(EnergyAsia, June 6 2011, Monday) — Australia-listed Adavale Resources Limited said it has signed a joint venture agreement to explore and mine for coal in Indonesia with local businessman Haryono Eddyarto who has over 34 years’ experience in the industry. In its statement to the Australian Securities Exchange (ASX), Adavale said it will hold a...
(EnergyAsia, June 6 2011, Monday) — Australia’s Queensland state has invited companies to bid for the right to develop another four coal terminals with a combined capacity of 120 million tonnes a year at Abbot Point. The terminals could cost as much as A$6.2 billion, further boosting Queensland’s position as one of the world’s largest...
(EnergyAsia, June 3 2011, Friday) — Australia’s oil production fell to their lowest quarterly level in more than 20 years for the January-March 2011 period on account of cyclones, floods, maintenance and field redevelopment work, according to energy economics group EnergyQuest. In a report, EnergyQuest said Australian oil production fell to 20.9 million barrels in...
(EnergyAsia, June 3 2011, Friday) — Japan will focus on developing and increasing the use of renewable energy while stepping up energy conservation efforts as it abandons long-term plans to derive half of its electricity from nuclear power, said Prime Minister Naoto Kan. The major shift in thinking was triggered by the Fukushima Dai-ichi nuclear...
(EnergyAsia, June 3 2011, Friday) — Three of Japan’s main oil companies said they have suffered extraordinary losses for the fiscal year ending March 31 as a result of the massive damages to their refineries and other facilities in the devastating March 11 earthquake. JX Holdings Inc, Idemitsu Kosan Co and Cosmo Oil Co were...
(EnergyAsia, June 3 2011, Friday) — High fuel costs pose a key challenge for Singapore’s shipping and aviation industries, based on the financial performance of major players Singapore Airlines (SIA) and NOL Group. Owing to rising fuel prices, SIA’s operating income has been flat even as its bottomline rose in the last fiscal year to...
(EnergyAsia, June 3 2011, Friday) — Australia-listed Hunnu Coal said its subsidiary, Hunnu Investments Pte Ltd, has acquired a 70% interest in the Rio Tinto Minerals Altai Nuurs Coal joint venture (JV) project located in south-western Mongolia for A$40million. (US$1=A$1.05). Located in the Gobi Altai province, the Altai Nuurs project consists of six exploration licences...
(EnergyAsia, June 2 2011, Thursday) — Liquefied natural gas (LNG) prices are set to rise from this year, with Japan kickstarting the trend as it requires additional fuel to avert power shortages following the devastating earthquake and tsunami of March 11. Japan’s emergency requirements for 10 million tonnes of LNG this year will translate into...
(EnergyAsia, June 2 2011, Thursday) — Australian energy firm Altona Energy Plc said it has signed a memorandum of understanding with Hong Kong- based private investment group Tongjiang International Energy Co Ltd to develop a strategic partnership in China to identify and evaluate coal and biomass gasification projects for the production of clean energy and...
(EnergyAsia, June 2 2011, Thursday) — Two oil traders working for companies controlled by Norwegian billionaire John Fredriksen are among the first to be charged by the US government which had warned that it would be cracking down on fraud and manipulation in the oil markets. Last month, the US Commodity Futures Trading Commission (CFTC)...
(EnergyAsia, June 2 2011, Thursday) — China’s apparent oil demand in April reached 38.36 million metric ton (mt) or an average of 9.37 million b/d, marking an 8.3% increase from April 2010 due to increased demand during the spring sowing season, said energy media Platts. In its analysis based on recent figures published by the...
(EnergyAsia, June 1 2011, Wednesday) — The outlook for the Australian economy remains strong on account of rising exports of its natural resources and high prices for commodities, according to a report by Deloitte Access. Their combined impact will enable Australia offset the devastating impact of natural disasters that hit the country between late 2010...
(EnergyAsia, June 1 2011, Wednesday) — China’s top planning agency, the National Development and Reform Commission (NDRC), has warned that the country’s power crisis could spread and worsen. The agency has been keeping a tab of China’s worsening energy and food situation after being warned about the impact of coal supply shortages and rising prices...
(EnergyAsia, June 1 2011, Wednesday) — The full version of this story is available in the June 2011 edition of EnergyAsia Report. Last month’s arrest of its managing director on violent sex crime charges was not the only piece of sensational news coming out of the International Monetary Fund (IMF). Lost amid the tabloid headlines...
(EnergyAsia, June 1 2011, Wednesday) — US-based Post Carbon Institute has released a report examining the key assumptions about the role that natural gas can and should play in the energy future of the US. Founded in 2003, the Santa Rosa, California-based study group sees its role as leading society in the transition to a...
(EnergyAsia, June 1 2011, Wednesday) — An Australia business lobbyist said his country should be more cautious and rigorous in exercising due diligence in supporting China’s nuclear energy industry and supplying uranium to the world’s largest emissions polluter. At the recent Paydirt 2011 Uranium Conference in Adelaide, Greg Rudd, managing director of Asian business lobby...
(EnergyAsia, May 31 2011, Tuesday) — Japan has reverted to its 70-day oil stockpile requirement, according to the trade ministry, as refiners that reduced throughput after the March 11 earthquake are close to operating normally again. Following the earthquake that crippled nuclear power plants in the northeastern Fukushima area, the government allowed the national oil...
(EnergyAsia, May 31 2011, Tuesday) — ExxonMobil Corp has banned the new CEO of Australian upstream company Woodside from attending sensitive meetings involving any development of the giant Scarborough offshore gas field in Western Australia state. The US major deems Peter Coleman, a 27-year ExxonMobil veteran, to be a threat as he is in possession...
(EnergyAsia, May 31 2011, Tuesday) — Canada’s Industry Ministry said it needs more time to determine whether PetroChina’s planned C$5.4 billion acquisition of a 50% stake in a domestic natural gas venture complies with the country’s foreign investment law. (US$1=C$0.98). Christian Paradis is continuing the stance of his predecessor Tony Clement whose last statement before...
(EnergyAsia, May 31 2011, Tuesday) — France could to take the world’s most decisive and radical position in dealing with growing concerns about the health, safety and environmental impacts of extracting gas from shale through the controversial hydraulic fracturing or ‘fracking’ method. On June 1, the Senate will vote on passing into law a crucial...
(EnergyAsia, May 31 2011, Tuesday) — It smacks of desperation as the International Energy Agency (IEA) made an unprecedented direct appeal to the Middle East oil producing countries to boost output to help keep prices from rising. In the appeal, the IEA said further increases in crude prices would derail global economic recovery to the...
(EnergyAsia, May 31 2011, Tuesday) — The world liquefied natural gas (LNG) markets is likely to tighten further this year, with prices continuing to recover owing to the nuclear crisis in Japan following the March 11 earthquake, according to Barclays Capital. For the rest of the year, global LNG production may will still meet demand,...
(EnergyAsia, May 30 2011, Monday) — The US Energy Information Administration (EIA) has released its final version of Annual Energy Outlook 2011 (AEO2011) that includes 57 sensitivity cases based on different assumptions regarding market, policy and technology drivers, and their likely impact on energy production, consumption, technology, and market trends. In addition to considering alternative...
(EnergyAsia, May 30 2011, Monday) — In response to environmental and aboriginal concerns, Canada’s federal government has created a joint panel to review the proposed construction of an Alberta-British Columbia pipeline to export crude oil to Asia, said Ed Stelmach, Premier of Alberta state. The high-level review will conducted by the National Energy Board and...
(EnergyAsia, May 30 2011, Monday) — Kuwait Petroleum Corp (KPC) and China’s Sinopec will start building their long-delayed joint-venture oil refinery and petrochemical complex in southern China in the first quarter of next year. According to Kuwait’s official news agency, KUNA, the Chinese government gave its approval last March for the US$9 billion project to...