(EnergyAsia, August 2 2013, Friday) — The power subsidiary of India’s Adani Group said its net loss for the April-June 2013 quarter surged 47.9% to 11.98 billion rupees compared with 810 billion rupees for the same period last year. (US$1=60 rupees). Adani Power Ltd attributed the increased loss to the decline in in the value...
(EnergyAsia, August 2 2013, Friday) — Australia’s Origin Energy Limited said it has completed a set of related agreements involving the A$50 million purchase of a state-owned power-generating company and new fuel supply agreements. Last month, the company said it had signed agreements with the New South Wales government for the A$50 million acquisition of...
(EnergyAsia, August 2 2013, Friday) — Sri Lanka could be the latest Asian country to import and use liquefied natural gas (LNG) to generate electricity and provide fuel for ships. The Sri Lanka Ports Authority (SLPA) has announced plans to develop an LNG import terminal at the country’s fast-growing southern port of Hambantota as part...
(EnergyAsia, August 1 2013, Thursday) — Canadian miner Teck Resources Ltd said it is slowing the development of its Quintette coal mine in British Columbia province until prices for the commodity recover. (US$1=C$1.03). Owing to the continued weak outlook for metallurgical coal prices that contributed to a 50.5% plunge in second quarter earnings, the Vancouver-based...
(EnergyAsia, August 1 2013, Thursday) — Canada’s MicroCoal Technologies Inc (MCI) said it has sold a “master agreement” to Indonesia’s PT Wijaya Tri Utama (PWTU) for the design, construction, operation and maintenance of a proprietary coal drying facility at a coal-fired power plant on Kalimantan Island. The Vancouver, British Columbia firm said it will receive...
(EnergyAsia, August 1 2013, Thursday) — Z Energy, New Zealand’s main downstream oil company, is seeking to raise between NZ$650 million and NZ$900 million through a public offer of its share at NZ$3.25 to NZ$3.75 apiece. (US$1=NZ$1.26). The final price for the offer which values Z Energy at between NZ$1.3 billion and $1.5 billion will...
(EnergyAsia, July 31 2013, Wednesday) — Switzerland-based engineering giant Foster Wheeler AG said a subsidiary has been awarded a contract to provide project management and consultancy for the construction of a new US$9 billion oil refinery and petrochemicals complex in Vietnam. The Nasdaq-listed company said its Global Engineering and Construction Group was awarded the contract...
(EnergyAsia, July 31 2013, Wednesday) — Japan’s Mitsubishi Heavy Industries, Ltd (MHI) said it has received an order for core components of two sets of a 660MW supercritical-pressure coal-fired boiler and steam turbine to be installed in two high-efficiency coal-fired power generation units in northern India. Rajasthan Rajya Vidyut Utpadan Nigam Ltd (RRVUNL) is building...
(EnergyAsia, July 31 2013, Wednesday) — An Iranian state firm said it is building three large crude oil storage terminals, including one that it claims will be the largest floating unit in the Persian Gulf. The National Iranian Offshore Oil Company (NIOOC) will launch a 2.2-million barrel storage terminal in the Southern Bushehr province near...
(EnergyAsia, July 30 2013, Tuesday) — The dream of an overland passage way to serve Southeast Asia’s energy needs since the late 18th century just came true over the weekend. With the July 28 launch of a new regional pipeline infrastructure, Myanmar has begun exporting natural gas to China that could reduce East Asia’s dependence...
(EnergyAsia, July 30 2013, Tuesday) — Central Asia’s fuel-short economies will have two new oil refineries by next month after Kyrgyzstan starts up an 800,000-ton/year plant to follow on Tajikistan’s recent launch of a 100,000-ton/year plant. The refineries will help the region’s fast-growing economies reduce dependence on imports of gasoline, diesel and fuel oil. In (more…)
(EnergyAsia, July 30 2013, Tuesday) — At least three Asian buyers will be in no hurry to shift the link of their liquefied natural gas (LNG) import prices to the US’s Henry Hub, currently the focus of a major campaign by Japanese and Indian utilities. China’s CNOOC Ltd is paying just US$3.5 per million BTU...
(EnergyAsia, July 29 2013, Monday) — Singapore-based oil explorer Rex International Holding is looking to raise up to S$85.25 million through a listing on the local Catalist exchange. (US$1=S$1.26). Rex, which claims the use of superior exploration technology to greatly enhance its success for finding oil and gas, is offering a total of 142.5 million...
(EnergyAsia, July 29 2013, Monday) — After four years of slow growth, the world is about to regain its oil appetite to match the rapid consumption growth rates of the past decade, said the Organisation of Petroleum Exporting Countries (OPEC). Led by Asia, the world is expected to consume 90.68 million b/d of oil in...
(EnergyAsia, July 29 2013, Monday) — Citing a recovery in Asian consumption led by China, the US Energy Information Administration (EIA) has issued its most bullish global oil demand forecast in recent months for the next two years. In its latest July energy outlook, the EIA said world oil consumption will grow by 880,000 b/d...
(EnergyAsia, July 26 2013, Friday) — The export revenues of the Organisation of the Petroleum Exporting Countries (OPEC), excluding Iran, will decline this and next year after reaching a high of US$982 billion in 2012, said the US Energy Information Administration (EIA). The 12-member cartel less Iran earned about US$982 billion in net oil export...
(EnergyAsia, July 26 2013, Friday) — Lloyd’s Register (LR) said it has secured a contract to provide classification services for six liquefied natural gas (LNG) tankers to be built in China by Hudong Zhonghua Shipbuilding (Group) Co Ltd. The project is a key milestone in Chinese shipbuilding and a key indicator in the development of...
(EnergyAsia, July 26 2013, Friday) — China’s apparent oil demand in June rose by 11.7% to 9.99 million b/d or 40.89 million metric tons (mt), raising first half demand by 3.9% over the same period last year, said energy media Platts in an analysis of latest government data. For the first half, Chinese oil demand...
(EnergyAsia, July 25 2013, Thursday) — Norway’s Odfjell Terminals recently said it and China’s Founder Group have agreed to set up an equal joint venture to develop a US$137 million petrochemical tank terminal in Fujian province by early 2016. The Norwegian firm will pay the Beijing University-owned Founder Group US$21 million for a 50% equity...
(EnergyAsia, July 25 2013, Thursday) — China is strengthening its grip on Central Asia through an increased role in the oil and gas industry of Kazakhstan, the region’s largest economy. Early this month, the Kazakh government said it would sell an 8.4% stake in the country’s giant Kashagan oilfield to China National Petroleum Corp (CNPC)...
(EnergyAsia, July 25 2013, Thursday) — India will want current liquefied natural gas (LNG) suppliers from Qatar and Australia to lower prices to match the US$10 per million BTU it believes it will pay for imports from the US. GAIL, the country’s state gas utility, could begin importing LNG from the US as early as...
(EnergyAsia, July 24 2013, Wednesday) — Environmentalists have hailed the US Export-Import Bank’s decision to reject financing the construction of a proposed coal-fired power plant in Vietnam. The bank’s board voted last week to reject financing for the 1,200MW Thai Binh II coal plant in the Red River Delta in northern Vietnam. “The Thai Binh (more…)
(EnergyAsia, July 24 2013, Wednesday) — Qatar has sold its first liquefied natural gas (LNG) cargo to Malaysia, said state-owned Qatargas Operating Company Limited, also known as Qatargas. Purchased by Malaysian state firm Petronas LNG Ltd, the cargo was loaded on board the “Seri Begawan” vessel at Ras Laffan Port for delivery to the country’s (more…)
(EnergyAsia, July 24 2013, Wednesday) — Iran and Iraq are looking to build on a landmark gas supply agreement that, geopolitics permitting, could contribute significantly to the economic development of the former war enemies and their neighbours. In a four-year deal signed in Baghdad on July 21, Iran stands to earn a total of US$15...
(EnergyAsia, July 23 2013, Tuesday) — The Australia government’s decision to continue with a carbon price on the energy and mining sector puts its liquefied natural gas (LNG) industry at a big disadvantage against suppliers in other countries, said the Australian Petroleum Production Exploration Association (APPEA). The controversial carbon tax was introduced at a fixed...