(EnergyAsia, April 5 2012, Thursday) — The following is an edited version of an interview with Tony Regan, principal consultant of Tri-Zen Asia, by IQPC’s Bryan Camoens. Mr Regan, who is chairman for the 8th Annual FLNG Asia Pacific Summit in Singapore, spoke about the recent emergence of floating LNG (FLNG) terminals as a viable (more…)

(EnergyAsia, April 5 2012, Thursday) — China’s Sinopec and Saudi Arabia’s SABIC have begun work on building a 260,000-tonne/year polycarbonate plant in China’s Tianjin city. Their equal joint venture firm, Sinopec SABIC Tianjin Petrochemical Company (SSTPC), is investing RMB11 billion to develop a petrochemical complex on a 67-hectare plot in the Tianjin Binhai New Area. (more…)

(EnergyAsia, April 4 2012, Wednesday) — Singapore will continue with its existing model of development emphasisng rapid economic growth, population increases and the use of modern management systems and technology to improve resource use despite charges that it has one of the most damaging impacts on the environment. In recent separate reports, the World Wide (more…)

(EnergyAsia, April 4 2012, Wednesday) — US engineering firm Fluor Corp said it has secured a contract from Petronas Gas Berhad, a subsidiary of the Malaysian state oil and gas company, to provide front-end engineering and design (FEED) services for a new liquefied natural gas (LNG) import terminal in Malaysia. The regasification terminal will supply (more…)

(EnergyAsia, April 4 2012, Wednesday) — Australia’s land and oceans have continued to warm in response to rising carbon dioxide (CO2) emissions from the burning of fossil fuels, said the country’s leading science agency CSIRO and the Bureau of Meteorology. In their joint ‘State of the Climate 2012’ report, the two agencies said there was (more…)

(EnergyAsia, April 3 2012, Tuesday) — The following is an edited version of an interview by IQPC’s Bryan Camoens with Jason Waldie, an associate director for energy consultant Douglas Westwood, on the role of floating LNG terminals in gas production from stranded fields. Mr Waldie will provide more details at the upcoming 8th Annual FLNG (more…)

(EnergyAsia, April 3 2012, Tuesday) — Australia’s upstream oil and gas industry wants the Federal government to use a mix of “competitive markets” and specific “policy interventions” to protect the sector’s international competitiveness and ability to meet domestic energy demand. In its submission for consideration in the Federal government’s Energy White Paper, the Australian Petroleum Production (more…)

(EnergyAsia, April 3 2012, Tuesday) — Vancouver, Canada-based Ivanhoe Mines said its 57.6%-owned Mongolian coal mining subsidiary SouthGobi Resources is the subject of a “proportional” takeover by Aluminum Corporation of China Ltd (Chalco) worth as much as C$889 million. (US$1=C$0.99). Chalco plans to make a takeover bid for between 56% and 60% of the common (more…)

(EnergyAsia, April 2 2012, Monday) — Abdul Rahim Hashim, President of the International Gas Union, will hold a media briefing on the state of the natural gas industry at the Regent Hotel in Singapore on April 4 at 3 pm. In focusing on the upcoming 25th World Gas Conference to be held in Kuala Lumpur (more…)

(EnergyAsia, April 2 2012, Monday) — Sakhalin Energy Investment Company Ltd said the Russian Federation and its Far Eastern region of Sakhalin have begun receiving their share of profit production under the Sakhalin-2 offshore oil and gas project from last month. According to their production sharing agreement, production sharing started when the company had recovered (more…)

(EnergyAsia, April 2 2012, Monday) — globalCOAL, an electronic and marketplace operator for the industry, said it has released the latest version of its Standard Coal Trading Agreement (SCoTA) together with two new tradable specifications for its online trading system. The new contract, SCoTA Version 8, has undergone a major overhaul to allow it to (more…)

(EnergyAsia, April 2 2012, Monday) — US coal miner Peabody Energy said heavy floods in Australia’s Queensland state will affect its first quarter financial and operatin performance. The company expects to achieve the low end of its original targeted earnings range of A$500 to A$600 million and adjusted diluted earnings per share of US$0.50 to (more…)

(EnergyAsia, April 2 2012, Monday) — PHI Group Inc, a US company focused on energy and natural resources, said it has formed Indochina Energy Ltd, a Nevada corporation, as a special purpose holding company to develop power plant projects in Vietnam. For now, Indochina Energy is focusing on jointly developing a 2,000 MW coal-fired power (more…)

(EnergyAsia, March 30 2012, Friday) — Global Pacific & Partners has released its programme for the 17th Asia Oil Week , which includes the 21st Asia Petroleum Strategy Briefing and the 17th Asia Upstream Conference to be held at the Goodwood Park Hotel in Singapore on June 25 to 27 2012. The event begins with (more…)

(EnergyAsia, March 30 2012, Friday) — Helped by high crude prices last year, China’s leading offshore oil producer CNOOC Limited said it earned a record 70.26 billion yuan in net profit for a 29.1% increase over 2010. (US$1=6.3 yuan). Its revenue rose 29.5% to 189.28 billion yuan, boosted by the record average realised oil price (more…)

(EnergyAsia, March 30 2012, Friday) — ITF, a UK-based oil and gas industry technology facilitator, said it has signed up Thai state oil company PTT Exploration & Production Public Company Limited (PTTEP) as a member. PTTEP is the latest ITF member in Southeast Asia and the second after Malaysia’s state Petronas to support oil and (more…)

(EnergyAsia, March 29 2012, Thursday) — Western Canadian Select (WCS) crude prices will continue to weaken against West Texas Intermediate (WTI) and will sell for an average discount of US$27 below the US benchmark in 2014, predicts BENTEK Energy, a US-based energy markets information and analytics company. Earlier this week, the Canadian discount surged above (more…)

(EnergyAsia, March 29 2012, Thursday) — The following is an edited version of an article written by Alex Bailey on behalf of Seatrade, a producer of maritime and cruise publications, conferences and exhibitions. Soaring demand for liquefied natural gas (LNG) across Asia is driving major new investments into exploration and infrastructure capabilities. This will stimulate (more…)

(EnergyAsia, March 28 2012, Wednesday) — Foster Wheeler AG said a subsidiary of its Global Engineering and Construction Group has been awarded a contract by PT Pertamina, Indonesia’s state oil company, to provide project management consultancy services for the residue fluid catalytic cracker (RFCC) project at the Cilacap refinery on Java Island. Foster Wheeler will (more…)

(EnergyAsia, March 27 2012, Tuesday) — China Petroleum and Chemical Corp (Sinopec Corp), the country’s second largest integrated oil company, said its 2011 net profits grew by just 1.3% as downstream losses from its refining and marketing operations offset upstream gains. With its net profit at 71.7 billion yuan, the company reported basic earnings of (more…)

(EnergyAsia, March 27 2012, Tuesday) — International classification society and verification group RINA said it has been appointed by Indonesia’s electricity utility PT PLN to help develop the world’s first marine compressed natural gas (CNG) project. PLN expects to begin delivering between 3,000 and 6,000 standard cubic feet (mscf) per day of CNG from the (more…)

(EnergyAsia, March 27 2012, Tuesday) — Canada’s upstream oil and natural gas industry said it welcomes and encourages federal initiatives to negotiate trade-related agreements with Asian countries given their strong and growing need for oil and natural gas and growing importance in global energy markets. Prime Minister Stephen Harper, presently on his second visit to (more…)

(EnergyAsia, March 27 2012, Tuesday) — As a boost to its national marine fuel supply network, Caltex Australia has added a new 65-metre bunker tanker, Anatoma, to its Sydney operations. The company’s leading downstream oil company said it has signed a service agreement with SVITZER to operate the double-hulled bunker tanker, which will begin delivering (more…)

(EnergyAsia, March 27 2012, Tuesday) — Australia’s third liquefied natural gas (LNG) project started up last week when operator Woodside announced that its Pluto project in Western Australia began processing gas from offshore fields last week. The A$14.9 billion project has been plagued by cost over-run of up to A$1 billion, and weather problems and (more…)

(EnergyAsia, March 26 2012, Monday) — More airlines could fold up this year as the industry faces the bleak prospect of losing more than US$5 billion if fuel prices continue to rise beyond the present level with Brent crude hovering around US$125 a barrel, said the International Air Transport Association (IATA) and members. Last December, (more…)