(EnergyAsia, June 2 2011, Thursday) — Australian energy firm Altona Energy Plc said it has signed a memorandum of understanding with Hong Kong- based private investment group Tongjiang International Energy Co Ltd to develop a strategic partnership in China to identify and evaluate coal and biomass gasification projects for the production of clean energy and...
(EnergyAsia, June 2 2011, Thursday) — Two oil traders working for companies controlled by Norwegian billionaire John Fredriksen are among the first to be charged by the US government which had warned that it would be cracking down on fraud and manipulation in the oil markets. Last month, the US Commodity Futures Trading Commission (CFTC)...
(EnergyAsia, June 2 2011, Thursday) — China’s apparent oil demand in April reached 38.36 million metric ton (mt) or an average of 9.37 million b/d, marking an 8.3% increase from April 2010 due to increased demand during the spring sowing season, said energy media Platts. In its analysis based on recent figures published by the...
(EnergyAsia, June 2 2011, Thursday) — Australia’s Cougar Energy Limited said it has opened an office in Beijing to expand its underground coal gasification (UCG) projects in China and Asia. Kevin Garner, a chartered engineer with over 25 years of industry experience, has been appointed general manager for Asia, with responsibility for technical and operational (more…)
(EnergyAsia, June 2 2011, Thursday) — Loyz Oil Pte Ltd, the oil and gas exploration and production (E&P) arm of Singapore’s Sim Siang Choon Limited, said it is raising S$12 million via a redeemable exchangeable preference share issue to fund its push into the upstream energy sector. (US$1=S$1.25). Under the subscription agreement with Loyz Oil and (more…)
(EnergyAsia, June 1 2011, Wednesday) — PaxOcean Engineering Zhoushan Co Ltd of Singapore has signed a letter of intent to build a 415WC jack-up mobile offshore unit for Texas, US-based Levingston Corporation, with an option for an additional similar vessel for an undisclosed contract value. Levingston said the MOU will be the world’s largest lift-boat (more…)
(EnergyAsia, June 1 2011, Wednesday) — The outlook for the Australian economy remains strong on account of rising exports of its natural resources and high prices for commodities, according to a report by Deloitte Access. Their combined impact will enable Australia offset the devastating impact of natural disasters that hit the country between late 2010...
(EnergyAsia, June 1 2011, Wednesday) — China’s top planning agency, the National Development and Reform Commission (NDRC), has warned that the country’s power crisis could spread and worsen. The agency has been keeping a tab of China’s worsening energy and food situation after being warned about the impact of coal supply shortages and rising prices...
(EnergyAsia, June 1 2011, Wednesday) — The full version of this story is available in the June 2011 edition of EnergyAsia Report. The world’s liquefied natural gas (LNG) and natural gas markets continue to recover faster than expected as surging demand in Asia and Europe help mop up the supply overhang of the previous two (more…)
(EnergyAsia, June 1 2011, Wednesday) — The full version of this story is available in the June 2011 edition of EnergyAsia Report. Last month’s arrest of its managing director on violent sex crime charges was not the only piece of sensational news coming out of the International Monetary Fund (IMF). Lost amid the tabloid headlines...
(EnergyAsia, June 1 2011, Wednesday) — US-based Post Carbon Institute has released a report examining the key assumptions about the role that natural gas can and should play in the energy future of the US. Founded in 2003, the Santa Rosa, California-based study group sees its role as leading society in the transition to a...
(EnergyAsia, June 1 2011, Wednesday) — An Australia business lobbyist said his country should be more cautious and rigorous in exercising due diligence in supporting China’s nuclear energy industry and supplying uranium to the world’s largest emissions polluter. At the recent Paydirt 2011 Uranium Conference in Adelaide, Greg Rudd, managing director of Asian business lobby...
(EnergyAsia, May 31 2011, Tuesday) — Japan has reverted to its 70-day oil stockpile requirement, according to the trade ministry, as refiners that reduced throughput after the March 11 earthquake are close to operating normally again. Following the earthquake that crippled nuclear power plants in the northeastern Fukushima area, the government allowed the national oil...
(EnergyAsia, May 31 2011, Tuesday) — ExxonMobil Corp has banned the new CEO of Australian upstream company Woodside from attending sensitive meetings involving any development of the giant Scarborough offshore gas field in Western Australia state. The US major deems Peter Coleman, a 27-year ExxonMobil veteran, to be a threat as he is in possession...
(EnergyAsia, May 31 2011, Tuesday) — Canada’s Industry Ministry said it needs more time to determine whether PetroChina’s planned C$5.4 billion acquisition of a 50% stake in a domestic natural gas venture complies with the country’s foreign investment law. (US$1=C$0.98). Christian Paradis is continuing the stance of his predecessor Tony Clement whose last statement before...
(EnergyAsia, May 31 2011, Tuesday) — France could to take the world’s most decisive and radical position in dealing with growing concerns about the health, safety and environmental impacts of extracting gas from shale through the controversial hydraulic fracturing or ‘fracking’ method. On June 1, the Senate will vote on passing into law a crucial...
(EnergyAsia, May 31 2011, Tuesday) — It smacks of desperation as the International Energy Agency (IEA) made an unprecedented direct appeal to the Middle East oil producing countries to boost output to help keep prices from rising. In the appeal, the IEA said further increases in crude prices would derail global economic recovery to the...
(EnergyAsia, May 31 2011, Tuesday) — The world liquefied natural gas (LNG) markets is likely to tighten further this year, with prices continuing to recover owing to the nuclear crisis in Japan following the March 11 earthquake, according to Barclays Capital. For the rest of the year, global LNG production may will still meet demand,...
(EnergyAsia, May 31 2011, Tuesday) — High oil prices could threaten the world’s already fragile economic recovery, said John Westwood, chairman of energy consultant Douglas-Westwood (DW). In a hard-hitting address at the recent Breakbulk Europe conference in Belgium’s Antwerp city, Mr Westwood cited his company’s research showing that since 1973 the US had entered recession (more…)
(EnergyAsia, May 30 2011, Monday) — ExxonMobil and Total of France are stepping up their promotion and marketing of lubricants to industrial and marine users in Asia. ExxonMobil showcased its Mobil SHC synthetic industrial lubricants as offering superior quality and reliability to the upstream oil and gas sector at an industry event in Indonesia on (more…)
(EnergyAsia, May 30 2011, Monday) — Australia’s Prime Minister Julia Gillard has officially launched construction works on the massive A$16-billion Santos Gladstone liquefied natural gas plant (LNG) on Curtis Island in Queensland state. (US$1=A$0.98). Witnessing the start of a new economic boom for the region at last Friday’s ceremony were the Queensland Premier Anna Bligh (more…)
(EnergyAsia, May 30 2011, Monday) — The US Energy Information Administration (EIA) has released its final version of Annual Energy Outlook 2011 (AEO2011) that includes 57 sensitivity cases based on different assumptions regarding market, policy and technology drivers, and their likely impact on energy production, consumption, technology, and market trends. In addition to considering alternative...
(EnergyAsia, May 30 2011, Monday) — In response to environmental and aboriginal concerns, Canada’s federal government has created a joint panel to review the proposed construction of an Alberta-British Columbia pipeline to export crude oil to Asia, said Ed Stelmach, Premier of Alberta state. The high-level review will conducted by the National Energy Board and...
(EnergyAsia, May 30 2011, Monday) — Australia’s booming economy is opening up opportunities for Asian investors to buy into their energy and resources sector. Last week, the Australian Securities Exchange (ASX) held events in Hong Kong (May 24) and Singapore (May 26) for investors to meet with the executives of some of Australia’s small and (more…)
(EnergyAsia, May 30 2011, Monday) — Kuwait Petroleum Corp (KPC) and China’s Sinopec will start building their long-delayed joint-venture oil refinery and petrochemical complex in southern China in the first quarter of next year. According to Kuwait’s official news agency, KUNA, the Chinese government gave its approval last March for the US$9 billion project to...