(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…)

(EnergyAsia, October 6 2011, Thursday) — Norway’s DNV said it has established a Greater China Pipeline Technical Consultative Committee with Yang Zupei, Secretary General of the Chinese state-owned CNPC Oil & Gas Storage and Transportation Standardization Committee, as its first chairman. DNV said this is its second pipeline committee in the world and the first (more…)

(EnergyAsia, October 6 2011, Thursday) — In a major blow to the nuclear lobby, German industrial and engineering giant Siemens said it is quitting the business of managing, building or financing nuclear plants. In an interview with the Der Spiegel newspaper, the company’s President and CEO, Peter Loescher, said Siemens is exiting the business as a (more…)

(EnergyAsia, October 6 2011, Thursday) — Dubai Electricity and Water Authority (DEWA) said it has extended the final date of receiving bids for the proposed 1,500MW Hassyan-1 Independent Power Project to December 12 2011. The state agency said it did so on the request of the 18 companies invited to submit their bids to develop (more…)

(EnergyAsia, October 5 2011, Wednesday) — The government of Canada’s British Columbia province said it will contribute C$15 million to a C$90-million investment to expand the Ridley Island terminal capacity to support Western Canada’s export of natural resources including coal to Asia. (US$1=C$1.05). The project, on the Port of Prince Rupert, includes construction of new (more…)

(EnergyAsia, October 5 2011, Wednesday) — InterOil Corporation said it is seeking strategic partners for its liquefied natural gas (LNG) project in Papua New Guinea currently being developed by its joint venture entity, Liquid Niugini Gas Limited. InterOil said it has retained Morgan Stanley & Co. LLC, Macquarie Capital (USA) Inc and UBS AG as (more…)