(EnergyAsia, January 20 2012, Friday) — Royal Dutch Shell Plc and Tianjin State Farms Agribusiness Group Co will jointly develop and own a 200,000-cubic metre fuel storage terminal in the northern Chinese city of Tianjin. The newly set up Shell North China Oil Group Ltd will begin construction of the proposed 550-million-yuan terminal in mid-2012....
(EnergyAsia, January 20 2012, Friday) — EOC Limited (EOC), a Singapore-based provider of offshore services to oil and gas producers, said its FY2012 Q1 net profit surged more than 14 times to US$8.5 million over the same period the previous year. Boosted by strong performances at both its construction and production divisions, the company said revenue (more…)
(EnergyAsia, January 20, 2012, Friday) — Malaysian state energy firm Petronas said it and its partners have signed a transition agreement with the government of South Sudan for their continued operations in the country’s upstream blocks previously awarded by the government of the Republic of the Sudan. South Sudan seceded from Sudan last year. The...
(EnergyAsia, January 20, 2012, Friday) — Asian cities must focus on developing liveable, competitive, inclusive and environmentally sustainable cities supported by imporved transportation systems, said the Asian Development Bank (ADB). At a recent forum in Manila, Philippines, ADB President Haruhiko Kuroda said that with 80% of Asia’s GDP coming from urban areas, the quality and (more…)
(EnergyAsia, January 20 2012, Friday) — Engineering giant Foster Wheeler AG said subsidiary Foster Wheeler India Private Limited has won a contract to develop a new five-million-tonne/year liquefied natural (LNG) receiving terminal in Ennore city in the Indian state of Tamil Nadu by 2016. Awarded by state-owned Indian Oil Corporation Limited (IOCL), the contract’s scope (more…)
(EnergyAsia, January 19 2012, Thursday) — The Organization of the Petroleum Exporting Countries (OPEC) produced 30.83 million b/d of crude oil in December, up 230,000 b/d from estimated November output of 30.6 million b/d, said energy media Platts. In its latest survey of OPEC and oil industry officials and analysts, Platts said Libya accounted for...
(EnergyAsia, January 19 2012, Thursday) — Russia has promised to increase the supply of liquefied natural gas (LNG) to India from 2016, but price and sales terms are likely to be hurdles for any attempted major long-term deals between the two sides. Russian President Dmitry Medvedev made the promise in welcoming Indian Prime Minister Manmohan...
(EnergyAsia, January 19, 2012, Thursday) — UK-based international learning and skills specialist Atlas said it has accredited the Al Delma facility in Iraq’s Basra City to provide the International Minimum Industry Safety Training (IMIST) programme for the oil and gas industry. The Al Delma centre will be capable of delivering the programme to as many (more…)
(EnergyAsia, January 19 2012, Thursday) — Global energy demand will grow by an average annual rate of 1.6% or a total 39% over the next 20 years fuelled by economic and population growth in non-OECD countries, said BP’s latest Energy Outlook 2030. But it’ll grow at a “slowing annual rate” due in part to increased (more…)
(EnergyAsia, January 19, 2012, Thursday) — EMAS, a global offshore contractor and operating brand for Singapore-based Ezra Holdings Limited, said its subsea construction division, EMAS AMC, has secured two contracts to provide mooring chain and riser replacements in the North Sea on the Norwegian Continental Shelf. The combined value of the contracts awarded by Norway’s (more…)
(EnergyAsia, January 18 2012, Wednesday) — India’s state-owned GAIL Gas Limited has signed a memorandum of understanding (MoU) with the Andhra Pradesh state government to develop a 50-billion-rupee floating liquefied natural gas (LNG) terminal off the country’s east coast by 2013. (US$1=51 rupees). GAIL Gas Limited, a wholly owned subsidiary of GAIL (India) Limited, will (more…)
(EnergyAsia, January 18 2012, Wednesday) — Thai state energy company PTT is aiming to complete the expansion of the country’s second LNG import terminal by 2014-2015 instead of the original target deadline of 2016. Citing faster-than-expected growth in the country’s natural gas demand, the company said the new five million mt/year unit at its Map...
(EnergyAsia, January 18 2012, Wednesday) — China’s CNOOC will have to pay at least 50% more for its liquefied natural gas (LNG) supply from the Tangguh export terminal in Papua province, said Indonesian upstream energy regulator BPMigas. In its meeting with CNOOC this month, BPMigas wants to raise the contract price from US$3.35 per million...
(EnergyAsia, January 18 2012, Wednesday) — Indonesia may have to pare down its plans to import liquefied natural gas (LNG) after Asian spot prices more than tripled to between US$16 and US$18 per million BTU in the wake of the earthquake-tsunami disaster in Japan on March 11. Without the approval of the Finance Ministry, state...
(EnergyAsia, January 18 2012, Wednesday) — The tripling of spot liquefied natural gas prices in Asia over the past year is threatening the viability of a proposed 40-billion-rupee import terminal project at Mundra Port on India’s west coast. State-owned Gujarat State Petroleum Corporation (GSPC) has been unable to decide if it will participate in an...
(EnergyAsia, January 17 2012, Tuesday) — Saudi Arabia’s chemical giant SABIC and China’s Sinopec said they will jointly invest in a new 260,000 metric tons/year polycarbonate plant at the Sinopec SABIC Tianjin Petrochemical Company (SSTPC) in Tianjin city in northeastern China. The existing SABIC-Sinopec plant has an annual production capacity of three million tons. The (more…)
(EnergyAsia, January 17 2012, Tuesday) — China’s demand and import of liquefied natural gas (LNG) are expected to remain strong this year on continued growth in its electricity demand and growing preference for clean burning fuel. Natural gas use has huge growth potential in China as it is a relatively new fuel and currently generates...
(EnergyAsia, January 17 2012, Tuesday) — India’s liquefied natural gas (LNG) import capacity is expected to increase from 13.5 million tonnes a year (t/y) now to 47.5 million t/y by 2016 and 62.5 million t/y by 2020, said Petronet. India’s sole natural gas importer and LNG terminal operator is building a second receiving and regasification...
(EnergyAsia, January 17 2012, Tuesday) — As Indonesia faces the prospects of worsening energy shortages, its three main state energy companies, gas distributor PGN, power utility PLN, and oil and gas firm Pertamina, are preparing to start importing liquefied natural gas (LNG) for the first time to generate electricity. Pertamina and PGN have formed a...
(EnergyAsia, January 17 2012, Tuesday) — Japan’s INPEX Corp and France’s Total have given their final approval to proceed with their joint US$34 billion investment to develop the Ichthys liquefied natural gas (LNG) project in Australia’s Northern Territory state. INPEX chairman Naoki Kuroda made the announcement in Darwin city, the site of the one of (more…)
(EnergyAsia, January 16 2012, Monday) — China National Offshore Oil Corp (CNOOC), the nation’s largest offshore oil and gas company, said its subsidiary CNOOC Ltd has started seismic operations to explore for shale gas on a 4,800-sq-km onshore block in eastern Anhui province. Following its recent acquisition of Chesapeake Energy assets in the US, the...
(EnergyAsia, January 16 2012, Monday) — Global trade in liquefied natural gas (LNG) will grow strongly for the rest of the decade, helped by the completion of 26 new liquefaction projects that will boost capacity by 60% by 2020, said the France-based international association CEDIGAZ. In its latest annual survey of the industry, CEDIGAZ said...
(EnergyAsia, January 16 2012, Monday) — Saudi Aramco expects its joint 400,000 b/d refinery with China’s Sinopec Group in the Saudi industrial city of Yanbu to begin full commercial operations in 2014. The Dhahran-based Saudi firm will own a majority 62.5% stake in the export-oriented Yanbu Aramco Sinopec Refining Co (YASREF) refinery to be located...
(EnergyAsia, January 16 2012, Monday) — A local council in Australia’s resource-rich Queensland state has been slammed for “political grandstanding” for trying to ban coal and coal-seam gas (CSG) developments. Queensland Resources Council (QRC) said a ban would mean that Somerset Regional Council’s 22,500 residents would have to give up the economic benefits of the (more…)
(EnergyAsia, January 16 2012, Monday) — Qatargas said it has awarded an engineering, procurement and construction (EPC) contract to South Korea’s Samsung Engineering Ltd for a 54,000 b/d hydro-treater (DHT) unit to produce ultra low-sulphur diesel fuel at the Laffan refinery in Qatar. The 350-million-rial unit will produce Euro 5-specification diesel containing less than 10 (more…)