(EnergyAsia, May 19 2010, Wednesday) — Gulf oil exporters could be negatively impacted by green policies being considered in the world’s two largest energy consuming countries, according to a US think tank. Amy Myers, an energy expert at Rice University’s James A Baker III Institute for Public Policy in Texas, noted that plans by China...
(EnergyAsia, May 19 2010, Wednesday)— Indonesian state energy company PT Pertamina said it will increase light crude imports by 200,000 b/d to 325,000 b/d from Saudi Arabia this year. According to President Karen Agustiawan, Pertamina will use the additional imports for its Cilacap and Balongan refineries. She expects to soon conclude talks with state-owned oil...
(EnergyAsia, May 19 2010, Wednesday)— Indonesia’s oil production is likely to fall to 917,000 barrels per day this year, about 5% below forecasts, on account of field shutdowns and regulatory restrictions, said Raden Priyon, head of state agency BPMigas. In a meeting with the energy commission of the House of Representatives, he said production is...
(EnergyAsia, May 19 2010, Wednesday) — Sinopec Corp, China’s second largest oil company, has started building a 3.2-million-cubic-metre terminal to store crude oil in the country’s northern industrial hub of Tianjin. The 3-billion-yuan facility comprising 32 oil tanks will be built over a 68-hectare site in Tianjin’s Binhai New Area. Construction is expected to finish...
(EnergyAsia, May 18 2010, Tuesday) — Ghana’s first floating production storage and offloading (FPSO) vessel FPSO Kwame Nkrumah MV21, is on track to undertake its landmark assignment in the offshore Jubilee field following its official naming in Singapore early this month. The FPSO, officially named by Mrs Ernestina Naadu Mills, Ghana’s First Lady, was converted...
(EnergyAsia, May 18 2010, Tuesday) — A possible loss of oil supply from Iran can be covered by the world’s stockpiles for at least a year, according to an official from the International Energy Agency (IEA). David Fyfe, head of the oil and industry markets division at the Paris-based IEA, noted that Iran produces between...
(EnergyAsia, May 18 2010, Tuesday) — The commodities market including oil is headed for more volatility on a clash of conflicting forces brought on, most notably, by rising demand in the developing countries and the rapid decline of the American and European economies. Crude oil has held between US$70 and $85 a barrel for nearly...
(EnergyAsia, May 18 2010, Tuesday) — Indonesia has failed to meet its oil production target in the first two months of this year as a result of rapid declines at several mature wells, according to the Oil and Gas Upstream Regulatory Body (Migas). Actual production amounted to 951,214 b/d against a target of 965,000 b/d...
(EnergyAsia, March 14) — Indonesia is targeting to produce between 275 million to 280 million metric tonnes of coal this year despite investment delays arising from uncertainty over mining regulations. Herman Heru Suprob, an Association of Indonesian Coal Mining Companies spokesman, said the industry is optimistic it will exceed last year’s production of 254 million...
(EnergyAsia, May 18 2010, Tuesday)—Saudi Arabia plans to open an oil storage facility in Japan as it shifts more of its crude export away from the declining developed markets in the US and Europe to Asia. The plan, which has been in discussion for some months, follows an agreement that the Abu Dhabi National Oil...
(EnergyAsia, May 18 2010, Thursday)—The world’s three largest oil consumers, the US, China and Japan, along with India and South Korea are set to meet in Seoul next month to map out a joint strategy to deal with oil supply disruptions. The strategy by the five countries, which account for 44% of the...
(EnergyAsia, May 17 2010, Monday) — India’s Essar Group said it has agreed to purchase the Aries coal mines in Indonesia’s East Kalimantan province, which hold an estimated base of 100 million tonnes of thermal coal and mineable reserves of 64 million tonnes. Essar did not reveal the purchase price. Located in the province’s Kutai...
(EnergyAsia, May 17 2010, Monday) — Japan’s Kyocera Corp said it will supply 9,000 solar modules for a total of 1.7 megawatts (MW) of capacity for the first stage of the Matsuyama solar power plant in Ehime Prefecture on Japan’s Shikoku Island. Planned by Shikoku Electric Power Co Inc with construction by Yonden Engineering Co...
(EnergyAsia, May 17 2010, Monday) — US investment bank JP Morgan has shut down its four-member Singapore-based Asian carbon trading and development operations and consolidating the business under recently acquired EcoSecurities. The bank has bought out carbon pioneer EcoSecurities, one of the largest investors in clean energy projects supported by the UN-run Clean Development Mechanism....
(EnergyAsia, May 17 2010, Monday) — The Russian government is seeking greater cooperation among the world’s leading natural gas producing and exporting countries to ensure that prices do not fall as sharply as they have over the past two years. Russia is interested in making the Gas Exporting Countries Forum, which is based in Qatar...
(EnergyAsia, May 17 2010, Monday) — The Chinese government has directed state energy firms to form consortia or avoid competing against each other when bidding for overseas oil and gas assets to ensure that they do not overpay or drive up prices of acquisition targets. The National Energy Administration and National Development and Reform Commission...
(EnergyAsia, May 14 2010, Friday) — Malaysia plans to identify 50 small- and medium-sized enterprises (SMEs) to take part in a project to commercialise biomass technology. Ahmad Zaharudin Idrus, chairman of the Biomass Industries in Malaysia Sustainable Production (Biomas-SP) Project, said that firms with a good track record would be groomed to build capacity...
(EnergyAsia, May 14 2010, Friday) — Shipowners and operators who violate greenhouse gas emissions levels set by the International Maritime Organization (IMO) and the shipping industry in 2012 may face fines of US$75 for each tonne of emissions above limit. The IMO said commercial vessels, which carry about 80% of the world’s goods, accounted for...
(EnergyAsia, May 14 2010, Friday) — Nasdaq-listed SunPower Corp said it began supplying Japan’s Toshiba Corp 32MW of high-efficiency solar panels from April. The panels are a vital component of Toshiba’s new residential solar offering in Japan. SunPower CEO Tom Werner said: “SunPower panels are particularly well suited to Japan’s residential market where the new...
(EnergyAsia, May 14 2010, Friday) — The Singapore government has stepped up its national drive to promote energy saving among the country’s largest consumers. Last month, three key agencies, the National Environment Agency (NEA), Energy Market Authority (EMA) and Economic Development Board (EDB), launched the Energy Efficiency National Partnership (EENP) programme to help industry improve...
(EnergyAsia, May 14 2010, Friday) — Sri Lanka’s investment promotion agency said it has approved a company’s application to invest in two mini-hydro power plants worth a total of US$8.78 million. The Board of Investment (BOI) said the investors will be given tax breaks and concessions like duty free raw material and machinery imports. The...
(EnergyAsia, May 14 2010, Friday) — The International Monetary Fund (IMF) has issued a staff paper proposing the setting up a new green fund to invest US$100 billion a year by 2020 to help developing countries finance the costs of combating climate change. The paper’s authors, economists Hugh Bredenkamp and Catherine Pattillo, suggest that creation...
(EnergyAsia, May 14 2010, Friday) — China Hydroelectric Corporation (CHC), a developer and operator of small hydroelectric power projects, said it has completed the full acquisition of the 19MW Husahe Project in China’s Yunnan province for RMB106 million. (US$1=RMB6.82). The company said it paid a combination of cash and a seller note, all or a...
(EnergyAsia, May 14 2010, Friday) — Indonesia’s President Susilo Bambang Yudhoyono said his country will aim to generate 9,500 megawatts (MW) or 5% of its total energy needs from tapping geothermal power trapped beneath volcanoes. Indonesia, which has 265 volcanoes, currently generates 1,200 MW of electricity from geothermal sources out of an estimated potential...
(EnergyAsia, May 13 2010, Thursday) — The Asian Development Bank (ADB) said its board has approved investment in a 73-megawatt solar power plant in Lopburi province in central Thailand. The plant, likely to be one of the largest solar photovoltaic projects in the world, will be central to Thailand’s efforts to generate much more of...