(EnergyAsia, August 13 2012, Monday) — L & L Energy Inc, a Seattle, US-based company producing coal in China, said it is expanding its operations in southwestern Guizhou province through a strategic agreement with a local coal supplier to build on an earlier purchase of a large stake in a coal miner. L&L Energy said (more…)
(EnergyAsia, August 10 2012, Friday) — China is taking advantage of low international coal prices to boost imports by more than 66% to 139.85 million metric tonnes in the first half of 2012. June’s imports alone were up 98% to 27.19 million metric tonnes compared with year-ago levels, according to the country’s Customs data. With...
(EnergyAsia, August 10 2012, Friday) — The Chinese government is targeting to raise the country’s railway capacity for transporting coal to three billion tonnes a year by 2015. The government is looking to improve the nation’s coal delivery system as part of its development programme and energy security system under the current 12th five-year plan...
(EnergyAsia, August 10 2012, Friday) — Singapore’s Keppel Offshore & Marine Ltd said its subsidiary, Fernvale Pte Ltd, has secured contracts from Sete Brasil Participações SA for the design and construction of five semisubmersible drilling rigs for a total sum of approximately US$4.1 billion. The contracts for the rigs based on Keppel’s proprietary DSSTM 38E (more…)
(EnergyAsia, August 10 2012, Friday) — Indonesia’s second largest thermal coal producer, Adaro Energy, said it now expects to produce between 48 and 51 million metric tonnes in 2012, down from an earlier forecast of 50 and 53 million mt. Citing “difficult market conditions” with coal prices down by more than 20% since last April, (more…)
(EnergyAsia, August 10 2012, Friday) — US engineering firm Babcock & Wilcox Company (B&W) said a China-based joint venture has secured a contract worth more than $300 million to design and manufacture two coal-fired boilers, boiler auxiliaries and two wet flue gas desulphurisation (FGD) units for a power plant in Vietnam The North Carolina company (more…)
(EnergyAsia, August 8 2012, Wednesday) — Singapore Exchange is expanding its portfolio of energy products and over-the-counter (OTC) clearing services with its purchase of a 49% stake in Energy Market Company Pte Ltd (EMC), the operator of the country’s wholesale electricity market. (US$1=S$1.25). SGX has agreed to acquire the stake held by The Marketplace Co (more…)
(EnergyAsia, August 8 2012, Wednesday) — Germany’s Evonik Industries is expanding amino-acid production for animal feed with the construction of a new 500-million-euro methionine complex on Singapore’s Jurong Island. When completed in the third quarter of 2014, the 150,000-metric ton/year complex will boost the company’s total annual capacity to 580,000 metric tons, enabling Evonik to (more…)
(EnergyAsia, August 8 2012, Wednesday) — Two German firms are planning to establish an equal joint venture company to develop infrastructure for the supply of liquefied natural gas (LNG) as a marine fuel in Europe. Bomin, a leading marine fuels supplier, and technology company The Linde Group aim to start up their Hamburg-based company later (more…)
(EnergyAsia, August 8 2012, Wednesday) — Apple’s clean energy policies have significantly improved, but the company still gets low scores for its energy choices when compared with sector leaders, said Greenpeace International. Despite a welcome commitment by Apple in May that its data centres will be coal-free and powered by 100% renewable energy, Greenpeace said (more…)
(EnergyAsia, August 8 2012, Wednesday) — China’s coal mining provinces have been reducing production and slashing staff costs in an attempt to keep a growing supply glut and price decline from worsening. Weighed down by slowing demand growth and rising imports, Chinese benchmark coal prices at Qinhuangdao port have fallen more than 30% from a...
(EnergyAsia, August 7 2012) — US major Chevron Corp said it and its partners have approved plans to separately develop a field off the west African coasts of Congo and Angola, as well as explore off Suriname in Latin America. An international consortium led by subsidiary Chevron Overseas Congo Limited will invest US$2 billion to (more…)
(EnergyAsia, August 7 2012, Tuesday) — L&L Energy Inc, a US-based company with coal operations in China, said it recently signed a letter of intent with AVIC Sichuan Coal Logistics Co Ltd to jointly explore business opportunities in two of western China’s largest cities. As part of the agreement, AVIC Sichuan will share its customer (more…)
(EnergyAsia, August 7 2012, Tuesday) — Australian freight operator QR National said it has signed a new long-term contract with miner Cockatoo Coal Ltd to transport from its Baralaba and Wonbindi mines. Under the 10-year contract, QR National will deliver an additional three million tonnes of coal a year to the Wiggins Island Coal Export (more…)
(EnergyAsia, August 7 2012, Tuesday) — Companies liable under Australia’s newly launched carbon price mechanism will pay up to 45% less than initially expected, with cost savings totalling over A$10 billion translating into significantly reduced carbon price impacts for the country’s consumers and commodities buyers in Asia, said research firm RepuTex. (US$1=A$0.93). The carbon analytics (more…)
(EnergyAsia, August 6 2012, Monday) — Helped by an improving electricity supply outlook, the Japanese economy is experiencing a domestic-led recovery, with growth expected to reach almost 2.5% this year, said the International Monetary Fund (IMF). However, the fund warned that it could slash this by 0.25 percentage point if the country’s electricity supply outlook (more…)
(EnergyAsia, August 6 2012, Monday) — The unconventional oil and gas bubble may have burst with Australia’s BHP Billiton writing off a massive US$2.84 billion off the value of US shale gas assets it bought last year. The company paid a total of US$17 billion for the Fayetteville assets from Chesapeake Energy in February 2011 (more…)
(EnergyAsia, August 6 2012, Monday) — China’s coal market could remain weak into early 2013 on slumping demand and continued oversupply from rising production and imports, forcing more mines to shut down, said the China National Coal Association (CNCA). Presenting this bleak assessment at a recent media briefing amid reports of mine closures in Inner...
(EnergyAsia, August 6 2012, Monday) — China’s coal mining and transportation groups have jointly launched a national pricing index to compete against the older Qinghuangdao Port index provided by consumer groups. The China Coal Industry Association and China Coal Transportation & Sale Society launched their index last month to counter what they claim is buyers’...
(EnergyAsia, August 3 2012, Friday) — Coal Asia Holdings said it plans to offer 800 million shares at par value in its upcoming initial public offering (IPO) on the Philippine Stock Exchange’s first board by the fourth quarter. (US$1=42 peso). The company, which holds the country’s second largest coal reserves, aims to raise 726.87-million peso (more…)
(EnergyAsia, August 3 2012, Friday) — Singapore listed linen and apparel company Aussino Group Ltd is morphing into a retail fuels operator with its proposed S$70 million takeover of Max Myanmar Group’s energy business unit which owns and operates a downstream business in Myanmar. (US$1=S$1.25). Aussino began its transition early last month when it signed (more…)
(EnergyAsia, August 3 2012, Friday) — China’s state-owned Chalco said it has extended its offer to acquire a majority stake in Mongolian coal miner SouthGobi Resources Ltd for the second time. The aluminium producer, a major customer of SouthGobi, is facing strong resistance from Mongolia which is wary of China’s growing role in its economy (more…)
(EnergyAsia, Aug 3 2012, Friday) — India suffered a huge blow to its long-term economic prospects and international reputation with this week’s massive power blackouts shutting down electricity supply to more than half its 1.2-billion population for at least two days. The blackout enveloping almost the entire northern half of the country including the capital...
(EnergyAsia, Aug 3 2012, Friday) — India suffered a huge blow to its long-term economic prospects and international reputation with this week’s massive power blackouts shutting down electricity supply to more than half its 1.2-billion population for at least two days. The blackout enveloping almost the entire northern half of the country including the capital...
(EnergyAsia, August 2 2012, Wednesday) — US major Chevron Corp is further boosting its natural gas profile in Asia with plans to raise production in Bangladesh after making additional finds in Australia. The US major said a subsidiary will invest US$500 million to expand production capacity at the Bibiyana field in northwestern Bangladesh by 300 (more…)