(EnergyAsia, January 11 2012, Wednesday) — Norway’s DNV has launched its regional Deepwater Technology Centre (DTC) in Singapore to serve the oil and gas industry in the Asia Pacific region as well as provide deepwater competency and solutions. Targeting a market expected to grow by US$21 billion over the next five years, the centre will (more…)
(EnergyAsia, January 11 2012, Wednesday) — Australian thermal coal company Pan Asia Corp said it has secured US$1 million in funding from Kopex to cover expenses for drilling and work on the final feasibility study at its flagship TCM coal development project in Indonesia’s South Kalimantan province. The funding is repayable at Pan Asia’s election (more…)
(EnergyAsia, January 11 2012, Wednesday) — A Goldman Sachs analyst has predicted that China will overtake the US as the world’s biggest oil importer by late next year. With no let-up in its consumption growth, Jeffrey Currie said China is also not expected to significantly reduce its intake of Iranian crude oil despite US pressure...
(EnergyAsia, January 11 2012, Wednesday) — China’s largest energy producer said its overseas oil and gas fields raised output by 15% to more than 100 million metric tons last year from 86.7 million tons in 2010. China National Petroleum Corp (CNPC) said it owned about 51.7 million tons of those oil and gas produced. The...
(EnergyAsia, January 11 2012, Wednesday) — Australian coal miners Aston Resources Ltd and Whitehaven Coal Ltd are on course to complete their merger by April as announced on December 12. Aston shareholders will receive 1.89 Whitehaven shares for each Aston share they hold. Separately, Whitehaven has agreed to acquire unlisted coal explorer Boardwalk Resources whose...
(EnergyAsia, January 10 2012, Tuesday) — China Petrochemical Corp, or Sinopec Group, said it is targeting to more than double its equity oil output from overseas projects to over one million b/d by 2015 from 2011 while another state firm, Sinochem, said it is buying a 10% stake in five deepwater blocks in Brazil. Sinopec...
(EnergyAsia, January 10 2012, Tuesday) — Indonesia, the world’s largest thermal coal exporter, could produce as much as 390 million tons of coal this year, up from 360 million tons last year. According to the Indonesian Coal Mining Association, the country’s miners have expanded capacity and are positioned to meet rising demand from China, India...
(EnergyAsia, January 10 2012, Tuesday) — The world’s coal demand will grow “aggressively” over the next five years despite public pressure in many countries to reduce their reliance on it as a primary energy source, said the International Energy Agency (IEA). In its annual Medium-Term Coal Market Report 2011 released last month, the IEA forecast...
(EnergyAsia, January 10 2012, Tuesday) — Engineering giant Foster Wheeler AG said a subsidiary of its Global Power Group has been given a “limited notice” to proceed by GS Engineering and Construction to design a circulating fluidised-bed (CFB) steam generator for a project in South Korea’s Daeugu city. The generator is due to start commercial (more…)
(EnergyAsia, January 10 2012, Tuesday) — DNV Petroleum Services (DNVPS) said it has appointed Charlotte Rojgaard to succeed Dag Olav Halle as the company’s global technical manager at its headquarters in Singapore. Mr Halle has returned to Norway as a DNVPS principal consultant. Ms Rojgaard has a Master of Science degree in chemical engineering from (more…)
(EnergyAsia, January 9 2012, Monday) — Driven by fast-rising demand for clean fuel, Asia is expected to expand its regasification capacity by nearly 35% from 14.38 trillion cubic feet (tcf) in 2010 to nearly 19.37 tcf in 2015, according to a just-released report by consultant GlobalData. Asia’s LNG regasification capacity, in billion cubic feet 2010...
(EnergyAsia, January 9 2012, Monday) — China and Japan, the two leading buyers of Iranian crude oil, said they are preparing to reduce imports despite expressing doubts or objections to tighter trade sanctions being imposed by the Western powers to stop Tehran’s nuclear energy programme. China, the main buyer of Iranian oil, is aiming to...
(EnergyAsia, January 9 2012, Monday) — China is investing heavily to expand its coal infrastructure as part of a long-term plan to improve and increase the nation’s power supply capability. The Ministry of Railway said that last year it expanded the nation’s rail capacity to deliver and handle 2.27 billion tonnes of coal a year,...
(EnergyAsia, January 9 2012, Monday) — Compensating for the loss of the bulk of its nuclear power capacity, Japan’s import of liquefied natural gas (LNG) surged more than 12% to over 45.6 million tons in the first six months of the current financial year to September 2011. According to Japanese official data compiled by consultant (more…)
(EnergyAsia, January 6 2012, Friday) — China’s coal producers and miners have assured consumers that they are well positioned to meet the country’s rising demand for the fuel this year. Following last year’s experiences of supply shortages and price volatility, the coal industry has found itself on the defensive to prevent a recurrence of panic...
(EnergyAsia, January 6 2012, Friday) — PetroChina Co, the country’s largest natural gas producer, has started up its second liquefied natural gas (LNG) import and redistribution terminal in the northeastern port city of Dalian. From December 27, the three-million-ton/year terminal began delivering six million cubic metres of gas a day to the Dalian-Shenyang pipeline network...
(EnergyAsia, January 6 2012, Friday) – PHI Group Inc, a US-based company focused on energy and natural resources, said it has signed an agreement with Vietnam’s Hoang Ngoc Joint Stock Company, to jointly develop a 2,000 MW coal-fired power plant in that country. PHI Group said it is working with several international institutional investor groups...
(EnergyAsia, January 6 2012, Friday) — OxfordPrinceton, a leading provider of energy courses around the world, has released its schedule for professional training courses for oil and gas executives to be held in Singapore this year. The 25 courses, to be conducted by experienced former executives at international energy companies and consultants, cover a wide (more…)
(EnergyAsia, January 5 2012, Friday) — Meridian SeamGas, an Australia-based joint venture between WestSide Corporation Limited and Mitsui E&P Australia Pty Ltd, has executed an agreement to fast-track access to gas to help fulfil its contractual obligations and reduce payments to remedy shortfalls. In a statement on behalf of the joint venture, WestSide Corp said (more…)
(EnergyAsia, January 5 2012, Thursday) — Malaysian state oil and gas company Petronas has completed its purchase of a 30% stake in a S$1.2 billion power plant being constructed on Singapore’s Jurong Island by India’s GMR Energy. (US$1=S$1.3). Mumbai-based GMR Infrastructure said its subsidiary, which retains a 70% stake, completed the share transfer in GMR...
(EnergyAsia, January 5 2012, Thursday) — To meet rising domestic demand, state-owned Vietnam National Coal and Mineral Industries Group (Vinacomin) said it plans to reduce coal exports over the next three years from 16.8 million tonnes in 2011. It expects to slash coal exports by nearly 20%, or 3.3 million tonnes, to 13.3 million tonnes...
(EnergyAsia, January 5 2012, Thursday) — China now fully owns a Canadian oil sands project for the first time after Athabasca Oil Sands Corp (AOSC) said it had sold off its remaining 40% stake in a northern Alberta project to a PetroChina subsidiary for C$680 million in cash. (US$1=C$1.03). Calgary-based AOSC said it will reduce...
(EnergyAsia, January 5 2012, Thursday) — As in the case of Iraq, while the West has been sucked into a seemingly never-ending conflict, China has walked away with a tangible prize of a coveted first oil exploration deal from war-torn Afghanistan. To the consternation of the West, Kabul has just approved state-owned China National Petroleum...
(EnergyAsia, January 5 2012, Thursday) — China Petrochemical Corp, also known as Sinopec Group, the country’s second-largest oil company, has agreed to pay Devon Energy Corp up to US$2.2 billion to acquire a one-third stake in five of its exploratory shale oil projects in the US and to cover drilling expenses. Devon Energy said that (more…)
(EnergyAsia, January 4 2012, Wednesday) — Singapore Exchange’s (SGX) AsiaClear service has begun clearing more varieties of over-the-counter (OTC) coal and naphtha swaps over the past month. Since December 5, SGX said it has cleared contracts for OTC CFR South China coal swaps and CFR Japan naphtha swaps. The coal swap contracts are traded in (more…)