(EnergyAsia, August 6 2013, Tuesday) — Singapore-based Rotary Engineering Limited said it has been awarded a number of engineering, procurement, construction (EPC) contracts worth a total of S$200 million for work in Saudi Arabia and Singapore. (US$1=S$1.26). The EPC and maintenance services provider for the energy sector said it secured three contracts to build storage (more…)
(EnergyAsia, August 5 2013, Monday) — The Asian Development Bank (ADB) said it will boost investment in improving end-user energy efficiency to help Asia Pacific countries tackle surging power demand and growing environmental threats from greenhouse gas emissions. The bank announced its initiative at a recent conference in Manila, Philippines in which it also released...
(EnergyAsia, August 5 2013, Monday) — Finnish engineering consulting firm Poyry said it has been awarded a contract to provide engineering services for the development of a 1,320 MW coal-fired power plant project in Vietnam. The contract was awarded by Japan’s Sumitomo Corp for the Van Phong 1 plant comprising two 660MW units which will...
(EnergyAsia, August 2 2013, Friday) — The power subsidiary of India’s Adani Group said its net loss for the April-June 2013 quarter surged 47.9% to 11.98 billion rupees compared with 810 billion rupees for the same period last year. (US$1=60 rupees). Adani Power Ltd attributed the increased loss to the decline in in the value...
(EnergyAsia, August 2 2013, Friday) — Australia’s Origin Energy Limited said it has completed a set of related agreements involving the A$50 million purchase of a state-owned power-generating company and new fuel supply agreements. Last month, the company said it had signed agreements with the New South Wales government for the A$50 million acquisition of...
(EnergyAsia, August 1 2013, Thursday) — Canadian miner Teck Resources Ltd said it is slowing the development of its Quintette coal mine in British Columbia province until prices for the commodity recover. (US$1=C$1.03). Owing to the continued weak outlook for metallurgical coal prices that contributed to a 50.5% plunge in second quarter earnings, the Vancouver-based...
(EnergyAsia, August 1 2013, Thursday) — Canada’s MicroCoal Technologies Inc (MCI) said it has sold a “master agreement” to Indonesia’s PT Wijaya Tri Utama (PWTU) for the design, construction, operation and maintenance of a proprietary coal drying facility at a coal-fired power plant on Kalimantan Island. The Vancouver, British Columbia firm said it will receive...
(EnergyAsia, July 31 2013, Wednesday) — Switzerland-based engineering giant Foster Wheeler AG said a subsidiary has been awarded a contract to provide project management and consultancy for the construction of a new US$9 billion oil refinery and petrochemicals complex in Vietnam. The Nasdaq-listed company said its Global Engineering and Construction Group was awarded the contract...
(EnergyAsia, July 31 2013, Wednesday) — Japan’s Mitsubishi Heavy Industries, Ltd (MHI) said it has received an order for core components of two sets of a 660MW supercritical-pressure coal-fired boiler and steam turbine to be installed in two high-efficiency coal-fired power generation units in northern India. Rajasthan Rajya Vidyut Utpadan Nigam Ltd (RRVUNL) is building...
(EnergyAsia, July 30 2013, Tuesday) — Central Asia’s fuel-short economies will have two new oil refineries by next month after Kyrgyzstan starts up an 800,000-ton/year plant to follow on Tajikistan’s recent launch of a 100,000-ton/year plant. The refineries will help the region’s fast-growing economies reduce dependence on imports of gasoline, diesel and fuel oil. In (more…)
(EnergyAsia, July 29 2013, Monday) — Singapore-based oil explorer Rex International Holding is looking to raise up to S$85.25 million through a listing on the local Catalist exchange. (US$1=S$1.26). Rex, which claims the use of superior exploration technology to greatly enhance its success for finding oil and gas, is offering a total of 142.5 million...
(EnergyAsia, July 26 2013, Friday) — The export revenues of the Organisation of the Petroleum Exporting Countries (OPEC), excluding Iran, will decline this and next year after reaching a high of US$982 billion in 2012, said the US Energy Information Administration (EIA). The 12-member cartel less Iran earned about US$982 billion in net oil export...
(EnergyAsia, July 26 2013, Friday) — Lloyd’s Register (LR) said it has secured a contract to provide classification services for six liquefied natural gas (LNG) tankers to be built in China by Hudong Zhonghua Shipbuilding (Group) Co Ltd. The project is a key milestone in Chinese shipbuilding and a key indicator in the development of...
(EnergyAsia, July 25 2013, Thursday) — Norway’s Odfjell Terminals recently said it and China’s Founder Group have agreed to set up an equal joint venture to develop a US$137 million petrochemical tank terminal in Fujian province by early 2016. The Norwegian firm will pay the Beijing University-owned Founder Group US$21 million for a 50% equity...
(EnergyAsia, July 24 2013, Wednesday) — Environmentalists have hailed the US Export-Import Bank’s decision to reject financing the construction of a proposed coal-fired power plant in Vietnam. The bank’s board voted last week to reject financing for the 1,200MW Thai Binh II coal plant in the Red River Delta in northern Vietnam. “The Thai Binh (more…)
(EnergyAsia, July 24 2013, Wednesday) — Qatar has sold its first liquefied natural gas (LNG) cargo to Malaysia, said state-owned Qatargas Operating Company Limited, also known as Qatargas. Purchased by Malaysian state firm Petronas LNG Ltd, the cargo was loaded on board the “Seri Begawan” vessel at Ras Laffan Port for delivery to the country’s (more…)
(EnergyAsia, July 23 2013, Tuesday) — The Australia government’s decision to continue with a carbon price on the energy and mining sector puts its liquefied natural gas (LNG) industry at a big disadvantage against suppliers in other countries, said the Australian Petroleum Production Exploration Association (APPEA). The controversial carbon tax was introduced at a fixed...
(EnergyAsia, July 22 2013, Monday) — NYSE-listed InterOil Corp said it and subsidiaries, EP InterOil and InterOil Limited, have secured a US$350 million working capital structured facility arranged by BNP Paribas (BNP), also acting as lead manager, to replace an existing $240.0 million bilateral working capital facility with the French bank. A five-bank syndicate comprising...
(EnergyAsia, July 19 2013, Friday) — China National Offshore Oil Corp (CNOOC Group) and UK major BP said they have signed a production sharing contract (PSC) to jointly develop the 54/11 deepwater block in the South China Sea. Located in the western part of the Pearl River Mouth Basin, the 4,586-sq km block sits in...
(EnergyAsia, July 18 2013, Thursday) — Steady as she goes, Oman’s hydrocarbon-powered economy will grow by 5.1% this year after expanding 5% last year and 4.5% in 2011, said the International Monetary Fund (IMF). Oil and gas exports will bring in record high revenues of US$36.4 billion this year, just slightly higher than 2012’s level...
(EnergyAsia, July 17 2013, Wednesday) — Japan is expected to extend a three-year deal for the free storage of Saudi crude oil on Okinawa Island when it expires at the end of 2013. In December 2010, state Japan Oil, Gas and Metals National Corp (JOGMEC) signed an agreement with Saudi Aramco to store up to...
(EnergyAsia, July 16 2013, Tuesday) — InterOil, Schneider Electric and Societe Generale, three companies with substantial exposure to the energy business in Asia, have announced senior executive appointments. InterOil Corporation, which is developing an integrated oil and gas business in Papua New Guinea, said it has appointed Michael Hession as CEO effective July 11, 2013....
(EnergyAsia, July 15 2013, Monday) — The team that launched Singapore’s most successful oil company in 2005 is back again to try raise S$270.8 million through a public listing. (US$1=S$1.28). KrisEnergy Ltd will offer nearly 152 million shares at S$1.10 each, with 132.1 million shares marked for institutional and other sophisticated investors, and the remaining...
(EnergyAsia, July 12 2013, Friday) — Two years after it began construction, Sinopec, China’s largest integrated energy and chemical group, has started up a large lubricants plant in Singapore, the first outside its home base, as it prepares for global expansion. Located on a 242,811-sq m site in Tuas on the southwestern tip of the (more…)
(EnergyAsia, July 12 2013, Friday) — China’s recently announced reform of its natural gas pricing system has won the approval of at least one US company, the Houston, Texas-based Far East Energy Corporation which is exploring and developing coalbed methane (CBM) resources in Shanxi province. The National Development and Reform Commission (NDRC), China’s top (more…)