INDONESIA: BP pushes ahead with US$12 billion plan to add third train at Tangguh LNG plant

(EnergyAsia, January 23 2013, Wednesday) — While US majors ExxonMobil and Chevron are undergoing a bad patch with the Indonesian govervnment, BP has found strong official backing for one of its most important projects to expand a liquefied natural gas project in Tangguh in West Papua province. The UK major is expected to make a...

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CHINA: CNOOC may test technology to explore Canada’s oil sands

(EnergyAsia, January 22 2013, Tuesday) — Canada’s Sunshine Oil Sands Ltd, which is listed on the stock exchanges of Hong Kong and Toronto, has signed a one-year agreement to share oil sands exploration technology developed by the oilfields division of China’s CNOOC Ltd. Calgary-based Sunshine said it has signed an agreement with China Oilfield Services (more…)

NEW ZEALAND: Air NZ expressed concern over security of fuel supply from Marsden Point refinery

(EnergyAsia, January 22 2013, Tuesday) — New Zealand’s economy could be brought to its knees if its sole oil refinery was hit by an earthquake, fire or tsunami, warned the country’s air carrier in its submission to the government’s review of energy security. In its report to the Ministry of Business, Innovation and Employment, Air...

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AUSTRALIA: Caltex starts up bitumen import terminal to supply New South Wales state

(EnergyAsia, January 22 2013, Tuesday) — Caltex Australia said it has begun supplying bitumen from a new purpose-built import terminal at Port Botany in Sydney following the closure of operations at the nearby Kurnell refinery. The new terminal, designed, constructed and commissioned in less than 14 months by Terminals Australia Pty Ltd, provides 24,000 tonnes (more…)

INDONESIA: Regulator says 2013 production may fall below target

(EnergyAsia, January 22 2013, Tuesday) — Amid declining investor confidence, Indonesia may not achieve its modest crude oil production target of 900,000 b/d for 2013, and certainly not the one-million b/d goal for 2014, said the head of upstream regulator SKMigas. The government, which is currently embroiled in bitter disputes with ExxonMobil and Chevron, two...

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ALGERIA: 55 killed, others missing at the end of hostage crisis in BP gas plant

(EnergyAsia, January 21 2013, Monday) — A total of 55 people including 32 workers have been reported killed over the course of a four-day hostage crisis in Algeria that ended when security forces battled terrorists who had seized a BP-operated natural gas plant at Ain Amenas in the eastern central part of the country. On (more…)

MARKETS: BP expects oil demand growth to lag behind coal and natural gas to 2030

(EnergyAsia, January 21 2013, Monday) — Oil will lose its dominant position as the world’s primary fuel by 2030 as natural gas and coal gain market share to share equal billing, according to BP’s latest energy forecast to 2030. The UK major expects global demand for oil will grow by just 0.8% p.a. between 2011 (more…)

CHINA: CNOOC, Chevron sign production-sharing contracts

(EnergyAsia, January 21 2013, Monday) — US major Chevron Corp said it has signed agreements for two production sharing contracts with Chinese offshore oil company CNOOC Ltd to explore two blocks in the South China Sea. Their joint-venture company, Chevron China Energy Co, will have full contract ownership of blocks 15/10 and 15/28 in the (more…)

RUSSIA: Gazprom, Novatek JV targets LNG export to Asia from Yamal peninsula

(EnergyAsia, January 21 2013, Monday) — With an eye on the Asian markets, two leading Russian natural gas producers have agreed to form a joint venture to produce liquefied natural gas (LNG) in the hydrocarbon-rich remote northern Yamal peninsula. State-owned Gazprom and Novatek, Russia’s leading independent gas producer, will invest in facilities to begin producing...

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CHINA: Rolls-Royce awarded US$75 million contract to strengthen role in energy infrastructure

(EnergyAsia, January 18 2013, Friday) — Rolls-Royce, the UK-based global power systems company, said it has secured a US$75million contract to supply PetroChina with equipment and related services to power the flow of natural gas through a tributary in the country’s West-East Pipeline Project (EPP). Rolls-Royce will supply six of its RB211-driven pipeline compressor units (more…)

MARKETS: World increasingly dependent on unconventional oil and gas supplies, says BP

(EnergyAsia, January 18 2013, Friday) — The world is becoming increasingly dependent on unconventional sources of oil and gas to meet its energy needs, said BP in its latest supply-demand outlook to 2030. The recent surge in unconventional supplies has had the biggest impact in the US where the application of technology has enabled the...

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MARKETS: EIA expects world oil supply to exceed demand by 25,000 b/d in 2014

(EnergyAsia, January 18 2013, Friday) — After years of drawing on inventory, the world will produce more crude oil than it consumes next year, said the US Energy Information Administration (EIA). In its January short-term energy outlook report, the agency said it expects world production to rise more than 3% over 2012’s 88.99 million b/d (more…)

INDONESIA: Government, US majors on collision course

(EnergyAsia, January 18 2013, Friday) — US majors ExxonMobil and Chevron are threatening to reduce investments in Indonesia amid souring relations with the government of President Susilo Bambang Yudhoyono. Jakarta wants ExxonMobil to replace its country president, Richard J. Owen, and has accused Chevron of mismanaging the re-mediation of an ageing oilfield in Riau province....

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CHINA: ADB to help expand “green” bus fleet in cities

(EnergyAsia, January 17 2013, Thursday) — With financial support from the the Asian Development Bank (ADB), China will be deploying at least 5,000 new “green” buses in its major cities by 2018 to help reduce the country’s greenhouse gas (GHG) emissions. The bank said it has allocated US$275 million for up to five top-tier financial (more…)

RUSSIA: Crude and condensate output at new high of 10.4 million b/d

(EnergyAsia, January 17 2013, Thursday) — Russia said its crude and condensate output surged to a new high of 10.4 million b/d last year, a figure not seen since the days of the Soviet Union which collapsed in 1991. Russia, the world’s largest oil producer ahead of Saudi Arabia, remains dependent on oil and gas...

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ASIA: Italy’s Eni secures agreements to supply LNG to South Korea and Japan

(EnergyAsia, January 17 2013, Thursday) — Italian energy company Eni said it has secured a joint agreement to supply a total of 1.7 million tons of liquefied natural gas (LNG) in 28 cargoes to two customers in Japan and South Korea. Eni said the exact volume to be shipped separately to Korea Gas Corp (Kogas) (more…)

SINGAPORE: 2012 bunker sales down 1.2% from 2011’s record level

(EnergyAsia, January 17 2013, Thursday) — Singapore’s bunker sales volume fell 1.2% to 42.7 million tonnes last year as the maritime sector continued to face “challenging” conditions brought on by a prolonged economic recession in the US, Europe and Japan, said the Maritime and Port Authority of Singapore (MPA). The decline ended several consecutive years...

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US: LNG exports to hasten shift from oil-linked pricing in Asia, says Deloitte

(EnergyAsia, January 16 2013, Wednesday) — Liquefied natural gas (LNG) exports from the US will hasten the global market’s shift away from oil-linked pricing to favour buyers in Asia who are waging a campaign against current suppliers to reduce the fuel’s cost. According to a recent study by consultant Deloitte, the US could export around...

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INDIA: GAIL commissions five-million-tonne Dabhol LNG terminal

(EnergyAsia, January 16 2013, Wednesday) — GAIL, India’s state gas giant, has started up the country’s third terminal to import liquefied natural gas (LNG) at Ratnagiri in the western state of Maharashtra. Located around 340km south of Mumbai, the Dabhol LNG terminal will be the conduit for imported natural gas to provide fuel for power (more…)

CHINA: West failing to take advantage of economic opportunities, says HSBC

(EnergyAsia, January 16 2013, Wednesday) — Mired in its worst economic downturn since the Great Depression of 1929, the West strangely has failed to take advantage of the opportunities presented by the rapid growth in the emerging economies led by China. In its latest Emerging Markets Index report, HSBC chief economist Stephen King observed that (more…)

INDIA: Five arrested following deadly Indian Oil Corp oil storage fire in Gujarat

(EnergyAsia, January 16 2013, Wednesday) — Police have arrested five people, including three executives of state-owned Indian Oil Corporation (IOC), following last week’s fire that killed at least three workers at the company’s oil storage depot in the north-western state of Gujarat. Another two workers are still unaccounted for after the fire destroyed a tank...

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AUSTRALIA: Reputex predicts carbon trade will shrink without floor price

(EnergyAsia, January 15 2013, Tuesday) — Without a national carbon price floor, companies would be reluctant to invest in Australia’s domestic carbon offset mechanism known as the Carbon Farming Initiative (CFI), predicts carbon consulting firm RepuTex. Even with a floor price in place, the CFI is expected to deliver at most only five million tonnes (more…)

RUSSIA: Mechel acquires controlling stake in Vanino port to expand coal exports to Asia

(EnergyAsia, January 15 2013, Tuesday) — Mechel, a leading Russian mining and metals company, said it has completed the acquisition of a 55% stake in a Pacific port that will enable it to expand coal exports to the Asian markets. Mechel said the Russian government approved the offer by logistics subsidiary Mecheltrans to acquire the (more…)

AUSTRALIA: Carbon emissions to remain stable this year, thanks to government’s pricing scheme, says RepuTex

(EnergyAsia, January 15 2013, Tuesday) — Australia’s greenhouse gas emissions will grow at a slower rate this year, rising by just 0.4% from 2012 levels on the back of reduced output from the metals sector and an increase in the nation’s renewable power generation, said carbon consulting firm RepuTex. The company expects Australia’s emissions to...

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INDIA: Tata starts up fourth 800 MW unit at coal-fired Mundra power plant

(EnergyAsia, January 14 2013, Monday) — Tata Power, India’s largest integrated power utility, said it has started up the fourth 800 MW unit at its coal-fired power plant in Mundra in Gujarat state. Using the energy efficient supercritical boiler technology, the plant is owned and operated by wholly owned subsidiary Coastal Gujarat Power Limited (CGPL). (more…)