AUSTRALIA: Japan’s Sumitomo Corp acquired 50% stake in coal mine for A$430 million

(EnergyAsia, July 13 2012, Friday) — Japan’s Sumitomo Corp said it has purchased a 50% stake in a coal mine in Australia’s Queensland state for A$430 million from a subsidiary of local mining firm Aquila Resources Limited. (US$1=A$0.98). Following the transaction, Sumitomo and Vale Australia, a subsidiary of the Brazilian mining giant, are equal owners (more…)

CHINA: Potential to become major natural gas player, but it’s going to be complicated, says Breitling CEO

(EnergyAsia, July 13 2012, Friday) — The following is an edited commentary by Chris Faulkner, CEO of Dallas, Texas-based Breitling Oil & Gas, on the prospects of China becoming a major natural gas producer through the development of its shale and unconventional gas reserves. There is much speculation about China’s potential to become a major (more…)

MONGOLIA: SouthGobi Resources filed “notice of investment dispute” against government

(EnergyAsia, July 13 2012, Friday) — Forced to cease production at its flagship Mongolian coal mine after its proposed takeover by a Chinese firm was blocked, SouthGobi Resources Ltd said wholly owned subsidiary SGQ Coal Investment Pte Ltd has filed a ‘notice of investment dispute’ against the Mongolian government for allegedly violating its bilateral investment (more…)

MARKETS: US coal stocks weak after Patriot Coal declares bankruptcy

(EnergyAsia, July 12 2012, Thursday) — Reeling from slowing demand growth and oversupply, US coal markets are reeling and hurting listed coal stocks that were among the best performers in recent years. Coal stocks are likely to remain under pressure after Monday’s announcement by Patriot Coal Corp that it had filed for bankruptcy.  The share (more…)

CHINA: Government faces growing headache as 1H coal imports surged nearly 66%, stockpile continues to build

(EnergyAsia, July 12 2012, Thursday) — The Chinese government is facing a new challenge from the country’s mounting coal stockpile following a near 66% surge in imports for the first-half of the year amid slowing demand as a result of weaker economic growth. According to official Customs data, China imported 140 million tonnes of coal...

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AUSTRALIA: Energy Minister announced launch of low emission coal partnership with China

(EnergyAsia, July 12 2012, Thursday) — Australia and China have launched a joint A$1.15 million fund to accelerate the development and deployment of clean technology to reduce greenhouse emissions from coal-fired power stations. (US$1=A$0.98). The Clean Coal Technology Partnership fund is an initiative of the Australia-China Joint Co-ordination Group on Clean Coal Technology (JCG), which (more…)

AUSTRALIA: Cliffs Natural Resources to sell 45% stake in coal mining venture for A$141 million

(EnergyAsia, July 12 2012, Thursday) — NYSE-listed Cliffs Natural Resources Inc said its Cliffs Australia Coal Pty subsidiary has agreed to sell its 45% stake in the Sonoma joint venture coal mine in Australia’s Queensland state for A$141 million. (US$1=A$0.98). Australian buyer QCoal Sonoma Pty will also acquire an affiliated coal wash plant by the (more…)

CHINA: L&L Energy to operate new coal washing plant in Yunnan province

(EnergyAsia, July 12 2012, Thursday) — US-based L&L Energy Inc said it has agreed to operate and manage a newly built 600,000-ton-capacity washing plant in China’s Yunnan province for owner HunTai Coal Ltd. The Seattle company which claims a five-year track record of profitable coal operations in China said the agreement could generate US$63 million (more…)

JAPAN: Kansai Electric signs 20-year agreement to import LNG from Australia Pacific LNG Pty Ltd from 2016

(EnergyAsia, July 11 2012, Wednesday) — Japan’s Kansai Electric Power Company (Kansai Electric) has signed an agreement with Australia Pacific LNG Pty Limited for the annual purchase of one million tonnes of liquefied natural gas (LNG) for 20 years starting 2016. The sale and purchase agreement follows last November’s heads of agreement between the two (more…)

CHINA: Oilfield services giant Schlumberger acquires 20.1% stake in Antonoil

(EnergyAsia, July 11 2012, Wednesday) — Oilfield services giant Schlumberger has acquired 423,361,944 shares of Antonoil Oilfield Services Group, representing a 20.1% stake in the Hong Kong-listed company which has a market-leading position in China. The transaction represents a winning deal for both companies, and an important milestone in the Chinese oilfield services industry. International (more…)

AUSTRALIA: QR National awards A$56 million contract for Wiggins Island coal rail project

(EnergyAsia, July 11 2012, Wednesday) — QR National has awarded the second major construction contract worth A$56 million for the development of the Wiggins Island coal rail project, one of Australia’s largest rail infrastructure projects. (US$1=A$0.98). Leighton Contractors has been awarded the civil works contract for the track duplication between Rocklands and Stanwell near Rockhampton, (more…)

AUSTRALIA: Conoco, Origin approve second train expansion of A$23-billion LNG project, raised Sinopec’s equity stake

(EnergyAsia, July 11 2012, Wednesday) — US ConocoPhillips and Australia’s Origin Energy Ltd said they have approved the expansion of their A$23 billion joint-venture with China Petrochemical Corp or Sinopec to export liquefied natural gas (LNG) from processing coal-seam gas (CSG) at a proposed plant in Queensland state. Houston-based ConocoPhillips and Sydney-based Origin said the (more…)

SINGAPORE: Keppel Corp pays US$115 million for 20% stake in upstream company KrisEnergy

(EnergyAsia, July 10 2012, Tuesday) —  Three years after selling off integrated oil company Singapore Petroleum Company (SPC), rig builder Keppel Corp Limited is returning to being an oil producer with the purchase of a 20% stake in upstream company KrisEnergy for US$115 million. In a statement, the world’s biggest builder of offshore rigs said it (more…)

AUSTRALIA: Rail operator QR National expands long-term coal haulage deal with Jellinbah

(EnergyAsia, July 10 2012, Tuesday) — Australian rail freight operator QR National Ltd said it has signed a new long-term contract with Jellinbah Group Pty Ltd to transport coal from its Lake Vermont mine in Queensland state. Under the new contract from July 2012 to 2022, QR will deliver four million tons of coal a (more…)

CHINA: US-based Next Fuel Inc drawing revenues from coal-to-gas licence and operations

(EnergyAsia, July 10 2012, Tuesday) — US-based Next Fuel Inc said it has earned its first revenue of US$160,000 from licensing out its coal-to-gas (CTG) technology and payments for initial testing units completed in China. The Sheridan, Wyoming company, which develops and commercialises clean energy and environmental technologies, said it received the payment from its (more…)

CHINA: Yital Coal raised HK$7 billion in Hong Kong IPO

(EnergyAsia, July 9 2012, Monday) — Chinese coal miner Inner Mongolia Yitai Coal Co’s Hong Kong initial public offering raised just over HK$6.99 billion or US$902 million, less than 19% what it might have achieved in more bullish times. (US$1=HK7.76). Despite being Hong Kong’s second largest stock offering this year, the sale of 162.7 million shares...

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ENVIRONMENT: ExxonMobil acknowledges climate change through fossil fuels use

(EnergyAsia, July 9 2012, Monday) — After decades of fierce denials, US major ExxonMobil has acknowledged the reality of climate change and the role played by fossil fuels burning. Speaking to the Council on Foreign Relations in New York last month, CEO Rex Tillerson of the world’s most powerful corporation to deny global warming and (more…)

ASIA: Singapore, South Korea and Australia are trend-setters in green buildings, says Lux Research

(EnergyAsia, July 9 2012, Monday) — Singapore, Australia and South Korea have been named as global trendsetters in a study on the market for green buildings across 21 countries, according to US-based Lux Research. In its latest study, the Massachusetts, Boston firm said energy security, and environmental and livability concerns drive government policy on green-building (more…)

MALAYSIA: Intergraph expands Kuala Lumpur office to boost support for energy projects

(EnergyAsia, July 9 2012, Monday) — US-based Intergraph said it has expanded its Kuala Lumpur office in Malaysia to support customers in implementing SmartPlant® and SmartMarine® Enterprise suites of engineering solutions. Boosted by a vibrant oil and gas industry with a strong international presence, the Malaysian economy has experienced strong growth in recent years. Intergraph (more…)

PHILIPPINES: AboitizPower signs contracts worth US$546 million for construction of coal-fired power plant?

(EnergyAsia, July 9 2012, Monday) — Through wholly-owned subsidiary Therma South Inc (TSI), Philippines’ Aboitiz Power Corporation has signed several contracts worth a total of US$546 million to build a 300-MW circulating-fluidised-bed coal-fired power generation plant in the country’s southern Mindanao province. The mix of local and foreign contractors will build the plant in Barangay (more…)

SINGAPORE: Wartsila to supply integrated power and propulsion systems for Pacific Radiance’s offshore service vessels

(EnergyAsia, July 6 2012, Friday) — Wartsila, the Finland-based marine solutions and services provider, said it has received an order to supply fully integrated power generation and propulsion packages for three vessels being built for Pacific Radiance Ltd, a Singapore-based company specialising in offshore service activities. Wartsila said its packages will help meet Pacific Radiance’s (more…)

INDONESIA: President, country’s reputation affected by Churchill Mining’s suit over coal mine dispute

(EnergyAsia, July 6 2012, Friday) — Indonesian President Susilo Bambang Yudhoyono said he has taken note of a huge international lawsuit filed against his government for allegedly failing to honour the terms of UK-based Churchill Mining Plc’s investment in a coal project in Kalimantan province as set out under a bilateral investment treaty between the (more…)

CHINA: Praxair starts up air separation plant to supply coal gasification plant in Wuwei

(EnergyAsia, July 6 2012, Friday) — Praxair China said it has started up a large air separation plant in Wuwei in Anhui province to supply oxygen, nitrogen and clean air to a coal-based chemicals plant in nearby Jiangsu province. Located 100 km from Nanjing city in eastern China, Anhui HuaYi Chemical Co Ltd’s plant converts (more…)

AUSTRALIA: Cougar’s Asian push in underground coal gasification boosted by extended licence deal with technology partner Ergo

(EnergyAsia, July 6 2012, Friday) — Australia’s Cougar Energy Limited said it has extended its agreement for the use of a proprietary underground coal gasification (UCG) technology from Canadian technical partner Ergo Exergy Technologies Inc. Cougar said it signed the extension for the use of the Montreal-based company’s ?UCGTM Technology just as it is “aggressively (more…)

CHINA: Qinhuangdao’s thermal coal price at lowest since late 2009, could fall further

(EnergyAsia, July 6 2012, Friday) — Traders expect China’s benchmark Qinhuangdao thermal coal price to fall further after slumping to their lowest level since November 2009.Amid falling demand, coal with an energy value of 5,500 kilocalories per kg traded at Qinhuangdao port slumped around 1.5% to a between 660 and 680 yuan a metric ton...

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