(EnergyAsia, February 7 2011, Monday) — Puda Coal Inc, a Chinese supplier of high grade metallurgical coking coal used for steel manufacturing, said it expects to produce 849,000 tonnes of raw coal in FY2011 while continuing its ambitious programme to consolidate several mines in Shanxi province. Through its 90%-owned subsidiary, Shanxi Puda Coal Group Co...
(EnergyAsia, February 7 2011, Monday) — US engineering giant KBR said its technology business unit has been awarded a contract by Tianji Coal Chemical Industry Group Co Ltd for licensing and basic engineering services for a 164,250-tonne-per-calendar-year aniline plant to be located in Lucheng city in China’s Shanxi province. This award follows the successful licensing...
(EnergyAsia, February 2 2011, Wednesday) — Australian hard coking coal prices could triple to US$500 per tonne on the impact of the devastating floods in Queensland state which could affect more than half its coal mines, said a leading energy and mining consultant. In a special report, Wood Mackenzie, the Edinburgh, Scotland-based global mining and...
(EnergyAsia, February 2 2011, Wednesday) — Renewable Energy Asia Group (REA), a Singapore-listed renewable energy company, said it and China Datang Corp Renewable Power Co Ltd will jointly develop a 49.5-megawatt (MW) wind farm in Haimen City in China’s Jiangsu province. REA said it will have a 49% stake in the RMB500 million project to...
(EnergyAsia, February 2 2011, Wednesday) — Singapore-listed Ezra Holdings Ltd has launched its own academy to provide safety and operational training for the offshore and marine industry. Located within the 18-hectare Ubi Techpark, the S$10-million EMAS Academy facility uses simulation technology in training to help meet the growing demand for skilled maritime professionals and vessel...
(EnergyAsia, February 2 2011, Wednesday) — Japan’s trading house Sojitz Corp recently raised its stake in the Minerva coal mine in Australia’s Queensland state to 96% from 45%. The increase came about after it bought Felix Resources’ 51% interest in Minerva, which produces 2.8 million tonnes of premium thermal coal per year mostly for export...
(EnergyAsia, February 2 2011, Wednesday) — India’s Lanco Infratech said its Australian subsidiary, Lanco Resources Australia, beat off competition from Chinese and Japanese firms to acquire the Griffin Coal Mining Co and Carpenter Mine Management for around A$850 million. (US$1=A$1.01). Griffin Coal is developing its infrastructure to raise its annual production capacity to over...
(EnergyAsia, February 1 2011, Tuesday) — China’s diesel shortage could worsen this year, with the country’s refineries unable to keep pace with the growth in consumption, said China National Petroleum Corp (CNPC). Demand for the fuel used for transportation and power generation may exceed supply by 3.5 million metric tons, said the country’s largest oil...
(EnergyAsia, February 1 2011, Tuesday) — China’s Sinopec has made a strategic C$100 million investment in a proposed C$5.5 billion pipeline to deliver diluted bitumen to a marine terminal in Canada’s British Columbia province for export to Asia. (US$1=C$1). Canadian energy infrastructure builder and operator Enbridge Inc is launching a consortium to build the Northern...
(EnergyAsia, February 1 2011, Tuesday) — China expects to expand its commercial storage capacity for oil products by 30 million barrels to 208 million barrels this year. The world’s second-largest oil consuming country, which began building its strategic petroleum reserves in 2005, added 12 million barrels of capacity last year. It completed the first...
(EnergyAsia, February 1 2011, Tuesday) — To the dismay of Western Europe, Norway’s goal of transforming itself into a leading gas supplier could be derailed if it is unable to raise production and find new reserves. European consumers, who had been looking to reduce their dependence on Russia, now face the prospects of a shortfall...
(EnergyAsia, February 1 2011, Tuesday) — Despite actively investing in exploration activities, Norway has reported a decline in both its crude oil production and reserves for 2010. Over the five-year period to 2010, its unproven reserves plunged 21% to 16.4 billion barrels of oil equivalent (boe) while proven reserves fell from 5.2 billion boe...
(EnergyAsia, February 1 2011, Tuesday) — Boosted by fresh investment interest from Japanese trading house Mitsubishi Corp, the UAE’s Fujairah port is looking to raise its oil products storage capacity by nearly 50% by end-2012. A senior Mitsubishi representative in the Middle East, Hiroshi Nishimoto, recently met with the Fujairah Chamber of Commerce and Industry...
(EnergyAsia, January 31 2011, Monday) — Arizona, US-based thin-film solar module manufacturer, First Solar Inc, and China Guangdong Nuclear Solar Energy Development Co Ltd (CGN SEDC) have agreed to jointly develop Phase 1 of the previously announced solar photovoltaic (PV) plant in Ordos in China’s Inner Mongolia. Their memorandum of understanding (MOU) represents an important...
(EnergyAsia, January 31 2011, Monday) — Australia’s Riversdale Mining Limited said its 65/35 joint venture with India’s Tata Steel will soon fully own the proposed US$1 billion Benga power plant (BPP) in Mozambique. Elgas SARL, Riversdale’s former joint partner in BPP, has agreed to allow Riversdale to acquire its option for a 50% interest in...
(EnergyAsia, January 31 2011, Monday) — Thai coal processor and trader Asia Green Energy (AGE) is looking to invest up to 4.5 billion baht to acquire three coal mines in Indonesia. (US$1=30 baht). The company has begun talks for the acquisitions and expects to complete a deal for at least one mine with the annual...
(EnergyAsia, January 31 2011, Monday) — The Australian government is reviewing projects operated by Thailand’s PTT Exploration and Production as part of its moves to tighten up regulation of offshore oil exploration. PTTEP’s Australian unit caught fire at the Montara field wellhead off northwestern Australia in August 2009, spilling oil and condensate into the sea...
(EnergyAsia, January 31 2011, Monday) — Chinese state-owned ShanTou SinoEnergy Co has tied up with privately-owned Shenzhen SinoGas in a deal to import liquefied natural gas (LNG) from Australia’s Icon Energy. Under a proposed agreement, the joint venture partners will import 40 million metric tonnes of LNG from Icon Energy over 20 years. The sales...
(EnergyAsia, January 31 2011, Monday) — Australia’s Altona Energy Plc is stepping up plans to develop an estimated 7.8 billion tonnes of coal deposit in the Arckaringa Basin of South Australia. The A$3 billion Arckaringa project is 51%-owned by CNOOC New Energy International (Australia) Pty Ltd (CNOOC-NEIA), a subsidiary of one of China’s largest national...
(EnergyAsia, January 28 2011, Friday) — China’s apparent oil demand rose 11.43% to a record 434.40 million metric tonnes, or an average 8.71 million b/d in 2010, said US energy media Platts. December consumption surged 18% year over year to a record 40.73 million metric tons (mt), or an average 9.6 million barrels per day...
(EnergyAsia, January 28 2011, Friday) — Mongolia is continuing to attract foreign interest in developing its vast coal reserves. It recently put up for sale a 30% stake in its Tavan Tolgoi mine which holds an estimated six million tonnes of deposit. Mongolia has emerged as a major coal supplier, while the development of copper,...
(EnergyAsia, January 28 2011, Friday) — Saudi Arabia expects to incur a budget deficit of 40 billion riyals this year based on expenditures of 580 billion riyal and revenues set at 540 billion riyal, according to the Finance Ministry. (US$1=3.75 riyal). The projected deficit this year would represent a turnaround from a surplus in 2010,...
(EnergyAsia, January 28 2011, Friday) — With natural gas reserves drying up at the Arun field in Indonesia, US major ExxonMobil Corporation plans to turn the town’s liquefied natural gas (LNG) export plant into an import terminal to supply the domestic market. State upstream oil and gas authority BPMigas has outlined plans to build a...
(EnergyAsia, January 28 2011, Friday) — Russia has strengthened its energy portfolio through state-owned Rosneft’s acquisition of a 5% stake in BP. In turn, the UK major has revived its fortunes after last year’s disastrous Gulf of Mexico oil spill by taking a 9.5% stake in the Russian firm in a share swap deal valued...
(EnergyAsia, January 28 2011, Friday) — Singapore Exchange Limited (SGX) has opened up its Catalis unit for listing of ‘early stage’ mineral, oil and gas (MOG) companies from February 1. SGX said MOG companies need not have revenue or profit, but they must have established the presence of at least ‘indicated resources’ of minerals or...