(EnergyAsia, September 26 2013, Thursday) — Indonesia will become the world’s biggest gasoline importer by 2018 while Saudi Arabia’s new 400,000 b/d refinery in Jubail will add to Asia’s diesel glut when it starts up in the coming weeks, according to separate analyses by two consultants. Indonesian demand will exceed the combined gasoline consumption of...
(EnergyAsia, September 25 2013, Wednesday) — Nasdaq-listed L & L Energy Inc, which owns and operates coal mines and trades in China, is preparing to fight allegations by an article on a website on September 19 that it might have violated US federal securities laws. The Seattle, Washington state-based firm immediately responded by describing GeoInvesting’s...
(EnergyAsia, September 25 2013, Wednesday) — China National Petroleum Corp (CNPC) is on course to tap Russia’s enormous natural gas reserves after securing two major deals earlier this month made in large part by the growing rivalry between Gazprom and Novatek to supply the Chinese market. Gazprom is expected to soon start the construction of...
(EnergyAsia, September 24 2013, Tuesday) — Seeking to free up the country’s vast domestic coal reserves to meet its rising power demand, India’s Supreme Court wants the government to clarify and dismantle its opaque 20-year system of allocating coal blocks for development. Despite having one of the world’s largest coal reserves, India is increasingly relying...
(EnergyAsia, September 23 2013, Monday) — Having recently plunged to a record low, the share price of Coal India Limited (CIL) will continue to struggle amid continuing doubts over its ability to meet its production and operating targets for the year. CIL’s share price fell to 238.35 rupees on August 30, below its offer price...
(EnergyAsia, September 20 2013, Friday) — Papua New Guinea is set to become the world’s latest liquefied natural gas (LNG) producer and exporter with operator ExxonMobil affirming its plan to complete and start up a US$19 billion plant near the city port of Port Moresby in the second half of next year. Operator Esso Highlands...
(EnergyAsia, September 19 2013, Thursday) — As oil-rich Alberta province steps up its courtship of Chinese investment, Canada’s Toronto Stock Exchange (TSX) became the third international exchange after the main ones in New York and Hong Kong to trade the shares of China’s oil and gas major CNOOC Limited. China’s largest offshore oil producer had...
(EnergyAsia, September 18 2013, Wednesday) — China will provide more than US$3 billion in credits for neighbour Kyrgystan to develop energy projects including US$1.4 billion for the construction of a 225-km transit pipeline to export natural gas from Central Asia. The deal was announced last week during a meeting between Kyrgyz President Almazbek Atambayev and...
(EnergyAsia, September 17 2013, Tuesday) — Bangladesh’s Omera Fuels Limited expects to soon start up its newly completed fuel storage terminal at Guptakhal in the port city of Chittagong to ensure feedstock supply to the country’s power plants. The company, a joint venture between state-owned Jamuna Oil Company and EC Securities Limited, an investment wing...
(EnergyAsia, September 17 2013, Tuesday) — South Korea has landed another important agreement to store crude oil for a Middle Eastern producing country with the promise of first right of access in the event of an emergency supply cut-off. Starting next year, Iraq will store about four million barrels of its crude oil with state...
(EnergyAsia, September 16 2013, Monday) — State-owned Coal India (CIL) plans to establish 16 washeries through its subsidiaries to increase the supply of processed fuel for ready use in power stations across the country, said the Coal Ministry. The industry, however, is reacting with caution as the announcement, did not provide details of the programme...
(EnergyAsia, September 13 2013, Friday) — Kazakhstan’s Kashagan oilfield, dubbed the world’s most expensive energy project after an estimated US$50 billion investment, started production this week, eight years behind original schedule. Spread over a 45km by 75 sq km area in shallow waters in Kazakhstan’s share of the Caspian Sea, the world’s largest oilfield outside...
(EnergyAsia, September 12 2013, Thursday) — Indonesia’s coal miners are hoping the impending loss of demand from India might be partly offset by continued buying from China which recently imposed a 3% tax on low quality coal imports from suppliers outside Southeast Asia. India and China are major coal users and importers as they both...
(EnergyAsia, September 11 2013, Wednesday) — China’s state oil companies are showing different responses to events in the world’s most troubled region, with Sinopec buying into an upstream project in Egypt while it and others have left Syria as conflict rages in the two countries and beyond. Sinopec, short for China Petroleum & Chemical Corp,...
(EnergyAsia, September 11 2013, Wednesday) — Malaysians appear to have accepted last week’s unpopular fuel price hikes despite the prospect of higher inflation in coming months. Most appear to agree with the government’s decision to save RM3.3 billion next year by raising fuel prices by RM0.20 per litre as part of a plan to gradually...
(EnergyAsia, September 10 2013, Tuesday) — With the resounding September 7 election of a new Australian government under conservative Tony Abbott, the mining lobby has won a protracted battle to repeal the controversial carbon tax implemented by the previous Labour Party administration. The tax, proposed and implemented by Kevin Rudd and Julia Gillard who took...
(EnergyAsia, September 9 2013, Monday) — While the West continues its debate on whether to go to war against Syria, China wrapped up major oil and gas deals with Russia, Kazakhstan and its leading natural gas supplier, Turkmenistan, the the past week. Chinese President Xi Jinping launched his hectic schedule with a two-day trip to...
(EnergyAsia, September 6 2013, Friday) — The economy of resource-rich Kyrgyzstan will grow by around 7.4% this year, reversing a 0.9% contraction last year, said the International Monetary Fund (IMF). The landlocked Central Asian state was dealt a major setback last year when its largest investor, Canada’s Centerra Gold, slashed production by 70% following a...
(EnergyAsia, September 6 2013, Friday) — In the on-going battle over control of Vietnam’s vital coal industry, state trader Vinacomin has won the latest round against the power industry and the country’s business groups. The Finance Ministry has acceded to demands by Vinacomin, the country’s main coal exporter, to reinstate the previous 10% tax rate...
(EnergyAsia, September 5 2013, Thursday) — The Chinese government has taken its widening campaign against corruption to the powerful oil industry, implicating senior executives from state-owned companies and their contacts. The Communist Party has relieved Jiang Jiemin, a former chairman of China National Petroleum Corp (CNPC) and President of PetroChina, of his positions as director and...
(EnergyAsia, September 4 2013, Wednesday) — In separate analyses, two environmental lobby groups have accused the palm oil sector and its leading members of destroying Indonesia’s sizeable rainforests and causing record air pollution in Southeast Asia The industry was the single largest driver of deforestation in Indonesia between 2009 and 2011, accounting for about a...
(EnergyAsia, September 4 2013, Wednesday) — Ghana’s trade with China, now larger than its dealings with the US, is on course to exceed last year’s record US$5.43 billion in coming years as the African state ramps up oil production and exports. Ghana, which only began producing oil in 2010, has been a major recipient of...
(EnergyAsia, September 3 2013, Tuesday) — Canada’s SouthGobi Resources Ltd is looking to revive the fortunes of its Mongolia-focused coal activities after announcing an end to investment dispute with local state agencies with the receipt of three pre-mining agreements. The share price of the Toronto-listed company has been in steep decline over the last two...
(EnergyAsia, September 3 2013, Tuesday) — Manila Electric Co (Meralco) said its power generation subsidiary and Thailand’s Electricity Generating Public Co Ltd (EGCO) have agreed to jointly develop a 460MW coal-fired power plant in Quezon province in the Philippines. In a statement to the Philippine Stock Exchange, the utility said Meralco Powergen Corp will own...
(EnergyAsia, September 2 2013, Monday) — The world will continue to rely heavily on coal for its energy need despite calls and predictions for its demise, said consultant Frost & Sullivan. In Europe, coal-based power generation is undergoing a revival after appearing to be in terminal decline the last decade. This is happening despite the...