(EnergyAsia, October 19 2011, Wednesday) —Foster Wheeler AG said a subsidiary of its Global Power Group has been awarded a contract to design and supply four circulating fluidised-bed (CFB) steam generators for Essar Power Salaya Limited in India, the project’s owner and developer. Switzerland-based Foster Wheeler, which declined to reveal the contract’s value, said it...
(EnergyAsia, October 19 2011, Wednesday) — The Japanese government is revamping its oil stockpile system to ensure that fuel supplies reach stricken areas in the event of emergencies or natural disaster following lessons learnt from the March 11 earthquake and tsunami disaster. There were reports of prolonged and widespread gasoline and diesel shortages in many...
(EnergyAsia, October 19 2011, Wednesday) — State-owned PetroVietnam said it expects to start construction of the nation’s second oil refinery in Nghi Son sometime this quarter. Construction of the joint venture 200,800-b/d refinery, located , 215 km south of Hanoi, was to have started early this year, but was delayed by land clearance and preparation...
(EnergyAsia, October 19 2011, Wednesday) — In a long overdue move, the Energy Market Authority (EMA) has released Singapore’s first official publication on its energy statistics. The Singapore Energy Statistics (SES) is an annual publication containing the country’s key energy supply and consumption statistics, and prices, as well as trends in the electricity and gas (more…)
(EnergyAsia, October 18 2011, Tuesday) — China Aviation Oil (Singapore) Corporation Ltd (CAO), Asia’s largest physical jet fuel trader, has teamed up with Malaysia’s Centralised Terminals Sdn Bhd (CTSB) to construct, develop and operate a RM371-million oil products storage terminal at the Port of Tanjung Langsat in Malaysia’s Johor state. (US$1=RM3.1). CAO said it will acquire...
(EnergyAsia, October 18 2011, Tuesday) — Malaysia expects to raise its crude oil and natural gas production next year, bolstering its economic outlook amid growing concerns with the deteriorating global economic environment. In its latest Economic Report for 2011/12, the Finance Ministry said it expects the country’s crude oil production to rise 3.3% to 620,000...
(EnergyAsia, October 18 2011, Tuesday) — IEV, a provider of integrated offshore engineering and clean energy solutions, is targeting to raise S$8.7 million in a public share offering on the Singapore Exchange. (US$1=S$1.26). The company said its offer of 37 million at S$0.30 each will close on October 21. After expenses, it expects to raise (more…)
(EnergyAsia, October 18 2011, Tuesday) — Chromalloy, a leading producer of turbine engine repairs and advanced coatings, has appointed Carlo Luzzatto as President to lead its expansion in the aerospace and industrial gas turbine (IGT) markets. Mr Luzzatto, a seasoned energy industry business leader, joined from Ansaldo Energia, a division of the Italian conglomerate Finmeccanica (more…)
(EnergyAsia, October 17 2011, Monday) — Singapore’s ASL Marine Holdings Ltd said ts wholly-owned subsidiary ASL Shipyard Pte Ltd has secured contracts worth a total of S$267 million to build five vessels mostly for offshore oil and gas support work over the next three years. (US$1=S$1.28). ASL Marime will deliver two barges in 2012, two (more…)
(EnergyAsia, October 17 2011, Monday) — The following is an edited version of an analysis by the Securing America’s Future Energy (SAFE) study group. With fighting in Libya now near an end, some observers may say that since the Arab spring has sprung three new North African democracies (Egypt, Tunisia and Libya) upon the world, (more…)
(EnergyAsia, October 17 2011, Monday) — South Korea’s Hyundai Oilbank said it has started work on a 100-billion won commercial oil terminal with the capacity to store 300,000 kilolitres of oil products. (US$1=1,150 won). To be completed in late 2013, the terminal will be supported by port infrastructure and linked to the company’s refining hub...
(EnergyAsia, October17 2011, Monday) — Singapore’s planners say the economy faces “several years” of slow growth on account of strong headwinds created by the deteriorating global economy. With the major advanced economies unlikely to recover, the Ministries of Trade and Industry (MTI), and Finance (MOF) and the Monetary Authority of Singapore (MAS) are preparing the...
(EnergyAsia, October 17 2011, Monday) — India’s Reliance Industries Ltd (RIL) said the strong performance at its world’s largest Jamnagar refinery complex in Gujarat state helped boost its second quarter profit by 15.8% to 57.03 billion rupees over the same period last year. (US$1=49 rupees). For the July to September quarter, the 1.2-million b/d complex’s...
(EnergyAsia, October 14 2011, Friday) — Australia’s Blackgold International Holdings Limited said it has agreed to fully acquire Qijiang Changhong Coal Industry Co Ltd which owns the mining rights to the QiJiang ChangHong coal mine situated in Qijiang County in China’s Chongqing province. The proposed 98 million yuan acquisition was completed after Blackgold said it...
(EnergyAsia, October 14 2011, Friday) — Hong-Kong-listed Winsway Coking Coal Holdings said it and US coal trader and producer Peabody Energy Corp have signed a non-legally binding memorandum of understanding to establish a joint venture to market coal in China and the Asia Pacific region. As a step forward to enhancing their existing relationship, Winsway...
(EnergyAsia, October 14 2011, Friday) — Indonesian coal miner PT Adaro Energy said its subsidiary, PT Alam Tri Abadi (ATA), has agreed to acquire a 35% interest in a Sumatra Island coal mining services provider from PT Servo Infrastructure (SI) for 200 billion rupiah. (US$1=8,900 rupiah). Through its subsidiaries, SMS owns a dedicated haul road...
(EnergyAsia, October 14 2011, Friday) — The Singapore government will work towards enhancing the country’s energy efficiency, reducing waste and dealing with climate change issues as part of its long-term goal of creating a sustainable and clean society. The pledge, which described Singapore’s high quality environment as a source of competitive advantage, was made by (more…)
(EnergyAsia, October 14 2011, Friday) — Australia’s House of Representatives has narrowly approved the government’s clean energy legislative package including the controversial carbon tax to put a price on carbon emissions from next July. Against strong opposition from the powerful coal and mining lobby, the government of Prime Minister Julia Gillard secured the passage for (more…)
(EnergyAsia, October 13 2011, Thursday) — The Asian Development Bank (ADB) said it will provide US$97 million to help fund a new private sector hydroelectricity plant in Pakistan, which will ease power shortages and create thousands of new jobs. The bank said its board recently approved the loan for the 147-megawatt (MW) run-of-the-river Patrind hydropower (more…)
(EnergyAsia, October 13 2011, Thursday) — As a result of its rising global influence, China is gaining the upper hand over Russia and changing the nature of their strategic partnership, said Finland’s Stockholm International Peace Research Institute (SIPRI). In a new report, China’s Energy and Security Relations with Russia: Hopes, Frustrations and Uncertainties, the think (more…)
(EnergyAsia, October 13 2011, Thursday) — Australia’s Xstrata Coal said it has agreed to acquire the entire Lossan metallurgical coal deposit in Canada from Cline Mining Corporation for C$40 million. (US$1=C$1.05). The acquisition was completed yesterday. Located in the Peace River Coalfield of north eastern British Columbia province, Lossan is surrounded by a group of (more…)
(EnergyAsia, October 13 2011, Thursday) — Law firm Clifford Chance said it advised Sumisho Coal Australia on its recent investment in the A$2.5 billion Stage One of the privately owned and funded Wiggins Island Coal Export Terminal (WICET) in Queensland state. Sumisho Coal, a subsidiary of Japan’s Sumitomo Corporation, is involved in a number of (more…)
(EnergyAsia, October 13 2011, Thursday) — Japan’s Electric Power Development Co Ltd or J-Power, said it has agreed to acquire a 10% interest in an Australian coal mine being developed by Aston Resources Limited. As part of the agreement which is subject to conditions and regulatory approvals, Australia-listed Aston will guarantee long-term thermal coal supply...
(EnergyAsia, October 12 2011, Wednesday) — PT Atlas Resources Tbk, a small Indonesian coal producer, is aiming to raise as much as 1.49 trillion rupiah through an initial public offering to fund the expansion of its mines in Sumatra, Kalimantan and Papua. (US$1=9,000 rupiah). According to the underwriter Indo Premier Securities, Atlas plans to sell...
(EnergyAsia, October 12 2011, Wednesday) — Large parts of southern and central China, including many of its most industrialised regions, will face “severe” power shortages right through early next year, said officials from the country’s main energy agency and power companies. The National Energy Administration (NEA) delivered the grim news to residents and businesses that...