(EnergyAsia, November 9 2011, Wednesday) — Engineering giant Foster Wheeler AG said one of its subsidiaries has signed a 20-year agreement with Essar Projects India Ltd (EPIL), a subsidiary of Essar Group, to provide a technology license for utility-sized circulating fluidised-bed (CFB) steam generators to be sold in India. The terms of the agreement were (more…)
(EnergyAsia, November 9 2011, Wednesday) — Australia’s Parliament has voted to pass the government’s carbon tax package that the coal association says contains “fatal flaws” handicapping one of the country’s largest expert earners at a time of uncertainty in the global economy. With the support of the Greens party, the Senate voted 36 to 32 (more…)
(EnergyAsia, November 8 2011, Tuesday) — Hong Kong-listed Winsway Coking Coal Holdings Limited said it recently secured a 10-year strategic alliance agreement to obtain supply of high-quality coal from Mongolyn Alt (MAK) from next year Winsway said MAK or its designated companies from Mongolia will supply three million tonnes of high-quality coal a year with scope...
(EnergyAsia, November 8 2011, Tuesday) — An “astonishing” 7.1 million tonnes of carbon dioxide (CO2) was estimated to have been emitted into Singapore’s atmosphere last year, according to a Frost & Sullivan study commissioned by Germany’s specialty chemicals company LANXESS. The study found that 45% of this emission came from passenger cars which made up (more…)
(EnergyAsia, November 8 2011, Tuesday) — The following is an edited version of the speech delivered by Martin Ferguson, Australia’s Minister for Resources and Energy, on October 24. “Pipelines are essential to our standard of living. They provide us with gas for cooking and heating, along with water for drinking and washing – not to (more…)
(EnergyAsia, November 8 2011, Tuesday) — With 3.6 billion tonnes carbon dioxide equivalent (CO2e) traded, the value of the global carbon markets grew 3% to US$71 billion in the first half of 2011, said the International Emissions Trading Association (IETA). Of this, the Clean Development Mechanism (CDM) market continues to be the second-largest segment globally, (more…)
(EnergyAsia, November 8 2011, Tuesday) — Indonesian coal miner PT Adaro Energy Tbk said its net income for the nine months ended September 30 2011 surged 96.5% to a record US$376 million. Its net revenue increased 48% year over year (y-o-y) to US$2.9 billion while gross profit margins improved to 34.4% from 31.8% over the same (more…)
(EnergyAsia, November 4 2011, Friday) — India’s twin power and coal supply crises show no signs of letting up as the Central Electricity Authority (CEA) has reported that 33 of the country’s power plants are now operating with less than four days of coal stockpile. The report flies in the face of the Coal Ministry’s...
(EnergyAsia, November 4 2011, Friday) — Canada’s Grande Cache Coal said it has accepted a joint all-cash C$1 billion takeover offer from Hong Kong-listed Winsway Coking Coal and Japanese trader Marubeni Corp. (US$1=C$1). Their newly established 60/40 joint venture has agreed to pay C$10 for each Grande Cache share for a 70% premium to its...
(EnergyAsia, November 4 2011, Friday) — Australia’s Coalspur Mines Ltd said it has secured a 14-year agreement to export up to 8.5 million tons of thermal coal a year through the Ridley Terminals Inc port in Prince Rupert in Canada’s British Columbia province. The Perth-based company said the deal significantly enhances the development prospects of...
(EnergyAsia, November 4 2011, Friday) — Singapore’s Ezra Holdings said its subsea construction division EMAS AMC has secured a contract from BP Exploration & Production Inc to perform subsea work in the Atlantis field in Green Canyon Block 743 in the Gulf of Mexico. The project scope consists of the installation and replacement of subsea (more…)
(EnergyAsia, November 4 2011, Friday) — Australia’s Cougar Energy Limited has re-affirmed its two-pronged strategy to expand into Asia while seeking recovery of its Kingaroy power plant project in Queensland that has been shut down by the state government. The ASX-listed company is working on developing and commercialising alternative energy projects, using the world’s best (more…)
(EnergyAsia, November 3 2011, Thursday) — The Clean Energy Expo Asia 2011 held in Singapore this week aims to raise awareness of sustainable energy innovations in the Asia Pacific region. The annual event which includes a trade fair and conference promotes the development and adoption of renewable energy, energy efficiency and sustainable mobility by demonstrating (more…)
(EnergyAsia, November 3 2011, Thursday) — Huaneng Power International Inc (HPI) said its application to build two 600MW domestic supercritical coal-fired air-cooling generation units at its 80%-owned Zuoquan power plant in Shanxi province has been approved by the National Development and Reform Commission (NDRC). As part of its RMB5.09 billion investment, the company will install...
(EnergyAsia, November 3 2011, Thursday) — South Korea’s LG International said it is expanding its stake in the Ensham thermal coal mine in Australia’s Queensland state from 5% to 15%. LGI said it will pay about US$50 million to acquire the additional stake from Japanese electric power company J-Power that will boost its annual production...
(EnergyAsia, November 3 2011, Thursday) — Thailand’s state PTT Exploration and Production Public Company Limited (PTTEP) said it made a net profit of US$250 million for the July-September quarter, down 32% compared with US$370 million for the second quarter. It blamed the decline on losses from non-recurring items totalling US$178 million due to an unrealised foreign (more…)
(EnergyAsia, November 3 2011, Thursday) — Australia’s C@Limited said it will acquire eight highly prospective Mongolian coal licences for US$7.8 million after signing a conditional agreement with Peabody‐Winsway Resources to purchase the entire issued capital in its subsidiary BDBL. C@Limited said the eight coal licences cover 625 square kilometres in a major emerging coal province. (more…)
(EnergyAsia, November 2 2011, Wednesday) — The fourth Singapore International Energy Week (SIEW) conference opened yesterday with its focus on the theme of “Securing Our Energy Future” Nobuo Tanaka, former Executive Director of the International Energy Agency (IEA) delivered the conference’s main speech, “Comprehensive Energy Security”, on Monday. He told the audience of more than (more…)
(EnergyAsia, November 2 2011, Wednesday) — Intense international jockeying for a share of possibly the world’s largest coal deposit has led to a delay in billions of dollars worth of investment flows into impoverished Mongolia. The government has rescinded the award of the western section of the Tavan Tolgoi deposit to a consortium of private...
(EnergyAsia, November 2 2011, Wednesday) — Hong Kong Stock Exchange-listed Yanzhou Coal Mining Co blamed foreign exchange losses for a 70% decline in its third-quarter profit compared with the same period last year. In a statement to the exchange, China’s fourth-largest coal producer said its profit fell to 1.1 billion yuan from 3.7 billion yuan...
(EnergyAsia, November 2 2011, Wednesday) — South Korea’s LG International has begun producing bituminous coal in at its 30%-owned mine in China’s Inner Mongolia autonomous region with recoverable reserves estimated at 180 million tons. Starting October, the mine is slated to initially produce five million tons of coal a year, eventually rising to 10 million...
(EnergyAsia, November 2 2011, Wednesday) — China’s coal consumption rose 10.3% to 2.28 billion metric tons in the first nine months of 2011 compared with the same period last year, according to the country’s leading economic planning agency. The National Development and Reform Commission (NDRC) said the increased demand was met by imports which surged...
(EnergyAsia, November 1 2011, Tuesday) — India’s power regulator has warned that the country may not meet its ambitious economic growth targets on account of worsening electricity shortages brought on by persistent coal supply shortages. India has failed to sufficiently raise domestic output and imports to meet its surging demand for coal, jeopardising the government’s...
(EnergyAsia, November 1 2011, Tuesday) — Norway’s DNV said it is working with government and industry partners in Asia to develop guidelines and best practices for capturing and storing carbon dioxide and assessing risks associated with such projects. DNV said it is in dialogue with the region’s energy ministries and leading energy companies to undertake...
(EnergyAsia, November 1 2011, Tuesday) — Australia-listed OGL Resources Limited said it is near to securing haulage capacity for its Ebenezer coal mine in Queensland state, with the receipt of an indicative access proposal (IAP) from rail operator QR National. OGL said its preferred rail operator, QR National, has submitted an operating plan to rail...