(EnergyAsia, April 4 2013, Thursday) — From the April 2013 issue of EnergyAsia Report: Depending on who’s telling the story, the world is either headed for a bleak conflict-ridden future of scarce, unaffordable oil and gas supplies, or it will be glutted for decades as major countries become energy superpowers by exploiting their newly-discovered huge...
(EnergyAsia, April 3 2013, Wednesday) — Under pressure from the Indian government, state-owned Coal India Limited (CIL) has agreed to accept production and supply targets for the current financial year ending March 31 2014 which it is not confident of achieving. The embattled company which accounts for more than 80% of India’s coal production has...
(EnergyAsia, April 3 2013, Wednesday) — The Chinese government has approved state-owned China National Petroleum Corp’s (CNPC) proposed venture with Royal Dutch Shell to jointly develop shale gas in Sichuan province, paving the way for the European major to invest US$1 billion in the country’s huge unconventional hydrocarbon reserves. According to their contract signed last...
(EnergyAsia, April 3 2013, Wednesday) — About 40 energy officials representing the governments of Japan and Vietnam held their first bilateral dialogue in Hanoi last month to dicsuss trade and policy issues facing the coal industry. The delegations were led respectively by Akira Yasui, the coal division director of Japan’s Ministry of Energy, Trade and (more…)
(EnergyAsia, April 3 2013, Wednesday) — China sharply boosted its domestic crude oil and natural gas reserves last year as a result of making new finds, said the country’s Ministry of Land and Resources. The ministry said China raised its crude oil reserves by 13% to 1.52 billion tonnes and natural gas by 33% to...
(EnergyAsia, April 2 2013, Tuesday) — Mechel OAO, a leading Russian mining and metals company listed on the New York Stock Exchange, last month celebrated the 10th anniversary of its founding. Mechel, which started with a few production assets including Chelyabinsk Metallurgical Plant and Southern Kuzbass Coal Company, now comprises some 30 producers of coal, (more…)
(EnergyAsia, April 2 2013, Tuesday) — The World Coal Association (WCA) has described a new report released by the board advising the International Energy Agency (IEA) as “an important step on the pathway to near-zero emissions coal”. Milton Catelin, WCA’s chief executive, said the report provides an important piece of advice to policy makers on (more…)
(EnergyAsia, April 2 2013, Tuesday) — Australia has displaced Qatar to become the largest supplier of liquefied natural gas (LNG) to Japan, the world’s biggest buyer, said Australian consultant EnergyQuest. As a result of fast-rising domestic production, Australia’s 15.9 million tonnes of exports of LNG to Japan exceeded Qatar’s 15.7 million tonnes, and Malaysia’s 14.6 (more…)
(EnergyAsia, April 2 2013, Tuesday) — China’s electricity consumption growth is expected to accelerate to 7.5% this year compared with 5.5% in 2012, reflecting a pick-up in economic expansion, said the China Electricity Council. In a recent update, the council predicts China will consume about 5,330 billion kWh in 2013 compared with 4,960 billion kWh...
(EnergyAsia, April 1 2013, Monday) — Indian Oil Corp’s (IOC) is expected to complete the construction of a new oil refinery in the eastern state of Odhisa, previously known as Orissa, by November, said the country’s Minister of State for Petroleum Panabaaka Lakshmi. In a written statement to Parliament, she said the completion of the...
(EnergyAsia, April 1 2013, Monday) — The Organisation of Petroleum Exporting Countries (OPEC) has kept its latest forecast for 2013 world oil demand almost unchanged at 89.67 million b/d compared with 89.68 million b/d previously. In its March report, the cartel expects world oil demand to rise by 840,000 b/d or 0.94%, about the same...
(EnergyAsia, April 1 2013, Monday) — Helped by expansion at its upstream operations in Pakistan and China, Hong Kong-listed United Energy Group said it raised production by 20% to 26,015 barrels/day of oil and gas equivalent (BOE) and reserves by 13.2% to 60.34 million BOE last year. It said gross profit rose 8.5% times from (more…)
(EnergyAsia, April 1 2013, Monday) — Singapore state investment firm Temasek Holdings said it recently paid 1.036 billion euros to raise its stake in Spain’s largest oil and gas company Repsol from 1.25% to 6.3%. (US$1=0.78 euro). Temasek paid 16.01 euro a share for the 64.7 million Repsol treasury shares. The Spanish firm now accounts...