(EnergyAsia, December 31, Thursday) — State-owned China Petroleum and Chemical Corporation (Sinopec) expects its overseas crude oil output to have reached 17 million tonnes last year, thanks to a late boost from its US$7.9 billion acquisition of Geneva-based Addax Petroleum Corp in August. Addax, which owns and operates proven oil fields in Iraq’s Kurdistan and...
(EnergyAsia, December 30, Wednesday) –– Singapore’s Senoko Power said a Japanese consortium has started work on the second stage of a repowering project according to an engineering, production and construction (EPC) contract awarded in September last year. The consortium, comprising Mitsubishi Corporation, Mitsubishi Heavy Industries and Hitachi Asia, will begin onsite work to convert three...
(EnergyAsia, December 30, Wednesday) — Singapore-listed oil and gas services provider KS Energy Services has decided to undertake the overdue consolidation of its distribution businesses into a new $320 million entity called KS Distribution. (US$1=S$1.4). KS Energy will acquire the shares of 54.1%-owned subsidiary, Aqua-Terra Supply Co (ATS), and associate, SSH Corporation (SSH), with the...
(EnergyAsia, December 30, Wednesday) — A leading Indian think tank said the country has only 45 years of commercially exploitable coal reserves, not 200 years as widely assumed by the government and the industry. In a report on India’s energy security, The Energy and Resources Institute (TERI) of New Delhi downgraded the country’s coal reserves...
(EnergyAsia, December 30, Wednesday) — The Thai government is poised to terminate an oil and gas exploration deal with Cambodia amid a worsening row over Phnom Penh’s appointment of fugitive Thai prime minister Thaksin Shinawatra as an economics adviser. The exploration deal had been signed in 2001 during Thaksin’s administration and called for the two...
(EnergyAsia, December 30, Wednesday) — The Singapore government has announced plans to build a power station in the eastern part of the country as part of several new mid- to long-term projects for the energy industry. The government has released land along Lorong Halus in Tampines for the planned power station, which is expected to...
(EnergyAsia, December 30, Wednesday) — Listed independent oil player Phoenix Petroleum Philippines Inc said it has set aside 500 million peso in capital expenditures next year to expand its retail network and set up storage and logistics support facilities. (US$1=46.5 peso). The company is looking to put up between 40 and 50 retail stations nationwide...
(EnergyAsia, December 30, Wednesday) — The Indian government is planning to increase the country’s crude oil stockpile by five million tonnes to 8.5 million tonnes by 2012. State-owned Indian Strategic Petroleum Reserve Limited will increase the storage capacity of underground rock caverns at Visakhapatnam, Mangalore and Padur. The cost of building the additional capacity and...
(EnergyAsia, December 29, Tuesday) — The massive explosion and fire at the storage facility of Caribbean Petroleum Corp at San Juan in Puerto Rico last October was caused by a fuel leak rather than sabotage, according to the US Federal Bureau of Investigation. The fuel leak occurred when one of the huge storage tanks at...
(EnergyAsia, December 29, Tuesday) — Planned onshore tank farms in the southern Malaysian state of Johor could become a long-term source of competition for a floating storage terminal being considered in Singapore. State industrial landlord JTC Corp is expected to complete by next March its study on setting up the very large floating structure (VLFS)...
(EnergyAsia, December 29, Tuesday) — India’s official crude oil stockpile has reached 74 days of consumption, still below the 90 days recommended by the International Energy Agency as the minimum needed to counter supply disruptions. “We have crude oil reserve for 74 days in our strategic reserve meant for emergency situations like war or natural...
(EnergyAsia, December 29, Tuesday) — The following is an edited version of an article by Philip H. de Leon of www.OilPrice.com. On December 14, 2009, the presidents of China – Hu Jintao, Turkmenistan – Gurlanguly Berdymukhamedov, Kazakhstan – Nursultan Nazarbayev, and Uzbekistan -Islam Karimov, inaugurated the Central Asia–China gas pipeline that links Turkmenistan’s natural gas...
(EnergyAsia, December 29, Tuesday) — Japanese oil refiner Nippon Oil Corp and Nippon Mining Holdings Inc said they plan to slash 400,000 b/d or 20% of their combined refining capacity when they complete their proposed merger by March 2011. Three refineries have been targeted for a complete shutdown, while a fourth plant will be reduced...
(EnergyAsia, December 29, Tuesday) — China National Petroleum Corp (CNPC) said it has secured the exclusive rights to build and operate a 771-km pipeline to deliver crude oil from an island off western Myanmar to Yunnan province in China. The company said Myanmar’s Energy Ministry officially signed the documents last week that granted the operating...
(EnergyAsia, December 29, Tuesday) — Bharat Oman Refineries Ltd (BORL) expects to start up its 120,000 b/d oil refinery in Bina in central India next August. Most of the new plant’s units will be ready by mid-April, but its hydrocracker will only start operating in August. The refinery will help state-owned Bharat Petroleum...
(EnergyAsia, December 28, Monday) — Saudi Ports Authority (SPA) has secured contracts with three companies, Saudi National Industrialization Company, Advanced Petrochemical Company and Saudi International Petrochemical Company (Sipchem), to store and export petrochemicals from Jubail Commercial Port. SPA’s President, Khaled bin Ahmed Bubshait, signed the contracts with representatives of the three companies last month. Saleh...
(EnergyAsia, December 28, Monday) — Esso Highlands Limited, an ExxonMobil subsidiary, has awarded two separate engineering, procurement and construction (EPC) contracts for the development of a 6.6-million-tonne-per-year (t/y) LNG plant in Papua New Guinea comprising two trains and facilities for inlet processing, treating, liquefaction, storage and loading. A consortium comprising Chiyoda Corp and JGC Corp,...
(EnergyAsia, December 28, Monday) — Papua New Guinea, one of Asia’s poorest countries, is preparing for an economic lift-off in the coming decade after an ExxonMobil-led consortium approved the development of a $15 billion project to produce and export liquefied natural gas (LNG) to the region’s fast-growing economies. The project will triple Papua New Guinea’s...
(EnergyAsia, December 28, Monday) — South Korea’s engineering firm Daewoo E&C said it has begun work on a $1.7 billion engineering, procurement, and construction (EPC) contract to build 76 oil storage tanks for the Ruwais oil refinery in Abu Dhabi. The Abu Dhabi Oil Refining Company (Takreer) awarded the contract as part of a $10-billion...
(EnergyAsia, December 28, Monday) — Singapore-listed BH Global Marine is aiming to expand into Myanmar’s oil and gas industry through a joint venture it has just established with two businessmen from that country. BH Global Marine, which supplies premium lightings, cables and electrical equipment to the marine, oil and gas industries, said businessmen Shwe Nyan...
(EnergyAsia, December 28, Monday) — Dutch oil and chemical storage specialist Royal Vopak said it has signed a memorandum of understanding with the Zamil Group of Saudi Arabia to develop a joint venture company to serve the Middle East and North Africa (MENA) region. The joint venture aims to develop independent bulk liquid and liquefied...
(EnergyAsia, December 28, Monday) — Dutch oil terminal operator Vopak Horizon Fujairah Limited has tied up with Higher Colleges of Technology-Fujairah (HCT) to offer a training programme in fuel storage. The programme, believed to be the first in the Middle East, will be executed and organised by the HCT, and will be open to UAE...
(EnergyAsia, December 24, Thursday) — Coal India Limited (CIL), the country’s largest coal miner, is under pressure to step up production on growing fears that India will face more power shortages as its power companies are unable to procure enough coal for fuel. A Parliamentary panel wants the government to allocate 138 new coal blocks...
(EnergyAsia, December 24, Thursday) — Royal Dutch Shell has backed out of a proposed $9 billion joint refinery-petrochemical project in China with China Petroleum and Chemical Corp (Sinopec) and Kuwait Petroleum Corp (KPC). KPI, which oversees KPC’s international downstream marketing operations, said Shell’s pullout will have no impact on its plans to proceed with project...
(EnergyAsia, December 24, Thursday) — State-run Coal India (CIL) will invest Rs25 billion to set up 20 new washeries by 2017 to improve the quality of coal, said Coal Minister Sriprakash Jaiswal. The 20 washing plants will have a total capacity to treat 111.1 million tons of coal per year. They include seven plants worth...