(EnergyAsia, November 3 2010, Wednesday) — PT Borneo Lumbung Energi is set to become the first coking coal miner to list in Indonesia when it sells 20% of its shares in a public offering this month to raise four trillion rupiah. (US$1=8,900 rupiah). The company is hoping to follow PT Harum Energy’s sale of 550...
(EnergyAsia, November 3 2010, Wednesday) — The Asian Development Bank (ADB) and the Japanese government will fund studies into the feasibility of developing three wind power facilities in northern Philippines to help reduce the country’s reliance on coal and oil-fired power and cut greenhouse gas emissions. A technical assistance grant of up to US$630,000 from...
(EnergyAsia, November 3 2010, Wednesday) — The Chinese government has told coal miners to accelerate efforts to consolidate the industry as part of a move to improve to their environmental and safety records as well as raise their efficiency and profitability. A major objective would be to reduce the number of small, old and unsafe...
(EnergyAsia, November 2 2010, Tuesday) — China said it is on course to produce more than three billion tonnes of coal this year for the first time. According to official data, China produced 2.442 billion tonnes of coal, up 17.2% from year-ago levels in the nine months of 2010. If it continues this rate of...
(EnergyAsia, November 2 2010, Tuesday) — “Unabated” economic growth in China and India is set to shift the global trade in thermal coal in the coming decade, said Jeff Watkins, chairman for coal at consulting firm Wood Mackenzie. He said the first dramatic shift will take place next year when China will overtake Japan as...
(EnergyAsia, Ocotber 25 2010, Monday) — Technics Oil and Gas Limited said it has secured a S$35 million-contract to provide JV Vietsovpetro (VSP) topside equipment for its wellhead satellite platforms, RC-6 and RC-7, to produce oil at the Dragon field in offshore Vietnam. (US$1=S$1.3). Scheduled for completion next September, the platforms are expected to produce...
(EnergyAsia, November 2 2010, Tuesday) –– Coal India plans to invest a total of nearly 88 billion rupees to build 20 coal plants and to acquire coal mines abroad. (US$1=Rs44). It has earmarked Rs60 billion to buy coal mines in the US, Australia, Indonesia and South Africa. The company is looking to invest 28 billion...
(EnergyAsia, November 2 2010, Tuesday) — Indian coal mining firm Gujarat NRE Coke said it will be expanding in Australia with plans to invest an additional A$450 million to develop mines and access roads, and to acquire mining services and equipment by 2015. (US$1=A$1.02). The additional spending will help raise its Australian workforce to 650...
(EnergyAsia, November 2 2010, Tuesday) — The Chinese government said it is tightening regulations to improve mining safety particularly in coal production which killed more than 2,600 workers in this country last year. Mining companies that violate safety practices now face fines of between 150,000 yuan and five million yuan while those that have a...
(EnergyAsia, November 2 2010, Tuesday) — India’s Adani Enterprises said it plans to invest a total of US$6.9 billion to develop its recently acquired coal mines in Australia. The infrastructure and mining group said it will be developing rail and port facilities at its Galilee Basin coal mine in Queensland state to produce up to...
(EnergyAsia, November 1 2010, Monday) — BP said it has agreed to sell its upstream businesses and associated interests in Venezuela and Vietnam to TNK-BP for a total of $1.8 billion. TNK-BP, Russia’s third largest oil company, is owned equally by BP and the AAR consortium comprising Alfa Group, Access Industries and Renova. The agreement...
(EnergyAsia, November 1 2010, Monday) — Gull New Zealand, an independent oil company, said it has sourced biodiesel from leading biodiesel manufacturer Environ Fuels to launch the nation’s only B5 blended biodiesel available to the public at a service station. With the current availability of Gull Diesel Max, three Gull service stations now solely sell...
(EnergyAsia, November 1 2010, Monday) — Two international associations representing the shipping and bunker fuel industries said they have launched an electronic guide to bunkering. BIMCO, the world’s largest international shipping association, and the International Bunker Industry Association (IBIA) said the new guide is designed primarily for use by ships’ crew. BIMCO’s Asia Liaison Officer,...
(EnergyAsia, November 1 2010, Monday) — The International Monetary Fund (IMF) has sharply lowered Iraq’s 2011 oil production forecast to 2.2 million b/d from its previous expectation for 2.9 million b/d set in February. In a review of its February US$3.7 billion standby loan to the war-battered country, the IMF also reduced its forecast for...
(EnergyAsia, November 1 2010, Monday) — Future global demand for hybrid and battery electric vehicles may be “over-hyped”, reaching just 7.3% of total vehicle sales in 2020 from 2.2% this year, according to US consultant J.D. Power and Associates. In a special report, the company has forecast that the combined global sales of hybrid electric...
(EnergyAsia, November 1 2010, Monday) — India is interested to participate as a co-investor in Ghana’s booming upstream oil and gas sector. Officials from both sides are following up on the September meeting that India’s commerce and industry minister Anand Sharma held with Ghanaian President John Evans Atta Mills and his ministers during his visit...
(EnergyAsia, October 29 2010, Friday) — China’s apparent oil demand in September rose 5.1% year-on-year to 35.53 million metric tons (mt) or an average of 8.68 million b/d, said US oil media group Platts. According to its analysis of Chinese official data, Platts said the September demand figure is almost unchanged from August’s 35.54-million-mt level....
(EnergyAsia, October 29 2010, Friday) — Singapore’s Rotary Engineering Limited said it has secured a US$250 million engineering, procurement and construction (EPC) contract to build a 1.1-million-cubic-metre oil storage facility in the UAE. The contract was awarded by Singapore-based oil trader Concord Energy Pte Ltd for the Fujairah oil terminal to be completed in the...
(EnergyAsia, October 29 2010, Friday) — GPSChemoil said it has secured loans totalling US$90 million to help finance the phase four construction of its storage terminal in Fujairah, UAE that will make it one of the biggest in the Middle East. Upon completion in 2012, the terminal’s capacity will be expanded from its existing 95,000...
(EnergyAsia, October 29 2010, Friday) — South Korea’s state-owned Korea National Oil Corp (KNOC) is edging closer towards acquiring and delisting British oil explorer Dana Petroleum. It recently gained the support of Dana’s shareholders to acquire an additional 34% stake after having completed the buy-out of 29.5% in September. It is offering to pay 18...
(EnergyAsia, October 29 2010, Friday) — Japan’s Marubeni Corporation and Toyo Engineering Corporation have signed an agreement with Mongol Sekiyu Corporation to look into jointly constructing a US$600 million oil refinery in the Mongolian city of Darkhan, about 200 km north of the capital city of Ulaanbaatar. Marubeni said the 44,000 b/d refinery will have...
(EnergyAsia, October 29 2010, Friday) — InterOil Corporation said its partly-owned subsidiary, Liquid Nuigini Gas Ltd, has signed an agreement with Hong Kong-based Energy World Corporation Ltd (EWC) to build a two-million-tonne-per-year (mt/y) land-based liquefied natural gas LNG plant in the Gulf province of Papua New Guinea. Liquid Nuigini Gas, which is jointly owned by...
(EnergyAsia, October 28 2010, Thursday) — Keppel Energy Pte Ltd, a wholly-owned subsidiary of Singapore’s Keppel Corporation Limited, said it has started construction of a 800MW unit at its natural gas-fired Keppel Merlimau Cogen plant (KMC), on Jurong Island. Expected to be completed by 2013, the S$900 million expansion project will boost KMC’s generation capacity...
(EnergyAsia, October 28 2010, Thursday) — Building on their success early this month, Taliban militia groups have threatened to launch more attacks on fuel trucks and depots in Pakistan operated by North Atlantic Treaty Organisation (NATO) troops. In a lightning raid, up to 12 Taliban gunmen damaged or destroyed 27 fuel trucks and killed a...
(EnergyAsia, October 28 2010, Thursday) — Singapore Exchange (SGX) said it will be start clearing trades for over-the-counter (OTC) Indonesian sub-bituminous coal swap contracts from November 3, making it the first exchanget to offer such a service. The extension of SGX’s OTC clearing service to the Asian coal market offers traders and physical players an...