(EnergyAsia, June 18 2013, Tuesday) — Oil Spill Response Limited (OSRL), a global cooperative funded by more than 160 energy companies to combat oil spills and pollution at sea, last week officially open an new expanded base in Singapore with enhanced response capabilities. Equipped with well capping and large specialised equipment, dispersant, a training centre (more…)
MARKETS: Fossil fuels gained global market share last year at the expense of nuclear energy, said BP
(EnergyAsia, June 18 2013, Tuesday) — Fossil fuels gained market share in the global energy mix last year largely as a result of the continuing sharp decline in nuclear energy production and consumption, said BP. Global nuclear energy output plunged by 6.9%, the largest decline on record for a second consecutive year, according to the...
RUSSIA: ExxonMobil, Rosneft to establish Arctic research centre, share technology for global upstream ventures
(EnergyAsia, June 17 2013, Monday) — US major ExxonMobil and Russia’s Rosneft, the largest energy companies in the two countries, said they have agreed to jointly establish an Arctic Research Centre (ARC) and share technology to support their joint ventures in developing hydrocarbon reserves around the world. Rosneft will hold a two-third share in ARC (more…)
ANGOLA: LNG plant starts up with first export cargo heading to Brazil
(EnergyAsia, June 17 2013, Monday) — Angola has exported its first cargo of liquefied natural gas (LNG) with the start-up of its long-delayed US$10 billion plant near the northern city of Soyo along the Congo River, said owner and operator Angola LNG Ltd. Sonangol, the West African nation’s state oil and gas company which owns (more…)
MARKETS: WTI at nine-month high as US, Iran and Russia threaten to increase role in Syria conflict
(EnergyAsia, June 17 2013, Monday) — US WTI crude oil futures surged to a nine-month high of US$98.25 while Brent rose to a two-month high of US$106.64 last Friday amid signs that the civil war in Syria are escalating with greater involvement of outside forces. As President Assad continued to gain the upper hand against...
MARKETS: BP says coal was fastest growing fuel market last year
(EnergyAsia, June 14 2013, Friday) — Coal made a big comeback last year as its share in the global energy mix reached 29.9%, its highest level since 1970, said BP. Reflecting the world’s declining concern with global warming, its consumption of coal, the leading source of greenhouse gases, grew by 2.5%, ahead of oil’s 0.9% (more…)
MARKETS: World oil, shale and NGL output at record 86.15 million b/d in 2012, but prices and demand also at new high, says BP
(EnergyAsia, June 14 2013, Friday) — World production of oil, shale, oilsands and natural gas liquids (NGL) collectively rose 2.2% to a record 86.152 million b/d last year, with the US responsible for nearly half that increase, said BP. But average oil prices were also at an all-time high as demand continued to climb to (more…)
MONGOLIA: Coal exports to China resume as politicians look to mend bilateral ties
(EnergyAsia, June 14 2013, Friday) — Mongolia has resumed exporting coal to China as politicians on both sides work to repair bilateral ties that started fraying when a Chinese state-owned firm tried to buy into a miner with large Mongolian coal deposits last year. Officials confirm that Erdenes Tavan Tolgoi (ETT), Mongolia’s largest state-owned coal...
INDONESIA: Gunvor and Oiltanking to build oil storage terminal on Karimun Island near Singapore
(EnergyAsia, June 13 2013, Thursday) — Switzerland-based energy trader Gunvor Group and Germany’s Oiltanking GmbH have announced they will jointly build a new oil storage terminal on the Indonesian island of Karimun by mid-2015. Oiltanking Karimun, located more than 60 km west of Asia’s main oil trading hub in Singapore, will have an initial storage (more…)
US: Shale boom helping gas-to-liquids and lubricant base stock manufacturing, says Kline & Company
(EnergyAsia, June 13 2013, Thursday) — The boom in shale gas development and supply in North America has sparked a surge in gas use as a transportation fuel, gas-to-liquids production and lubricant base stock manufacturing, said New Jersey-based consultant Kline & Company. With shale gas production forecast to grow to nearly 13 trillion cubic fee (more…)
SOUTH KOREA: GS Energy in talks with Petrobras to build oil refinery in Brazil
(EnergyAsia, June 13 2013, Thursday) — Brazil’s main energy company, Petroleo Brasileiro SA or Petrobras, said it has agreed with South Korea’s GS Holdings Corp to look into jointly building a 300,000 b/d oil refinery in the Latin American country. Petrobras said it has signed a letter of intent with GS Energy Corp, a subsidiary...
CHINA: Coal demand to remain strong through 2015, say analysts
(EnergyAsia, June 12 2013, Tuesday) — US and Chinese analysts expect China’s coal demand to remain strong through 2015 despite recent reports of slowing power demand in response to weaker economic growth. The new government of President Xi Jinping has also announced that it plans to cap the nation’s coal demand to between four and...
AUSTRALIA: South East Asia Resources Ltd to acquire Tasmanian coal project
(EnergyAsia, June 12 2013, Wednesday) — Australia-listed South East Asia Resources Ltd said its wholly-owned subsidiary, South East Asia Energy Resources (Australia) Pty Ltd (SEA), has exercised its option to acquire Tiger Coal Pty Ltd and Energy Investments Pty Ltd which owns three coal exploration licences on Tasmania island. SEA has established a wholly owned (more…)
AUSTRALIA: Altona says CNOOC to fund multi-billion dollar project to convert coal to liquid fuels
(EnergyAsia, June 12 2013, Wednesday) — China National Offshore Oil Corp (CNOOC) will provide “significant funding” to help develop a multi-billion dollar plant in South Australia state to convert coal to liquid fuels, said project developer and partner Altona Energy. The London AIM-listed firm said the state government has agreed to extend its exploration licences...
AUSTRALIA: BHP Billiton sells off stakes in Browse LNG projects to PetroChina
(EnergyAsia, June 11 2013, Tuesday) — Australia’s BHP Billiton said it has completed the sale of its shareholdings in two US$45 billion offshore liquefied natural gas (LNG) ventures in Western Australia to a PetroChina subsidiary. (US$1=A$1.05). Australia’s largest mining firm owned a 8.33% interest in the East Browse project and 20% stake in the West (more…)
ASIA: Germany’s BASF to invest €10 billion, create 9,000 jobs and achieve €25 billion in sales between 2013 and 2020
(EnergyAsia, June 11 2013, Tuesday) — Germany’s BASF has unveiled its “smart growth” strategy for the Asia Pacific region with plans to invest 10-billion euro, create 9,000 new jobs, achieve 25-billion-euro in sales and realise one billion euro in efficiency measures over the next seven years. (US$1=0.75 euro). The global chemical giant said it is (more…)
VIETNAM: Tata Power wins 100 billion rupee contract to build 1,200MW coal-fired power plant
(EnergyAsia, June 11 2013, Tuesday) — India’s Tata Power Company Ltd said it has secured a 100-billion-rupee contract to build a 1,200MW coal-fired supercritical power plant in Vietnam. (US$1=55 rupees). The company said it was awarded the contract by the Vietnamese government to build the Long Phu 2 project comprising two 660-MW units which is...
AUSTRALIA: GVK Hancock picks Thiess as main contractor for A$10-billion Alpha coal project
(EnergyAsia, June 10 2013, Monday) — India’s GVK Group has selected Australia’s Thiess as the main contractor to develop and operate its A$10 billion Alpha thermal coal project in the Galilee basin in Queensland state. (US$1=A$0.96). Subsidiary GVK Hancock Coal has set out a plan to develop the giant Alpha deposit over a 10-year period, (more…)
COMPANY: Gunvor Singapore signs US$850 million revolving credit facility
(EnergyAsia, June 10 2013, Monday) — Energy trader Gunvor Group said wholly owned subsidiary Gunvor Singapore Pte Ltd has secured US$850 million in credit from a syndicate of 24 international financial institutions. The revolving credit facility will be used to refinance another facility obtained last year as well as pay for general corporate and working (more…)
AUSTRALIA: India’s Lanco aims to raise Griffin Coal production capacity by four times
(EnergyAsia, June 10 2013, Monday) — Indian industrial group Lanco Infratech is preparing to invest A$1 billion to expand the production capacity of its Griffin Coal subsidiary in Australia by four times to 16 million tonnes. (US$1=A$0.96). Lanco, which acquired Griffin Coal for about A$730 million in March 2011, plans to export the additional output...
MYANMAR: ADB says energy sector critical to nation’s transformation
(EnergyAsia, June 7 2013, Friday) — Myanmar’s abundant energy resources will play a key role in the nation’s transformation and re-integration into the global economy, said the Asian Development Bank (ADB). In a just released report, “The New Energy Architecture: Myanmar”, the bank said Myanmar could emerge as the next Southeast Asian economic frontier and (more…)
SINGAPORE: German chemical giant Lanxess opens 400-million-euro butyl rubber plant
(EnergyAsia, June 7 2013, Friday) — Germany’s Lanxess has officially opened its 400-million-euro plant on Singapore’s Jurong Island to produce premium halobutyl rubber and regular butyl rubber for use in a wide range of products including tyres, pharmaceuticals, protective clothing, shoe soles, adhesives and chewing gum. (US$1=0.76 euro). The Leverkusen-based chemical giant, which has made (more…)
MONGOLIA: Prophecy Coal’s subsidiaries sign 25-year supply agreement to fuel power plant
(EnergyAsia, June 7 2013, Friday) — Chandgana Coal LLC has agreed to supply coal to Prophecy Power Generation (PPG) LLC for a 600MW power plant being developed about two km from the Chandgana mine in Mongolia, said Prophecy Coal, which owns both companies. Canada-based Prophecy Coal, which is developing energy projects in Mongolia, said Chandgana...
RUSSIA: Mechel signs new agreement to supply coking coal to China’s Shasteel Group
(EnergyAsia, June 6 2013, Thursday) — Mechel OAO, a leading Russian mining and metals company, said the trading subsidiary of its mining division has signed a new agreement to supply coking coal to China’s Shasteel Group. Mechel Carbon (Singapore) will supply Shasteel Group with 40,000 to 80,000 tonnes of coking coal a month from ports (more…)
CHINA: Annual thermal coal demand to double to almost seven billion tonnes by 2030, says Wood Mackenzie
(EnergyAsia, June 6 2013, Thursday) — China’s coal appetite will not let up, leading to demand to double to nearly seven billion tonnes per year by 2030, said consultant Wood Mackenzie. In its report titled “China: The Illusion of Peak Coal”, the consultant said that despite official efforts to limit coal consumption and increase the (more…)