(EnergyAsia, August 6 2012, Monday) — The unconventional oil and gas bubble may have burst with Australia’s BHP Billiton writing off a massive US$2.84 billion off the value of US shale gas assets it bought last year. The company paid a total of US$17 billion for the Fayetteville assets from Chesapeake Energy in February 2011 (more…)
(EnergyAsia, August 6 2012, Monday) — China’s coal market could remain weak into early 2013 on slumping demand and continued oversupply from rising production and imports, forcing more mines to shut down, said the China National Coal Association (CNCA). Presenting this bleak assessment at a recent media briefing amid reports of mine closures in Inner...
(EnergyAsia, August 6 2012, Monday) — China’s coal mining and transportation groups have jointly launched a national pricing index to compete against the older Qinghuangdao Port index provided by consumer groups. The China Coal Industry Association and China Coal Transportation & Sale Society launched their index last month to counter what they claim is buyers’...
(EnergyAsia, August 3 2012, Friday) — Coal Asia Holdings said it plans to offer 800 million shares at par value in its upcoming initial public offering (IPO) on the Philippine Stock Exchange’s first board by the fourth quarter. (US$1=42 peso). The company, which holds the country’s second largest coal reserves, aims to raise 726.87-million peso (more…)
(EnergyAsia, August 3 2012, Friday) — Singapore listed linen and apparel company Aussino Group Ltd is morphing into a retail fuels operator with its proposed S$70 million takeover of Max Myanmar Group’s energy business unit which owns and operates a downstream business in Myanmar. (US$1=S$1.25). Aussino began its transition early last month when it signed (more…)
(EnergyAsia, August 3 2012, Friday) — China’s state-owned Chalco said it has extended its offer to acquire a majority stake in Mongolian coal miner SouthGobi Resources Ltd for the second time. The aluminium producer, a major customer of SouthGobi, is facing strong resistance from Mongolia which is wary of China’s growing role in its economy (more…)
(EnergyAsia, Aug 3 2012, Friday) — India suffered a huge blow to its long-term economic prospects and international reputation with this week’s massive power blackouts shutting down electricity supply to more than half its 1.2-billion population for at least two days. The blackout enveloping almost the entire northern half of the country including the capital...
(EnergyAsia, Aug 3 2012, Friday) — India suffered a huge blow to its long-term economic prospects and international reputation with this week’s massive power blackouts shutting down electricity supply to more than half its 1.2-billion population for at least two days. The blackout enveloping almost the entire northern half of the country including the capital...
(EnergyAsia, August 2 2012, Wednesday) — US major Chevron Corp is further boosting its natural gas profile in Asia with plans to raise production in Bangladesh after making additional finds in Australia. The US major said a subsidiary will invest US$500 million to expand production capacity at the Bibiyana field in northwestern Bangladesh by 300 (more…)
(EnergyAsia, August 2 2012, Wednesday) — BASF, the German chemicals giant, recently opened its global mining research and development centre at the Australian Minerals Research Centre (AMRC) in Perth in Western Australia state. Its scientists will study and develop solutions to specifically meet the needs for mineral processing and metal production with the aim of (more…)
(EnergyAsia, August 2 2012, Wednesday) — Australia’s Cougar Energy Limited said it has appointed former Linc Energy executive Rob Neill as CEO and managing director from August 6. Mr Neill succeeds Len Walker who stepped down from these roles but remains a board director to focus on the commercial development of underground coal gasification (UCG) (more…)
(EnergyAsia, August 2 2012, Wednesday) — Two of India’s largest private conglomerates have taken different decisions on their plans for separate power plant projects. Reliance Power will likely proceed with its proposed coal-fired power plant plant in the central state of Madhya Pradesh after securing more than US$1 billion in funding from three Chinese banks....
(EnergyAsia, August 1 2012, Wednesday) — Mongolian coal miner Sharyn Gol said it has been approved by the government to operate an open pit mine at its Shaazgait thermal coal deposit in Ulaanbaatar. The company said it met all government conditions after completing its feasibility study and environmental impact assessment report which has been accepted (more…)
(EnergyAasia, August 1 2012, Wednesday) — Kuwait recently began commercial operation of phase two of its Sabiya combined cycle plant in time to meet its peak electricity demands during the hot summer months. State-owned Sabiya, Kuwait’s largest power plant, operates on GE’s advanced gas turbine-generator technology to produce more than 2,000-megawatts (MW) of additional electricity (more…)
(EnergyAsia, August 1 2012, Wednesday) — Contract miner Thiess said it has been awarded a six-year contract worth A$2.3 billion to expand operations at Jellinbah Group’s Lake Vermont coal mine in Australia’s Queensland state. (US$1=A$1.07). Thiess has agreed to expand current operations with the aim of doubling production at the resource-rich Bowen Basin mine to (more…)
(EnergyAsia, August 1 2012, Wednesday) — The local municipal authorities have decided to move a coal processing plant in Vietnam’s Halong Bay city to a new location seven km away from the world heritage site. Describing it as an urgent decision, the municipal People’s Committee of Quang Ninh said the plant’s continued operations would endanger...