(EnergyAsia, January 21 2011, Friday) -–- The Chinese government has approved the construction of the second phase of the Shihua crude oil terminal project at the Ningbo-Zhoushan Port. Located on Daxie Island in Ningbo, the RMB190 million project will be China’s largest crude oil terminal with an annual throughput capacity of 18 million tonnes. (US$1=CNY6.6)....

(EnergyAsia, January 21 2011, Friday) — State-owned China National Petroleum Corp (CNPC) said it has completed construction of a crude oil storage terminal in northern China and has started work on a strategic petroleum reserve base in the south. The company said the one-million-cubic-metre commercial crude storage facility in Dagang city, located south of Tianjin...

(EnergyAsia, January 20 2011, Thursday) — The Organisation of Petroleum Exporting Countries (OPEC) expects world oil demand to grow by 1.2 million in 2011, down from last year’s 1.6 million b/d increase. The cartel said last year’s stronger increase came off the “low base” of 2009, and was further helped by the global economic recovery...

(EnergyAsia, January 20 2010, Thursday) — After years of delay, Indonesia’s state-owned Pertamina and US major Exxon Mobil have agreed to jointly develop an oil and gas block off the coast of Borneo Island. The Natuna D-Alpha oil and gas block is estimated to hold 200 trillion cubic feet of gas reserves, although only 45...

(EnergyAsia, January 20 2011, Thursday) — Foreign investors are interested to invest in Indonesia’s coal mining firms, with Australia’s Kangaroo Resources and Coal India Limited (CIL) among the latest to express their interest. Kangaroo Resources has forged a deal to buy 99% of the Pakar thermal coal project in Indonesia’s East Kalimantan from PT Bayan...

(EnergyAsia, January 20 2011, Thursday) — PetroChina Co Ltd is selling its entire stake in a storage company to its parent, China National Petroleum Corp (CNPC), for RMB2.11 billion in line with its restructuring strategy.(US$1=RMB6.6). PetroChina said it will use the proceeds from the sale of its holdings in PetroChina Guangxi Oil Storage Ltd to...

(EnergyAsia, Jan 16 2011, Sunday) – Switzerland’s Mercuria and Dubai’s  Emirates National Oil Company (ENOC) have joined other international companies seeking to expand their investments in oil storage terminals in China. Mercuria’s proposed terminal in Qingdao will be its second fuel storage investment in China after the success of a smaller one, also located on...

(EnergyAsia, January 20 2011, Wednesday) — Three of Canada’s western provinces have formally teamed up to develop a joint strategy and promote exports of energy and other natural resources to Asia. Following the success of their Premiers in leading business delegations to Asia last year, the governments of Alberta, British Columbia, and Saskatchewan, signed the...

(EnergyAsia, January 19 2011, Wednesday) — Liquefied natural gas prices are likely to be supported by a consecutive-year rise in Asian imports and increased European demand for 2011, according to a Singapore-based consulting firm. As a result, FACTS Global Energy expects a “significant” amount of activity in the spot LNG market this year. Its analysts...

(EnergyAsia, January 19 2011, Wednesday) — Representatives from the Panama Canal Authority (PCA) and the Suez Canal Authority (SCA) will speak at a US conference focusing on infrastructure expansions, tolls and capabilities in to assist the world liquefied natural gas (LNG) trade The Houston, Texas conference on February 17 is organised by consultant Zeus Development...

(EnergyAsia, January 19 2011, Wednesday) — Dubai Electricity and Water Authority (DEWA) said it has received nine bids for its tender calling for a technical and economic study for the application of clean coal-based electricity generation for Dubai. The bids came from clean coal technology companies in response to a tender announced last November as...

(EnergyAsia, January 19 2011, Wednesday) — Technics Oil and Gas Ltd, a Singapore-based engineering service provider for the oil and gas industry, said it has landed a S$23.5 million contract with an unnamed Middle Eastern oil and gas company for the engineering, procurement, construction and commissioning (EPCC) of process equipment for early production systems. (US$1=S$1.3)....

(EnergyAsia, January 19 2011, Wednesday) — The sales of plug-in hybrid and all-electric vehicles (PEVs) in Asia will surpass 1.4 million units in the five-year period to 2015, according to US consulting firm Pike Research. In a new report, the Boulder, Colorado-based firm noted that Asia has implemented various national-level initiatives and programmes to promote...

(EnergyAsia, January 18 2011, Tuesday) — Singapore’s Ezra Holdings Ltd expects to boost its position as a world leading support and marine services provider in the offshore oil and gas sector with its full-year operations of subsidiary Aker Marine Contractors (AMC) which was acquired for US$250 million last year. AMC, previously a fully owned subsidiary...

(EnergyAsia, January 18 2011, Tuesday) — Japan’s Mitsubishi Heavy Industries Ltd (MHI) and India’s Larsen & Toubro Ltd (L&T) have started up two joint-venture plants in Gujarat state in northwestern India to manufacture supercritical-pressure coal-fired boilers, and steam turbines and generators. Designed to address India’s rapidly-rising electricity demand, the two JV plants located in an...

(EnergyAsia, January 18 2011, Wednesday) — India’s Gujarat State Petroleum Corp Ltd (GSPCL) has signed a two-year agreement to purchase 300,000 tonnes of liquefied natural gas (LNG) from a unit of Russia’s Gazprom Marketing & Trading Ltd (GM&T) from the second half of 2011. GM&T said Gazprom Marketing & Trading Singapore Pte Ltd will supply...

(EnergyAsia, January 18 2011, Tuesday) — Global Logistic Properties (GLP) said it has bought a 20% stake in Shenzhen Chiwan Petroleum Supply Base Co (SCPSB) for HK$539.2 million. (US$1=HK$7.77). SCPSB is the parent of BLOGIS, China’s second-largest logistics company, next only to GLP. GLP, majority-owned by the Government of Singapore Investment Corporation (GIC), purchased its...

(EnergyAsia, January 17 2011, Monday) — Singapore-listed Chemoil, a world leading supplier of marine fuel, said it has completed the purchase of OceanConnect Holding’s (OCH) marine fuel business for US$25 million. It will continue to operate under the name of OceanConnect Marine (OCM). Chemoil said the purchase price took into account factors such as the...

(EnergyAsia, January 17 2011, Monday) — The world fleet of LNG tank trailers has grown eight times in little more than a decade, from 250 units to more than 2,000, according to survey of transport fleets and equipment manufacturers by Zeus Development Corporation. The study results, released last month by the US-based information clearing house...

(EnergyAsia, January 17 2011, Monday) — The Rumaila Operating Organisation (ROO) achieved a significant milestone in the re-development of the super-giant field in southern Iraq by raising production by more than 10% over its initial production rate of 1.7 million b/d announced in December 2009. Coupled with the approval of the Rumaila rehabilitation plan last...

(EnergyAsia, January 17 2011, Monday) — Iraq’s state-owned South Oil Company said it has awarded Minnesota, US-based process automation specialists, Emerson Process Management, a contract to provide crude oil metering systems and related technologies for the new Al-Basra oil terminal now under construction in the Persian Gulf. Raising Iraq’s oil export capacity by 2.7 million...

(EnergyAsia, January 17 2011, Monday) — High-grade metallurgical coking coal supplier Puda Coal Inc said it recently completed and closed its public offering of nine million shares of common stock at a public offering price of US$12 per share. Priced on December 8 2010, the public offering included the sale of 7.85 million primary shares...