(EnergyAsia, March 24 2011, Thursday) — Saudi Arabia, Kuwait and the UAE have temporarily suspended crude oil exports to Japan less than a week after Asia’s second largest economy was struck by a massive earthquake and tsunami on March 11. Nuclear plants and ports in northeastern Japan have been badly damaged and could be closed for...

(EnergyAsia, March 24 2011, Thursday) — Higher start-up costs are eating into profit margins at more recent liquefied natural gas (LNG) projects in Australia, according to a recent report by Bernstein Research. Newer projects such as Pluto LNG and Gorgon LNG cost around US$3,000 a metric tonnes, more than three times the amount shelled out...

(EnergyAsia, March 23 2011, Wednesday) — Singapore’s offshore rig specialist Keppel FELS Ltd said it has landed a contract to build a US$210-million KFELS Super B Class jackup rig for Japan Drilling Co (JDC), with delivery scheduled for the first quarter of 2013. Keppel FELS said the new contract is the 12th for its mother...

(EnergyAsia, March 23 2011, Wednesday) — Singapore will allow its power companies to import more piped natural gas (PNG) from Indonesia and Malaysia to meet its growing electricity demand. The power companies can now use additional PNG to generate electricity until March 31 2013 when Singapore starts up its first liquefied natural gas (LNG) terminal,...

(EnergyAsia, March 23 2011, Wednesday) — A leading figure in China’s energy sector has called for the country to accelerate its push for energy conservation and efficiency as oil and gas prices head higher amid the latest geopolitical crises in the Middle East and North Africa. Zhang Guobao, former head of China’s National Energy Administration,...

(EnergyAsia, March 23 2011, Wednesday) — Two of the world’s largest oil companies, Saudi Aramco and China National Petroleum Corporation (CNPC), have announced plans to jointly invest in a 200,000 b/d refinery and downstream activities in China’s southern Yunnan province. This was Aramco’s second refinery deal with China this month to follow on its proposed...

(EnergyAsia, March 22 2011, Tuesday) — As political unrest in the Middle East and North Africa, and the nuclear crisis in Japan grabbed media attention, world oil supply rose to an all-time high of 89 million b/d in February, up 200,000 b/d from January, said the International Energy Agency (IEA). The increase came from non-OPEC...

(EnergyAsia, March 22 2011, Tuesday) — Singapore-based oil trading company Chemoil Energy Ltd said it has made changes to its senior management ranks. Mats Berglund joins Chemoil as the group’s chief financial officer and chief operating officer with effect from March 3 2011. Mr Berglund had held senior positions at Overseas Shipholding Group Inc, Stena...

(EnergyAsia, March 22 2011, Tuesday) –- Two of Iraq’s refineries, including its largest, were completely shut down for weeks following separate incidents in late February, contributing to the country’s fuel supply and power shortages. The 150,000 b/d Beiji refinery located 250km north of Baghdad was attacked by gunmen who also shot dead at least five...

(EnergyAsia, Feb 6 2011, Sunday) – South Africa’s Sasol Ltd is looking at opportunities in gas-to-fuel industry to take advantage of current low gas prices. The company has decided not to proceed with its plan to build a US$10 billion coal-to-fuels plant in Indonesia, which would have been an addition to its existing projects in...

(EnergyAsia, March 21 2011, Monday) — Brunei Shell Petroleum Sdn Bhd (BSP) said it has made a deepwater discovery in the Geronggong oil field off Brunei. The Royal Dutch Shell joint venture said the new field is located approximately 100 kilometres offshore where water depth is approximately 1,000 metres, the deepest water depth in which...

(EnergyAsia, March 21 2011, Monday) — China discovered new coal, gas and oil reserves in 2010, easing the depletion of energy resources caused by rising consumption to meet the needs of its rapidly growing economy. The Ministry of Land and Resources (MLR) said the country discovered more than 43 billion metric tons of coal, 1.15...

(EnergyAsia, March 21 2011, Monday) — China National Petroleum Corp (CNPC), the country’s largest oil and gas producer, has suspended production in Libya and evacuated all its employees from the crisis-hit North African country. CNPC has stopped all operations and sealed up its equipment in Libya, where it has been operating since 2002.The company said...

(EnergyAsia, March 21 2011, Monday) — Despite fighting the military might of the West and its allies, Libyan leader Mohamed Gaddafi has insisted the country’s oil fields and ports are still under his control. The long-time dictator of the North African country has defied international opinion and has promised to battle the rebels in the...

(EnergyAsia, March 18 2011, Friday) — By 2015, Asia is likely to be gobbling up around two-thirds of the world’s liquefied natural gas (LNG) supplies, up from 50%-55% at present, according to a Credit Suisse report. While the bulk of the increased demand will come from China and India, there will be new consumption from...

(EnergyAsia, March 18 2011, Friday) — The US Energy Information Administration (EIA) said it expects OPEC surplus capacity to fall from 4.4 million b/d in 2010 to 4.1 million b/d in 2011, followed by a further decline to 3.1 million b/d in 2012. It sees WTI crude averaging US$102 a barrel this year and US$105...