AUSTRALIA: House of Representatives passed clean energy package including carbon tax

(EnergyAsia, October 14 2011, Friday) — Australia’s House of Representatives has narrowly approved the government’s clean energy legislative package including the controversial carbon tax to put a price on carbon emissions from next July. Against strong opposition from the powerful coal and mining lobby, the government of Prime Minister Julia Gillard secured the passage for (more…)

PAKISTAN: ADB to help fund new hydro plant to ease nationwide power shortages

(EnergyAsia, October 13 2011, Thursday) — The Asian Development Bank (ADB) said it will provide US$97 million to help fund a new private sector hydroelectricity plant in Pakistan, which will ease power shortages and create thousands of new jobs. The bank said its board recently approved the loan for the 147-megawatt (MW) run-of-the-river Patrind hydropower (more…)

CHINA: Sino-Russian security and energy relations are “crumbling”, says Finland-based think tank

(EnergyAsia, October 13 2011, Thursday) — As a result of its rising global influence, China is gaining the upper hand over Russia and changing the nature of their strategic partnership, said Finland’s Stockholm International Peace Research Institute (SIPRI). In a new report, China’s Energy and Security Relations with Russia: Hopes, Frustrations and Uncertainties, the think (more…)

AUSTRALIA: Xstrata Coal acquires Canadian deposit from Cline Mining for C$40 million

(EnergyAsia, October 13 2011, Thursday) — Australia’s Xstrata Coal said it has agreed to acquire the entire Lossan metallurgical coal deposit in Canada from Cline Mining Corporation for C$40 million. (US$1=C$1.05). The acquisition was completed yesterday. Located in the Peace River Coalfield of north eastern British Columbia province, Lossan is surrounded by a group of (more…)

AUSTRALIA: Clifford Chance advised Sumisho on investment in A$2.5 billion coal export terminal project

(EnergyAsia, October 13 2011, Thursday) — Law firm Clifford Chance said it advised Sumisho Coal Australia on its recent investment in the A$2.5 billion Stage One of the privately owned and funded Wiggins Island Coal Export Terminal (WICET) in Queensland state. Sumisho Coal, a subsidiary of Japan’s Sumitomo Corporation, is involved in a number of (more…)

AUSTRALIA: Japan’s J-Power to acquire 10% stake in Maules Creek coal mine

(EnergyAsia, October 13 2011, Thursday) — Japan’s Electric Power Development Co Ltd or J-Power, said it has agreed to acquire a 10% interest in an Australian coal mine being developed by Aston Resources Limited. As part of the agreement which is subject to conditions and regulatory approvals, Australia-listed Aston will guarantee long-term thermal coal supply...

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INDONESIA: Coal miner Atlas aims to raise 1.5 trillion rupiah through public listing

(EnergyAsia, October 12 2011, Wednesday) — PT Atlas Resources Tbk, a small Indonesian coal producer, is aiming to raise as much as 1.49 trillion rupiah through an initial public offering to fund the expansion of its mines in Sumatra, Kalimantan and Papua. (US$1=9,000 rupiah). According to the underwriter Indo Premier Securities, Atlas plans to sell...

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CHINA: NEA warns of severe power shortages extending into the winter

(EnergyAsia, October 12 2011, Wednesday) — Large parts of southern and central China, including many of its most industrialised regions, will face “severe” power shortages right through early next year, said officials from the country’s main energy agency and power companies. The National Energy Administration (NEA) delivered the grim news to residents and businesses that...

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THAILAND: State firms interested to invest in 3,000 MW coal-fired power plant

(EnergyAsia, October 12 2011, Wednesday) — At least three Thai state energy firms are seeking to partner Italian-Thai Development (ITD) to jointly develop a 3,000MW coal-fired power plant that will export electricity to the Dawei deep-sea port and industrial estate in neighbouring Myanmar. According to Thai newspaper reports, PTT, Ratchaburi Electricity Generating Holding and Electricity...

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COMPANY: Arch Coal announces senior management changes, opens London office

(EnergyAsia, October 12 2011, Wednesday) — US-based Arch Coal Inc has announced organisational changes in its sales and human resources functions and the opening of a sales office in London. Matt Ferguson will join next February 1 as a senior vice president of Arch Coal Sales Inc, reporting to David Warnecke, Arch’s senior vice president (more…)

MONGOLIA: ADB President Kuroda calls for equitable and sustainable long-term economic development

(EnergyAsia, October 12 2011, Wednesday) — Mongolia has a bright future but needs to continue economic reform and ensure that the fruits of development are extended to all its people, said Haruhiko Kuroda, President of the Asian Development Bank (ADB). He made the call at this week’s ADB-Mongolia Partnership Forum – A Roadmap for a (more…)

AUSTRALIA: Thailand’s Banpu approved to take over Hunnu Coal

(EnergyAsia, October 11 2011, Tuesday) — The proposed A$477-million takeover of Australia-listed Hunnu Coal by Thailand’s largest coal miner, Banpu Public Company has been approved by the regulators of both countries. (US$1=A$1.03). Australia’s Foreign Investment Review Board (FIRB) and the Bank of Thailand separately gave the greenlight for Banpu to acquire the remaining 88% of...

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AUSTRALIA: WorleyParsons awarded coal export terminal contract

(EnergyAsia, October 11 2011, Tuesday) — Australian contractor WorleyParsons said it has been awarded a contract to provide construction and management services for a A$2.5 billion coal export terminal in Queensland state. (US$1=A$1.03). The Wiggins Island Coal Export Terminal Stage 1 (WICET) is a privately funded project linked to the development of a 27-million-tonnes-a-year export...

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INDONEISA: AKR to invest US$100 million to expand Kalimantan coal mining operations

EnergyAsia, October 11 2011, Tuesday) — Indonesia’s AKR Corporindo, a fuels and chemicals distributor, is planning to invest US$100 million to diversify its business including expanding its coal mining operations in Kalimantan. The company will raise funds for the diversification from selling off existing assets as it aims to develop its coal exports to the...

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INDONESIA: Japan’s MHI and MC to use low-rank coal to produce natural gas

(EnergyAsia, October 11 2011, Tuesday) — A consortium comprising two Japanese companies, Mitsubishi Heavy Industries Ltd (MHI) and Mitsubishi Corporation (MC), will work with the Indonesian government to develop a large-scale substitute natural gas (SNG) synthesis project by tapping the country’s abundant low rank coal (LRC) reserves on Sumatra Island. MHI said the project will...

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CHINA: Sinopec offers to acquire Canada’s Daylight Energy for C$2.2-billion

(EnergyAsia, October 11 2011, Tuesday) — China’s largest oil and gas producer, Sinopec Group, has offered to fully acquire Canadian upstream company Daylight Energy Ltd for C$2.2-billion. (US$1=C$1.05). Subsidiary Sinopec International Petroleum Exploration is offering to pay C$10.08 per common share of Daylight for a 43.6% premium over the Calgary-based company’s 60-day average share price. (more…)

SOUTH KOREA: Singapore’s CAO to invest in oil storage terminal in Yeosu

(EnergyAsia, October 10 2011, Monday) — China Aviation Oil (Singapore) Corporation Ltd (CAO), Asia’s largest physical jet fuel trader, said it has agreed to pay 34-billion won for a 26% stake in Oilhub Korea Yeosu Co Ltd (OKYC) which is building a fuel storage terminal in the South Korean port city of Yeosu. (US$1=1,167 won). (more…)

COMPANY: Mercuria Energy concludes deal with US coal producer Bowie Resources

(EnergyAsia, October 10 2011, Monday) — Mercuria Energy Group Holdings SA, a wholly owned subsidiary of Switzerland’s Mercuria Energy Group Ltd, said it has completed a financing transaction and partnership with US coal producer Bowie Resources LLC. Mercuria Energy Group has taken over from another company as Bowie’s primary senior lender and is also providing (more…)

CHINA: Yankuang Group, US Accelergy to conduct feasibility study for coal-to-liquids plant

(EnergyAsia, October 10 2011, Monday) — Accelergy Corporation, a US-based global leader in the production of clean, high-grade, synthetic liquid fuels, said it is teaming up with China’s Yankuang Group to build a large-scale, low carbon, hybrid coal-to-liquids (CTL) plant in Inner Mongolia province. The partners expect to soon begin feasibility study of the 68,000 (more…)

INDONESIA: Adaro, Japanese partners to build 2GW Java coal-fired power plant

(EnergyAsia, October 10 2011, Monday) — Indonesian coal miner Adaro Energy said it and Japan’s Electric Power Development Co (J-Power) and Itochu Corp have been awarded a contract by Indonesia’s state utility PLN to build a 2GW coal-fired power plant in central Java province in Indonesia. Adaro Energy said its wholly owned subsidiary, PT Adaro...

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AUSTRALIA: State government expressed concern with Wesfarmers sale of Premier Coal to Chinese firm

(EnergyAsia, October 10 2011, Monday) — The state government of Western Australia has expressed concern that the state could lose ownership of a second major coal mine to a foreign company in less than year. Last week, Wesfarmers announced that it was selling its important Premier Coal business which owns the Collie mine, 200km south...

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INDIA: GMR Energy on course to complete acquisition of 30% stake in Indonesian coal miner

(EnergyAsia, October 7 2011, Friday) — GMR Energy, a subsidiary of Indian infrastructure firm GMR Infrastructure, is on course to complete its proposed takeover of a 30% stake in Indonesia’s coal miner PT Golden Energy Mines (GEMS) by year-end. GEMS, a subsidiary of Indonesian conglomerate Sinar Mas Group, is said to have coal reserves of...

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PHILIPPINES: PNOC-EC to upgrade coal storage terminals

(EnergyAsia, October 7 2011, Friday) — State Philippine National Oil Co- Exploration Corp (PNOC-EC) said it is planning to upgrade and expand its coal import terminal in anticipation of an increase in trading volume. PNOC-EC chairman and CEO Gemiliano C. Lopez Jr said the company is targeting to improve its coal terminals in Mabini in...

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ASIA: DNV-led report confirms region’s huge potential for coalbed methane (CBM)

(EnergyAsia, October 7 2011, Friday) — A study led by Norway’s DNV has concluded that coalbed methane (CBM) could become as important an energy source for Asia and Australia, as shale gas has for North America. To achieve its potential, the CBM industry must overcome critical commercial, technical and regulatory challenges by implementing reliable verification, (more…)

AUSTRALIA: ASX-listed OGL Resources granted 15-year lease renewal for Ebenezer coal mine

(EnergyAsia, October 7 2011, Friday) — Australia’s OGL Resources Limited said it has been granted a 15-year renewal on the lease for its Ebenezer coal mine in Queensland state, backdated to November 1 2008. The ASX-listed company said it received the renewal for the ML 4712 permit on September 16, paving the way for it (more…)