(EnergyAsia, September 23 2010, Thursday) — With its vast coal reserves and close proximity to China, Mongolia could emerge as a major competitor to Australia. Mongolia has at least 10-15 billion tons of recoverable coal, according to mining company Leighton Holdings Ltd, which claims to be the only international miner in the country. Compared with...
(EnergyAsia, September 23 2010, Thursday) — Indonesia’s state oil and gas company Pertamina said it has shortlisted five companies to help it build a US$1 billion refinery unit at an existing complex on Java Island. Japan’s Toyo Engineering, China’s Sinopec Corp, Italy’s Saipem SP, South Korea’s Hyundai Engineering and an unnamed local firm have been...
(EnergyAsia, September 23 2010, Thursday) — Indian police and fire officials are investigating the cause of what has been described as a suspicious major fire at an ageing un-used oil storage tank in Chennai Port. The facility leased by a private company went up in flames in late August. Fire fighters fought the blaze for...
(EnergyAsia, September 23 2010, Thursday) — Imports met more than 55% of China’s total oil demand in the first half of this year, according to the China Petroleum and Chemical Industry Association (CPCIA). The country’s oil import dependence has grown in lockstep with its fast rising demand brought on by strong economic growth. The association...
(EnergyAsia, September 22 2010, Wednesday) — Australia’s Prime Minister Julia Gillard said her government is giving owners of offices, hotels and supermarkets a 50% tax break for investments in energy-saving measures from the middle of 2011. The government said the green building tax break will cost it A$1 billion in foregone revenue by 2018. (US$1=A$1.08)....
(EnergyAsia, September 22 2010, Wednesday) — India’s Petronet LNG said it will build two new storage tanks at the Dahej liquefied natural gas (LNG) terminal to add to its four tanks and two regasification facilities. When the new tanks are commissioned, Dahej LNG terminal’s capacity will rise to 15 million metric tons a year from...
(EnergyAsia, September 22 2010, Wednesday) — Australia’s natural gas industry should not be considered an “energy source of last resort”, as it is a “dynamic contributor to the nation’s energy economy”, a leading gas pipeline industry executive said last week. The current “rush to renewables” as an energy source should force the gas industry to...
(EnergyAsia, September 22 2010, Wednesday) — Dalian Port (PDA) Co Ltd recently started up China’s biggest oil terminal with the capacity to import and unload 19 million tons of oil per year. Jointly developed by Dalian Port and CNPC, the port now has the capacity to offload 1.6 million b/d or 80 million tons annually....
(EnergyAsia, September 22 2010, Wednesday) — State Indian Oil Corp (IOC) is expanding the capacity of its largest oil refinery in Panipat by 25% to 300,000 b/d. The company shut down its crude, hydrocracker and delayed coker units for a month and a half from early September. When completed, the plant’s hydrocracking capacity will increase...
(EnergyAsia, September 22 2010, Wednesday) — Riding on Asia’s strong economic and energy demand growth, Australia’s booming oil and gas sector will be the biggest recipient of Shell’s investment over the next decade. The Anglo Dutch firm said it is allocating a large part of its resources in Australia, , particularly its natural gas sector,...
(EnergyAsia, September 21 2010, Tuesday) — Boosted by its strong economy, India is increasingly taking a larger share of South Africa’s coal exports. For the year to date, India’s coal purchases have averaged around 34% of South Africa’s exports, up from 29% in 2009 and 11% in 2008. Rising coal demand from India and China...
(EnergyAsia, September 21 2010, Tuesday) — Automakers will sell 3.2 million plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs) by 2015 as plug-in electric vehicles gain critical mass worldwide, says US-based Pike Research. These vehicles offer improved fuel economy, lower emissions, and a quieter ride than comparable traditionally power internal combustion engine (ICE)...
(EnergyAsia, September 21 2010, Tuesday) — Oil giants Royal Dutch Shell and PetroChina last month completed their joint acquisition of Arrow Energy Limited, an Australian coal seam gas company. The acquisition was made through CS CSG (Australia) Pty Ltd, an equal joint venture company owned by Shell Energy Holdings Australia Limited and a subsidiary of...
(EnergyAsia, September 21 2010, Tuesday) — Singapore’s Agency for Science, Technology, and Research (A*STAR), the lead agency for fostering world-class scientific research and talent, showcased its new toxic-free fire retardant, along with eight other innovations, at the Build Eco Xpo (BEX) Asia exhibition at the Sands Expo and Convention Centre LAST WEEK. These technologies will...
(EnergyAsia, September 21 2010, Tuesday) — The share price of SGX-listed offshore support and marine services specialist Ezra Holdings Ltd has fully recovered from the initial sell-off when the company announced last month that it had launched a fully underwritten one-for-five renounceable rights issue of new shares priced at S$1.18 each. (US$1=S$1.34). Ezra’s share price...
(EnergyAsia, September 21 2010, Tuesday) — More than seven years after the US launched its disastrous military invasion of Iraq, security threats and the drums of war are beating once again in the Middle East, home to 57% of the world’s oil reserves. The consequences of a possible Western strike against a more powerful, better...
(EnergyAsia, September 20 2010, Monday) — China Natural Gas Inc, a leading provider of compressed natural gas (CNG) for vehicular fuel and pipeline natural gas for industrial, commercial, and residential use in Xian, China, said it has successfully modified and tested a ship powered by liquefied natural gas (LNG) in Wuhan city recently. The company...
(EnergyAsia, September 20 2010, Monday) — Japan’s ITOCHU Corporation said it has agreed to acquire the shares of Australian coal mining company Gloucester Coal Ltd (GCL), which own and operates two coal mines in Gloucester Basin in Australia’s New South Wales state. The coal produced in the basin, referred to as the ‘Gloucester Project’, is...
(EnergyAsia, September 20 2010, Monday) — Nigeria will negotiate to raise its 1.673-million b/d production quota within the Organisation of Petroleum Exporting Countries (OPEC) when the cartel meets next month, said newly appointed Oil Minister Diezani Alison-Madueke. The West African nation has been producing more than two million b/d in recent months, thanks to the...
(EnergyAsia, September 20 2010, Monday) — Some refiners in Japan may have to reduce their capacity or exit from the business as they may not be able to meet the government’s new rule calling for increased heavy oil processing. Under the new regulation, refiners must either build new residue cracking units or scrap refining capacity...
(EnergyAsia, September 20 2010, Monday) — Longwei Petroleum Investment Holding Limited, an NYSE-listed oil and gas storage and distribution company operating in China, said its gross profit surged by 119% to US$68.5 million for the financial year ended June 30 2010. The Taiyuan City, Shanxi provice-based company reported a 72% rise in revenue to US$339.4...
(EnergyAsia, September 20 2010, Monday) — The US government wants Nigeria and its resource-rich neighbours to tighten security in the Gulf of Guinea, an increasingly vital trade passageway and source of oil and carbon production. In making the call last week, the US Deputy Assistant Secretary for African Affairs, William Fitzgerald, offered to work with...
(EnergyAsia, September 20 2010, Monday) — Russia’s second largest oil company, Lukoil is planning to invest a total of US$780 million in exploring for oil and gas in Ghana and Ivory Coast (Cote d’Ivoire). Having found oil in Ghana early this year, Lukoil believes West Africa holds great potential as it aims to drill up...
(EnergyAsia, September 20 2010, Monday) — It is easy to see why the ‘forgotten continent’ has become the focus of global political and economic competition of late. According to consultant PricewaterhouseCoopers, Africa is expected to pass North America in 2011 to become the third largest producing area after the Middle East and Central/Eastern Europe. In...
(EnergyAsia, September 17 2010, Friday) — Encouraged by the boom in Africa and Brazil, Angola is expected to consider opening bidding for its offshore oil prospects next year after suspending all activities the past four years. With oil prices holding steady in the US$70-80 range, the African nation expects strong investor interest given the recent...