(EnergyAsia, June 21 2012, Thursday) — Singapore-listed IEV Holdings Limited said it has completed on schedule the RM262-million engineering, fabrication and load-out work on a four-legged jacket and refurbished topside of a wellhead platform that is part of a bigger project that started last December. (US$1=RM3.2). The project involved the supply, delivery, installation and commissioning of (more…)

(EnergyAsia, June 21 2012, Thursday) — The Australian coal industry has identified “extremist” environmental groups, the rising cost of operations, the shortage of skilled labour and the imposition of a new national carbon tax on July 1 as its biggest foreseeable challenges. Nikki Williams, chief executive of the Australian Coal Association, presented this list at the (more…)

(EnergyAsia, June 21 2012, Thursday) — The Japanese economy is experiencing a solid recovery from the effects of the March 2011 earthquake-tsunami tragedy, but the European debt crisis is likely to dampen demand for the country’s exports, and weigh on business sentiment, said the International Monetary Fund (IMF). The fund’s First Deputy Managing Director, David (more…)

(EnergyAsia, June 21 2012, Thursday) — The world’s marine life and ocean fish supplies are being threatened by climate change, said a new report by the UN Development Programme (UNDP). According to “Frontline Observations on Climate Change and the Sustainability of Large Marine Ecosystems”, climate change is already impacting the livelihoods of billions of people (more…)

(EnergyAsia, June 20 2012, Wednesday) — The world’s main petroleum cartel has kept its forecast for this year’s global demand to grow by 900,000 b/d to reach 88.7 million b/d. The Organisation of Petroleum Exporting Countries (OPEC) said despite the negative headlines concerning Europe and the US, the global economic outlook is stabilising and oil (more…)

(EnergyAsia, June 20 2012, Wednesday) — The World Coal Association, the leading global coal industry body recently appointed Zhang Xiwu, chairman of China’s coal mining giant Shenhua Group, as its new chairman from November 2012. Dr Zhang, who will replace Fredrick D. Palmer of US coal producer and trade Peabody Energy, will be the first (more…)

(EnergyAsia, June 19 2012, Tuesday) — For the energy sector, 2011 was a year of many firsts with supply disruptions, record-high world consumption and oil prices as the main themes, according to the latest edition of the BP Statistical Review of World Energy for 2012. For the first time in memory, Saudi Arabia with 265.4 (more…)

(EnergyAsia, June 19 2012, Tuesday) — Japan’s largest electric utility has agreed to increase its purchase of liquefied natural gas (LNG) and equity stake from the Chevron-led Wheatstone gas project in Western Australia state for an undisclosed amount. According to the US major, Tokyo Electric Power Company (TEPCO) has signed to purchase an additional 400,000 (more…)

(EnergyAsia, June 18 2012, Monday) — Russia’s Rosneft and US major ExxonMobil last week announced they had signed agreements to jointly develop tight oil reserves in Western Siberia and establish a joint Arctic Research Center for Offshore Developments. The agreements, which support implementation of the companies’ August 2011 long-term strategic cooperation agreement, were signed by (more…)

(EnergyAsia, June 18 2012, Monday) — Qatargas Operating Company Limited (Qatargas) said subsidiary Qatar Liquefied Gas Company Limited (Qatargas 1) has secured a new long-term liquefied natural gas (LNG) sales agreement (SPA) with Japan’s largest LNG buyer, Tokyo Electric Power Company Incorporated (TEPCO). Under the first long-term bilateral agreement between the two companies, Qatargas 1 (more…)

(EnergyAsia, June 18 2012, Monday) — Norway’s oil and gas company Statoil said it has secured an agreement to deliver liquefied natural gas (LNG) to Malaysia, making this its first to the Asian market. Statoil said it will deliver about one billion cubic meters gas under the flexible supply agreement that runs for three-and-half years. (more…)

(EnergyAsia, June 18 2012, Monday) — Shell Australia has confirmed that it will cease operations at its 79,000 b/d Clyde oil refinery in New South Wales on September 30. This follows an earlier announcement last July that the refinery would be converted into a dedicated fuel terminal. Shell Australia Downstream Vice President Andrew Smith said: (more…)

(EnergyAsia, June 15 2012, Friday) — Chevron Oronite has begun expansion work on its Jurong Island manufacturing plant in Singapore to meet Asia’s fast-growing demand for lubricant additives. At a groundbreaking ceremony last week, the US company said the new investment will increase the plant’s manufacturing, blending and shipping capacities when completed during the first half (more…)

(EnergyAsia, June 14 2012, Thursday) —
China Aviation Oil Singapore Corporation Ltd (CAO) said it has increased its syndicated loan facility to US$145 million with the addition of China Construction Bank Corporation as a mandated lead arranger earlier this week. Asia’s largest trader and supplier of jet fuel had concluded a US$125 million revolving credit facility (more…)

(EnergyAsia, June 14 2012, Thursday) — The Asia Pacific region must invest heavily to preserve and defend its natural-resource base and the environment as it becomes more affluent and consume more resources, said the WWF. In its “Ecological Footprint and Investment in Natural Capital in Asia and the Pacific” report, the non-governmental organisation said the (more…)

(EnergyAsia, June 13 2012, Wednesday) — US coal prices and demand for power generation are expected to recover next year after declining sharply in 2012 on account of its growing substitution by natural gas, said the US Energy Information Administration (EIA). In its latest monthly forecast, the agency expects US coal demand for power generation (more…)

(EnergyAsia, June 13 2012, Wednesday) — Global Pacific & Partners will hold its landmark 17th Asia Oil Week at the Goodwood Park Hotel in Singapore on June 25 to 27. This year’s event will focus on new bid rounds in Sri Lanka and Indonesia, opportunities in several countries, shale gas exploration in China and Australia (more…)

(EnergyAsia, June 12 2012, Tuesday) — Crude oil futures swung between delirious and gloom in late US trading yesterday with Brent starting the week on a high in response to news of the Spanish bank bailout and then collapsing at the close as reality of the spreading Eurozone mess set in. Brent crude crashed to (more…)

(EnergyAsia, June 12 2012, Tuesday) — Australia’s Queensland state has given final approval to UK mining giant Anglo American to develop its proposed A$1.7 billion Grosvenor metallurgical or coking coal mine for production start-up next year. (US$1=A$1.02). The mine will have the capacity to produce seven million tonnes of high quality coking coal a year, (more…)

(EnergyAsia, June 11 2012, Monday) — In this inaugural OxfordPrinceton Series, EnergyAsia interviewed energy industry veteran Malcolm Johnson on the state of the global natural gas and LNG markets. After more than 30 years with Shell in the natural gas/LNG sector, Mr Johnson now provides private consulting services as well as teaches energy professionals attending (more…)

(EnergyAsia, June 11 2012, Monday) — India’s Essar Energy said it expects to start production at its Aries coal mine in Indonesia’s East Kalimantan province by June 2013, having just received final approvalkfrom Jakarta to proceed with development plans. Essar Energy acquired the 5,000-hectare mining area in the province’s West Kutai region for US$118 million (more…)

                   (EnergyAsia, June 8 2012, Friday) — In this inaugural OxfordPrinceton Series, EnergyAsia interviewed energy industry veteran Malcolm Johnson on the state of the global natural gas and LNG markets. After more than 30 years with Shell in the natural gas/LNG sector, Mr Johnson now provides private consulting services as well as teaches energy professionals (more…)

(EnergyAsia, June 8 2012, Friday) — Aggreko, the Scotland-based world leader in providing temporary power and temperature control services, said it has commissioned a turnkey rental power package to power the construction and initial operations of the Martabe mine in northern Sumatra in Indonesia. Hong Kong-based mining company G-Resources, which owns the mine, intends to (more…)

(EnergyAsia, June 8 2012, Friday) — SouthGobi Resources Ltd, a leading Mongolian coal miner and exporter, has hailed the opening of eight new border gates exclusively for coal transportation at the Shivee Khuren-Ceke border between Mongolia and China on May 28. According to the Hong Kong-listed company, the gates will significantly increase the capacity for (more…)

(EnergyAsia, June 7 2012, Thursday) — Indonesia could lose as much as US$11 billion a year if the government proceeds to impose a controversial tax on the country’s thriving thermal coal exports, said research consultant Wood Mackenzie. While Indonesia will likely remain the world’s largest seaborne thermal coal exporter through 2020, it will lose much (more…)