 2011 fell by 10% to A$40.3 billion from the previous quarter, said state agency Australian Bureau of Agricultural and Resource Economics (ABARES). The following commodities recorded declines in their export earnings: metallurgical coal down 29% to...
(EnergyAsia, July 8 2011, Friday) — Australia’s MetroCoal Limited has raised the official estimate of its thermal coal reserves by 15.8% to 1.46 billion tonnes following updates at its Columboola joint-venture and Bundi locations in the Surat Basin in Queensland state. The ASX-listed miner and its partner, China’s SinoCoal Resources Pty Ltd, have ascertained that Columboola...
(EnergyAsia, July 8 2011, Friday) — The 2011 edition of this map, measuring 120 cm by 90 cm, shows the latest oil, gas, petrochemical, chemical and power and marine installations and plants in Singapore and Johor. First produced in 1999, this unique map contains latest statistical information including oil and power consumption, refining capacities, power (more…)
(EnergyAsia, July 7 2011, Thursday) — Central Petroleum Limited and Allied Resource Partners Pty Ltd (ARP) said they have agreed to jointly develop a clean fuel production project that will draw on a recently discovered “very large” coal field in central Australia. The Pedirka Basin in the arid Simpson Desert in south east Northern Territory (more…)
(EnergyAsia, July 7 2011, Thursday) — Chevron Neftegaz Inc, an affiliate of Chevron Corporation, said it and members of a consortium have officially begun construction of a US$5.4 billion expansion of the Caspian pipeline to deliver crude oil from western Kazakhstan to a dedicated terminal in the Black Sea. When completed in 2015, the pipeline (more…)
(EnergyAsia, July 7 2011, Thursday) — State-owned Electricity of Vietnam (EVN) has been criticised for contributing to the country’s worsening electricity shortfall and hurting its fragile economic outlook. Controlling more than 70% of Vietnam’s electricity market, EVN has a key role in planning for the country’s long-term supply-demand balances for power and feedstock. It also...
(EnergyAsia, July 7 2011, Thursday) — Japan’s coal imports are expected to continue their recovery into 2012 after the initial pull-back in the wake of the March 11 tsunami-earthquake disaster which took down a significant part of the country’s coal-fired and nuclear power generating capacity, said the Australian Bureau of Agricultural and Resource Economics and...
(EnergyAsia, July 7 2011, Thursday) — NYSE-listed Peabody Energy said it has agreed to pay A$35 million for Thiess Investments Pty Ltd’s 5% joint-venture interest in the Burton Mine in Australia’s Queensland state. (US$1=A$0.94). Peabody said the transaction, expected to complete this quarter, will give it full ownership of the hard coking coal operation and...
(EnergyAsia, July 6 2011, Wednesday) — Five years after starting up the controversial Three Gorges dam, the Chinese government has finally acknowledged that the massive 18,200MW hydroelectric project may be the source of social and environmental problems as much as it has helped reduce flooding in some areas and provide electricity to large parts of...
(EnergyAsia, July 6 2011, Wednesday) — Controversial Australian businessman Clive Palmer is stepping up his pursuit of Chinese support to finance his massive Queensland coal project after his fourth failed attempt at listing his Resourcehouse company in Hong Kong to raise nearly HK$7.3 billion. Mr Palmer, who has accused his government of racist behaviour in...
(EnergyAsia, July 6 2011, Wednesday) — Mongolia has exported its first coal cargo to Russia’s Buryatia province, said Canada’s Prophecy Coal Corp which handled the rail delivery of 650 tonnes of thermal coal from its Ulaan Ovoo mine. The coal was exported from the Sukhbartaar rail station in Mongolia to Energy LLC, a company registered...
(EnergyAsia, July 6 2011, Wednesday) — Oiltanking Odfjell Terminals & Co LLC is expanding its oil and chemical storage investments in Oman to serve the fast-growing markets in the Middle East. Last week, the company announced that it has started up 15 new tanks to store 450,000 cubic meters (cbm) of gasoline and middle distillate...
(EnergyAsia, July 6 2011, Wednesday) — Australia’s Arrow Energy said it has begun operating the 450MW Braemar 2 power station in Queensland state, following its acquisition last week of the remaining 25% stake to underline its commitment to provide gas to the domestic market. Commissioned in 2009, the A$550 million Braemar 2 plant is fuelled (more…)