(EnergyAsia, February 14 2014, Friday) — Seraya Energy, the retail arm of Singapore’s energy provider YTL PowerSeraya, is organising a symposium today to help organisations take an integrated approach to purchasing electricity, oil and gas to increase energy and cost efficiency. Seraya Energy’s Forex and Oil Symposium 2014 will feature four experts to speak on...
(EnergyAsia, February 13 2014, Thursday) — Switzerland’s automation technology and services provider ABB will supply the integrated electrical and marine propulsion systems for Russia’s newest two icebreaker vessels to operate in the harsh Arctic region. The Swiss firm said last September that it had secured the US$25 million contract from Russia’s State Maritime Rescue Coordination...
(EnergyAsia, February 13 2014, Thursday) — In an attempt to hold down rising cost, the international oil majors are expected to reduce capital expenditure (capex) from 2013’s US$270 billion by 20% over the next two to three years, predicts UK consultant Douglas Westwood. This would equate to about 7% of the total industry’s annual upstream...
(EnergyAsia, February 12 2014, Wednesday) — China’s Wison Offshore & Marine said it has secured a second contract to build a barge-based floating regasification unit from Pacific Midstream Holding Corp, an equal joint venture between Belgium’s Exmar NV and Canada’s Pacific Rubiales Energy Corp (PRE). http://energycontents.com/index.php?route=product/product&path=60&product_id=301 The Shanghai-based firm said its affiliates will be responsible...
(EnergyAsia, February 12 2014, Wednesday) — China imported a record 11.85 million tonnes of crude oil from Kazakhstan last year, up nearly 14.1% from 2012. The oil was exported entirely through the 1,200km pipeline linking the two countries, starting from Atasu in Kazakhstan into China’s Xinjiang Uygur Autonomous Region in its far western region. According...
(EnergyAsia, February 11 2014, Tuesday) — Russia’s export of ultra-low sulphur diesel will quadruple by 2020 as reforms of the country’s oil export duties will substantially boost its investment in hydrocracking and other secondary refining units, predicts US consulting firm ESAI Energy. In a new study, “From Russia without Sulfur: Russian Oil Tax Reform Upends...
(EnergyAsia, February 11 2014, Tuesday) — An international consortium comprising UK’s Tullow Oil, France’s Total and China National Offshore Oil Company Ltd (CNOOC) has agreed to support Uganda’s plans to build an oil refinery and a pipeline as part of a bigger plan to develop the East African country’s oil industry. Speaking to the media...
(EnergyAsia, February 10 2014, Monday) — As it continues to debate the revival of its idled nuclear energy plants, Japan is also looking to develop new sources of coal supplies from Africa and Poland as part of its energy diversification measures. Japan has shut down its entire nuclear power capacity which used to supply 29%...
(EnergyAsia, Feb 10 2014, Monday) — With its long experience selling to Asia, Australia’s Woodside Petroleum has been roped in to help Israel develop an export-oriented liquefied natural gas (LNG) project through its purchase of a 25% stake in the country’s largest gas field which holds an estimated 18.9 trillion cubic feet of reserves. Woodside...
(EnergyAsia, February 7 2014, Friday) — Oil and gas M&A activity was significantly lower in 2013 in value and volume, with supply challenges expected to restrict activity over the next 12 months, said consultant EY. http://energycontents.com/index.php?route=product/product&path=60&product_id=301 In its latest review, EY found that the value of oil and gas M&A activities had fallen by 21%...
(EnergyAsia, February 7 2014, Friday) — After years of debate and planning, the Singapore Refining Company (SRC) has decied it will proceed to invest US$500 million to upgrade its 290,000 b/d refinery on Jurong Island. Equal shareholders Chevron and Singapore Petroleum Company (SPC), a fully-owned subsidiary of PetroChina International, will add a cogeneration plant to...
(EnergyAsia, February 6 2014, Thursday) — Oil and gas companies will spend a total of US$260 billion in deepwater operations between 2014 and 2018, up 130% from the preceding five years, predicts consultant Douglas Westwood (DW). The bulk of about US$213 billion will be invested in Africa and the Americas, which have the most attractive...
(EnergyAsia, February 6 2014, Thursday) — In anticipation of Japan’s power sector reform, trading house Marubeni Corp has set up a new subsidiary with near-term plans to add at least 400MW of capacity through the construction of four power plants to serve the greater Tokyo market. Marubeni Thermal Power Co Ltd (MTPC), which will operate...
(EnergyAsia, February 5 2014, Wednesday) — Singapore’s maritime and environment agencies said they are continuing work to contain two oil spills as well as clean-up of two offshore Islands affected by two separate vessel collisions last week. On January 29 at about 6.30 pm, the Maritime and Port Authority (MPA) said it was informed that...
(EnergyAsia, February 5 2014, Wednesday) — South Korea’s largest utility, Korea Electric Power Corp (Kepco), is making progress in its plans in the Philippines by adding to the four power plants that it owns and operates in the country. It is planning to build two 100MW coal-fired power plants in Negros Occidental province, with the...
(EnergyAsia, February 4 Jan 2014, Tuesday) — UK-listed Altona Energy PLC said it would press on alone to develop a multi-billion-dollar project to convert coal to liquid fuels in Australia after state-owned China National Offshore Oil Company (CNOOC) relinquished its operatorship and 51% shareholding in their joint venture undertaking. http://energycontents.com/index.php?route=product/product&path=60&product_id=301 Altona said it agreed to...
(EnergyAsia, February 4 2014, Tuesday) — Still unable to operate its nuclear reactors, Japan’s Tokyo Electric Power Company (Tepco) has started 2014 with the addition of two ultra super critical coal-fired plants with a combined 1.6GW of capacity to the estimated 67GW capacity it had at the end of December. The company started up the...
(EnergyAsia, February 3 2014, Monday) — Cities will have to be better designed and planned to alleviate growing tensions and competition for resources as urbanisation gathers pace in response to the human population rising to over eight billion by 2050, said Royal Dutch Shell. “By 2050, the number of people living in cities is likely...
(EnergyAsia, February 3 2014, Monday) — A port owner has won approval to dispose nearly three million cubic metres of dredged mud into waters located just 25km from the world’s largest marine park as part of a multi-billion-dollar project to develop a major port for the export of coal from Australia’s Queensland state. State-owned North...
(EnergyAsia, January 31 2014, Friday) — Having earlier hinted at exiting Canada’s increasingly troubled oil sands patch, Thai state-owned upstream company PTTEP and Norway’s Statoil have surprised with a deal to swap their respective interests in the Kai Kos Dehseh (KKD) oil sands project in Alberta province. Statoil will remain as operator and assume full...
(EnergyAsia, January 30 2014, Thursday) — A BP-led consortium has begun producing oil from Azerbaijan’s offshore West Chirag platform in the Caspian Sea to mark the completion of the US$6 billion Chirag oil project. According to the UK major, which is operating the Azerbaijan International Operating Company (AIOC), the platform is producing 6,000 b/d of...
(EnergyAsia, January 29 2014, Wednesday) — Pulled down by a decline the final quarter, China’s oil demand grew at the same 2.5% rate last year as it did in 2012, said US oil media Platts. http://energycontents.com/index.php?route=product/product&path=60&product_id=301 While Platts reported that China consumed a record 9.83 million b/d for the year, it was still lower than...
(EnergyAsia, January 29 2014, Wednesday) — The Energy Information Administration (EIA) has begun 2014 where it left off last year with its latest forecast calling for stronger growth in global oil demand over the next two years. For 2014, it expects global oil demand to grow by 1.3% to reach 91.59 million b/d, and by...
(EnergyAsia, January 28 2014, Tuesday) — At a time when the supermajors are struggling to raise production and replenish reserves, Chinese state-owned giant CNOOC Limited has declared that it plans to raise hydrocarbon production and more than replace reserves for 2014. http://energycontents.com/index.php?route=product/product&path=60&product_id=301 China’s largest offshore oil and gas producer said it plans to raise its...
(EnergyAsia, January 28 2014, Tuesday) — South Korea’s state-owned KNOC is leading a consortium to build a 9.9-million-barrel oil products storage terminal at Ulsan port located about 380 km south of Seoul, said the country’s Ministry of Trade, Industry and Energy. KNOC will own a 51% stake with partners Dutch oil and chemical logistics firm...