(EnergyAsia, September 20 2011, Tuesday) — Boosted by production increases at TNK-BP and Gazprom, Russia’s oil output reached a recent high of 10.28 million b/d in August, eclipsing the previous month’s by 20,000 b/d and year-ago levels by 212,000 b/d, said the Energy Ministry. Russia kept the title of world’s leading oil producer, ahead of...
(EnergyAsia, September 20 2011, Tuesday) — Metso said it has established a joint venture with SAC Guodian Nanjing Automation Co Ltd (previously State Automation Company), to expand in the power automation control systems market in China. SAC will own a two-third stake in the new company which will develop the digital power plant concept focusing...
(EnergyAsia, September 20 2011, Tuesday) — Another study has concluded that the world’s supply of “cheap” oil is coming to an end soon. In its recently released “Technology Outlook 2020” report, Norway’s DNV group said demand is growing at a faster rate than supply, raising the cost of finding, producing, processing and marketing oil in...
(EnergyAsia, September 20 2011, Tuesday) — Access to reserves has overtaken uncertain energy policy as the biggest risk facing oil and gas companies today, according to Ernst & Young’s latest Top 10 ranking of industry risks. In releasing its report, “Turn risks and opportunities into results”, Sanjeev Gupta, Asia-Pacific Oil & Gas Leader for Ernst (more…)
(EnergyAsia, September 19 2011, Monday) — As a sign of Sri Lanka’s growing economy, Colombo port has started up a new 5,200-tonne oil storage tank and plans to build more to meet rising trade in bunker fuel and other products. The Sri Lanka Ports Authority (SLPA) said the Colombo terminal is expanding its tank capacity...
(EnergyAsia, September 19 2011, Monday) — Helped by investment from China, Iranian officials believe their nation’s crude oil production could reverse recent declines and rise by 25% to exceed five million b/d by 2015. National Iranian Oil Company (NIOC) chief Ahmad Qalebani told the state media IRNA that his country is on course to achieve...
(EnergyAsia, September 19 2011, Monday) — Insurance and risk management services provider Aon Corp has appointed former ExxonMobil executive Martin Westacott as regional director for its energy services under Aon Risk Solutions Asia. Mr Westacott, who has 25 years of experience in the upstream and downstream energy and chemical sectors, will focus on key energy (more…)
(EnergyAsia, September 19 2011, Monday) — Foster Wheeler AG said its Global Engineering and Construction Group and Honeywell’s UOP will jointly supply the technology for a basic engineering design package for a solvent deasphalting (SDA) unit at the Sohar oil refinery in Oman. The consortium was awarded the contract by Oman Refineries and Petrochemicals Co (more…)
(EnergyAsia, September 19 2011, Monday) — Canada must seize the current window of opportunity and huge potential to expand its energy trade and investment ties with Asia, according to a poll of 645 citizens conducted by the Asia Pacific Foundation of Canada (APFC) who are professionally engaged with the region. Noting that the window “will (more…)
(EnergyAsia, September 16 2011, Friday) — ExxonMobil said it and Russian oil and gas giant Rosneft have agreed to plan to jointly explore for and develop hydrocarbon resources in Russia, the US and other parts of the world, as well as share technology and expertise. Rosneft will have a two-third stake in the joint-venture covering...
(EnergyAsia, September 16 2011, Friday) — Caltex Australia said it will triple its bitumen storage capacity in New South Wales and secure long-term supply continuity for its customers across the state. Ken James, the company’s General Manager for Supply & Distribution, said the agreement with Terminals Pty Ltd for the use of its emerging bitumen...
(EnergyAsia, September 16 2011, Friday) — The Asian Development Bank (ADB) said it is providing a multitranche financing facility of up to US$500 million to help Uzbekistan reconstruct around 230 kilometers of poor quality roads that will improve road connectivity and safety, as well as boost trade along a key regional transport corridor linking Asia (more…)
(EnergyAsia, September 16 2011, Friday) — With global energy demand and prices expected to stay high, researchers at Norway’s DnB NOR Markets have maintained their bullish outlook on companies in the offshore oil and gas sector. In its fifth annual survey of 65 global exploration and production (E&P) companies in (E&P), DnB NOR said they (more…)
(EnergyAsia, September 16 2011, Friday) — Wartsila, the Finland-based marine solutions provider, said it and Shell Oil Company have signed a multi-year agreement to jointly promote the use of liquefied natural gas (LNG) as a marine fuel. Supplies of low cost, low emissions LNG fuel will be made available to Wartsila’s natural gas-powered vessel operators, (more…)
(EnergyAsia, September 16 2011, Friday) — Australian engineering and construction company Clough Limited said its Clough Downer Joint Venture (CDJV) has been awarded a A$600 million contract to construct pipelines, compression facilities and associated infrastructure for the Santos-led liquefied natural gas (LNG) project in Queensland state. (US$1=A$0.95). CDJV secured the project from main contractor Fluor (more…)
(EnergyAsia, September 15 2011, Thursday) — CME Group’s NYMEX exchange has listed swap futures based on the API 6 index, an Australian coal export benchmark jointly published by UK’s Argus and US-based IHS McCloskey. According to Argus, the new swap futures became available for trading on the NYMEX trading floor on September 12, and has...
(EnergyAsia, September 15 2011, Thursday) — Australia’s Eden Energy Ltd said it is planning to spin off and list its wholly-owned UK coal seam methane and shale gas subsidiary, Eden Energy (UK) Ltd, as a new company to be called Adamo Energy Ltd. Eden said it aims to raise A$10 million from the proposed listing...
(EnergyAsia, September 15 2011, Thursday) — Indonesia risks losing investments in its coal mining sector if it enforces an export ban and demands that miners increase allocation for domestic consumption. The government has drafted a plan to ban the export of low-quality grade thermal coal and wants miners to increase their allocation to domestic consumers...
(EnergyAsia, September 15 2011, Thursday) — The Indonesian government has begun dampening speculation that it is planning to impose a ban on low-calorie coal exports from 2014. Coal companies have expressed concern that any form of restriction or ban on exports could choke off investments into the sector, particularly from international players, and badly damage...
(EnergyAsia, September 15 2011, Thursday) — The Electricity Generating Authority of Thailand (Egat) said it has dropped its plans for developing nuclear power and will focus on clean coal instead. In a submission to the Energy Ministry, has significantly revised its original 10-year national power plan to 2020 in the wake of the March 11...
(EnergyAsia, September 12 2011, Wednesday) — Indonesia could boost its coal exports to Japan by a third to 30 million tons this year, according to the Indonesian Association of Coal Miners. Following the March 11 tsunami-earthquake tragedy, Japan has shut down more than two thirds of its nuclear power capacity, and has turned to generating...
(EnergyAsia, September 14 2011, Wednesday) — Australia’s Cougar Energy Limited said it is considering appealing to the Queensland Land Court against the Queensland state government’s decision to restrict its underground coal gasification (UCG) activities near Kingaroy town, 210 km northwest of Brisbane city. The state’s Department of Environment and Resource Management (DERM) has told the...
(EnergyAsia, September 14 2011, Wednesday) — Solid Energy New Zealand (SENZ) said it has begun constructing a commercial-scale demonstration plant using GTL Energy Ltd’s proprietary coal upgrading process and equipment. SENZ is due to start up the first phase of its plant at Mataura by mid-2012 producing up to 90,000 tonnes a year of low-moisture (more…)
(EnergyAsia, September 12 2011, Wednesday) — Indonesia could boost its coal exports to Japan by a third to 30 million tons this year, according to the Indonesian Association of Coal Miners. Following the March 11 tsunami-earthquake tragedy, Japan has shut down more than two thirds of its nuclear power capacity, and has turned to generating...
(EnergyAsia, September 14 2011, Wednesday) — Australia’s MetroCoal said it is selling 32 million shares representing a 15% stake to a leading Chinese coal services groups, DADI Engineering Development Group Co Ltd (DADI), for A$24 million. (US$1=A$0.95). MetroCoal said the money raised from selling 32 million shares at A$0.75 each will be used to develop (more…)