(EnergyAsia, March 8 2013, Friday) — A minority shareholder of Coal India Limited (CIL) has formally demanded that the embattled state-owned company fire its chairman and managing director, S. Narsing Rao. UK-based hedge fund TCI has written to demand Mr Rao “be immediately replaced with someone who can run CIL professionally,” complaining that he has...

(EnergyAsia, March 7 2013, Thursday) — In anticipation of further export increases to Asia, Canada’s Port Metro Vancouver has approved a C$200 million expansion of its coal handling capacity that will help make it the largest in North America. (US$1=C$1.03). The port will more than double its Neptune Bulk Terminals’ current capacity to export 8.5...

(EnergyAsia, March 6 2013, Wednesday) — China, Australia, US, Indonesia and Russia are projected to maintain their 97% share of coal production in the 21-member Asia Pacific Economic Cooperation (APEC) region through 2035. According to APEC’s latest fifth edition of its energy demand and supply outlook, China will remain the group’s and the world’s largest...

(EnergyAsia, March 5 2013, Tuesday) — Despite growing at its slowest rate in recent years, Chinese coal production still hit a new high of 3.65 billion tons last year, said the National Development and Reform Commission (NDRC). The country’s miners were able to raise production by 3.8% over 2011 levels in the face of weaker...

(EnergyAsia, March 5 2013, Tuesday) — With energy security a growing concern, India’s state oil and gas companies have boosted their investment spending plans by 2.9% to 790,522 billion rupees for the current financial year to March 31 2014. (US$1=55 rupees). Upstream company ONGC will have the largest budget, drawing on internal resources to invest...

(EnergyAsia, March 5 2013, Tuesday) — Russian gas monopoly Gazprom said it and China’s CNPC are aiming to conclude protracted talks for a gas supply deal before the end of the year. With China exploring options to import liquefied natural gas (LNG) from North America and Africa, expand existing agreements with Australia as well as...

(EnergyAsia, March 4 2013, Monday) — Australia’s Whitehaven Coal has blamed weak commodity prices and a strong local currency for its first half loss of A$47 million, reversing a profit of A$19.9 million for the same period the previous year. (US$1=A$1.03). The company also blamed a rail outage at its Narrabri mine in New South...

(EnergyAsia, March 4 2013, Monday) — US oil production climbed to a 20-year high of more than seven million b/d in the last two months of 2012, said the Energy Information Administration (EIA). The agency attributed the surge to the revolution in exploiting unconventional and shale reserves in the states of North Dakota and Texas,...

(EnergyAsia, March 4 2013, Monday) — US upstream company ConocoPhillips is looking to reduce its stakes in the Australia Pacific LNG (APLNG) project in Queensland state as well as its oil sands activities in Canada to focus on developing shale reserves in the US. At last Thursday’s briefing for analysts and investors, CEO Ryan Lance...

(EnergyAsia, March 1 2013, Friday) — Two leading Japanese upstream companies looking to expand in Canada have joined other foreign investors in expressing their concerns over hurdles they face to build projects to export oil and gas to Asia. At last month’s inaugural international LNG conference in Vancouver, state-backed INPEX and Mitsubishi Corp’s Diamond Gas...

(EnergyAsia, February 28 2013, Thursday) — To the delight of Asia’s energy-importing countries paying the world’s highest fuel prices, the International Energy Agency (IEA) has thrown its considerable weight behind the region’s growing call for reforms to pricing of the international natural gas trade. In a report, “Developing a Natural Gas Trading Hub in Asia”,...

(EnergyAsia, February 27 2013, Wednesday) — Iran has started up a new oil products storage terminal in the southeastern city of Kerman. The National Iranian Oil Products Distribution Company, a subsidiary of state NIOC, invested more than US$50 million to develop the 350,000-cubic metre terminal to store gasoline, jet fuel, kerosene and diesel. According to...

(EnergyAsia, February 27 2013, Wednesday) — The US Energy Information Administration (EIA) has revised upwards its forecast for world oil demand growth for 2013 and 2014, reflecting improving economic conditions. In its February short-term energy outlook report, the agency said it expects world oil consumption, led by developing Asia, to rise by 1.18% to 90.21...

(EnergyAsia, February 26 2013, Tuesday) — China will double its overseas 2011 oil production to three million b/d by 2015, thanks to its relentless drive to invest in oil and gas assets in producing countries, said the International Energy Agency (IEA). By then, China’s overseas production place it in the world’s top 10 oil producers...

(EnergyAsia, February 26 2013, Tuesday) — Energy-short Japan is convinced that Saudi Arabia will remain a reliable and stable supplier of crude oil in the event of production disruptions and emergencies, said Economy, Trade and Industry Minister Toshimitsu Motegi following his recent visit to the kingdom and Abu Dhabi. Japan is calling on old favours...

(EnergyAsia, February 25 2013, Monday) — Prodded by Russian President Vladimir Putin, state gas monopoly Gazprom said it has made a final investment decision to build a liquefied natural gas (LNG) project on the Pacific Coast targeting export to Asia. The company said it will build an export terminal along Perevoznaya Bay on the Lomonosov...

(EnergyAsia, February 25 2013, Monday) — Stunned by the country’s rising energy import bill, the Japanese government will soon offer one trillion yen in loan guarantees to back investments in liquefied natural gas (LNG) projects. Industry minister Toshimitsu Motegi announced the plan last week as Japan’s economy continues to struggle under the weight of an...

(EnergyAsia, February 22 2013, Friday) — The estimated cost of yet another proposed export-oriented liquefied natural gas (LNG) project in Australia has been raised. Due to increased community consultations and worries over water contamination, operator Origin Energy Limited said it and its partners now estimate it would cost A$24.7 billion to build the Australia Pacific...

(EnergyAsia, February 22 2013, Friday) — Citing concerns over water management, toxic chemical disclosure, greenhouse gas emissions and other community impacts, some investors in the US are demanding oil and gas companies to disclose critical information about the ways they are managing and measuring the risks associated with hydraulic fracturing, or “fracking,” operations and shale...

(EnergyAsia, February 21 2013, Thursday) — Russia’s leading crude producer, Rosneft, could double its 300,000 b/d crude exports to China as part of a new ageement to raise at least US$30 billion to fund upstream projects in the Arctic and Siberian regions. Rosneft, which recently announced an upstream tie-up with ExxonMobil, has targeted to develop...

(EnergyAsia, February 21 2013, Thursday) — Chinese companies raised their production of refined products at home and crude oil from abroad last year. Responding to rising domestic consumption, Chinese refiners processed 467.91 million tons of crude oil in 2012 for a 3.7% increase over the previous year, said the National Development and Reform Commission. The...

(EnergyAsia, February 20 2013, Wednesday) — China’s largest energy company said it missed its target to produce 120 million metric tons of oil and gas from its overseas operations by more than 13% or around 16 million metric tons. China National Petroleum Corp (CNPC) blamed political unrest and military conflicts in the Middle East, Africa...

(EnergyAsia, February 20 2013, Wednesday) — China’s largest offshore oil and gas company will boost its capital expenditure (capex) by between 25% and 50% this year from 2012’s US$9.2 billion while maintaining a conservative target of producing around 343 million barrels oil equivalent (boe). With this strategy, state-owned CNOOC Limited is assuming it will face...

(EnergyAsia, February 19 2013, Tuesday) — Oil and coal accounted for 7.9% of China’s world record US$3.87 trillion merchandise trade last year. According to the country’s Customs authority, China’s import of crude and oil products last year rose 12.2% to more than US$253 billion while its coal purchases surged 37.3% to US$28.7 billion. Being a...

(EnergyAsia, February 19 2013, Tuesday) — State-owned China National Petroleum Corp (CNPC) said it expects to start up a 793-km pipeline in May to deliver natural gas from Myanmar that will enable China to reduce dependence on shipping through the congested Straits of Malacca. The pipeline will have the capacity to deliver 12 billion cubic...