(EnergyAsia, January 27 2012, Friday) — China National Petroleum Corp (CNPC) said it, Qatar Petroleum and Royal Dutch Shell have agreed to advance their plans to jointly develop a 80-billion-yuan integrated oil refinery-petrochemical complex in eastern China. (US$1=6.3 yuan). The complex which includes a 400,000-b/d refinery and a 1.2-million-tonne/year ethylene plant will be built in...
(Energy Asia, January 27 2012, Friday) — China’s import of piped natural gas from Central Asia reached 20 billion cubic meters (bcm) in early January and is on course to exceed 30 bcm by the end of the year, said China National Petroleum Corp (CNPC). As operator of the Central Asia-China pipeline, CNPC announced that...
(EnergyAsia, January 27 2012, Wednesday) — China’s oil demand growth slowed to 6.1% last year compared with 11.3% in 2010, said McGraw Hill’s energy media unit Platts. Despite signs of an economic slowdown in the second half of the year, Platts said China’s apparent oil demand for 2011 reached a record 460.65 million metric tons, (more…)
(EnergyAsia, January 27 2012, Friday) — The Arab Petroleum Investments Corporation (APICORP), a multilateral bank owned by the 10 member states of the Organisation of Arab Petroleum Exporting Countries (OAPEC), has announced record profits for the fourth quarter of 2011. The bank, in which the Qatar government has a 10% stake, said profits surged 86% (more…)
(EnergyAsia, January 27 2012, Friday) — Masdar, Abu Dhabi’s renewable energy company, and Reed Exhibitions said they will jointly hold the ‘Asia Future Energy Forum & Exhibition’ (AFEF) in Singapore from October 22 to 25 2012. AFEF 2012, “Powering Sustainable Innovation in Asia”, will discuss the region’s energy issues, challenges and opportunities. It will be (more…)
(EnergyAsia, January 26 2012, Thursday) — Following the meeting of the foreign ministers of its members in Brussels on Monday, the European Union has decided to launch new sanctions against Iran for continuing with its nuclear energy programme. In a statement, the 27-member EU said it has decided to broaden measures by targeting the sources of...
(EnergyAsia, January 26 2012, Thursday) — UK consultant Wood Mackenzie has made an initial assessment of potential implications for 2012 of the growing Iran-related tensions on the oil and gas markets following on further US and EU sanctions against Iran and its threat to close the Strait of Hormuz to shipping traffic. With further US...
(EnergyAsia, January 26 2012, Thursday) — Australia’s Liquefied Natural Gas (LNG) Ltd has awarded an engineering, procurement and construction (EPC) services contract to China Huanqiu Contracting & Engineering Corporation for its Fisherman’s Landing liquefied natural gas project in Queensland state. The companies signed the US$760 million contract for the first train, including the tank and support (more…)
(EnergyAsia, January 26 2012, Thursday) — Norway’s DNV said it has been commissioned by the Flemish government to undertake a feasibility study for the provision of liquefied natural gas (LNG) bunkering facilities at the ports of Antwerp, Zeebrugge and Ghent in Belgium. The work will consist of a market survey, a risk and safety analysis, (more…)
(EnergyAsia, January 26 2012, Thursday) — Engineering giant Foster Wheeler said a subsidiary of its Global Engineering and Construction Group has been awarded a contract by Petron Corporation to upgrade its oil refinery in Bataan in the Philippines. Foster Wheeler said it will execute detailed engineering and procurement services for the delayed coker unit (DCU), including (more…)
(EnergyAsia, January 25 2012, Wednesday) — The world’s vulnerability to further economic shocks and social upheavals is undermining the past gains of globalisation, said the World Economic Forum (WEF) in its Global Risks 2012 report, the seventh edition. It marked chronic fiscal imbalances and severe income disparity as the most prevalent risks over the next (more…)
(EnergyAsia, January 25 2012, Wednesday) — China Aviation Oil Singapore Corporation Ltd (CAO), the largest physical jet fuel trader in Asia, said it will pay a total of US$16 million to acquire two jet fuel companies from its parent company, China National Aviation Fuel Group Corporation (CNAF). CAO will pay HK$91 million or US$12 million (more…)
(EnergyAsia, January 25 2012, Wednesday) — Indonesia’s state oil and gas company Pertamina said it expects to raise its annual import of gasoline to more than 12 million kilolitres and diesel to over three million kilolitres from this year. With the nation’s fuel demand forecast to rise by more than four percent a year from...
(EnergyAsia, January 25 2012, Wednesday) — Indonesia’s state oil and gas firm Pertamina said its Pertamina Energy Services (PES) has started building a US$50 million fuel terminal on Sambu island in Riau with the capacity to store 300,000 kilolitres of fuel. Due for completion next year, the terminal will include three docks to each handle...
(EnergyAsia, January 25 2012, Wednesday) — Bangladesh has partially ended the state’s monopoly over fuel oil import by allowing independent power producers to procure supplies for their power plants. Faced with worsening power shortages, the government took this drastic decision after state-owned Bangladesh Petroleum Corp admitted that it would be unable to guarantee fuel supply...
(EnergyAsia, January 20 2012, Friday) — Royal Dutch Shell Plc and Tianjin State Farms Agribusiness Group Co will jointly develop and own a 200,000-cubic metre fuel storage terminal in the northern Chinese city of Tianjin. The newly set up Shell North China Oil Group Ltd will begin construction of the proposed 550-million-yuan terminal in mid-2012....
(EnergyAsia, January 20 2012, Friday) — EOC Limited (EOC), a Singapore-based provider of offshore services to oil and gas producers, said its FY2012 Q1 net profit surged more than 14 times to US$8.5 million over the same period the previous year. Boosted by strong performances at both its construction and production divisions, the company said revenue (more…)
(EnergyAsia, January 20, 2012, Friday) — Malaysian state energy firm Petronas said it and its partners have signed a transition agreement with the government of South Sudan for their continued operations in the country’s upstream blocks previously awarded by the government of the Republic of the Sudan. South Sudan seceded from Sudan last year. The...
(EnergyAsia, January 20, 2012, Friday) — Asian cities must focus on developing liveable, competitive, inclusive and environmentally sustainable cities supported by imporved transportation systems, said the Asian Development Bank (ADB). At a recent forum in Manila, Philippines, ADB President Haruhiko Kuroda said that with 80% of Asia’s GDP coming from urban areas, the quality and (more…)
(EnergyAsia, January 20 2012, Friday) — Engineering giant Foster Wheeler AG said subsidiary Foster Wheeler India Private Limited has won a contract to develop a new five-million-tonne/year liquefied natural (LNG) receiving terminal in Ennore city in the Indian state of Tamil Nadu by 2016. Awarded by state-owned Indian Oil Corporation Limited (IOCL), the contract’s scope (more…)
(EnergyAsia, January 19 2012, Thursday) — The Organization of the Petroleum Exporting Countries (OPEC) produced 30.83 million b/d of crude oil in December, up 230,000 b/d from estimated November output of 30.6 million b/d, said energy media Platts. In its latest survey of OPEC and oil industry officials and analysts, Platts said Libya accounted for...
(EnergyAsia, January 19 2012, Thursday) — Russia has promised to increase the supply of liquefied natural gas (LNG) to India from 2016, but price and sales terms are likely to be hurdles for any attempted major long-term deals between the two sides. Russian President Dmitry Medvedev made the promise in welcoming Indian Prime Minister Manmohan...
(EnergyAsia, January 19, 2012, Thursday) — UK-based international learning and skills specialist Atlas said it has accredited the Al Delma facility in Iraq’s Basra City to provide the International Minimum Industry Safety Training (IMIST) programme for the oil and gas industry. The Al Delma centre will be capable of delivering the programme to as many (more…)
(EnergyAsia, January 19 2012, Thursday) — Global energy demand will grow by an average annual rate of 1.6% or a total 39% over the next 20 years fuelled by economic and population growth in non-OECD countries, said BP’s latest Energy Outlook 2030. But it’ll grow at a “slowing annual rate” due in part to increased (more…)
(EnergyAsia, January 19, 2012, Thursday) — EMAS, a global offshore contractor and operating brand for Singapore-based Ezra Holdings Limited, said its subsea construction division, EMAS AMC, has secured two contracts to provide mooring chain and riser replacements in the North Sea on the Norwegian Continental Shelf. The combined value of the contracts awarded by Norway’s (more…)