(EnergyAsia, August 23 2012, Thursday) — The Asian Development Bank (ADB) said it could lend Vietnam as much as US$3.8 billion to implement a new four-year partnership strategy that will focus on promoting inclusive and sustainable growth, and economic efficiency in the country. The strategy will focus support on six core sectors: agriculture and natural (more…)
(EnergyAsia, August 22 2012, Wednesday) — Indian infrastructure builder Punj Lloyd said it has secured a 3.3-billion rupee contract from the Ministry of Petroleum and Natural Gas. Punj Lloyd will provide process facilities and utility services for an underground crude oil storage cavern being constructed on the country’s west coast. (US$1=55 rupees). The cavern, sited (more…)
(EnergyAsia, August 22 2012, Wednesday) — The start of a global trade ban on Iranian crude oil led to last month’s slight drop in crude oil production by Organisation of Petroleum Exporting Countries (OPEC) members, said US energy media Platts. In a survey of OPEC and industry officials and analysts, Platts said OPEC output fell (more…)
(EnergyAsia, August 22 2012, Wednesday) — MISC Bhd, the Malaysian energy shipping firm, and Singapore’s jet fuel trader, China Aviation Oil (CAO), said they have terminated a shareholder agreement to jointly build and operate an oil storage tank terminal in the southern Malaysian state of Johor. In separate statements, MISC, which owns and operates oil (more…)
(EnergyAsia, August 21 2012, Tuesday) — US business conglomerate GE has promoted Hisham Albahkali, previously Saudi Arabia’s executive for GE Energy, to President and CEO for Saudi Arabia and Bahrain. A Saudi national, Mr Albahkali will lead GE’s expansion in its diverse range of businesses including oil and gas, power, water, aviation and healthcare in (more…)
(EnergyAsia, August 21 2012, Tuesday) — Jaya Holdings, a Singapore-based offshore energy services company, said it has appointed George Horsington as President of Business Development. Mr Horsington, 38, who has held senior management positions with UK’s Swire Pacific Offshore Operations Ltd, will join Jaya on September 6 to take charge of all areas of business (more…)
(EnergyAsia, August 17 2012, Friday) — Organisation of Petroleum Exporting Countries (OPEC) members will have little room to boost oil production over the next five years, US consulting firm Energy Security Analysis Inc (ESAI). In its latest five-year forecast of the global crude oil markets, the Wakefield, Massachusetts firm said the call on the cartel’s (more…)
(EnergyAsia, August 17 2012, Friday) — The Asian Development Bank (ADB) has urged China to initiate comprehensive fiscal, economic and legal measures to achieve ambitious targets for reducing pollution while growing the economy. While praising China’s green progress including its increased investment in environmental infrastructure, greater focus on achievable targets, and strengthened accountability and enforcement, (more…)
(EnergyAsia, August 17 2012, Friday) — Foster Wheeler AG said a subsidiary of its Global Engineering and Construction Group has been awarded a contract to deliver a waste heat recovery unit for a power generation and heat recovery project at the Map Ta Phut Industrial Complex in Thailand. Foster Wheeler will design, engineer and supply (more…)
(EnergyAsia, August 16 2012, Thursday) — Malaysian independent power producer, Malakoff Corporation Berhad, has started work on the construction of Southeast Asia’s largest coal-fired power plant in Tanjung Bin in the southern state of Johor. The company is investing a total of RM6.5 billion in the 1,000MW plant which will more than triple the generating (more…)
(EnergyAsia, August 16 2012, Thursday) — The following is an edited version of a commentary by the Tokyo office of law firm Herbert Smith on a bilateral investment agreement or treaty (BIT) signed by Japan and Iraq on June 7 2012.As the first BIT between Iraq and a major economy, this is a significant and (more…)
(EnergyAsia, August 16 2012, Thursday) — The Asian Development Bank (ADB) said it is assisting China in developing a road map for carbon capture and storage (CCS) to help achieve the country’s carbon dioxide (CO2) emissions reduction goals. The bank is working with Chinese officials to develop a detailed plan for a staged demonstration and (more…)
(EnergyAsia, August 15 2012, Wednesday) — US-based Air Products said its leading liquefied natural gas (LNG) technology and equipment will be used on a floating LNG (FLNG) production platform 180 km off the coast of eastern Malaysia. State oil and gas company Petronas has selected Air Products for its first floating platform to produce 1.2 million (more…)
(EnergyAsia, August 15 2012, Wednesday) — China will not meet either of its ambitious production or sale targets for its plug-in electric vehicles (PEV) later this decade, said US-based Pike Research. According to its latest report, China’s PEV production will fall well short of the government’s goal of manufacturing 500,000 PEVs a year by 2015 (more…)
(EnergyAsia, August 15 2012, Wednesday) — ASX-listed Environmental Clean Technologies (ECT) said it will apply for part of an A$90 million funding package offered by the Australian government to accelerate new lignite upgrading technologies in the Latrobe Valley. Under the terms of the Advanced Lignite Demonstration Program (ALDP), funds will be allocated to companies, which (more…)
(EnergyAsia, August 14 2012, Tuesday) — US coal consumption for power generation will fall to 825 million short tons (MMst) in 2012, their lowest level in 20 years, predicts the US Energy Information Administration (EIA). With natural gas prices expected to remain cheap, power companies will continue to snub coal through next year, said the (more…)
(EnergyAsia, August 14 2012, Tuesday) — Australian farming and environmental groups want New South Wales (NSW) state to follow the example set by neighbour Western Australia (WA) in banning coal exploration and mining in its wine growing and tourist areas. WA mining minister Norman Moore announced last month a ban on coal mining within a (more…)
(EnergyAsia, August 13 2012, Monday) — Singapore’s leading rig builders, Sembcorp Marine and Keppel O&M, said two subsidiaries have secured contracts worth a total of nearly US$5 billion from Brazilian companies. SembMarine said wholly owned Jurong Offshore Pte Ltd has been awarded contracts worth US$4.032 billion to design and build five drillships for Sete Brasil based (more…)
(EnergyAsia, August 13 2012, Monday) — Investors in Mongolia’s coal industry face more uncertainties, with Canada’s Prophecy Coal the latest to deliver a clouded outlook. The Vancouver, British Columbia company said it has temporarily suspended mining at its Ulaan Ovoo coal mine since July as it has built up a 187,000-tonne stockpile sufficient to meet (more…)
(EnergyAsia, August 13 2012, Monday) — L & L Energy Inc, a Seattle, US-based company producing coal in China, said it is expanding its operations in southwestern Guizhou province through a strategic agreement with a local coal supplier to build on an earlier purchase of a large stake in a coal miner. L&L Energy said (more…)
(EnergyAsia, August 10 2012, Friday) — Singapore’s Keppel Offshore & Marine Ltd said its subsidiary, Fernvale Pte Ltd, has secured contracts from Sete Brasil Participações SA for the design and construction of five semisubmersible drilling rigs for a total sum of approximately US$4.1 billion. The contracts for the rigs based on Keppel’s proprietary DSSTM 38E (more…)
(EnergyAsia, August 10 2012, Friday) — Indonesia’s second largest thermal coal producer, Adaro Energy, said it now expects to produce between 48 and 51 million metric tonnes in 2012, down from an earlier forecast of 50 and 53 million mt. Citing “difficult market conditions” with coal prices down by more than 20% since last April, (more…)
(EnergyAsia, August 10 2012, Friday) — US engineering firm Babcock & Wilcox Company (B&W) said a China-based joint venture has secured a contract worth more than $300 million to design and manufacture two coal-fired boilers, boiler auxiliaries and two wet flue gas desulphurisation (FGD) units for a power plant in Vietnam The North Carolina company (more…)
(EnergyAsia, August 8 2012, Wednesday) — Singapore Exchange is expanding its portfolio of energy products and over-the-counter (OTC) clearing services with its purchase of a 49% stake in Energy Market Company Pte Ltd (EMC), the operator of the country’s wholesale electricity market. (US$1=S$1.25). SGX has agreed to acquire the stake held by The Marketplace Co (more…)
(EnergyAsia, August 8 2012, Wednesday) — Germany’s Evonik Industries is expanding amino-acid production for animal feed with the construction of a new 500-million-euro methionine complex on Singapore’s Jurong Island. When completed in the third quarter of 2014, the 150,000-metric ton/year complex will boost the company’s total annual capacity to 580,000 metric tons, enabling Evonik to (more…)