(EnergyAsia, October 21 2011, Friday) — The association representing most of the world’s oil tanker owners recently discussed the issues of the industry’s sustainability amid depressed market conditions, air emissions and the growing threat of piracy. Intertanko said its council is deeply concerned with the depressed state of the market as tanker rates remain below (more…)

(EnergyAsia, October 21 2011, Friday) — Australia’s Origin Energy Limited said it has raised US$500 million through an unsecured notes offering in the US that will be due October 14 2021 while paying a coupon rate of 5.45%. The successful placement will help fund the company’s joint-venture project to convert coal seam gas (CSG) to (more…)

(EnergyAsia, October 20 2011, Thursday) — US engineering giant Honeywell said it and China’s Sinochem Group have agreed to form an equal joint venture in China to produce and sell blowing agents for energy efficient foam insulation to meet growing demand in Asia for energy efficient and environmentally friendlier materials. The proposed joint venture, to (more…)

(EnergyAsia, October 20 2011, Thursday) — Southeast Asia will need to invest at least US$125 billion in its power generation sector by 2020 to keep pace with the “aggressive” growth of its power demand, said UK consultant Wood Mackenzie. The company examined the region’s demand hotspots of Java-Bali and Sumatra in Indonesia, Peninsular Malaysia, Singapore, (more…)

(EnergyAsia, October 19 2011, Wednesday) — In a long overdue move, the Energy Market Authority (EMA) has released Singapore’s first official publication on its energy statistics. The Singapore Energy Statistics (SES) is an annual publication containing the country’s key energy supply and consumption statistics, and prices, as well as trends in the electricity and gas (more…)

(EnergyAsia, October 18 2011, Tuesday) — IEV, a provider of integrated offshore engineering and clean energy solutions, is targeting to raise S$8.7 million in a public share offering on the Singapore Exchange. (US$1=S$1.26). The company said its offer of 37 million at S$0.30 each will close on October 21. After expenses, it expects to raise (more…)

(EnergyAsia, October 18 2011, Tuesday) — Chromalloy, a leading producer of turbine engine repairs and advanced coatings, has appointed Carlo Luzzatto as President to lead its expansion in the aerospace and industrial gas turbine (IGT) markets. Mr Luzzatto, a seasoned energy industry business leader, joined from Ansaldo Energia, a division of the Italian conglomerate Finmeccanica (more…)

(EnergyAsia, October 17 2011, Monday) — Singapore’s ASL Marine Holdings Ltd said ts wholly-owned subsidiary ASL Shipyard Pte Ltd has secured contracts worth a total of S$267 million to build five vessels mostly for offshore oil and gas support work over the next three years. (US$1=S$1.28). ASL Marime will deliver two barges in 2012, two (more…)

(EnergyAsia, October 17 2011, Monday) — The following is an edited version of an analysis by the Securing America’s Future Energy (SAFE) study group. With fighting in Libya now near an end, some observers may say that since the Arab spring has sprung three new North African democracies (Egypt, Tunisia and Libya) upon the world, (more…)

(EnergyAsia, October 14 2011, Friday) — The Singapore government will work towards enhancing the country’s energy efficiency, reducing waste and dealing with climate change issues as part of its long-term goal of creating a sustainable and clean society. The pledge, which described Singapore’s high quality environment as a source of competitive advantage, was made by (more…)

(EnergyAsia, October 14 2011, Friday) — Australia’s House of Representatives has narrowly approved the government’s clean energy legislative package including the controversial carbon tax to put a price on carbon emissions from next July. Against strong opposition from the powerful coal and mining lobby, the government of Prime Minister Julia Gillard secured the passage for (more…)

(EnergyAsia, October 13 2011, Thursday) — The Asian Development Bank (ADB) said it will provide US$97 million to help fund a new private sector hydroelectricity plant in Pakistan, which will ease power shortages and create thousands of new jobs. The bank said its board recently approved the loan for the 147-megawatt (MW) run-of-the-river Patrind hydropower (more…)

(EnergyAsia, October 13 2011, Thursday) — As a result of its rising global influence, China is gaining the upper hand over Russia and changing the nature of their strategic partnership, said Finland’s Stockholm International Peace Research Institute (SIPRI). In a new report, China’s Energy and Security Relations with Russia: Hopes, Frustrations and Uncertainties, the think (more…)

(EnergyAsia, October 13 2011, Thursday) — Australia’s Xstrata Coal said it has agreed to acquire the entire Lossan metallurgical coal deposit in Canada from Cline Mining Corporation for C$40 million. (US$1=C$1.05). The acquisition was completed yesterday. Located in the Peace River Coalfield of north eastern British Columbia province, Lossan is surrounded by a group of (more…)

(EnergyAsia, October 13 2011, Thursday) — Law firm Clifford Chance said it advised Sumisho Coal Australia on its recent investment in the A$2.5 billion Stage One of the privately owned and funded Wiggins Island Coal Export Terminal (WICET) in Queensland state. Sumisho Coal, a subsidiary of Japan’s Sumitomo Corporation, is involved in a number of (more…)

(EnergyAsia, October 12 2011, Wednesday) — US-based Arch Coal Inc has announced organisational changes in its sales and human resources functions and the opening of a sales office in London. Matt Ferguson will join next February 1 as a senior vice president of Arch Coal Sales Inc, reporting to David Warnecke, Arch’s senior vice president (more…)

(EnergyAsia, October 12 2011, Wednesday) — Mongolia has a bright future but needs to continue economic reform and ensure that the fruits of development are extended to all its people, said Haruhiko Kuroda, President of the Asian Development Bank (ADB). He made the call at this week’s ADB-Mongolia Partnership Forum – A Roadmap for a (more…)

(EnergyAsia, October 11 2011, Tuesday) — China’s largest oil and gas producer, Sinopec Group, has offered to fully acquire Canadian upstream company Daylight Energy Ltd for C$2.2-billion. (US$1=C$1.05). Subsidiary Sinopec International Petroleum Exploration is offering to pay C$10.08 per common share of Daylight for a 43.6% premium over the Calgary-based company’s 60-day average share price. (more…)

(EnergyAsia, October 10 2011, Monday) — China Aviation Oil (Singapore) Corporation Ltd (CAO), Asia’s largest physical jet fuel trader, said it has agreed to pay 34-billion won for a 26% stake in Oilhub Korea Yeosu Co Ltd (OKYC) which is building a fuel storage terminal in the South Korean port city of Yeosu. (US$1=1,167 won). (more…)

(EnergyAsia, October 10 2011, Monday) — Mercuria Energy Group Holdings SA, a wholly owned subsidiary of Switzerland’s Mercuria Energy Group Ltd, said it has completed a financing transaction and partnership with US coal producer Bowie Resources LLC. Mercuria Energy Group has taken over from another company as Bowie’s primary senior lender and is also providing (more…)

(EnergyAsia, October 10 2011, Monday) — Accelergy Corporation, a US-based global leader in the production of clean, high-grade, synthetic liquid fuels, said it is teaming up with China’s Yankuang Group to build a large-scale, low carbon, hybrid coal-to-liquids (CTL) plant in Inner Mongolia province. The partners expect to soon begin feasibility study of the 68,000 (more…)

(EnergyAsia, October 7 2011, Friday) — A study led by Norway’s DNV has concluded that coalbed methane (CBM) could become as important an energy source for Asia and Australia, as shale gas has for North America. To achieve its potential, the CBM industry must overcome critical commercial, technical and regulatory challenges by implementing reliable verification, (more…)

(EnergyAsia, October 7 2011, Friday) — Australia’s OGL Resources Limited said it has been granted a 15-year renewal on the lease for its Ebenezer coal mine in Queensland state, backdated to November 1 2008. The ASX-listed company said it received the renewal for the ML 4712 permit on September 16, paving the way for it (more…)

(EnergyAsia, Oct 7 2011, Friday) — Finland is the best country for mining and petroleum investment, according to Aspermont’s RESOURCESTOCKS magazine’s 2011 World Risk Survey, while Australia showed renewed appeal for companies. With a score of 7, Finland had the lowest and therefore best risk rating out of a potential maximum high-risk score of 34. (more…)

(EnergyAsia, October 6 2011, Thursday) — The Australian Coal Association (ACA) has repeated its call for the Federal Government to withdraw the carbon tax legislation following the release of the latest world economic update by the International Monetary Fund (IMF). With the proposed carbon tax due to be implemented next July, ACA chairman John Pegler (more…)