(EnergyAsia, May 15 2013, Wednesday) — Qatar has awarded a consortium comprising Japan’s Chiyoda Corp and Taiwan’s CTCI Corp the contract for the engineering, procurement, supply, construction and commissioning (EPSCC) of a second condensate refinery at its Ras Laffan Industrial City. When completed in 2016, the 146,000 b/d Laffan Refinery 2 (LR 2) project will (more…)
(EnergyAsia, May 15 2013, Wednesday) — A US company jointly owned by Exxon Mobil Corp and Qatar Petroleum International has announced it will proceed to build a US$10 billion in a liquefied natural gas (LNG) export plant in Sabine Pass in Texas state. Golden Pass Products LLC said its shareholders have signed a commercial agreement for (more…)
(EnergyAsia, May 15 2013, Wednesday) — The Chinese government has ordered the of shut-down of all coal mining operations in southwestern Sichuan province after an explosion at the Taozigou mine killed 28 workrs and injured 18 others. The incident underlines the poor safety record at Chinese coal mines which has prompted the provincial government to...
(EnergyAsia, May 14 2013, Tuesday) — The Indian government has agreed to a further sale of its Coal India Limited (CIL) shares, paring down its holding from 90% to 80%. An Inter-Ministerial Group (IMG) has approved the sale of more than 600 million shares that it hopes will contribute at least 180 billion rupees to...
(EnergyAsia, May 14 2013, Tuesday) — Singapore Exchange said it has signed a memorandum of understanding (MOU) with China Beijing International Mining Exchange (CBMX) to jointly develop iron ore trading to serve the Chinese and international markets. SGX President Magnus Bocker and CBMX President Dong Chaobin signed the agreement at Singapore Iron Ore Week 2013 (more…)
(EnergyAsia, May 14 2013, Tuesday) — US-based Chevron Oronite said its record-high investments in Singapore and France will “significantly strengthen” its supply chain and position the company for further growth. The company is simultaneously undertaking two projects at its Jurong Island site in Singapore and another two to expand the Gonfreville plant in France. In (more…)
(EnergyAsia, May 14 2013, Tuesday) — The Australian Coal Association (ACA) has accused Greenpeace of threatening the nation’s economy and future prosperity by trying to destroy the coal industry In hitting out at the green lobby’s “unrelenting campaign” which includes civil disobedience, Nikki Williams, said “the Australian people have not given Greenpeace a veto over...
(EnergyAsia, May 13 2013, Monday) — India’s coal-induced energy crisis is evolving into a political disaster for the ruling Congress Party after two Cabinet ministers resigned over corruption issues. Law Minister Ashwani Kumar was put to the sword after allegations he had tried to influence a key report by the Central Bureau of Investigation (CBI)...
(EnergyAsia, May 13 2013, Monday) — South Korea’s Samsung C&T Corp said it has secured a US$483 million order from the Mongolia Railway Authority to build a network of 217 km of rail infrastructure that will largely serve the coal industry in the landlocked country bordering Russia and China. Samsung C&T said the infrastructure comprising...
(EnergyAsia, May 13 2013, Monday) — UK-based natural gas company BG Group PLC said it has signed new agreements with China National Offshore Oil Corporation (CNOOC) pertaining to the Queensland Curtis LNG (QCLNG) project in Australia. As part of the new deal, BG Group will sell “certain interests” in upstream coal seam gas tenements in (more…)
(EnergyAsia, May 13 2013, Monday) — Russian coal and steel group Mechel remains interested to sell off a minority stake in subsidiary Mechel Mining following recent talks with several Asian companies including China’s Baosteel Group Corp. With net debt of some US$9.4 billion, the company disclosed its plan to attract investment during a conference with...
(EnergyAsia, May 10 2013, Friday) — Australia’s Celsius Coal has announced personnel and structural changes at its board and management to position for long-term growth at its operations in Kyrgyzstan. The company said managing director Grant Thomas has resigned but will remain as a consultant while Kyrgyz country manager Alistair Muir has been promoted to (more…)
(EnergyAsia, May 10 2013, Friday) — Indonesia, one of the world’s largest coal exporters, may have to import the fuel by the end of the decade as its consumption is rising faster than domestic production, said state utility PLN. While Indonesia’s thermal coal production has remained in the 300-to-400 million-ton range, its consumption is expected...
(EnergyAsia, May 10 2013, Friday) — Two Australian companies, International Coal Limited (ICX) and Coal Face Resources Pty Limited, have agreed to jointly explore and develop the EPC 2286 permit, also known as the Don Juan project, in Queensland’s state Surat Basin. ICX said it will hold up to 71% of the partnership to jointly (more…)
(EnergyAsia, May 10 2013, Friday) — The Indonesian government is coming under growing pressure to reverse or at least slow down its export ban on low grade coal in the face of weak international demand and falling prices. Amid lower demand from China, the world’s largest coal consumer, prices for the commodity have fallen by...
(EnergyAsia, May 9 2013, Thursday) — Royal Dutch Shell is looking to co-operate with Indian state upstream company ONGC as it seeks to re-enter the oil and gas industry of Asia’s third largest economy. The two companies have begun talks for a long-term alliance to jointly undertake upstream projects in India and abroad. Having tied...
(EnergyAsia, May 9 2013, Thursday) — Adaro Energy, Indonesia’s second largest coal miner, blamed the commodity’s weak price on the global markets for the 65.8% plunge in its net profit in the first quarter this year. Net income for the January-to-March quarter slumped to US$41.6 million while revenue slipped 19.1% to US$740.6 million compared to...
(EnergyAsia, May 9 2013, Thursday) — Platts, a leading source of benchmark price assessments for energy, petrochemical and metal products, said it has launched two new thermal coal price assessments for China to serve the domestic market and Asia. The CFR South China assessment covers the seaborne spot trade in physical open-thermal coal including the (more…)
(EnergyAsia, May 9 2013, Thursday) — The Indian government and Royal Dutch Shell said the country must speed up the development of its energy infrastructure to support the growth of the economy. Minister of State for Petroleum and Natural Gas Panabaka Lakshmi recently called on government agencies and oil companies to co-operate to develop major...
(EnergyAsia, May 8 2013, Wednesday) — SinoCoking Coal and Coke Chemical Industries Inc, a Nasdaq-listed vertically-integrated coal and coke processing firm, said it started trial production at a newly leased coking coal production plant in China’s Henan province last month. Subsidiary Pingdingshan Hongli Coal & Coke Co Ltd, which owns and operates another plant located (more…)
(EnergyAsia, May 8 2013, Wednesday) — Australia’s Aquila Resources said Japanese trading house Sumitomo Corp has withdrawn from a proposed joint venture project to explore for coal in Queensland state. The participation of Sumitomo subsidiary Sumisho Coal Australia Pty Limited in the project would have helped Aquila’s cause in raising capital to fund a A$7.4...
(EnergyAsia, May 8 2013, Wednesday) — More than two decades after planners began considering liquefied natural gas (LNG) in the country’s energy mix, Singapore launched commercial operations of its S$1.7 billion terminal this week with the receipt of the first cargo from exclusive importer BG Group of the UK. (US$1=S$1.25). At the terminal’s launch, Trade (more…)
(EnergyAsia, May 8 2013, Wednesday) — Australia needs more certainty in planning laws to support its coal export sector, said the industry’s main association. The Australian Coal Association (ACA) said future investment is at risk if governments continue to ignore the impact of high costs, delays and uncertainties in the approval process for mining projects....
(EnergyAsia, May 7 2013, Tuesday) — Singapore Exchange last month launched its South China coal swap contract with 25 lots representing 25,000 metric tons changing hands on the opening day. The exchange said Straits (Singapore) Pte Ltd and Tullett Prebon Energy Singapore Pte Ltd brokered the first two trades in the API 8 CFR South (more…)
(EnergyAsia, May 7 2013, Tuesday) — Mechel OAO, a leading Russian mining and metals companies, said it has secured an agreement for the annual supply of 500,000 tons of coking coal to South Korean iron and steel maker POSCO Corporation for three years. Mechel Carbon (Singapore) Pte Ltd, a trading subsidiary of the company’s mining (more…)