(EnergyAsia, February 20 2012, Monday) — Kulevi Oil Terminal, a subsidiary of the State Oil Company of Azerbaijan (SOCAR), said it is building a second railway link to improve the transportation of oil between the Chaladidi and Kolkheti stations, both located in Georgia. Work on the 5.6 km electrified line is half completed to expand...
(EnergyAsia, February 20 2012, Monday) — Singapore-listed offshore contractor IEV Holdings is venturing into oil and gas exploration after being awarded a concession by Indonesian state-owned upstream company Pertamina EP. Subsidiary IEV Gas accepted the award of an “operation cooperation” programme for the Pabuaran onshore block on February 16, with completion of the terms expected (more…)
(EnergyAsia, February 20 2012, Monday) — JX Nippon Oil & Energy Corp, Japan’s largest oil refiner, said it has agreed to buy 200,000 metric tons of liquefied natural gas (LNG) a year over 17 years from Royal Dutch Shell Plc starting 2015. Singapore-based Shell Eastern Trading Ltd will deliver the LNG in three shipments a (more…)
(EnergyAsia, February 20 2012, Monday) — Japan’s Mitsubishi Corp has agreed to invest C$2.9 billion for a 40% interest in a venture to jointly own and develop Calgary-based Encana Corp’s natural gas lands in the Cutbank Ridge resource play in Canada’s British Columbia province. (US$1=C$0.99). Holding the majority 60% stake, Encana said it will be (more…)
(EnergyAsia, February 20 2012, Monday) — Faced with rising cost, Australian upstream company Woodside said it is assessing the possibility of selling a small portion of its 50% stake in a proposed liquefied natural gas (LNG) project off Western Australia state. In a statement to the Australian Securities Exchange (ASX), Woodside said it has not (more…)
(EnergyAsia, February 17 2012, Friday) — Sinopec Group has started operations at its 20-million-barrel strategic crude oil storage base in Hebei province in northern China. Built at a cost of 2.62 billion yuan, the new terminal in Caofeidian comprises 32 tanks each capable of storing up to 100,000 cubic metres of crude. (US$1=6.3 yuan). ...
(EnergyAsia, February 17 2012, Friday) — The Lanka India Oil Company said it plans to invest US$300 million by 2016 to upgrade its Trincomalee terminal to serve Sri Lanka’s growing fuel demand. Managing director K.R. Suresh Kumar said that in preparation for the project on the country’s east coast, the company has begun a year-long...
(EnergyAsia, February 17 2012, Friday) — Singapore’s Rotary Engineering Limited said its 51%-owned joint venture company, Petrol Steel Co Ltd, has secured a US$34 million engineering, procurement and construction (EPC) contract to build 17 field storage tanks in Saudi Arabia. The contract, Rotary’s fourth in the kingdom now worth a total of US$848 million, relates (more…)
(EnergyAsia, February 17 2012, Friday) — Canada’s Tethys Petroleum expects to boost its profit margins with the start up of a vital oil storage and rail-loading facility linking its Doris oilfield in Kazakhstan to the nation’s main rail system. The new Aral Oil Terminal (AOT) infrastructure will allow the company to initially double Doris’s production (more…)
(EnergyAsia, February 17 2012, Friday) — Battered by Asian competition and a strong local currency, Australia’s largest downstream oil company said it could decide to shut down its two refineries later this year after writing down their combined value by A$1.5 billion. (US$1=A$0.94). Caltex Australia Ltd, half-owned by US major Chevron Corp, said the fate (more…)
(EnergyAsia, February 16 2012, Thursday) — Calling them a “disaster waiting to happen”, the government of Malaysia’s Penang state wants Esso and Shell to move their fuel depots from a heavily trafficked location near a ferry terminal and a bus centre. The government and the companies are in talks to find a long-term solution after...
(EnergyAsia, February 16 2012, Thursday) — Indonesian state oil and gas firm Pertamina said it plans to invest 18-trillion rupiah through 2014 to build infrastructure to boost natural gas supply and encourage domestic consumption. (US$1=9,200 rupiah). Nearly 59% of that will be invested in building an import-oriented floating storage regasification unit (FRSU) in Central Java...
(EnergyAsia, February 16 2012, Thursday) — The Indonesian government is planning to invest nearly 78 trillion rupiah in nine major nationwide projects to boost natural gas supply to meet rising domestic consumption. (US$1=9,200 rupiah). The projects are expected to be completed by 2018 to help offset the country’s declining energy self-sufficiency, according to regulator BPH...
(EnergyAsia, February 16 2012, Thursday) — ExxonMobil has begun a technical study into upgrading the power supply system at its ageing 80,000 b/d Altona refinery in Australia’s Victoria state. The company suffered unspecified financial losses when the 63-year-old plant located near Melbourne city was disabled for at least a day after it was struck by...
(EnergyAsia, February 16 2012, Thursday) — Norway’s DNB Bank said Asia’s offshore oil and gas stocks are at the start of a sector up-cycle, naming Singapore-listed Keppel E&P, Sembcorp Marine, STX OSV, Ezion and Jaya as its top picks. In a report last week, authors Kay Lim and Simon Jong also recommended buying Swiber, Ezra, (more…)
(EnergyAsia, February 15 2012, Wednesday) — Australia’s Environmental Clean Technologies (ECT) Limited said it has signed a Memorandum of Understanding (MoU) giving K-Coal Co Ltd exclusive sales and marketing rights for its Coldry technology in South Korea. ECT chairman and managing director Michael Davies said K-Coal, a member of the S&J Group, is well positioned (more…)
(EnergyAsia, February 15 2012, Wednesday) — Canadian mining firm SouthGobi Resources said it has commissioned and started-up a dry coal-handling plant at its Ovoot Tolgoi coal mine in southern Mongolia. With an annual capacity to process nine million tonnes of run-of-mine coal, the plant includes a 300-tonne-capacity dump hopper, which will receive ROM coal to (more…)
(EnergyAsia, February 15 2012, Wednesday) — Toshiba JSW Turbine and Generator Pvt Ltd, a 75/25 joint venture between Japan’s Toshiba Corporation and India’s JSW Group, have started up its plant to manufacture super critical steam turbines and generators in the Indian city of Chennai. The plant will produce high-efficiency steam turbines and generators for super (more…)
(EnergyAsia, February 15 2012, Wednesday) — Adani Power’s first quarterly loss reflects the growing threat of increasingly scarce and costly coal supply to India’s power-short economy. With coal generating more than 60% of the country’s electricity, the Indian economy has been held back by worsening power outages and brown-outs as utilities are forced to reduce...
(EnergyAsia, February 15 2012, Wednesday) — Winsway Coking Coal Holdings said its 60/40 venture with Japan’s Marubeni Corp Ltd has received Hong Kong Stock Exchange approval to acquire Canada’s Grande Cache Coal for C$1 billion. (US$1=C$1). The acquisition of the Calgary-based miner will only be completed after the Hong Kong-listed company puts it to a...
(EnergyAsia, February 14 2012, Tuesday) — China’s Shenhua Group is planning to build an eight gigawatt (GW) coal-fired power plant in Beihai port city in the Guangxi Zhuang Autonomous Region. The region’s economy has suffered in recent years from a double blow of frequent droughts and power shortages that has disrupted normal business and living...
(EnergyAsia, February 14 2012, Tuesday) — Russian Railways (RZhD) said it will support the Indonesian government’s plan to invest US$2.4 billion in developing a major railway project in infrastructure-challenged Borneo Island. RZhD will contribute its expertise in the studies to determine the project’s technical and economic feasibility to deliver coal, rubber, palm oil and other...
(EnergyAsia, February 14 2012, Tuesday) — A consortium led by Huaneng Power International Inc, China’s largest listed power company, expects to complete the construction of the first phase of a coal distribution terminal in Guangdong province’s Shantou Port by the end of next year. The company said it has been approved by the country’s highest...
(EnergyAsia, February 14 2012, Tuesday) — Singapore Power Limited (SP) said it has appointed board member Mohamed Hassan Marican as its next chairman to succeed Ng Kee Choe who will retire on June 12. Mr Hassan Marican, who served as President and CEO of Malaysian state oil and gas firm Petronas from 1995 to 2010, (more…)
(EnergyAsia, February 14 2012, Tuesday) — US heavy machinery supplier Caterpillar is deepening its reach into China’s coal industry with the recent sale of an automated longwall plough and the acquisition of a Chinese coal mining equipment company. Caterpillar said it has secured an order to supply its 11th DBT/Bucyrus/Caterpillar plough system in China to (more…)