CHINA: Sinopec sets up coal-to-chemical subsidiary

(EnergyAsia, October 4 2012, Thursday) — State-owned China Petroleum Corp (Sinopec Group) has established Sinopec Great Wall Energy Chemical Co as a fully-owned coal-to-chemical subsidiary. Sinopec senior vice president Dai Houliang has been named chairman of the new Beijing-headquartered company with responsibility for developing and operating the group’s coal-to-chemical businesses. Sinopec is in the midst...

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RUSSIA: Mechel starts up seasonal washing plant at the elga coal deposit

(EnergyAsia, October 3 2012, Wednesday) — Mechel OAO, a leading Russian mining and metals company, said it has started up a seasonal washing plant to process coking coal mined at the Elga deposit. Equipped with the latest technology, the 2-billion-ruble plant has the capacity to produce up to three million tonnes of coking coal concentrate (more…)

SINGAPORE: Atlantic Navigation is 45th marine and offshore services company listed on Catalist exchange

(EnergyAsia, October 3 2012, Wednesday) — Offshore and marine services provider Atlantic Navigation Holdings has listed on Singapore’s Catalist exchange under the stock code of “5UL” with a market value of just under S$165 million (US$1=S$1.23). The company was acquired by Fastube Limited for S$146 million through a shares issue, and renamed Atlantic Navigation, said (more…)

INDIA: Russia’s Gazprom seal 20-year deal to supply LNG to GAIL at oil-linked pricing formula

(EnergyAsia, October 3 2012, Wednesday) — Gazprom Marketing and Trading (GM&T), the fully-owned subsidiary of the Russian gas giant, has signed an agreement for the annual supply of 2.5 million tonnes of liquefied natural gas (LNG) to India’s GAIL for 20 years, the companies announced. The deal follows through on the Basic Framework Agreement (BFA) (more…)

AUSTRALIA: Canada more attractive as mining destination, says Baker & Mckenzie survey

(EnergyAsia, October 3 2012, Wednesday) — Canada is the world’s most attractive destination for mining investments, easily beating Australia which is increasingly burdened by fiscal, regulatory, tax and royalty uncertainties, according to an international survey conducted by law firm Baker & Mckenzie. The firm interviewed more than 300 senior industry leaders in Australia, Canada, Brazil,...

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CHINA: State investment in oil sector welcomed in Australia, frightens Canada

(EnergyAsia, October 2 2012, Tuesday) — Australia and Canada are providing an interesting case study in their contrasting responses to the influx of China’s massive investments in their oil and gas sectors. Similar in their profiles as mid-power First World countries blessed with large reserves of natural resources and relatively small populations, they both need...

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INDONESIA: Coal association slashed 2012 output as industry struggles amid falling demand and prices

(EnergyAsia, October 2 2012, Tuesday) — Indonesia will produce 340 to 350 million tonnes of coal this year instead of an earlier forecast for 360 million tonnes, said the country’s coal mining association as it acknowledged the impact of the global economic slowdown on the industry’s performance. Indonesian miners have begun reducing production in response...

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SHIPPING: Crew costs again driving up shipping sector’s operating costs, says consultant Moore Stephens

(EnergyAsia, October 2 2012, Tuesday) — Crew costs are once again the main factor driving up the operating expenses of shipping companies, said international accountant and shipping consultant Moore Stephens. In its latest survey covering more than 2,700 vessels, the firm said the industry’s total annual operating costs rose by an average 2.1% last year (more…)

MARKETS: IEA, EIA expect 2013 world oil demand to exceed 90 million b/d; OPEC sees slower growth

(EnergyAsia, October 2 2012, Tuesday) —- The world’s three leading energy agencies have issued slightly different outlooks on global oil demand for this and next year. The International Energy Agency, which represents the world’s leading oil consuming nations, holds the most bullish outlook for global demand to reach 89.8 million b/d in 2012 and 90.6...

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MARKETS: OPEC maintains forecasts for world oil demand growth for 2012 and 2013

(EnergyAsia, October 1 2012, Monday) — For the third consecutive month, the Organisation of Petroleum Exporting Countries (OPEC) has maintained its forecasts for global oil demand to grow by 900,000 b/d to 88.74 million b/d in 2012 and by 800,000 b/d to 89.55 million b/d next year. The cartel’s outlook contrasts that of the US (more…)

ENVIRONMENT: Siemens puts out global call for best ideas in urban solutions

 (EnergyAsia, October 1 2012, Monday) — Germany’s engineering and infrastructure giant Siemens has launched a global competition, “Empower people. Award” to reward the best solutions to urban challenges in cities. The company is encouraging people across the world to provide innovative and sustainable solutions to address the pressing problems faced by developing countries. The competition, (more…)

ASIA: Canada faces uncertain energy future without improved market access, says ex-Cabinet Minister

 (EnergyAsia, October 1 2012, Monday) — Canada must look beyond the US to develop new markets in Asia, in particular China, if it is to realise the potential of its oil and gas resources and play a bigger role on the global markets, said a former Cabinet Minister from the ruling Conservative government. Jim Prentice, (more…)

MARKETS: EIA raised forecast for 2013 world oil demand to grow by 1 million b/d to 90.1 million b/d

(EnergyAsia, October 1 2012, Monday) — Buoyed by demand in the emerging economies, global oil consumption will reach a record 90.1 million b/d next year, up by slightly over a million b/d from 2012, said the US Energy Information Administration (EIA) in its September short-term energy outlook. This latest forecast represents an upward revision from...

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