(EnergyAsia, April 10 2013, Wednesday) — A public listing of state-owned Coal India Limited (CIL) could help the Indian government raise as much as 200-billion rupees and pave the way for the company to eventually raise prices and reduce fuel subsidies to the public. (US$1=55 rupees). The share offer is the latest, and probably most...

(EnergyAsia, April 10 2013, Wednesday) — Asia must reduce consumption as it is moving along “a dangerously unsustainable energy path that will result in environmental disaster and a gaping divide in energy access between rich and poor unless the region dramatically changes course,” said a new Asian Development Bank (ADB) report. In releasing the report,...

(EnergyAsia, April 9 2013, Tuesday) — Two Russian firms, En+ Group and Mechel, recently secured separate coal agreements with Chinese firms. En+ Group has signed a US$2 billion deal with China’s Shenhua Group and China Development Bank to develop coal resources in Siberia and the far eastern region of Russia. The agreement was part of...

(EnergyAsia, April 9 2013, Tuesday) — Citing the poor quality of coal it is receiving, India’s largest power generating company NTPC has refused to sign an overdue fuel supply agreement with the country’s main coal mining firm. NTPC has been openly criticising Coal India Ltd (CIL) for supplying sub-standard coal that could jeopardise the performance...

(EnergyAsia, April 9 2013, Tuesday) — State-owned Sinopec Group said a subsidiary is planning to invest 70 billion yuan to build China’s largest plant in northwestern Xinjiang region to convert coal to natural gas over the next decade. (US$1=6.2 yuan). Sinopec Xinjiang Energy Chemical Co Ltd will develop the proposed project in Zhundong to produce...

(EnergyAsia, April 8 2013, Monday) — The Indian government is looking to emulate the strategy of its East Asian rivals by providing full state support and participation alongside private companies to acquire global energy assets. The move is reportedly under serious consideration as New Delhi is frustrated by Indian companies’ apparent inability to compete for...

(EnergyAsia, April 8 2013, Monday) — India’s oil minister has disputed media reports by insisting that his country would continue to import crude oil from Iran, further casting doubts on the effectiveness of Western trade sanctions against the Islamic regime. Petroleum and Natural Gas Minister M. Veerappa Moily said the Indian government would protect the...

(EnergyAsia, April 8 2013, Monday) — India’s economic prospects have significantly dimmed as a result of rising inflation, widespread electricity shortages, a persistent infrastructure deficit, and constraints on the government’s ability to ease monetary policy, said the International Monetary Fund (IMF). In a recent country update on India, the IMF said the economy is expected...

(EnergyAsia, April 5 2013, Friday) — The Vietnamese government has suspended the development of a proposed 8-trillion-dong coal handling terminal at the Ke Ga deepwater port in Binh Thuan province. (US$1=21,000 dong). No reason was given but state-owned Vietnam National Coal and Mineral Industries Group (Vinacomin) which has been working on the project since 2009...

(EnergyAsia, April 4 2013, Thursday) — Sri Lanka’s state Ceylon Electricity Board is planning to build a 500 MW coal-fired power plant in the country’s southwestern coast, said Power Minister Pavithradevi Wanniarachchi. The Sri Lankan government is looking to Japan to provide both the funds and technology for the proposed plant at Ahuruwella in Induruwa....

(EnergyAsia, April 4 2013, Thursday) — State-owned Coal India Limited (CIL) is working with the railways and coal ministries to increase the country’s rail coal-carrying capacity. As part of a long-term solution to ensure prompt delivery of coal supplies to power plants across India, CIL said it is also planning to invest US$1.4 billion to...

(EnergyAsia, April 4 2013, Thursday) — From the April 2013 issue of EnergyAsia Report: Depending on who’s telling the story, the world is either headed for a bleak conflict-ridden future of scarce, unaffordable oil and gas supplies, or it will be glutted for decades as major countries become energy superpowers by exploiting their newly-discovered huge...

(EnergyAsia, April 3 2013, Wednesday) — Under pressure from the Indian government, state-owned Coal India Limited (CIL) has agreed to accept production and supply targets for the current financial year ending March 31 2014 which it is not confident of achieving. The embattled company which accounts for more than 80% of India’s coal production has...

(EnergyAsia, April 3 2013, Wednesday) — The Chinese government has approved state-owned China National Petroleum Corp’s (CNPC) proposed venture with Royal Dutch Shell to jointly develop shale gas in Sichuan province, paving the way for the European major to invest US$1 billion in the country’s huge unconventional hydrocarbon reserves. According to their contract signed last...

(EnergyAsia, April 3 2013, Wednesday) — China sharply boosted its domestic crude oil and natural gas reserves last year as a result of making new finds, said the country’s Ministry of Land and Resources. The ministry said China raised its crude oil reserves by 13% to 1.52 billion tonnes and natural gas by 33% to...

(EnergyAsia, April 2 2013, Tuesday) — China’s electricity consumption growth is expected to accelerate to 7.5% this year compared with 5.5% in 2012, reflecting a pick-up in economic expansion, said the China Electricity Council. In a recent update, the council predicts China will consume about 5,330 billion kWh in 2013 compared with 4,960 billion kWh...

(EnergyAsia, April 1 2013, Monday) — Indian Oil Corp’s (IOC) is expected to complete the construction of a new oil refinery in the eastern state of Odhisa, previously known as Orissa, by November, said the country’s Minister of State for Petroleum Panabaaka Lakshmi. In a written statement to Parliament, she said the completion of the...

(EnergyAsia, April 1 2013, Monday) — The Organisation of Petroleum Exporting Countries (OPEC) has kept its latest forecast for 2013 world oil demand almost unchanged at 89.67 million b/d compared with 89.68 million b/d previously. In its March report, the cartel expects world oil demand to rise by 840,000 b/d or 0.94%, about the same...

(EnergyAsia, April 1 2013, Monday) — Singapore state investment firm Temasek Holdings said it recently paid 1.036 billion euros to raise its stake in Spain’s largest oil and gas company Repsol from 1.25% to 6.3%. (US$1=0.78 euro). Temasek paid 16.01 euro a share for the 64.7 million Repsol treasury shares. The Spanish firm now accounts...

(EnergyAsia, March 28 2013, Thursday) — China Petroleum & Chemical Corp. (Sinopec) and South Africa’s state-owned PetroSA have signed a framework agreement to build Africa’s largest oil refinery with a 400,000 b/d processing capacity. The agreement for the US$10 billion project to be developed in Port Elizabeth’s Coega industrial zone was signed in Pretoria in...

(EnergyAsia, March 28 2013, Thursday) — China’s February oil demand rose 1.9% over the same month last year to an average 10.19 million b/d, said US energy media Platts. In an analysis of Chinese government data, Platts said the latest data represented a slow-down in the 6.7% growth reported in January. It attributed the slower...

(EnergyAsia, March 27 2013, Wednesday) — China’s largest oil refiner, China Petroleum & Chemical Corp, or Sinopec Corp, has agreed to form an equal joint venture with its parent firm, Sinopec Group, to take over some of the latter’s upstream assets for a total of US$3 billion. The move is aimed at beefing up Sinopec...

(EnergyAsia, March 26 2013, Tuesday) — The following is an edited version of an analysis by the US Energy Information Administration (EIA) on the hydrocarbon reserves and development in the South China Sea. Note: Reserve totals do not include Gulf of Thailand or onshore reserves. Reserve estimates are based on field ownership status. Sources: EIA,...

(EnergyAsia, March 26 2013, Tuesday) — Don’t tell the oil industry about the gloom and doom afflicting the global economic condition. Global oil consumption will still reach a new record high of 90.6 million b/d this year, notwithstanding the continuing economic turmoil in Europe and Japan, and calls for slower growth in China and the...

(EnergyAsia, March 26 2013, Tuesday) — Russia has opened the door for Chinese firms to participate in the development of its coveted Arctic oil and gas reserves, further raising bilateral ties in the wake of last week’s successful meeting between the Presidents of the two countries. China, the world’s largest energy consumer, has the cash...