(EnergyAsia, September 23 2013, Monday) — Having recently plunged to a record low, the share price of Coal India Limited (CIL) will continue to struggle amid continuing doubts over its ability to meet its production and operating targets for the year. CIL’s share price fell to 238.35 rupees on August 30, below its offer price...
(EnergyAsia, September 20 2013, Friday) — Switzerland-based engineering giant Foster Wheeler AG said a subsidiary has secured a technical services agreement to provide construction management services for a hydroprocessing project at an oil refinery in Russia’s Far East. OJSC Khabarovsk Oil Processing Refinery awarded the contract to a subsidiary of Foster Wheeler’s Global Engineering and...
(EnergyAsia, September 20 2013, Friday) — The global expenditure on liquefied natural gas (LNG) projects will rise 109% to nearly US$228 billion for the 2013-2017 period compared with the previous five years, said consultant Douglas-Westwood (DW). In its latest eighth edition of the global LNG markets, the UK-based firm said growing demand for the fuel...
(EnergyAsia, September 20 2013, Friday) — Papua New Guinea is set to become the world’s latest liquefied natural gas (LNG) producer and exporter with operator ExxonMobil affirming its plan to complete and start up a US$19 billion plant near the city port of Port Moresby in the second half of next year. Operator Esso Highlands...
(EnergyAsia, September 19 2013, Thursday) — Kazakhstan’s long-delayed Kashagan field has produced its first oil, according to the North Caspian Operating Company. In an update, the US Energy Information Administration said the Caspian Sea region has the potential to export oil and natural gas to markets in Europe, South Asia and East Asia. With rising...
(EnergyAsia, September 19 2013, Thursday) — Canada’s MicroCoal Technologies Inc. (MTI), said it has made an initial payment for the construction of its first plant in Indonesia which has the capacity to upgrade the calorific value of 190,000 tonnes of low-rank coal per year. The Vancouver, British Columbia-based firm paid PT Citicon Energy (CEN) to...
(EnergyAsia, September 19 2013, Thursday) — As oil-rich Alberta province steps up its courtship of Chinese investment, Canada’s Toronto Stock Exchange (TSX) became the third international exchange after the main ones in New York and Hong Kong to trade the shares of China’s oil and gas major CNOOC Limited. China’s largest offshore oil producer had...
(EnergyAsia, September 18 2013, Wednesday) — UK-based oil and gas services provider Petrofac said it has secured a US$120 million agreement from Malaysian state energy firm Petronas to build, operate and manage two high-specification training facilities as part of its programme to enhance the capabilities of the local workforce. The operations and management components of (more…)
(EnergyAsia, September 18 2013, Wednesday) — Japanese engineering giant JGC Corp said it and partners Japan’s Marubeni Corp and Saudi Arabia’s Aljomaih Holding Co have secured a US$650 million contract to supply electricity and steam to three oil and gas complexes owned by state-owned oil company Saudi Aramco. The complexes are located in the Abqaiq,...
(EnergyAsia, September 18 2013, Wednesday) — China will provide more than US$3 billion in credits for neighbour Kyrgystan to develop energy projects including US$1.4 billion for the construction of a 225-km transit pipeline to export natural gas from Central Asia. The deal was announced last week during a meeting between Kyrgyz President Almazbek Atambayev and...
(EnergyAsia, September 17 2013, Tuesday) — Vietnam and Singapore began construction of their fifth joint industrial park in central Quang Ngai province at a ceremony last week that was witnessed by the countries’ two Prime Ministers, Nguyen Tan Dung and Lee Hsien Loong. Apart from the 600-hectare VSIP Quang Ngai park in Son Tinh district,...
(EnergyAsia, September 17 2013, Tuesday) — Bangladesh’s Omera Fuels Limited expects to soon start up its newly completed fuel storage terminal at Guptakhal in the port city of Chittagong to ensure feedstock supply to the country’s power plants. The company, a joint venture between state-owned Jamuna Oil Company and EC Securities Limited, an investment wing...
(EnergyAsia, September 17 2013, Tuesday) — South Korea has landed another important agreement to store crude oil for a Middle Eastern producing country with the promise of first right of access in the event of an emergency supply cut-off. Starting next year, Iraq will store about four million barrels of its crude oil with state...
(EnergyAsia, September 16 2013, Monday) — Oman now has only one company to produce, handle and market liquefied natural gas (LNG) from a three-train terminal with a combined 10.4 million tonnes/year capacity after Oman LNG took over Qalhat LNG from September 1. The enlarged Oman LNG will have greater operational efficiencies as it will manage...
(EnergyAsia, September 16 2013, Monday) — US coal consumption surged 8.7% in the first half of 2013 to 446 million short tons (mmst) over the same period last year on rising demand from the power sector, said the Energy Information Administration (EIA). As a result of an improving economy and the increased substitution of natural...
(EnergyAsia, September 16 2013, Monday) — State-owned Coal India (CIL) plans to establish 16 washeries through its subsidiaries to increase the supply of processed fuel for ready use in power stations across the country, said the Coal Ministry. The industry, however, is reacting with caution as the announcement, did not provide details of the programme...
(EnergyAsia, September 13 2013, Friday) — Policy and regulatory uncertainties in Japan and South Korea could restrict the development of liquefied natural gas (LNG) capacity, causing the Pacific market to remain tight and prices to stay high beyond 2020, predicts Wood Mackenzie. In making this call against consensus that the market will see supply relief...
(EnergyAsia, September 13 2013, Friday) — State-owned Coal India Ltd (CIL) said its subsidiary, South Eastern Coalfields, has signed an agreement for a 20-year supply of coal to a proposed US$1.5 billion power plant in the central state of Chhattisgarh. RKM Powergen, a joint venture between Malaysia’s Mudajaya Corp Bhd Mudajaya and RK Powergen of...
(EnergyAsia, September 13 2013, Friday) — Kazakhstan’s Kashagan oilfield, dubbed the world’s most expensive energy project after an estimated US$50 billion investment, started production this week, eight years behind original schedule. Spread over a 45km by 75 sq km area in shallow waters in Kazakhstan’s share of the Caspian Sea, the world’s largest oilfield outside...
(EnergyAsia, September 12 2013, Thursday) — Oil prices have risen and remained at current high levels as a result of global supply disruptions and strong demand combined with the US threat to attack Syria, said the US Energy Information Administration (EIA). While Brent crude oil spot prices have risen by as much as 6%...
(EnergyAsia, September 12 2013, Thursday) — Singapore-based China Aviation Oil Corp Ltd (CAO) said a fully-owned subsidiary has established a joint-venture business in Hong Kong to provide plane fuelling services at the Hong Kong International Airport (HKIA) at Chep Lak Kok for a 10-year term from 2015. China Aviation Oil (Hong Kong) Limited (CAOHK) has...
(EnergyAsia, September 12 2013, Thursday) — Indonesia’s coal miners are hoping the impending loss of demand from India might be partly offset by continued buying from China which recently imposed a 3% tax on low quality coal imports from suppliers outside Southeast Asia. India and China are major coal users and importers as they both...
(EnergyAsia, September 11 2013, Wednesday) — Buoyed by a 32% surge in hard coking coal sales, Mongolian Mining Corp (MMC) said its first half revenue rose 6.4% year-on-year to US$247.8 million. The Hong Kong-listed company, which did not reveal its profit or loss in a statement, said it sold 3.1 million metric tonnes of hard (more…)
(EnergyAsia, September 11 2013, Wednesday) — China’s state oil companies are showing different responses to events in the world’s most troubled region, with Sinopec buying into an upstream project in Egypt while it and others have left Syria as conflict rages in the two countries and beyond. Sinopec, short for China Petroleum & Chemical Corp,...
(EnergyAsia, September 11 2013, Wednesday) — Malaysians appear to have accepted last week’s unpopular fuel price hikes despite the prospect of higher inflation in coming months. Most appear to agree with the government’s decision to save RM3.3 billion next year by raising fuel prices by RM0.20 per litre as part of a plan to gradually...