(EnergyAsia, February 6 2012, Monday) — Australia is bracing itself again for another year of serious weather damage as heavy rains and floods shut down normal life and economic activities in resource-rich areas of Queensland and New Wales states. Since last week, floods have cut off some 12,000 stranded residents in small towns, submerged road...
(EnergyAsia, February 6 2012, Monday) — A worker strike is affecting coal exports from the leading terminal of Port Kembla on Australia’s east coast, 72 km south of Sydney city. A union representing workers at the BHP Billiton-operated terminal began industrial action last Wednesday after the Port Kembla Port Corporation announced it planned to cut...
(EnergyAsia, February 6 2012, Monday) — Australia’s Altura Mining said it expects to start mining its fully-owned Tabalong coal deposit in Indonesia’s South Kalimantan sometime this year upon receiving full government approval. The company plans to start by producing 300,000 to 400,000 metric tons a year of premium grade steam coal at the open-pit mine,...
(EnergyAsia, February 6 2012, Monday) — Seattle, US-based coal miner L&L Energy Inc said it has bought a 51% controlling stake in a coal mine in Guizhou province in China for about US$16.2 million in stock. With reserves of around 19 million tons, the Weishe mine could add 124,000 tons to L&L’s production, US$19.6 million (more…)
(EnergyAsia, February 6 2012, Monday) — US-based Clean Coal Technologies Inc (CCTI) said it has signed a binding memorandum of understanding (MOU) with India’s Jindal Steel and Power Limited to form a joint-venture company to market and deploy its Pristine-M(TM) technology in Southeast Asia. For its 65% stake, Jindal will pay US$6 million which includes (more…)
(EnergyAsia, February 3 2012, Friday) — China will continue to face power supply shortages this year as its generation capacity will expand at its slowest rate since 2006 while consumption is expected to surge by 8% to 9%. According to the China Electric Council, the country’s power consumption will reach 5,130 billion kilowatt hours in 2012...
(EnergyAsia, February 3 2012, Friday) — Worried about the country’s declining energy self-sufficiency, the Vietnamese government has released its long-term plan for the coal industry to raise domestic reserves and production. The plan, endorsed by Prime Minister Nguyen Tan Dung, calls for the coal industry to produce 45 to 47 million tonnes this year, 55...
(EnergyAsia, February 3 2012, Friday) — Dubai’s power and water production capacities grew significantly last year, reflecting its growth as an economic hub in the Middle East. Dubai Electricity and Water Authority (DEWA), the emirate’s state-owned utility, said it installed 8,718 megawatts (MW) of power generation capacity for 2011, up from 7,361 MW in 2010. (more…)
(EnergyAsia, February 3 2012, Friday) — US coal miner and trader Peabody Energy said it has appointed Yosef Setiyawan, its Indonesian director of engineering, as head of its new office in the city port of Balikpapan in East Kalimantan province. Reporting to Keith Downham, vice president of resource development for Indonesia, he will have responsibility (more…)
(EnergyAsia, February 3 2012, Friday) — Canada’s Prophecy Coal Corp said it has received a positive feasibility study for its proposed US$744 million 600 MW Chandgana Mine-Mouth Power Project in central Mongolia. The report was prepared by Ralf Thomsen, a project manager at Steag, a German firm specialising in the planning, financing, construction and operation (more…)
(EnergyAsia, February 2 2012, Wednesday) — Cheniere Energy Partners LP said its subsidiary, Sabine Pass Liquefaction LLC, has increased its liquefied natural gas (LNG) sale volume to BG Gulf Coast LNG LLC, a subsidiary of UK’s BG Group plc, following an amendment to their 20-year supply agreement. BG has agreed to purchase an additional two (more…)
(EnergyAsia, February 2 2012, Wednesday) — For the first time since late 2008, world oil demand fell over the course of a full quarter. That last time marked the start of the global economic crisis that remains very much in play despite efforts by the world’s Central Banks and international agencies to pump trillions of (more…)
(EnergyAsia, February 2 2012, Wednesday) — As US natural gas prices plunged below US$2.40 per million British Thermal Units (mmBTU) to their lowest levels in over a decade, liquefied natural gas (LNG) held firm near record levels in Asia, creating probably the greatest arbitrage trading opportunity in the history of any major commodities. But no...
(EnergyAsia, February 2 2012, Wednesday) — Traders are salivating at the record gap between US Henry Hub natural gas prices hovering below US$3 per million British Thermal Units (mmBTU), their lowest levels in over a decade, and Asian liquefied natural gas (LNG) spot prices holding firm between US$16 and US$20. The case for liquefying the...
(EnergyAsia, February 2 2012, Wednesday) — Australian rail operator QR National has taken a major step to expand and upgrade its nationwide rail infrastructure to support the next wave of growth in the resources sector in Queensland state. Its next phase of project development follows on from the recent commencement of the A$900 million Wiggins...
(EnergyAsia, February 1 2012, Wednesday) — Australia’s Hunter Ports has begun work on building a state-of-the-art terminal that could double the capacity of the world’s biggest coal export port in Newcastle by 2015. Controlled by mining entrepreneur Nathan Tinkler, Hunter Ports said it will A$2.5 billion in the new facility on the south bank of (more…)
(EnergyAsia, February 1 2012, Wednesday) — The Singapore and Chinese governments have criticised the US for its decision to impose trade sanctions against two of their oil companies for trading with Iran. The Singapore Foreign Ministry said the actions are “unilateral” and “above and beyond” the curbs issued by the UN Security Council. China has...
(EnergyAsia, February 1 2012, Wednesday) — India’s Tata Power has started up the first 800MW unit of its 4,000MW super-critical power plant at Mundra in Gujarat state. When completed later this decade, the 170 billion-rupee coal-fired plant will supply electricity to the states of Gujarat, Maharashtra, Punjab, Haryana and Rajasthan in northern India. (US$1=51 rupees)....
(EnergyAsia, February 1 2012, Wednesday) — Singapore sovereign wealth fund GIC has joined three companies to invest a total of C$500 million in Canada’s Osum Oil Sands Corp to help develop two projects in Alberta province. (US$1=C$1.01). Through a private placement, GIC, Warburg Pincus, Blackstone Capital Partners and KERN Partners, a Calgary-based private equity firm, (more…)
(EnergyAsia, February 1 2012, Wednesday) — Australia’s Universal Coal plc said it expects it expects to be strengthened by recent developments at its coking coal projects in northern South Africa. At a recent media briefing in Johannesburg, chairman Tony Harwood said its two early-stage coking coal exploration projects in Limpopo province will be a major (more…)
(EnergyAsia, January 31 2012, Tuesday) — Philippines oil company Petron said its board has approved its acquisition of a 65% stake in a Malaysian refinery owned by the local Exxon Mobil subsidiary. Petron, a San Miguel subsidiary which owns and operates the Philippines largest refinery, will pay US$610 million for Esso Malaysia’s downstream assets which...
(EnergyAsia, January 31 2012, Tuesday) — The Organisation of Petroleum Exporting Countries (OPEC) has kept its forecast for world oil demand to grow by 1.1 million b/d in 2012, unchanged from its previous forecast issued last month. OPEC expects world oil demand to reach 88.9 million b/d in 2012 after rising by 900,000 b/d in 2011...
(EnergyAsia, January 31 2012, Tuesday) — China’s four national bases for stockpiling its strategic oil reserve are now full operational, storing a combined 24.4 million metric tons of crude oil or nearly 180 million barrels, according to Chinese media reports. In the first phase of its strategic stockpiling programme, China stockpiled more than 14 million...
(EnergyAsia, January 31 2012, Tuesday) — Chevron Corp has made another natural gas discovery in Western Australia, boosting its plans to become a leading global liquefied natural gas (LNG) producer. The US major said its Australian subsidiary found natural gas in the Exmouth Plateau area of the Carnarvon Basin, its 13th offshore discovery in the (more…)
(EnergyAsia, January 31 2012, Tuesday) — UK’s Swire Oilfield Services has opened its regional headquarters in Singapore to meet rising demand for oil and gas support services in the Asia Pacific region. Located in the Loyang supply base, the new headquarters will act as a hub for all operations while providing existing and prospective customers (more…)