(EnergyAsia, December 12 2011, Monday) — Pipeline politics have become a unique and central feature of post-Soviet politics as Central Asia gas producing countries struggle to break free of Russian control while seeking to avoid being dominated by Western Europe and China. Since the break-up of the Soviet Union in 1991, Russia, which controls extensive...
(EnergyAsia, December 9 2011, Friday) — Declaring an end to the era of cheap oil, Brazil’s leading oilman said “the new normal will be a very tight oil market.” José Sergio Gabrielli de Azevedo, CEO of Brazil’s state-owned Petrobras, made this call at the fifth annual Platts Global Energy Outlook Forum entitled, “The World’s Quest...
(EnergyAsia, December 9 2011, Friday) — Singapore’s Loyz Energy said upstream subsidiary Loyz Oil Pte Ltd will acquire majority interests in two oil and gas exploration permits in New Zealand and Australia as it looks to establish itself in the Asia-Pacific region. In Australia, Loyz Oil’s wholly-owned Loyz Oil Australia Pty Ltd will secure an (more…)
(EnergyAsia, December 9 2011, Friday) — Energy demand will rise through 2040 as global economic output doubles and prosperity expands across a world which will have a population of nearly nine billion people, said Exxon Mobil Corporation’s latest annual forecast. In its Outlook for Energy: A View to 2040, ExxonMobil projects that global energy demand (more…)
(EnergyAsia, December 9 2011, Friday) — Malaysia’s Benalec Holdings Berhad and Singapore’s Rotary Engineering Limited said they have signed a memorandum of understanding (MOU) to develop an independent deepwater terminal in Malaysia to store, handle and blend oil products for the international markets. To be built on a reclaimed 250-acre site in Tanjung Piai at (more…)
(EnergyAsia, December 9 2011, Friday) — Australia’s Leighton Offshore has launched its new engineering business and fully owned subsidiary DPS Leighton Engineering Sdn Bhd (LE) in Malaysia to provide engineering, procurement management and construction (PMC) services to the oil and gas industry. The company said it grew its detailed engineering and PMC arm after acquiring (more…)
(EnergyAsia, December 8 2011, Thursday) — Energy advisory firm Global Pacific & Partners is opening a regional office in Singapore with a cocktail reception today on sixth floor of the Mandarin Orchard Hotel from 5.30 pm. Chairman and CEO Duncan Clarke and vice chairman Babette van Gessel will host the reception to announce the (more…)
(EnergyAsia, December 8 2011, Thursday) — Qatar’s RasGas Company Limited said its subsidiary has agreed to supply liquefied natural gas (LNG) to Taiwan’s state-owned CPC Corp (CPC) 1.5 million tonnes of LNG a year for 20 years from 2013. Ras Laffan Liquefied Natural Gas Company Limited 3, or RL 3, has also agreed to supply (more…)
(EnergyAsia, December 7 2011, Thursday) — Qatargas has signed off on a tripartite sales and purchase agreement to supply liquefied natural gas (LNG) to Japan’s Chubu Electric Power Company and Shizuoka Gas Company from 2016. At a signing ceremony at the 2011 World Petroleum Conference in Doha this week, Qatargas said it will transport and (more…)
(EnergyAsia, December 8 2011, Thursday) — Chevron Australia Pty Ltd and its joint venture participants have started work on their A$29 billion Wheatstone natural gas project with a groundbreaking ceremony at Ashburton North near Onslow on Western Australia’s Pilbara coast. (US$1=A$0.98). As one of Australia’s largest project developments, Wheastone comprises two liquefied natural gas (LNG) (more…)
(EnergyAsia, December 7 2011, Wednesday) — India’s refining industry is sending out mixed signals about the state of its health, boasting plans to substantially expand capacity this decade while at the same time warning that mounting financial osses threaten its viability. Oil Minister S. Jaipal Reddy last month announced that India will expand its oil...
(EnergyAsia, December 7 2011, Wednesday)— East Asia, excluding Japan, faces rising risks from a deep global economic downturn brought on by Europe’s sovereign debt problems and an anemic US economy, said the Asian Development Bank (ADB). But the bank added in its latest Asia Economic Monitor report that the impact on the region would manageable (more…)
(EnergyAsia, December 7 2011, Wednesday) — Two Australian firms said they have confirmed coal seams deposits and hydrocarbon finds in their areas of operations in Botswana and Texas state in the US. Hodges Resources Ltd said laboratory results for the first two diamond core holes at its Morupule South project have confirmed coal seams deposits. (more…)
(EnergyAsia, December 7 2011, Wednesday) — US refiners will pay an average US$102 a barrel for their crude oil next year, up by a dollar from this year, while natural gas will become cheaper, falling from US$4.02 per million British Thermal Unit (BTU) to US$3.70, according to the latest short-term forecast by the US Energy (more…)
(EnergyAsia, December 7 2011, Wednesday) — Exxon Mobil Corp sees the growth in world energy demand as “a cause for optimism because it will signal economic recovery and progress”. In his speech at the 20th World Petroleum Congress in Doha, Qatar, yesterday, Rex W. Tillerson, the US major’s chairman and CEO, said world energy demand (more…)
(EnergyAsia, December 6 2011, Tuesday) — The story below written by Yahoo Singapore’s finance editor Elena Torrijos was published by Yahoo Singapore on December 3. Singapore needs to plan an economic roadmap that takes into account the likelihood that the price of oil could reach between US$200 and US$300 per barrel, a writer and analyst (more…)
(EnergyAsia, December 6 2011, Tuesday) — Oil prices continued to edge up as the combined push of rising global demand and geopolitical tensions in the Middle East and Africa over-rode the bearish pull of the rapidly deteriorating state of the US and European economies. North Sea Brent has held up stubbornly around US$110 a barrel (more…)
(EnergyAsia, December 6 2011, Tuesday) — Australia’s Cougar Energy said it has signed a memorandum of understanding (MOU) with Indonesian mining company PT Medco Energi Mining Internasional to look into jointly identifying and developing underground coal gasification projects. The partners have agreed to assess and identify coal deposits in Indonesia for application of underground coal (more…)
(EnergyAsia, December 6 2011, Tuesday) — India will boost its oil refining capacity by more than 22% to 238 million tonnes over the next two years with the start-up of new refineries and expansion of existing ones, said Minister of State for Petroleum and Natural Gas R. P. N. Singh. State-owned Indian Oil Corp (IOC),...
(EnergyAsia, December 6 2011, Tuesday) — If the world is counting on natural gas supply from shale and other unconventional sources to meet its growing demand for energy, it must move quickly and decisively to overcome the threats, complaints and fears brought on by the hydraulic fracturing or ‘fracking’ method of production. Predictions for a...
(EnergyAsia, December 5 2011, Monday) — The ExxonMobil-led Papua New Guinea liquefied natural gas (LNG) project is being implemented according to schedule but it faces a four percent rise in cost to US$15.7 billion on account of a rising Australian dollar, said a venture partner. Australia’s Oil Search which has a 29% stake in the (more…)
(EnergyAsia, December 5 2011, Monday) — China is hoping to ease the country’s worsening power shortages by allowing electricity prices to rise from December 1, its first increase in six months, while capping the rise in cost of thermal coal to less than 5% from next year. The National Development and Reform Commission (NDRC), the...
(EnergyAsia, December 5 2011, Monday) — With its large growing stake in southern Iraq, Shell has suspended negotiations with officials in Kurdistan to avoid incurring the wrath of the Baghdad government which has threatened sanctions against ExxonMobil for dealing with the troubled semi-autonomous region. A partner with ExxonMobil to develop the 8.7-billion barrel West Qurna...
(EnergyAsia, December 5 2011, Monday) — NYSE-listed InterOil Corporation and Pacific LNG Operations Ltd have signed a heads of agreement (HOA) with China’s ENN Energy Trading Company Ltd for the annual supply of one to one and 1.5 million tonnes of liquefied natural gas (LNG) from the Gulf LNG Project in Papua New Guinea. While (more…)
(EnergyAsia, December 5 2011, Monday) — Qatar Petroleum and Royal Dutch Shell yesterday signed a heads of agreement covering the scope and commercial principles for the development of a world-scale petrochemicals complex in Qatar’s Ras Laffan Industrial City. The partners are looking to develop a world-scale steam cracker to be fuelled by Qatar’s natural gas, (more…)