(EnergyAsia, December 31 2013, Tuesday) — Royal Vopak said it will launch the seventh phase of expansion of its Fujairah, UAE storage terminal after securing a long-term contract from a customer to support its plans to build 478,000 cubic metres (cbm) of new capacity to store and handle crude oil. As part of the expansion...
(EnergyAsia, December 30 2013, Monday) — In delivering its 21st oil rig for 2013 last Friday, Singapore’s Keppel FELS set a world record in completing the most number of rigs in a single year. The subsidiary of mainboard-listed Keppel Corp delivered the US$210 million rig to Arabian Drilling Company (ADC) five days ahead of schedule...
(EnergyAsia, December 27 2013, Friday) — Due to the industry’s use of “advanced technologies”, the US will continue to boost domestic crude oil production through 2020 while natural gas output will rise through 2040, said the Energy Information Administration (EIA). In its latest forecast, the EIA expects US oil production to rise by 800,000 b/d...
(EnergyAsia, December 26 2013, Thursday) — Russia’s state energy giant Ronseft is hoping to boost its downstream operations by acquiring the global physical oil trading business of Wall Street firm Morgan Stanley for an undisclosed sum. The proposed deal caps a busy year for Rosneft which has emerged as a important upstream player with access...
(EnergyAsia, December 24 2013, Tuesday) — France’s Technip said it and China Offshore Oil Engineering Co Ltd (COOEC) have signed a five-year agreement to meet the Asian country’s growing demand for engineering, procurement, construction and installation services to serve its deepwater exploration and production sector. http://energycontents.com/index.php?route=product/product&path=60&product_id=301 The agreement combines the partners’ know-how, technical resources, complementary...
(EnergyAsia, December 23 2013, Monday) — Foster Wheeler AG said a subsidiary of its Global Engineering and Construction Group has been awarded a contract to design and supply hydrogen reformers for a US$9 billion refinery being built in the Nghi Son economic zone in Vietnam’s Thanh Hoa Province. The Zug, Switzerland-based engineering giant said the...
(EnergyAsia, December 20 2013, Friday) — Oman has awarded separate contracts to UK’s BP to develop onshore unconventional gas reserves and France’s Total to explore for hydrocarbons in a deepwater offshore area, the two companies have announced. BP said it will invest US$16 billion to drill 300 wells over 15 years as part of its...
(EnergyAsia, December 19 2013, Thursday) — Singapore-based Keppel FELS Limited, the world’s top offshore-drilling rig maker, said it has delivered to US-based Hercules Offshore Inc a second KFELS Super A Class jackup rig for use in the harsh conditions of the North Sea. Singapore Energy Series: http://energycontents.com/index.php?route=product/product&path=59&product_id=270 The Hercules Resilience was officially delivered on November...
(EnergyAsia, December 19 2013, Thursday) — After a lengthy debate, Mexican energy reform will revive the world’s ninth-largest crude oil industry by opening it up to direct foreign investment, said US consultant ESAI Energy. Foreign participation will take many forms that will eventually reverse a steady decline in Mexico’s crude output, enabling it to compete...
(EnergyAsia, December 18 2013, Wednesday) — A BG Group-led consortium building a liquefied natural gas (LNG) plant in Australia’s Queensland state said it has made its first delivery of natural gas from the Surat Basin coal seam fields to Curtis Island. BG Group said the delivery will enable commissioning work to begin in the first...
(EnergyAsia, December 17 2013, Tuesday) — The world consumed 38.7 million metric tons of lubricants last year, little changed from 2011, said US-based consulting and research firm Kline & Company. North America and Western Europe stagnated below pre-recession levels while Asian demand slipped after picking up in 2011, with the most significant change being a...
(EnergyAsia, December 16 2013, Monday) — Buoyed by an improving outlook in the global economy, the economies of the Caucasus and Central Asia (CCA) region are expected to grow by a collective 6.1% next year, up from an annual average of 5.8% in 2012 and 2013, said the International Monetary Fund (IMF). The fund said...
(EnergyAsia, December 13 2013, Friday) — Russia’s En+ Group said it and China’s largest coal producer, Shenhua Group, have secured the rights to jointly explore for and develop a major deposit of high-quality coal in Transbaikal Territory near their countries’ common border. http://energycontents.com/index.php?route=product/product&path=60&product_id=301 Razrez Ugol LLC, an equal joint venture between En+ subsidiary Vostsbiugol and...
(EnergyAsia, December 12 2013, Thursday) — Japan Petroleum Exploration Co (Japex) has announced plans to invest 60-billion yen in a new terminal to import and store liquefied natural gas (LNG) at Soma Port in Fukushima Prefecture still struggling to recover from the earthquake-tsunami devastation of March 2011. (US$1=102 yen). Japex said it has made a...
(EnergyAsia, December 11 2013, Wednesday) — Having launched a “large-scale modernisation programme”, the government of Uzbekistan expects the nation’s economy to grow by more than 8% in 2013 and 7% next year, said the International Monetary Fund (IMF). Despite facing a deteriortaing external environment, the IMF said Uzbekistan’s near-term economic outlook is favourable and the...
(EnergyAsia, December 10 2013, Tuesday) — Dutch oil and chemicals storage giant Royal Vopak has announced that it will be building Southeast Asia’s first independent liquefied petroleum gas (LPG) facility in Singapore. Vopak said it expects to complete the refigerated import terminal on Jurong island with an initial capacity of 80,000 cubic meters (cbm) in...
(EnergyAsia, December 9 2013, Monday) — UK’s AMEC said it has secured a contract from Kuwait National Petroleum Company (KNPC) to provide project engineering and management services for the Mina Al Ahmadi, Mina Abdullah and Shuaiba oil refineries in Kuwait. The five-year call-off contract, which has an optional one-year extension, is worth up to 72...
(EnergyAsia, December 6 2013, Friday) — Singapore Exchange (SGX) said its suite of thermal coal futures products achieved record volume and open interest last month. The exchange said traders transacted a record high of 705 lots representing 705,000 metric tonnes and maintained 605 open interest lots at the end of November. “Participation in SGX thermal...
(EnergyAsia, December 5 2013, Thursday) — As it shifts investment focus from conventional onshore projects, Russia will need the support of international oil companies to develop its more difficult and expensive tight oil and Arctic reserves, and liquefaction facilities to maintain hydrocarbon production in the long term, said consultant Wood Mackenzie. The new projects will...
(EnergyAsia, December 4 2013, Wednesday) — Mechel OAO, a leading Russian mining and metals company, said its Elgaugol OOO project company has received the US$150-million first tranche of financing for a major coal project from Vnesheconombank. Mechel is borrowing a total of US$2.5 billion from the Russian bank to develop the first stage of the...
(EnergyAsia, December 3 2013, Tuesday) — Singapore’s Sembcorp Industries said it has expanded its utilities business on Jurong Island, with the launch of its new S$154 million multi-utilities centre to supply energy, water and on-site logistics services to oil, petrochemical and chemical companies. The new plant on the island’s Banyan district adds to the company’s...
(EnergyAsia, December 2 2013, Monday) — China Aviation Oil (Singapore) Corp Ltd (CAO), said it has set up a London-based subsidiary to expand operations into Europe to take advantage as well as increase the value of the continent’s growing oil trade with Asia. CAO said the establishment of wholly owned China Aviation Oil (Europe) Limited...
(EnergyAsia, November 29 2013, Friday) — German industrial group Tognum AG is expanding its Singapore-based Asia Pacific headquarters in the Jurong area to house its growing range of services covering application engineering, sales and service support, distribution management, marketing and communications. Singapore Energy Series: http://energycontents.com/index.php?route=product/product&path=59&product_id=270 The expansion at the Tukang Innovation Park site will be...
(EnergyAsia, November 29 2013, Friday) — A state-owned company in Oman has awarded a US$2.1 billion contract for the upgrade and expansion of its 116,000 b/d oil refinery at Sohar to an equal joint venture between UK’s Petrofac and South Korea’s Daelim Industrial Company. The contract by Oman Oil Refineries and Petroleum Industries Company (ORPIC)...
(EnergyAsia, November 28 2013, Thursday) — The world’s main oil-producing countries now officially recognise shale and unconventional gas as serious competition to meet the world’s energy demand. http://energycontents.com/index.php?route=product/product&path=60&product_id=301 In its latest annual world oil outlook, the Organisation of Petroleum Exporting Countries (OPEC) has described shale gas from the US and Canada as an “increasingly important...