(EnergyAsia, April 9 2013, Tuesday) — Citing the poor quality of coal it is receiving, India’s largest power generating company NTPC has refused to sign an overdue fuel supply agreement with the country’s main coal mining firm. NTPC has been openly criticising Coal India Ltd (CIL) for supplying sub-standard coal that could jeopardise the performance...
(EnergyAsia, April 9 2013, Tuesday) — Japan has stepped up its pursuit of overseas oil and gas assets with two of its largest utilities recently securing deals in the US and Australia. Tokyo Gas Co said it has agreed to pay US$485 million for a 25 % stake in the oil and gas assets of (more…)
(EnergyAsia, April 9 2013, Tuesday) — State-owned Sinopec Group said a subsidiary is planning to invest 70 billion yuan to build China’s largest plant in northwestern Xinjiang region to convert coal to natural gas over the next decade. (US$1=6.2 yuan). Sinopec Xinjiang Energy Chemical Co Ltd will develop the proposed project in Zhundong to produce...
(EnergyAsia, April 8 2013, Monday) — The Indian government is looking to emulate the strategy of its East Asian rivals by providing full state support and participation alongside private companies to acquire global energy assets. The move is reportedly under serious consideration as New Delhi is frustrated by Indian companies’ apparent inability to compete for...
(EnergyAsia, April 8 2013, Monday) — India’s oil minister has disputed media reports by insisting that his country would continue to import crude oil from Iran, further casting doubts on the effectiveness of Western trade sanctions against the Islamic regime. Petroleum and Natural Gas Minister M. Veerappa Moily said the Indian government would protect the...
(EnergyAsia, April 8 2013, Monday) — Coal will be the biggest loser in the world’s energy mix to 2040 as it cedes market share to oil, gas, nuclear and renewables, said ExxonMobil’s latest long-term forecast. With global energy demand forecast to rise by 35% from 2010 to 2040, ExxonMobil said the world will need a (more…)
(EnergyAsia, April 8 2013, Monday) — India’s economic prospects have significantly dimmed as a result of rising inflation, widespread electricity shortages, a persistent infrastructure deficit, and constraints on the government’s ability to ease monetary policy, said the International Monetary Fund (IMF). In a recent country update on India, the IMF said the economy is expected...
(EnergyAsia, April 5 2013, Friday) — With coal prices on the mend, SouthGobi Resources Ltd, a Canadian coal mining company controlled by UK’s Rio Tinto Group, said it will resume production at its flagship Ovoot Tolgoi mine in Mongolia. The Vancouver-based company said the mine, which has been idled since last June, is expected to (more…)
(EnergyAsia, April 5 2013, Friday) — Singapore LNG Corp (SLNG), the country’s monopoly importer of liquefied natural gas (LNG), said the just-completed first tank of the Jurong Island import terminal received its first cargo on March 27. State-owned Qatargas delivered the commissioning cargo from its Ras Laffan terminal on its 260,000-cubic metre Umm Slal tanker, (more…)
(EnergyAsia, April 5 2013, Friday) — The Vietnamese government has suspended the development of a proposed 8-trillion-dong coal handling terminal at the Ke Ga deepwater port in Binh Thuan province. (US$1=21,000 dong). No reason was given but state-owned Vietnam National Coal and Mineral Industries Group (Vinacomin) which has been working on the project since 2009...
(EnergyAsia, April 5 2013, Friday) — Upstream energy equipment and solutions services providers are anticipating a continuing surge in Asian demand in coming years as China and other countries step up their exploration and production activities. While China’s international expansion has been capturing most of the headlines, Beijing is also encouraging deepwater projects off its (more…)
(EnergyAsia, April 4 2013, Thursday) — Sri Lanka’s state Ceylon Electricity Board is planning to build a 500 MW coal-fired power plant in the country’s southwestern coast, said Power Minister Pavithradevi Wanniarachchi. The Sri Lankan government is looking to Japan to provide both the funds and technology for the proposed plant at Ahuruwella in Induruwa....
(EnergyAsia, April 4 2013, Thursday) — State-owned Coal India Limited (CIL) is working with the railways and coal ministries to increase the country’s rail coal-carrying capacity. As part of a long-term solution to ensure prompt delivery of coal supplies to power plants across India, CIL said it is also planning to invest US$1.4 billion to...
(EnergyAsia, April 4 2013, Thursday) — The Queensland state government has confirmed that it plans to sell nearly half its stake in Australia’s rail-based coal transporter Aurizon Holdings for around A$806 million. (US$1=A$0.96). The state government’s Treasurer and trade minister Tim Nicholls said it will sell 200 million shares to domestic and international institutional and (more…)
(EnergyAsia, April 4 2013, Thursday) — From the April 2013 issue of EnergyAsia Report: Depending on who’s telling the story, the world is either headed for a bleak conflict-ridden future of scarce, unaffordable oil and gas supplies, or it will be glutted for decades as major countries become energy superpowers by exploiting their newly-discovered huge...
(EnergyAsia, April 3 2013, Wednesday) — Under pressure from the Indian government, state-owned Coal India Limited (CIL) has agreed to accept production and supply targets for the current financial year ending March 31 2014 which it is not confident of achieving. The embattled company which accounts for more than 80% of India’s coal production has...
(EnergyAsia, April 3 2013, Wednesday) — The Chinese government has approved state-owned China National Petroleum Corp’s (CNPC) proposed venture with Royal Dutch Shell to jointly develop shale gas in Sichuan province, paving the way for the European major to invest US$1 billion in the country’s huge unconventional hydrocarbon reserves. According to their contract signed last...
(EnergyAsia, April 3 2013, Wednesday) — About 40 energy officials representing the governments of Japan and Vietnam held their first bilateral dialogue in Hanoi last month to dicsuss trade and policy issues facing the coal industry. The delegations were led respectively by Akira Yasui, the coal division director of Japan’s Ministry of Energy, Trade and (more…)
(EnergyAsia, April 3 2013, Wednesday) — China sharply boosted its domestic crude oil and natural gas reserves last year as a result of making new finds, said the country’s Ministry of Land and Resources. The ministry said China raised its crude oil reserves by 13% to 1.52 billion tonnes and natural gas by 33% to...
(EnergyAsia, April 2 2013, Tuesday) — Mechel OAO, a leading Russian mining and metals company listed on the New York Stock Exchange, last month celebrated the 10th anniversary of its founding. Mechel, which started with a few production assets including Chelyabinsk Metallurgical Plant and Southern Kuzbass Coal Company, now comprises some 30 producers of coal, (more…)
(EnergyAsia, April 2 2013, Tuesday) — The World Coal Association (WCA) has described a new report released by the board advising the International Energy Agency (IEA) as “an important step on the pathway to near-zero emissions coal”. Milton Catelin, WCA’s chief executive, said the report provides an important piece of advice to policy makers on (more…)
(EnergyAsia, April 2 2013, Tuesday) — Australia has displaced Qatar to become the largest supplier of liquefied natural gas (LNG) to Japan, the world’s biggest buyer, said Australian consultant EnergyQuest. As a result of fast-rising domestic production, Australia’s 15.9 million tonnes of exports of LNG to Japan exceeded Qatar’s 15.7 million tonnes, and Malaysia’s 14.6 (more…)
(EnergyAsia, April 2 2013, Tuesday) — China’s electricity consumption growth is expected to accelerate to 7.5% this year compared with 5.5% in 2012, reflecting a pick-up in economic expansion, said the China Electricity Council. In a recent update, the council predicts China will consume about 5,330 billion kWh in 2013 compared with 4,960 billion kWh...
(EnergyAsia, April 1 2013, Monday) — Indian Oil Corp’s (IOC) is expected to complete the construction of a new oil refinery in the eastern state of Odhisa, previously known as Orissa, by November, said the country’s Minister of State for Petroleum Panabaaka Lakshmi. In a written statement to Parliament, she said the completion of the...
(EnergyAsia, April 1 2013, Monday) — The Organisation of Petroleum Exporting Countries (OPEC) has kept its latest forecast for 2013 world oil demand almost unchanged at 89.67 million b/d compared with 89.68 million b/d previously. In its March report, the cartel expects world oil demand to rise by 840,000 b/d or 0.94%, about the same...