(EnergyAsia, March 20 2013, Wednesday) — China has appointed the chairman of its largest oil and gas producer to lead and transform a powerful agency overseeing the country’s non-financial assets worth some 70 trillion yuan. (US$1=6.25 yuan). Jiang Jiemin, who has been credited with leading the expansion of China National Petroleum Corp (CNPC) and subsidiary (more…)
(EnergyAsia, March 20 2013, Wednesday) — China’s state oil and gas companies could be in line for a coveted role in helping Brazil develop its substantial deepwater oil and gas reserves. Brazil’s heavily indebted state energy firm, Petrobras, wants cash-rich China to help fund its plan to develop oil refineries to meet rising fuel demand...
(EnergyAsia, March 19 2013, Tuesday) — North America’s ethylene producers are expected to add nearly 11 million metric tons (MMT) of capacity through 2017 as a result of the growing supply of cheap feedstock provided by the new abundance of shale resources, said consultant IHS Chemical. As ethylene production in North America becomes more profitable...
(EnergyAsia, March 19 2013, Tuesday) — The upstream bandwagon calling for rising global oil and gas production is getting crowded as more optimists jump on board with forecasts that unconventional sources will play a bigger role in meeting the world’s energy demand. Research and consulting firm GlobalData has released a new report predicting a decade...
(EnergyAsia, March 19 2013, Tuesday) — More than 75% of 49 Asia Pacific countries are experiencing a serious lack of water security, with many already near crisis level, says a new study prepared jointly by the Asian Development Bank (ADB) and Asia-Pacific Water Forum (APWF). The study found that 37 of the developing countries in (more…)
(EnergyAsia, March 19 2013, Tuesday) — Russia should focus on exporting its future liquefied natural gas (LNG) production to Asia and leave Europe to existing supplier Gazprom, said the country’s Energy Minister Alexander Novak. Briefing reporters in Moscow last week, he cited the pull of Asia’s large and fast-growing markets along with the region’s willingness...
(EnergyAsia, March 18 2013, Monday) — Japan’s dependence on oil, gas and coal to generate electricity surged 21% last year as almost all its nuclear power capacity remained offline as a result of the March 2011 earthquake-tsunami tragedy, said the US Energy Information Administration (EIA). Tokyo Electric Power Company’s (TEPCO) giant Fukushima Daiichi nuclear power (more…)
(EnergyAsia, March 18 2013, Monday) — China’s growing stake in Venezuela’s oil and gas industry could be impacted by the recent death of former President Hugo Chavez, said the International Energy Agency (IEA). Under Chavez’s 14-year presidency, China became Venezuela’s second biggest trading partner after the US. As part of last year’s record US$250 billion...
(EnergyAsia, March 18 2013, Monday) — China National Petroleum Corp (CNPC) will pay US$4.21 billion for a 20% stake in a giant Mozambique gas field from Italian oil and gas company ENI, the two companies have announced. ENI will still hold a 50% stake in the field, described as one of the world’s largest discoveries (more…)
(EnergyAsia, March 18 2013, Monday) — One of modern Japan’s most iconic symbols is a mythical fire-breathing monster that emerges from the deep waters off its east coast to destroy the country and threaten the planet. In their quest for cheap abundant energy supplies, Japanese scientists and corporations are on course to unleash their own...
(EnergyAsia, March 15 2013, Friday) — Brent crude’s premium over US WTI will weaken over the course of 2013 but stay above US$10 a barrel, predicts US energy consultant ESAI. WTI will strengthen as “long-awaited pipeline and rail takeaway capacity in the US midcontinent promises to reduce crude oil inventories in Cushing at some point (more…)
(EnergyAsia, March 15 2013, Friday) — Faced with rising domestic demand and an uncertain outlook on production, Indonesia, the world’s third largest liquefied natural gas exporter, is planning to import the fuel later this decade. It has started work on building terminals to import LNG as well planning for new ones as it faces the...
(EnergyAsia, March 15 2013, Friday) — Unconventional hydrocarbon sources will play an increased role in meeting the world’s growing energy demand which is expected to reach 113 million b/d of oil equivalent (boed) by 2040, a 30% increase over 2010 levels, said Exxon Mobil in its latest annual outlook for the sector. With increased use (more…)
(EnergyAsia, March 15 2013, Friday) — Sri Lanka and the UAE’s Ras Al Khaimah have concluded separate agreements for aviation fuel storage and supplies to two of their airports. State Ceylon Petroleum Corp (CPC) has built an aviation fuel terminal to serve Sri Lanka’s second international airport in Mattala which opens on March 18. CPC...
(EnergyAsia, March 14 2013, Thursday) — US coal consumption will surge 5.8% to 941 million short tons (mmst) this year and rise by another 1.4% to 955 mmst in 2014, predicts the Energy Information Administration (EIA). The Department of Energy agency expects power companies to increase their use of coal to partly displace natural gas (more…)
(EnergyAsia, March 14 2013, Thursday) — India’s heavy reliance on coal to fuel 111 of its largest power plants is causing between 80,000 and 120,000 premature deaths and as many as 20 million asthma cases each year, said Greenpeace. In a new report researched by a former World Bank official, the environmental group blamed coal (more…)
(EnergyAsia, March 14 2013, Thursday) — US major ExxonMobil said it plans to invest a total of US$190 billion to raise production from 4.24 million b/d of oil equivalent in 2012 to 4.8 million boed in 2017. For this year, the major said production could fall by 1% this year as it cuts back on (more…)
(EnergyAsia, March 14 2013, Thursday) — Twenty years after losing its status as a net oil exporter, China is on course to displace the US as the world’s leading oil importer and addict. While China’s record average import of 5.77 million b/d of crude and oil products last year were nearly 1.8 million b/d below...
(EnergyAsia, March 13 2013, Wednesday) — Abu Dhabi plans to invest a total of RM39 billion to develop a financial centre and an oil storage facility in Malaysia, according to a Malaysian state-owned agency. (US$1=RM3.1). This is the second time in three years that the Malaysian government under Prime Minister Najib Abdul Razak, which faces...
(EnergyAsia, March 13 2013, Wednesday) — Embarrassed by its repeat failure to meet production targets, Coal India Limited (CIL) has proposed that the government consider measuring its performance against sales volume and distribution figures. India’s largest coal miner is expected to produce just over 450 million metric tonnes (MT) in the current financial year ending...
(EnergyAsia, March 13 2013, Wednesday) — A subsidiary of state-owned Coal India Ltd (CIL) plans to invest 90 billion rupees in a 1,600MW coal-fired power plant in the northeastern state of Odisha, previously named Orissa. (US$1=55 rupees). If approved by the Coal Ministry and the CIL board, the project would represent its first venture into...
(EnergyAsia, March 13 2013, Wednesday) — Australian freight operator Aurizon and India’s GVK Group have agreed to jointly develop rail and port infrastructure to open up the massive coal reserves in Queensland state’s Galilee Basin. GVK Coal Infrastructure (Singapore) Pte Ltd signed on behalf of the group whose Australian subsidiary, GVK Hancock, owns the Alpha, (more…)
(EnergyAsia, March 12 2013, Tuesday) — Australian freight operator Aurizon said it has secured a new long-term, performance-based contract with BM Alliance Coal Operations Pty Limited (BMA) and BHP Billiton Mitsui Coal Pty Limited (BMC) to haul up to 65 million tonnes per year (t/y) of coal from their combined mine operations in Queensland state. (more…)
(EnergyAsia, March 12 2013, Tuesday) — In a reminder to those challenging its crown with their unproven “tight” gas potential, Qatar said it has found a large natural gas field to add to its already massive 900 trillion cubic feet of proven reserves, the world’s third largest. The recent find of a reservoir containing 2.5...
(EnergyAsia, March 12 2013, Tuesday) — Two years after the earthquake-tsunami disaster that shut down its vital nuclear energy sector, Japan is forced into a worsening dilemma over whether to revive its dormant reactors for the sake of the energy-hobbled economy or bow to widespread public fears that the country cannot risk another meltdown as (more…)