(EnergyAsia, October 21, Wednesday) — China’s refiners are planning to raise their crude processing capacity by 60% to more than 11 million b/d by 2015, said the country’s main oil and chemical association. The industry is hoping to raise its refining capacity from more than eight million b/d last year to 8.9 million by 2011,...
(EnergyAsia, October 20, Tuesday) — China’s state-owned Yanzhou Coal Mining Co is still interested to acquire Australian coal producer Felix Resources despite facing stiff regulatory hurdles. In August, Yanzhou announced it had agreed to pay A$3.5 billion or A$18 a share, including a dividend and stock in a spin-off unit, valuing the acquisition at A$3...
(EnergyAsia, October 20, Tuesday) — US-based Air Products said it will supply Air Products’ proprietary liquefied natural gas (LNG) process technology and equipment for an LNG project in Yinchuan in China. Air Products said its technology will be vital for two liquefaction trains each producing 400,000 tons per year of LNG for the Ningxia Hanas...
(EnergyAsia, October 20, Tuesday) — First Reserve Corporation, a leading US-based private equity firm specialising in the energy industry, said it has committed to an equity investment of up to US$500 million in KrisEnergy Holdings Ltd, a newly established oil and gas company building a portfolio of exploration, development and production assets in Asia. Singapore-based...
(EnergyAsia, October 20, Tuesday) — Australia’s leading science agency, CSIRO, said it will be working with the China Geological Survey (CGS) of the Ministry of Land and Resources to introduce its set of geological technology to the Chinese market. CSIRO recently signed a memorandum of understanding (MoU) with CGS following their collaboration in several successful...
(EnergyAsia, October 20, Tuesday) — IFC, a member of the World Bank Group, said it has signed a memorandum of understanding (MOU) with Japan’s Mitsubishi UFJ Lease & Finance Co Ltd to jointly finance projects that help reduce greenhouse gas emissions and environmental pollution in Asia’s developing countries. The two institutions will focus primarily on...
(EnergyAsia, October 20, Tuesday) — The Asian Development Bank (ADB) has raised its forecast for India’s economy to grow by 6% this year, up from its earlier call for a 5% expansion. Next year’s growth will accelerate to 7%, said the bank in its Asian Development Outlook report for 2009. It attributed this year’s better...
(EnergyAsia, October 20, Tuesday) — State-owned VietNam National Coal and Minerals Industries Group (Vinacomin) has raised its 2009 coal production target by three million tonnes to 43 million tonnes to help meet rising domestic demand. However, the company would be hard pressed to meet its target as its first half output fell 5% year-on-year to...
(EnergyAsia, October 19, Monday) — France’s Total said it has agreed to acquire US major ExxonMobil’s lubricants and specialties business in Vietnam which includes a lubricants blending facility in the southern Dong Nai province and a nationwide lubricants distributor network. Upon successful completion of this transaction, Total said it will significantly increase its market share...
(EnergyAsia, October 19, Monday) — Singapore’s Sembcorp Marine said its wholly owned subsidiary, Jurong Shipyard, has delivered a second ultra-deepwater semi-submersible rig, the Ocean Valor, on schedule to Diamond Offshore Drilling Limited. On September 30, 2009, Diamond Offshore Drilling Limited acquired from PetroRig II Pte Ltd the construction contract to purchase the newbuild, 7,500-foot, dynamically...
(EnergyAsia, October 19, Monday) — NYSE-listed coal company Peabody Energy said it has opened an office in Singapore to serve its activities in Southeast Asia and expand its access to high-growth seaborne coal markets. Peabody said its Singapore office will be headed by Phillip V. Smith, who has been named managing director of Asian Trading,...
(EnergyAsia, October 19, Monday) — Philippines’ Department of Energy (DOE) secretary Angelo T. Reyes said ExxonMobil Exploration and Production Philippines BV, a unit of the US major, has begun exploring for oil and gas in the South Sulu Sea. The company is the operator of ‘Service Contract 56’ (SC-56) alongside partners Mitra Energy Limited and...
(EnergyAsia, October 19, Monday) — Qatar’s has exported its first liquefied natural gas (LNG) cargo to China, according to Chinese news reports. The 217,000-cubic metre A1 Ghariya vessel delivered the LNG to the CNOOC-operated Dapeng import terminal in Guangdong last week. Qatargas has a contract to supply two million tons of LNG a year to...
(EnergyAsia, October 19, Monday) — Vietnam may not achieve its goal of exporting three million tonnes of coal this year after it reported selling only 13.5 million tonnes for the year to July. Reflecting the weakened economic environment for most of 2009, its coal export volume to the main markets of China, Japan, Thailand, India,...
(EnergyAsia, October 19, Monday) — Developing Asia should broaden the scope and structure of its openness to reduce its vulnerability to external shocks, said the Asian Development Bank (ADB). In its recent Asian Development Outlook (ADO) 2009 report, the ADB said the 1997-98 financial crisis and the current global economic crisis exposed the region to...
(EnergyAsia, October 16, Friday) — Eden Energy Ltd said it has signed an agreement for Origin Energy Ltd, a major Australian energy utility, to farm-in to its Cooper Basin Geothermal Licence No. 185 in South Australia state. The agreement is conditional upon approval by the South Australian government. Origin will pay Eden A$1 million cash...
(EnergyAsia, October 16, Friday) — China Oilfield Technology Services, a Singapore Exchange-listed provider of integrated tertiary oil recovery equipment and technology to enhance oil extraction, said it has received shareholders’ approval to invest RMB457.2 million to produce submersible linear motor pump units. (US$1=RMB6.8). The company said shareholders attending an extraordinary general meeting unanimously voted for...
(EnergyAsia, October 16, Friday) — Indonesian state-owned port operator PT Pelindo II plans to have a new oil and gas terminal built at Jakarta’s Tanjung Priok port by 2012. Executives of Pelindo and state oil firm Pertamina are expected to meet this month to finalise the deal. An executive of Pelindo, which runs the strategic...
(EnergyAsia, October 16, Friday) — Singapore Exchange-listed upstream company Ramba Energy Limited said it and its partners, PT Hexindo Gemilang Jaya and Super Power Enterprises Group Limited, have enlisted the help of state-owned PetroChina to find oil and gas in its Lemang exploration block in Indonesia. The block is located in the Jambi and Riau...
(EnergyAsia, October 16, Friday) — Australian upstream company Santos said its Oyong Phase 2-operated field located off Madura Island in Indonesia’s East Java has begun producing natural gas. The company, which holds a 45% stake through Santos (Sampang) Pty Ltd, started oil production in September 2007 and has produced over four million barrels to date....
(EnergyAsia, October 16, Friday) — Singapore Exchange-listed China Auto Corporation Ltd (CAC) said it is effectively raising its stake in fuel technology company Neftech Pte Lte to 23.9% from 4.9% by issuing 475 million ordinary shares of CAC at 9 Singapore cents a share to Neftech shareholder.(US$1=S$1.39). The automotive moulds and moulded parts-maker has also...
(EnergyAsia, October 16, Friday) — Finland’s Wärtsilä said it has won a 57-million euro contract to supply Lihir Gold Limited, a leading global gold company, a barge-mounted power plant to serve a mining operation in Papua New Guinea. (US$1=0.67 euro). Wärtsilä, a leading supplier of flexible power plants for the decentralised power generation market, said...
(EnergyAsia, October 16, Friday) — Chemoil, a Singapore Exchange-listed marine fuel supplier, said it has hired Teng Chee Keong for its trading team, focusing on the company’s Middle East and Asian operations. Mr Teng, who will be based in Singapore, will strengthen Chemoil’s position in Fujairah and Singapore – two of the world’s top three...
(EnergyAsia, October 15, Thursday) — Meeting the world’s growing energy needs while managing the risks of climate change will require the development of all viable sources of energy and policies that support business investment and technology development, said Rex Tillerson, chairman and CEO of Exxon Mobil Corporation. “Our best hope is to harness the power...
(EnergyAsia, October 15, Thursday) — Norway’s Wallenius Wilhelmsen Logistics (WWL) recently observed World Maritime Day as it maintained its role as sole sponsor of the World Wildlife Fund’s (WWF) High Seas Conservation Programme for the fifth consecutive year. The logistics specialist’s financial and organisational assistance enables the WWF to champion reductions in greenhouse gas emissions,...