INDIA: Coal reserves sufficient to meet 100 years of consumption, says minister

(EnergyAsia, December 12 2012, Wednesday) — India’s proven coal reserves of 118 billion tonnes are sufficient to meet over a century of the country’s domestic demand, said Minister of State for Coal Pratik Prakashbapu Patil. He provided this information in a written reply to questions raised in Parliament about the India’s declining coal self-sufficiency. He...

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SOUTH KOREA: K-Coal commits to equity participation in Australian ECT’s Coldry demo plant

(EnergyAsia, December 11 2012, Tuesday) — South Korea’s K-Coal Co Ltd has signed a letter of intent (LOI) to become a 5% equity partner in a Coldry commercial demonstration plant (CDP) to be established by Australia-listed Environmental Clean Technologies (ECT) Limited. In a letter of intent (LOI) signed by the two companies, ECT said K-Coal (more…)

US: EIA predicts 49 GW of coal-fired power capacity up for retirement by 2020

US electric power projections. Source: EIA (EnergyAsia, December 11 2012, Tuesday) — At least 49 GW of coal-fired power capacity in the US is at risk of being retired by 2020 if the current switch from coal to gas generation continues unabated, said the Energy Information Administration (EIA). In its recent Annual Energy Outlook 2012,...

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MALAYSIA: Petronas expects to start exporting LNG from Canadian terminal by 2018

(EnergyAsia, December 11 2012, Tuesday) — With its successful C$5.9-billion capture of Canada-based Progress Energy, Malaysian state oil firm Petronas expects to complete the development of a natural gas project culminating in the export of liquefied natural gas (LNG) from a terminal off Prince Rupert by 2018. The project, costing between C$9 and C$11 billion, (more…)

SOUTH KOREA: Daewoo secures US$1.3 billion contract to build coal-fired power plant in Kenya

(EnergyAsia, December 11 2012, Tuesday) — South Korean conglomerate Daewoo International has secured a contract with Kenya Electricity Generating Company (KenGen) to build a US$1.3 billion coal-fired power plant in the African country. Comprising two 300MW units, the plant will be one of the largest in East Africa and will be part of the Kenyan...

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ASIA: Canada approves CNOOC, Petronas takeover deals worth more than C$20 billion

(EnergyAsia, December 10 2012, Monday) — Against the tide of Canadian public opinion, the government has approved the separate purchases of two Calgary, Alberta-based upstream companies by China’s CNOOC Ltd and Malaysia’s Petronas for a total of more than C$20 billion. (US$1=C$0.99). After months of agonising debate, Prime Minister Stephen Harper surprised the market with (more…)

US: Coal use for electricity generation to rise 6% in 2013 after four years of decline, says EIA

(EnergyAsia, December 10 2012, Monday) — US coal consumption for power generation will break its four-year losing streak to rise by six percent in 2013, said the Energy Information Administration (EIA). For 2012, it will fall to 825 million short tons (mmst), thus staying below one billion short tons for a fourth consecutive year as...

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RUSSIA: Exxon, Rosneft to launch pilot drilling programme on Siberia tight oil reserves

(EnergyAsia, December 10 2012, Monday) — Russian state oil giant OAO Rosneft and US major Exxon Mobil Corp have signed an agreement to launch a pilot programme to assess tight oil reserves in Western Siberia with plans to begin drilling in 2013, the companies said in a joint statement. Upon completion of the programme, they (more…)

INDIA: Essar fully commissions 510MW coal-fired power plant at Vadinar

(EnergyAsia, December 10 2012, Monday) — Essar Power Ltd, a subsidiary of LSE-listed Essar Energy plc, said it has commissioned the second of the two-unit coal-fired power plant in Vadinar in India’s Gujarat state. With the start-up, the 510MW Vadinar P2 plant is now in full operation to provide power and process steam to Essar...

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CHINA: Central Asia and Russia seen as best suited to meet energy demand, work on joint projects

(EnergyAsia, December 7 2012, Friday) — China views Central Asia and Russia as best suited to meet its growing energy demand and to cooperate on joint projects. This view has crystallised over the course of the year as China is encountering a mix of growing resistance and difficult operating conditions in trying to expand its...

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CHINA: Water shortage could hold back domestic shale, coal development

(EnergyAsia, December 7 2012, Friday) — China may have the world’s largest shale gas and one of its largest coal reserves, but it may not yet be able to develop them into sufficiently vast amount of usable energy sources to meet its fast-rising demand. Recent analyses by the International Energy Agency (IEA) and HSBC have...

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US: Coal’s share in electricity generation market to slide further in 2013, predicts EIA

(EnergyAsia, December 7 2012, Friday) — Coal will remain the leading fuel for power generation in the US through 2040, but its share will continue to decline with the growing popularity of natural gas, nuclear and renewable energy sources, said the Energy Information Administration (EIA). In its latest Annual Energy Outlook report, the EIA predicts (more…)

CHINA: Government aims to double 2010 GDP by 2020, OECD predicts economy to exceed US by 2016

(EnergyAsia, December 7 2012, Friday) — The Chinese government has set its sight on doubling the country’s 2010 GDP of 39.8 trillion yuan to 80 trillion yuan by 2020. (US$1=6.22 yuan). The newly installed government of President Xi Jinping has accepted the goal announced in his predecessor’s final official speech at last month’s 18th National...

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SINGAPORE: Qatargas to provide first LNG cargo to new terminal opening next year

(EnergyAsia, December 6 2012, Thursday) —- Qatargas Operating Company Ltd said it will deliver the first cargo of liquefied natural gas (LNG) to Singapore’s new terminal due to open in the first quarter of next year. The cargo, to be delivered on either a Q-Flex or a Q-Max LNG vessel, will be used to commission (more…)

AUSTRALIA: India’s Adani says Carmichael mine holds up to 10 billion tonnes of coal reserves

(EnergyAsia, December 6 2012, Thursday) — Adani Group, an India-based global infrastructure company, said it has mapped out Australia’s largest mining exploration programme in Queensland state’s Carmichael mine which it claims holds up to 10 billion tonnes of coal reserves. As part of the programme, the company said it has deployed a record number of (more…)

SINGAPORE: Week of contrasting fortunes for rig builders SembCorp and Keppel

(EnergyAsia, December 6 2012, Thursday) — This was a week of contrasting fortunes for Singapore’s two world-leading oil rig builders. On Monday, Sembcorp Marine suffered one of its worst industrial accidents in recent years while Keppel Corp announced it had signed a US$1.2 billion contract to build two rigs. Sembcorp Marine, a subsidiary of Sembcorp (more…)

SINGAPORE: Growing demand for FPSO and FSO units helping to drive shipyard boom, says GBI Research

(EnergyAsia, December 6 2012, Thursday) — Traditional shipyards in Singapore are benefitting from the continuing boom in the offshore oil and gas business, with work orders flowing in for building floating production storage and offloading (FPSO) vessels and converting old tankers into floating storage and offloading (FSO), said research firm GBI Research. In a new...

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SINGAPORE: Offshore oil and gas event OSEA2012 sets record attendance with over 26,000 visitors

(EnergyAsia, December 5 2012, Wednesday) — A record of more than 26,700 people attended OSEA2012 in Singapore last week to make it Asia’s largest oil and gas business event. According to organiser Singapore Exhibition Services (SES), the participants from 75 countries and regions attended the event from November 27 to 30. As the premier sourcing (more…)

CHINA: US-based L&L completes acquisition of two new mines in Guizhou province

(EnergyAsia, December 5 2012, Wednesday) — L & L Energy Inc, a Seattle US-based company producing coal in China, said it has completed the acquisitions of another two mines located near its existing Weishe mine in Guizhou Province. Having completed due diligence processes, L&L said it has completed the US$37.1 million acquisition of the LuoZhou...

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MARKETS: EIA reports US monthly crude oil production at highest level in nearly 15 years

(EnergyAsia, December 5 2012, Wednesday) — Thanks to a surge in exploitation of unconventional reserves, US produced nearly 6.5 million b/d of crude oil and condensate in September for its highest monthly level since early 1998, said the Energy Information Administration (EIA). The last time US crude and condensate production reached 6.5 million b/d was (more…)

PEOPLE: Jim Rogers joins Geo Energy Resources board as non-executive director

(EnergyAsia, December 5 2012, Wednesday) — Renowned commodities investor Jim Rogers has joined Singapore Exchange-listed Geo Energy Resources as a non-executive director. This will be Mr Roger’s first board seat on a Singapore-listed company. The Singapore-based global investor, who recently turned 70, is also the chairman of Rogers Holdings and Beeland Interests Inc. Listed in (more…)

AUSTRALIA: Companies could face additional A$3.7 billion carbon cost, rising renewable energy credit prices, says RepuTex

(EnergyAsia, December 4 2012, Tuesday) — Australian companies are at risk of a double hit from increased costs for carbon and renewable energy credits, said consulting firm RepuTex. The carbon cost alone could amount to as much as A$3.7 billion over the next four years under the Federal price mechanism scheme if proposed policy changes (more…)

CHINA: New Times Energy expands LNG business in Guizhou Province

(EnergyAsia, December 4 2012, Tuesday) — Hong Kong-listed New Times Energy Corporation Limited said it has agreed to acquire an integrated liquefied natural gas (LNG) project in Zunyi City in China’s Guizhou province for a total of RMB35 million in cash and convertible bond. (US$1=RMB6.22). New Times Energy said it will pay RMB17 million in (more…)

PEOPLE: Australia’s Celsius Coal appoints ex-SouthGobi CEO Molyneux as executive chairman

(EnergyAsia, December 4 2012, Tuesday) — Australia’s Celsius Coal Limited said it has appointed Alexander Molyneux, the former CEO of Mongolia-focused coal miner SouthGobi Resources, as executive chairman from December 1. Celsius, which is focused on exploring and developing coking and thermal coal deposits in Kyrgyzstan, said it will benefit from the experience and the (more…)

AUSTRALIA: Banpu’s Centennial to lose one million tonnes/year of coal production with closure of two mines

(EnergyAsia, December 4 2012, Tuesday) — Centennial Coal, a fully owned subsidiary of Thailand’s largest coal company Banpu, said it would lose about one million metric tonnes of coal a year from a “temporary” closure of two of its coal mines in Australia’s New South Wales state next month for maintenance. The company, which was...

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