(EnergyAsia, January 6 2012, Friday) — PetroChina Co, the country’s largest natural gas producer, has started up its second liquefied natural gas (LNG) import and redistribution terminal in the northeastern port city of Dalian. From December 27, the three-million-ton/year terminal began delivering six million cubic metres of gas a day to the Dalian-Shenyang pipeline network...
(EnergyAsia, January 6 2012, Friday) – PHI Group Inc, a US-based company focused on energy and natural resources, said it has signed an agreement with Vietnam’s Hoang Ngoc Joint Stock Company, to jointly develop a 2,000 MW coal-fired power plant in that country. PHI Group said it is working with several international institutional investor groups...
(EnergyAsia, January 6 2012, Friday) — OxfordPrinceton, a leading provider of energy courses around the world, has released its schedule for professional training courses for oil and gas executives to be held in Singapore this year. The 25 courses, to be conducted by experienced former executives at international energy companies and consultants, cover a wide (more…)
(EnergyAsia, January 5 2012, Friday) — Meridian SeamGas, an Australia-based joint venture between WestSide Corporation Limited and Mitsui E&P Australia Pty Ltd, has executed an agreement to fast-track access to gas to help fulfil its contractual obligations and reduce payments to remedy shortfalls. In a statement on behalf of the joint venture, WestSide Corp said (more…)
(EnergyAsia, January 5 2012, Thursday) — Malaysian state oil and gas company Petronas has completed its purchase of a 30% stake in a S$1.2 billion power plant being constructed on Singapore’s Jurong Island by India’s GMR Energy. (US$1=S$1.3). Mumbai-based GMR Infrastructure said its subsidiary, which retains a 70% stake, completed the share transfer in GMR...
(EnergyAsia, January 5 2012, Thursday) — To meet rising domestic demand, state-owned Vietnam National Coal and Mineral Industries Group (Vinacomin) said it plans to reduce coal exports over the next three years from 16.8 million tonnes in 2011. It expects to slash coal exports by nearly 20%, or 3.3 million tonnes, to 13.3 million tonnes...
(EnergyAsia, January 5 2012, Thursday) — China now fully owns a Canadian oil sands project for the first time after Athabasca Oil Sands Corp (AOSC) said it had sold off its remaining 40% stake in a northern Alberta project to a PetroChina subsidiary for C$680 million in cash. (US$1=C$1.03). Calgary-based AOSC said it will reduce...
(EnergyAsia, January 5 2012, Thursday) — As in the case of Iraq, while the West has been sucked into a seemingly never-ending conflict, China has walked away with a tangible prize of a coveted first oil exploration deal from war-torn Afghanistan. To the consternation of the West, Kabul has just approved state-owned China National Petroleum...
(EnergyAsia, January 5 2012, Thursday) — China Petrochemical Corp, also known as Sinopec Group, the country’s second-largest oil company, has agreed to pay Devon Energy Corp up to US$2.2 billion to acquire a one-third stake in five of its exploratory shale oil projects in the US and to cover drilling expenses. Devon Energy said that (more…)
(EnergyAsia, January 4 2012, Wednesday) — Singapore Exchange’s (SGX) AsiaClear service has begun clearing more varieties of over-the-counter (OTC) coal and naphtha swaps over the past month. Since December 5, SGX said it has cleared contracts for OTC CFR South China coal swaps and CFR Japan naphtha swaps. The coal swap contracts are traded in (more…)
(EnergyAsia, January 4 2012, Wednesday) — Australian upstream company Santos said it has secured US$1.2 billion in corporate senior debt facilities from the country’s Export Credit Agency (ECA). Santos said the facilities provide it with additional liquidity with flexible drawdown dates during the construction period of the Gladstone LNG (GLNG) project in Queensland state. The (more…)
(EnergyAsia, January 4 2012, Wednesday) — As part of a capital reduction proposal by Australia’s Oakey Power Holdings Pty Ltd (OPH), Contact Energy will sell off its 25% stake in the company for A$31 million to the other two shareholders. (US$1=A$0.96). The proposal, linked to the refinance of Oakey Power Station’s project debt, has been (more…)
(EnergyAsia, January 4 2012, Wednesday) — Mr Westacott, a former ExxonMobil executive, is Aon Risk Solutions’ Asia Pacific director for energy services. Q: Your job scope. You have a wide area to cover in the oil and gas sector, from upstream to downstream. How do you assess risks on exploration and production, and on refineries (more…)
(EnergyAsia, January 4 2012, Wednesday) — Kuwait has pledged to continue expanding its energy and trade ties with China after reporting a sharp rise in their oil trade since 2004 when then Prime Minister Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, now the Emir, led a delegation of political and business leaders to expand ties with Beijing....
(EnergyAsia, January 3 2012, Wednesday) — With more and more nations getting more environment conscious, it is not surprising that many had resorted to use either renewable energy or clean energy to fuel their respective energy requirements. A number of nations, such as China, India and South Korea have been importing liquefied natural gas (LNG)...
(EnergyAsia, January 3 2012, Tuesday) — The first pipeline exporting Russian crude oil to China pumped 15 million tonnes after completing its first year of operation on January 1, said its operators Transneft and PetroChina. The Pipeline Branch of Petro China (PBPC) which looks after the main 928-km portion on Chinese soil, and Transneft, which...
(EnergyAsia, January 3 2012, Tuesday) — In the last two months of 2011, Chinese state-owned firms committed to more than US$10 billion in oil and gas projects in Canada, Brazil and Cameroon while selling off a small asset in Indonesia for US$212 million. Sinopec offered to invest a total of US$5.2 billion in Brazil’s offshore...
(EnergyAsia, January 3 2012, Tuesday) — The following is an edited description of a report for the Centre for European Reform written by Alexandros Petersen with Katinka Barysch. Energy is fundamental to the rise of Russia and China as great powers. Due to its vast oil and gas resources, Russia has re-emerged as a great...
(EnergyAsia, January 3 2011, Tuesday) — US-based Peabody Energy said it is increasing seaborne coal volumes for both the domestic and export markets at its expanded Wilpinjong and Millennium mines in Australia. Following a combined investment of up to A$370 million by 2014, Peabody said it expects to raise annual production at the two mines (more…)