(EnergyAsia, March 5 2012, Monday) — The following is an edited version of an article by Jean-Marie Martin Amouroux, a member of the scientific board of consulting firm Enerdata. The competition for oil, gas and coal reserves around the world is intensifying and increasingly driven by players in Asia. Oil remains the leading fuel source,...
(EnergyAsia, March 5 2012, Monday) — Boosted by surging electricity consumption and rising steel production, China’s net coal imports rose by 15.2% to a record of over 167 million tonnes in 2011. According to the National Development and Reform Commission (NDRC), China’s coal deficit widened as it imported more than 182 million tonnes of coal...
(EnergyAsia, March 5 2012, Monday) — Global energy price reporting agency Argus said it has introduced a weekly FOB Newcastle 5,500 kcal/kg NAR (net as received) within 90 days assessment in addition to its existing FOB Newcastle 6,000 kcal/kg NAR within 90 days assessment. The new assessment is being launched in response to industry feedback (more…)
(EnergyAsia, March 5 2012, Monday) — The World Coal Association (WCA) said Caterpillar Global Mining, a unit of world leading mining equipment manufacturer Caterpillar Inc, has joined as a corporate member from January 2012. With Caterpillar’s addition, the WCA has raised its membership which includes major coal producers, national coal associations and other non-profit bodies (more…)
(EnergyAsia, March 5 2012, Monday) — Japan’s Toshiba Group said an Indian subsidiary has been awarded a contract to supply three 800MW supercritical steam turbine and generator island packages for a coal-fired thermal power plant in Kudgi in India’s Karnataka state. NTPC Limited, India’s largest state-owned energy service provider, awarded Chennai-based Toshiba JSW Turbine and (more…)
(EnergyAsia, March 2 2012, Friday) — Singapore’s marine and industrial conglomerate Sembcorp Industries said its net profit grew 2% from S$792.9 million in 2010 to S$809.3 million in 2011, while turnover was up 3% from S$8.8 billion to S$9 billion. (US$1=S$1.25) Its best performers continued to be its utilities and marine businesses, which accounted for (more…)
(EnergyAsia, March 2 2012, Friday) — Rotary Engineering Limited, a Singapore-listed provider of engineering, procurement, construction and maintenance (EPCM) services to the oil, gas and petrochemical industries, has reported a net profit of S$31 million on revenue of S$530.9 million for the year ending December 31 2011. This compared to S$63.7 million and S$704.2 million (more…)
(EnergyAsia, March 2 2012, Friday) — Dyna-Mac Holdings Ltd, a Singapore-based provider of engineering, procurement and construction (EPC) services to the offshore oil and gas and marine construction sector, said it made a net profit of S$5.6 million for the seven-month period ended December 31 2011, down from S$12.3 million for the same period in (more…)
(EnergyAsia, March 2 2012, Friday) — US major Chevron Corporation said its subsidiary, Chevron Nigeria Limited, has confirmed the start-up of oil production from the deepwater offshore Usan project in Nigeria. Operated by Total E&P Nigeria Limited which owns a 20% stake, the project will utilise a floating production, storage and offloading (FPSO) vessel with (more…)
(EnergyAsia, March 2 2012, Friday) — Dubai Electricity and Water Authority (DEWA) said it has launched two main 400/132KV substations and extended overhead lines at total cost of 900 million dirham. (US$1=3.7 dirham). Work on the two substations at Al Aweer and Meydan included extending 400KV overhead lines throughout Mushrif, Warsan, Meydan and Jebel Ali. (more…)
(EnergyAsia, March 1 2012, Thursday) — As a long-term strategy to reduce poverty, Asia should adopt a package of measures that combines people’s access to modern energy for heating, cooking and electricity with the ability to generate cash, supplement incomes and improve health and education The UN Development Programme (UNDP) recently unveiled this ‘energy plus’ (more…)
(EnergyAsia, March 1 2012, Thursday) — A consortium comprising Japanese trading house Marubeni and US engineering firm Black & Veatch has completed the fifth phase of a combined-cycle cogeneration plant in southern Thailand for the Glow Energy Public Company, Ltd. The low-emissions natural gas plant delivers a clean, reliable source of steam and electricity to Thailand’s (more…)
(EnergyAsia, March 1 2012, Thursday) — India’s Thermal Powertech Corporation India Limited (TPCIL) has secured 10 years of coal supply from Indonesia’s PT Bayan Resources Tbk for its new 1,320 power plant due to start up in Andhra Pradesh state in 2014. Singapore’s SembCorp Industries, which owns a 49% stake in TPCIL, said PT Bayan will (more…)
(EnergyAsia, March 1 2012, Thursday) — Dubai’s Supreme Council of Energy (SCE) recently reviewed the implementation of the emirate’s strategy to ensure the long-term sustainable supply of natural gas. The review of Dubai’s Integrated Gas Strategy 2030 was led by the SCE’s chairman, Sheikh Ahmed bin Saeed Al Maktoum, who chaired its 15th meeting at (more…)
(EnergyAsia, March 1 2012, Thursday) — The US Securities and Exchange Commission (SEC) has charged two Chinese executives linked to previously NYSE AMEX-listed Puda Coal with defrauding investors of hundreds of millions of dollars by stealing and selling the mining company’s assets in China. The SEC lawsuit charges Zhao Ming, the current chairman of Puda (more…)
(EnergyAsia, February 29 2012, Wednesday) — Wages and confidence are surging in the global oil and gas industry, according to the joint annual salary survey produced by consultants Hays Oil & Gas and leading jobsite Oil and Gas Job Search. The Salary Guide, based on over 14,000 respondents worldwide, reveals an industry generally brimming with (more…)
(EnergyAsia, February 29 2012, Wednesday) — ExxonMobil expects global energy demand to rise by about 30% from 2010 to 2040 as economic output more than doubles while the world population grow to nearly 9 billion people from just under seven billion over the same period. The developed economies of the Organization for Economic Cooperation and (more…)
(EnergyAsia, February 29 2012, Wednesday) — China said it wants to repair ties with South Sudan following “misunderstandings” that led to the African oil producer expelling the Chinese head of the local oil producing and pipeline company. Last week, the government of recently independent South Sudan said it expelled Liu Yingcai, President of Petrodar, for...
(EnergyAsia, February 29, Wednesday) — China’s Ministry of Land and Resources said the upstream hydrocarbon industry substantially boosted its oil and natural gas discoveries in 2011 to record its second most successful year since the country’s founding in 1949. It found 1.37 billion tonnes of proven oil reserves, up 20.6% compared with 2010, and 765.95...
(EnergyAsia, February 29 2012, Wednesday) — China’s oil imports exceeded five million b/d for the first time last year, raising the country’s dependence on external supplies beyond 55% and putting it on course to reach 67% by 2020, according to an analysis by the CNPC Economics& Technology Research Institute. Of growing concern to Chinese policy...
(EnergyAsia, February 28 2012, Tuesday) — A consortium led by US major Chevron Corp plans to spend US$5 to US$6 billion in a five-year drilling programme as part of an estimated US$20 to US$25 billion project to further develop Central Asian country’s biggest producing oil field. Chervon’s 50%-owned the TengizChevroil LLP venture will drill Kazakhstan’s (more…)
(EnergyAsia, February 28 2012, Tuesday) — Thailand’s Bangchak Petroleum Plc (BCP) said it plans to invest eight billion baht to over the next eight years to upgrade its 120,000 b/d refinery and expand its nameplate capacity by 20%. (US$1=30 baht). President Anusorn Sangnimnuan said the upgrade and expansion the Bangkok-based plant will be part of...
(EnergyAsia, February 28 2012, Tuesday) — Thai state upstream company PTTEP has offered to acquire UK-listed Cove Energy plc for £1.196, or nearly US$1.9 billion, surpassing Royal Dutch Shell’s competing bid of US$1.6 billion submitted earlier last week. (US$1= £0.63). Shell is expected to raise its price this week for Cove Energy, which holds an (more…)
(EnergyAsia, February 28 2012, Tuesday) — Hong Kong-listed investment company Ruifeng Petroleum Chemical Holdings Limited said it has signed a letter of intent to sell off an unspecified “substantial” equity stake to Black Sea Horizon Investment Holdings Limited and Beijing Xuan Fu. The announcement came just as Beijing Black Sea and real estate company, Beijing (more…)
(EnergyAsia, February 28 2012, Tuesday) — Australia’s largest downstream company reported what could be its largest loss of A$714 million after writing down the value of its two ageing refineries that can no longer compete against larger and newer export plants in Asia and the Middle East. (US$1=A$0.94). Caltex Australia Ltd said the outlook for (more…)