(EnergyAsia, July 23 2012, Monday) — Puma Energy, a Switzerland-based midstream and downstream oil company, has begun its expansion into Asia with the purchase of Chevron Kuo Pte Ltd, a Singapore entity which owns 70% of Chevron Bitumen Vietnam Limited (CBVL). With a 35-member staff, CBVL imports, stores and distributes bitumen or asphalt for road (more…)
(EnergyAsia, July 23 2012, Monday) — Consumers in four major markets are optimistic about the future of solar power, but are not fully informed about the current cost and adoption rates of solar technology, according to the latest annual survey by Applied Materials Inc, a market leader in solar photovoltaic (PV) manufacturing equipment. In its (more…)
(EnergyAsia, July 23 2012, Monday) — Two Indian companies, Reliance Industries Ltd (RIL) and Bharat Petroleum Corp Ltd (BPCL), recently awarded contracts to expand and upgrade their downstream oil and petrochemical plants. In separate statements, French engineering giant Technip and US-based CB&I said they have secured contracts with privately-owned RIL to help build and integrate (more…)
(EnergyAsia, July 23 2012, Monday) — To enhance India’s energy security, the government must act now to increase the nation’s nuclear and renewable energy use while reducing the high dependence of the power industry on coal, said London, England-based consulting group GlobalData. In a new report on India’s coal industry, GlobalData said the sector has (more…)
(EnergyAsia, July 20 2012, Friday) — Panasonic Asia Pacific, a unit of the Japanese electronic firm, has established its first Energy Solutions Development Center in the Asia Pacific region in Singapore. At the recent World Cities Summit in Singapore, Panasonic said it will be investing S$10.2 million in the centre over the next two years (more…)
(EnergyAsia, July 20 2012, Friday) — US conglomerate GE said it is working to boost electricity output in Iraq’s Kurdistan region as well as localise operations at its one-year-old energy manufacturing technology centre in Saudi Arabia. The NYSE-listed company said it has secured a contract from independent power producer Mass Global Investment Company to provide (more…)
(EnergyAsia, July 20 2012, Friday) — Citing the country’s geological complexities, UK-based consulting group GlobalData has declared China’s plans to develop and produce shale gas as being “overly optimistic”. In a new report, GlobalData said the industry will be challenged by the difficult geology of China’s shale gas formation, water shortages, insufficient pipeline infrastructure, state (more…)
(EnergyAsia, July 20 2012, Friday) — With its natural gas consumption set to almost treble over the next eight years, China will boost imports as well as domestic production, predicts UK-based consulting firm GlobalData. According to its latest research, China’s natural gas consumption surged from 24.5 billion cubic metres (bcm) in 2000 to 131.7 bcm (more…)
(EnergyAsia, July 19 2012, Thursday) — Gas processed from coal and imports from other countries will help China meet its rising energy demand through 2030 as its domestic shale production will not be sufficient, said Wood Mackenzie analyst Gavin Thompson. Speaking at last month’s World Gas Conference (WGC) in Malaysia, he predicted that China’s natural...
(EnergyAsia, July 19 2012, Thursday) — Apart from growing at a projected slower rate of 7% this and next year, the Indian economy will face rising risks from its slow reform efforts, high oil prices, volatile inflation and the global economic crisis, said the business community and the International Monetary Fund (IMF). In a recent...
(EnergyAsia, July 19 2012, Thursday) — China’s Export-Import Bank has agreed to lend US$1.13 billion of the US$1.68 billion needed by Kazakhstan for the upgrade of its largest and oldest oil refinery in Atyrau province. With the 13.5-year loan, state oil and gas firm KazMunaiGas will add an 48,000 b/d unit to enable the 100,000...
(EnergyAsia, July 19 2012, Thursday) — US conglomerate GE said it and Russia’s oil and gas giant Rosneft have signed a memorandum of understanding (MOU) that lays the foundation for the two companies to jointly evaluate and develop oil and gas exploration and production opportunities in the Russian Federation. Signed by John Krenicki, GE vice (more…)
(EnergyAsia, July 18 2012, Wednesday) — The following is an edited transcript of an updated podcast by Jonathan Leitch, Downstream Senior Analyst at consultant Wood Mackenzie. In the update below, Mr Leitch examines what is driving refining margins in the short-to-medium term, with margins recovering in June after declining in May. WoodMackenzie provides monthly product (more…)
(EnergyAsia, July 18 2012, Wednesday) — Indonesia’s economy will again perform well this year, growing by 6.1% to follow on last year’s 6.5% expansion, said the International Monetary Fund (IMF). An IMF study team which visited the country from June 25 to July 6 said Indonesia would have to watch out for knock-on effects from (more…)
(EnergyAsia, July 18 2012, Wednesday) — Despite Saudi Arabia raising its production, the Organisation of the Petroleum Exporting Countries’ (OPEC) crude output dipped by 30,000 b/d to 31.72 million b/d in June from 31.75 million b/d in May, said energy media Platts. The decline in Iranian production, as a result of tightening economic sanctions imposed...
(EnergyAsia, July 18 2012, Wednesday) — French oil and gas major Total said it has boosted its 24% stake in the Ichthys liquefied natural gas (LNG) project in Australia’s Northern Territory to 30% after acquiring shares from operator and majority Japanese partner INPEX. Total said the acquisition does not affect the project’s offtake agreements as (more…)
(EnergyAsia, July 17 2012, Tuesday) — Resource nationalism, environmental opposition, slowing demand and rising cost may have effectively put an end to the current cycle of coal’s runaway growth in Asia. Faced with the same challenges of slowing external demand and rising cost, the region’s three major coal producing countries, Australia, Indonesia and Mongolia, are...
(EnergyAsia, July 17 2012, Tuesday) — Relations between the two Australian partners developing natural gas reserves in the Bass Strait have soured after the latest cost blow-out means the project could exceed the original A$360 million budget by over 60%. (US$1=A$0.98). AWE Energy, with a 46.25% stake, has slammed operator and 42.5% owner Origin Energy (more…)
(EnergyAsia, July 17 2012, Tuesday) — Saudi Arabia’s state oil giant Aramco said it is merging its Vela International Marine subsidiary with another Saudi firm Bahri to create a large and more diversified national shipping company, and one of the world’s largest oil carriers. Under a non-binding memorandum of understanding, Bahri, or National Shipping Company (more…)
(EnergyAsia, July 17 2012, Tuesday) — US conglomerate GE said it has secured a US$16.5 million contract to supply equipment to the Power Transmission Company No. 4 (PTC4), a subsidiary of Vietnam’s National Power Transmission Corporation (NPT), to double the country’s power capacity. GE said it will supply six series capacitor banks and provide on-site (more…)
(EnergyAsia, July 16 2012, Monday) — Indonesia has written a Balinese ‘wayang kulit’ plot for its coal industry, leaving both investors and domestic consumers confused and deeply anxious over future policies governing export plans and supply availability. After months of well-founded rumours that the government was planning to impose a punitive tax on coal exports,...
(EnergyAsia, July 16 2012, Monday) — A tanker, owned by Hong Lam Marine Pte Ltd and chartered by an ExxonMobil subsidiary, has become the first in Singapore to use an officially-approved mass flow metering system for bunker fuel transfers. The custody transfer between the bunker tanker MT Emissary and Kota Layang on July 11 took (more…)
(EnergyAsia, July 16 2012, Monday) — Singapore-based Strategic Petroleum has launched what it claims to be the world’s first commercially viable system that simultaneously converts different types of waste-material feedstock into clean energy and water. Using a proprietary molten metal gasification process, the company said its STX MultiFEEDTM system turns low-rank coal, biomass, landfill waste, (more…)
(EnergyAsia, July 16 2012, Monday) — Venezuela’s state oil and gas company PDVSA has awarded a US$2.993 billion contract to a Sino-South Korean consortium to expand and upgrade the existing 210,000 b/d refinery in Puerto la Cruz, located about 250 km east of Caracas city. Wison Engineering Ltd, China’s largest private chemical engineering, procurement and (more…)
(EnergyAsia, July 13 2012, Friday) — China Shenhua Energy Co said it plans to invest 4.57 billion yuan in building a coal storage and shipping hub in Zhuhai city in the country’s southern province of Guangdong. The Hong Kong-listed company said it received approval from China’s main planning agency, the National Development and Reform Commission,...