AUSTRALIA: Coal association says carbon tax will cost mining jobs without cutting down emissions

(EnergyAsia, September 12 2011, Monday) — The Australian Coal Association (ACA) has issued a statement questioning the findings of the Grattan Institute report on the impact of the government’s proposed carbon tax on the coal, liquefied natural gas and steel industries. ACA executive director, Ralph Hillman, said the Grattan Institute report was not based on...

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SINGAPORE: Zeon Corp may add S$1-billion complex to S$240-million synthetic rubber plant on Jurong Island

(EnergyAsia, September 12 2011, Monday) — Japan’s Zeon Corporation is looking to add a S$1 billion project in Singapore after breaking ground on its S$240 million synthetic rubber plant on Jurong Island early this month. (US$1=S$1.22). Naozumi Furukawa, Zeon’s President and CEO, said it is weighing a decision by next March on whether to build (more…)

VIETNAM: Hyundai E&C secures contract to build coal-fired power plant

(EnergyAsia, September 9 2011, Friday) — South Korea’s Hyundai Engineering and Construction said it has landed a 1.6-trillion-won contract to build a 1,000MW power plant in Vietnam. (US$1=1,070 won). The company expects to shortly begin construction of the 1,000 MW coal-fired plant in Mong Duong in Quang Ninh province, 250 km northeast of the capital...

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INDIA: Power sector worried by rising coal shortages and cost

(EnergyAsia, September 9 2011, Friday) — The rising cost and supply shortages of coal is threatening India’s ambitious goal of adding 100GW of power capacity during its next 5th year plan to 2017. In turn, these trends will jeopardise the reliability of India’s electricity supply and undermine its economic prospects under its 12th development plan,...

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CHINA: China Power to invest in coal-power plant, port, aluminum refinery and mining in Guinea

(EnergyAsia, September 9 2011, Friday) — China Power Investment Corp, one of the country’s five-largest power companies, is planning to build a coal-fired power plant, a deepwater port and an aluminum refinery in one of Africa’s most backward countries in exchange for the right to develop a large bauxite mine costing nearly US$6 billion. Located...

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AUSTRALIA: QR National, coal consortium to invest A$900 million in Wiggins Island rail project

(EnergyAsia, September 9 2011, Friday) — Australia’s QR National said it and a consortium of coal mining companies have agreed to construct an A$900 million rail link that will expand the coal carrying capacity from the southern Bowen Basin region to a new export terminal at Gladstone in Queensland state by 30%. (US$1=A$0.95). QR National...

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ASIA: Platts and Argus prices used to settle CME coking coal futures

(EnergyAsia, September 9 2011, Friday) — The Chicago Mercantile Exchange has begun listing two coking coal futures contract settled against prices published by two mainstream energy media, McGraw-Hill’s Platts and UK’s Argus. Argus prices will be use for the Australian coking coal (Argus) low volume swap futures contract which began trading on the floor of...

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TAIWAN: CTCI, Japan’s MHI to build three coal-fired power plants for Taiwan Power Company

(EnergyAsia, September 9 2011, Friday) — Japan’s Mitsubishi Heavy Industries Ltd (MHI) said it and CTCI Corporation, Taiwan’s largest engineering, procurement and construction (EPC) firm, have received a full-turnkey order from Taiwan Power Company (Taipower) to jointly construct three 800MW coal-fired supercritical-pressure power generation units. The project’s value was not disclosed. The three units will (more…)

CHINA: Leading coal producer Shenhua reports 16% rise in first-half profit to 21.9 billion yuan

(EnergyAsia, September 8 2011, Thursday) — China Shenhua Energy Co Ltd, the country’s largest coal producer, said its first-half net profit rose 16.1% to 21.9 billion yuan while revenue jumped 40.5% over the same period last year. (US$1=6.45). In a filing with the Hong Kong Stock Exchange, the company said the half-year revenue exceeded 100...

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CHINA: Puda Coal says audit committee confirms alleged illegal transactions by chairman

(EnergyAsia, September 8 2011, Thursday) — China’s Puda Coal said its internal investigations have found that chairman Ming Zhao may have illegally transferred ownership of two of its subsidiaries to himself and a state-owned company without the approval of shareholders. The company launched the investigations following an April 8 article by a short-selling trader that...

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CHINA: Nigeria becomes first African country to include yuan in foreign exchange reserves

(EnergyAsia, September 8 2011, Thursday) — Nigeria has become the first African country and possibly the first major oil producer to include the Chinese yuan in its foreign exchange reserves. In an unexpected and significant move, Central Bank governor Lamido Sanusi said the yuan would eventually account for between five and 10% of Nigeria’s reserves,...

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INDIA: Somani Group, Russia’s Mechel form joint venture to distribute met coal

(EnergyAsia, September 8 2011, Thursday) — Mechel OAO, a leading Russian mining and metals company, said it has jointly established Mechel Somani Carbon Private Limited with the Somani Group to distribute metallurgical coals in India. Mechel Carbon AG, a subsidiary of Mechel OAO’s mining division Mechel Mining OAO, owns a 51% stake in the new (more…)

MONGOLIA: Prophecy Coal Corp secures coal sales agreements with Mongolian and Russian buyers for 2011

(EnergyAsia, September 8 2011, Thursday) — Canada’s Prophecy Coal Corp said it secured coal sales agreements with Mongolian and Russian buyers totalling 92,000 tonnes for 2011. The Vancouver, British Columbia company said it has sold 22,000 tonnes of coal to Energy LLC, a company registered in Russia’s Buryatia Republic, for use as a trial feedstock (more…)

MONGOLIA: Envidity help launched US$1 billion coal gasification project

(EnergyAsia, September 7 2011, Wednesday) — US-based Envidity Inc said it has committed to helping launch a US$1 billion project to turn underground coal to gas and liquids in Mongolia. Envidity said the project could produce 1,000 b/d of synthetic diesel to satisfy 10% of local demand within 24 months, and 15,000 b/d within 60...

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GHANA: ExxonMobil prevented from acquiring Kosmos Energy and stake in Jubilee oilfield, says Wikileaks

(EnergyAsia, September 7 2011, Wednesday) — Senior Ghanaian government officials close to President John Atta Mills prevented ExxonMobil from buying over the shares of US independent Kosmos Energy which has a 23.49% stake in one of Africa’s largest new oil fields, according to a Wikileaks report citing US diplomatic sources. US diplomats reportedly said that...

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COMPANY: Standard Chartered acquires mining and metals corporate advisory firm Gryphon Partners

(EnergyAsia, September 7 2011, Wednesday) — Banking giant Standard Chartered said it has acquired Gryphon Partners Advisory Pty Ltd and Gryphon Partners Canada Inc from its management principals to “significantly strengthen its mining and metals capability.” Gryphon Partners is a corporate advisory firm focused on the mining and metals sector, with professionals based in Australia (more…)

AUSTRALIA: Origin Energy says no certainty over GHG intensity of coal-fired versus gas-fired power generation

(EnergyAsia, September 7 2011, Wednesday) — A leading Australian energy company, Origin Energy, said there is no certainty over whether coal or gas-fired power generation produces more greenhouse gas (GHG) emissions. In a statement, it said: “Evidence to assess the more specific question of how the lifecycle emissions of a baseload gas-fired plant fuelled by (more…)

AUSTRALIA: Coal Association appoints Nikki Williams as CEO

(EnergyAsia, September 7 2011, Wednesday) — The Australian Coal Association has named Nikki Williams its new CEO, replacing executive director Ralph Hillman who retired at the end of last month. The association’s chairman, John Pegler, said Dr Williams, currently the New South Wales Minerals Council CEO, will take over the position in November. With more (more…)

ASIA: CME launched Argus coking coal swap futures

(EnergyAsia, September 6 2011, Tuesday) — US-based global exchange CME Group has listed an Australian coking coal swap futures contract for trading on the Nymex floor and for clearing through CME Clearport from August 29. The new contract is settled against the fob Australia assessment in the Argus Coal Daily International market report. The launch...

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CHINA: CNPC expects to start up oil refinery in Niger later in the year

(EnergyAsia, September 6 2011, Tuesday) — China National Petroleum Corp (CNPC) said it expects to start up landlocked Niger’s first oil refinery later in the year. The state-owned company and Energy Ministry of the West African country are jointly building the one-million-metric ton-a-year refinery in Zinder town as part of a US$5 billion energy and...

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INDIA: BP and Reliance start strategic alliance

(EnergyAsia, September 6 2011, Tuesday) — BP has completed its acquisition of a 30% stake in 21 oil and gas production sharing contracts (PSCs) that Reliance Industries Limited (RIL) operates in India, including the producing KG D6 block, to launch their strategic alliance, the two companies have jointly announced. BP will pay RIL, a private...

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MALAYSIA: Petronas aims to double production at Mauritanian oil field

(EnergyAsia, September 6 2011, Tuesday) — Malaysian state oil and gas firm Petronas is targeting to double production at its 47.4%-owned Chinguetti oil field off the coast of Mauritania to 8,000 b/d by end-2011. Located in deepwater Block 4 of PSC B about 170 km from the capital, Nouakchott, the Chinguetti field was discovered in...

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CHINA: Air Liquide division to build plant for Shenhua Ningxia Coal

(EnergyAsia, September 6 2011, Tuesday) — France’s Air Liquide said its Engineering & Construction division has signed a contract with the Shenhua Ningxia Coal Industry Group (SNCG) in China, one of the world’s largest coal companies, to build a 500,000 tonne/year methanol-to-propylene (MTP) plant. To be located in Ningdong in Ningxia province, the plant will (more…)

NIGERIA: Currency devaluation a possibility on weak oil price, rising merchandise imports

(EnergyAsia, September 5 2011, Monday) — The Nigerian government may have to consider devaluing the currency, the naira, if oil prices remain weak and it increases import of equipment and parts to develop the country’s road and rail infrastructure, according to Renaissance Capital. Ina research report, the investment firm said the central bank of Africa’s...

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GHANA: Tullow-led consortium aiming to double oil production by 2015

(EnergyAsia, September 5 2011, Monday) — UK’s Tullow Oil said it and its partners may invest more than US$4 billion in offshore exploration to double production in Ghana which became Africa’s latest oil producing country last December. Tullow, the operator of the producing Jubilee field, said the consortium, which includes two US companies, Anadarko Petroleum...

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