(EnergyAsia, May 16 2011, Monday) — Longwei Petroleum Investment Holding Ltd (LPH), a New York-listed company engaged in storing and distributing oil products in China, has announced its plan for financing the acquisition of the fuel storage assets of Haujie Petroleum Co Ltd in China’s northern Shanxi Province for RMB700 million (US$1=RMB6.5). LPH had earlier (more…)

(EnergyAsia, May 16 2011, Monday) — With domestic natural gas reserves in decline, coal will be the fuel of choice for power generation in Southeast Asia by 2030, said Scotland-based consulting firm Wood Mackenzie. In a report titled “Can coal deliver to Southeast Asia?”, Graham Tyler, the firm’s Head of South East Asia Gas and (more…)

(EnergyAsia, May 13 2011, Friday) — Arch Coal Inc, one of the biggest coal producers in the US, said it has established a new subsidiary, Arch Coal Asia-Pacific Pte Ltd, with Renato Paladino as president of the Singapore-based operations. Mr Paladino, who will be responsible for Asia-Pacific regional business development, marketing and sales of thermal (more…)

(EnergyAsia, May 13 2011, Friday) — The economies of the Caucasus and Central Asia (CCA) are expected to grow by less than six percent in 2011, down slightly from 6.5% in 2010, the International Monetary Fund (IMF) said in its latest economic outlook for the region. The CCA region includes Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyz Republic, (more…)

(EnergyAsia, May 12 2011, Thursday) — Synthesis Energy Systems Inc (SES), a Nasdaq-listed global energy and gasification technology company serving the energy and chemicals industries, said it has secured an agreement for a US$83.8 million cash investment from China Energy Industry Holding Group Co Limited (China Energy). SES said the investment will be used to (more…)

(EnergyAsia, May 11 2011, Wednesday) — Any additional taxes on Australia’s resources sector must be designed so they do not damage its international competitiveness, said an adviser to South Australia state government. Speaking at the Paydirt 2011 South Australian Resources & Energy Investment Conference in Adelaide, Minerals and Petroleum Experts Group chairman, Ian Gould, said (more…)

(EnergyAsia, May 10 2011, Tuesday) — France’s GDF SUEZ said it has agreed to supply 2.5 million tons of liquefied natural gas (LNG) over a 45-month period to Petronas LNG Ltd, a wholly-owned subsidiary of the Malaysian state oil and gas company from August 2012. GDF SUEZ, which walked away from a supply deal with (more…)

(EnergyAsia, May 10 2011, Tuesday) — Schilling Robotics LLC, a US-based expert in subsea systems, said it has secured an order for eight Heavy-Duty™ (HD™) remote operated vehicles (ROV) systems from integrated offshore oil and gas solutions provider EMAS, the operating arm of Singapore-based Ezra Holdings Limited. The systems, rated for 4,000 metres below surface, (more…)

(EnergyAsia, May 9 2011, Monday) —Canada’s Prophecy Resource Corp said it has submitted a formal request to Mongolia’s Ministry of Natural Resources and Energy to build the 600MW Chandgana power plant in Khentii province in central Mongolia. The Vancouver, British Columbia-based company said it submitted the request after investing eight months in due diligence, research (more…)

(EnergyAsia, May 9 2011, Monday) —- Indonesia’s Total Sinergy International (TSI) recently announced the launch of its Geo-Coal technology which it describes as a simple and economical process of upgrading the energy content of low rank coal by 50% to 100%. The company said it has filed a patent through law firm Drew & Napier (more…)

(EnergyAsia, May 6 2011, Friday) — Altona Energy said its proposed US$3.5 billion coal-to-liquids and power plant in the Arckaringa Basin would provide long-term fuel security for South Australia state. Speaking at the recent Paydirt 2011 South Australian Resources & Energy Investment Conference in Adelaide, Altona executive director Peter Fagiano said the project could also augment (more…)

(EnergyAsia, May 6 2011, Friday) — Swedish engineering group Sandvik AB said its mining and construction unit and China’s Shandong Energy Machinery Co have signed an agreement to form an equal joint venture to produce and sell coal mining equipment. The joint venture is expected to become operational by end-2011 subject to customary regulatory approvals. Based (more…)

(EnergyAsia, May 5 2011, Thursday) — Norway’s DnB NOR Markets has issued a buy rating on RH Petrogas, a Singapore Exchange-listed upstream oil and gas company with asset exposure to China and Indonesia. Calling the company a “heavy hitter”, DnB NOR has set a price target of S$1.12 on the stock from its recent level (more…)

(EnergyAsia, May 5 2011, Thursday) — PHI Energy Corporation, a minority owned subsidiary of US-based PHI Group Inc, said it and AXN Group LLC have agreed to jointly purchase coal mine assets from Indonesia’s PT Dian Anugrah Pratama (DAP). PHI Group is engaged in merger and acquisition advisory services, real estate development, and mining and (more…)

(EnergyAsia, May 5 2011, Thursday) — Clean Coal Technologies Inc (CCTI), a New York-based clean energy technology company, said it has signed an agreement to license its technology to China’s Huamin Senior Fund Holding Group Co Ltd. As part of the agreement, Huamin will initially construct a 1.5-million-ton-per-year clean coal facility that will be gradually (more…)

(EnergyAsia, May 4 2011, Wednesday) — Asia’s rapid economic growth is being fuelled by both exports and domestic demand, said the International Monetary Fund (IMF) in its latest Regional Economic Outlook (REO) for Asia and the Pacific. The region’s economy is expected to grow by nearly seven percent this and next year, said Anoop Singh, (more…)

(EnergyAsia, May 3 2011, Tuesday) — The Asian Development Bank (ADB) said it will provide up to US$150 million in credit guarantees to help India scale up its use of solar power as a major renewable energy source. The guarantees will be available to local and foreign commercial banks that finance private sector solar power (more…)

(EnergyAsia, May 3 2011, Tuesday) — The Siemens-Samsung consortium executing the engineering, procurement and construction (EPC) contract for Island Power’s project on Singapore’s Jurong Island officially took over the site and started work on April 22. The EPC contract for the 800MW plant, signed in January 2007 when the project was owned by US-based Intergen, (more…)

(EnergyAsia, April 29 2011, Friday) — The Harren & Partner Group and Goldman Sachs Capital Partners said they have agreed to invest a total of US$500 million in Singapore-based OIG Offshore Installation Group to help finance the company’s strategic growth and acquisition of additional vessels. OIG Offshore Installation Group is an offshore engineering contract procurement (more…)

(EnergyAsia, April 28 2011, Thursday) — ABB, the Switzerland-based power and automation technology group, said it has won an order worth US$18 million to upgrade and modernise control systems a 1,260 megawatt (MW) thermal power plant in the western Indian state of Gujarat. The contract was awarded by Gujarat State Electricity Company Limited (GSECL) for (more…)

(EnergyAsia, April 28 2011, Thursday) — Rolls-Royce, the UK-based global power systems company, said it recently secured a contract to supply gas compression equipment to PetroChina, the country’s largest oil and gas producer, for its West-East gas pipeline project. Rolls Royce said it will supply and install its RB211 gas turbine compressor packages at the (more…)

(EnergyAsia, April 28 2011, Thursday) — Australia Pacific LNG Pty Ltd has agreed to supply China Petroleum & Chemical Corporation (Sinopec) 4.3 million tonnes of liquefied natural gas (LNG) per year for 20 years from its coal seam gas (or coalbed methane) resources and proposed LNG facility on Curtis Island in Gladstone in Queensland state. (more…)

(EnergyAsia, April 27 2011, Wednesday) — China’s oil appetite remained strong, rising 10.5% year-on-year to 38.96 million metric tons (mt), or 9.2 million b/d, in March said McGraw-Hill’s energy media specialist Platts.  While March demand eased from February’s peak of 9.58 million b/d, Platts said this is still fairly robust, as the world’s second largest (more…)

(EnergyAsia, April 25 2011, Monday) — Malaysia’s state-owned oil and gas firm Petronas said it has agreed to sell off its 14.94% stake in Cairn India Limited to India’s Vedanta Group for about US$2.1 billion. Sesa Goa, a Vedanta subsidiary, is offering to buy Cairn India shares from minority shareholders for 335 rupees per share. (more…)

(EnergyAsia, April 21 2011, Thursday) — The Asian Development Bank (ADB) is promoting the use of electric vehicles in the Philippines as a cost-effective and energy-efficient mode of transportation. Last week, Philippine President Benigno S. Aquino III transferred 20 ADB-funded electric tricycles (e-trikes) to the City of Mandaluyong, marking an important first step towards a (more…)