(EnergyAsia, July 26 2011, Tuesday) — The Indonesian government is planning to open up the business of importing liquefied natural gas (LNG) to the private sector as it struggles to meet the country’s fast-growing energy demand, said Industry Minister M.S. Hidayat. His ministry has found that domestic production will meet only half the country’s industrial...
(EnergyAsia, July 26 2011, Tuesday) — Singapore-based bathroom products supplier Sim Siang Choon Limited (SSC) said shareholders have approved two resolutions for the company to shift its focus to exploring and producing energy, and to rename it Loyz Energy Limited. At an extraordinary general meeting last week, SSC shareholders approved the two resolutions for company to...
(EnergyAsia, July 26 2011, Tuesday) — Australian upstream company is strengthening its position as a natural gas player with its proposed share-swap acquisition of Eastern Star Gas Limited (ESG) which owns extensive coal seam gas reserves near Gunnedah in north-western New South Wales state. The deal, worth A$924 million, calls for ESG’s owners to swap...
(EnergyAsia, July 26 2011, Tuesday) — Gazprom Marketing and Trading Singapore Pte Limited said it has signed a Memorandum of Understanding with Indian Oil Corporation Limited (IOCL) to supply up to 2.5 million tonnes per year of liquefied natural gas (LNG) for up to 25 years. This is Gazprom Singapore’s fourth LNG supply contract into India (more…)
(EnergyAsia, July 26 2011, Tuesday) — Rotary Engineering Limited said it has secured 13 different contracts with a total value of S$40 million in recent months, including a project to build two fuel oil tanks and a water tank for Alstom Power Singapore Pte Ltd. (US$1=S$1.2). Located at the Tuas Power Station at 60 Tuas South (more…)
(EnergyAsia, July 25 2011, Monday) — Power companies will consume about 40 billion litres or 250 million barrels of oil in FY2012, up from about 13.5 billion litres or 85 million barrels in the last financial year of 2010 ending March 31 2011, said the President of the Petroleum Association of Japan (PAJ). At a...
(EnergyAsia, July 25 2011, Monday) — The Philippines government has begun stockpiling diesel fuel, starting with a purchase of about 50 million litres over the last two months. Philippine National Oil Company – Exploration Corporation (PNOC-EC) has allocated around 2.4 billion peso to acquire its first 50 million litres of diesel stockpile. (US$1=42 peso). In...
(EnergyAsia, July 25 2011, Monday)— With more than 296.5 billion barrels of crude oil in the ground, Venezuela displaced Saudi Arabia as the holder of the world’s proven reserves last year, said the Organisation of Petroleum Exporting Countries (OPEC). In its annual statistical bulletin, the cartel recognised Venezuela’s claim to have boosted its reserves by...
(EnergyAsia, July 25 2011, Monday) — China Natural Gas Inc (CNGI), a provider of compressed natural gas for vehicular fuel and pipeline natural gas for industrial, commercial and residential use in Xi’an city, said it has started operation at its liquefied natural gas (LNG) plant in Jingbian county in Shaanxi province. Qin’an Ji, CNGI’s chairman (more…)
(EnergyAsia, July 25 2011, Monday) — Dyna-Mac Holdings Ltd, a Singapore-based provider of engineering, procurement and construction (EPC) services to the offshore oil and gas industries, has reported a 29% increase in net profit to S$7.6 million on revenue of S$44.8 million for its fourth quarter ended May 31 2011. (US$1=S$1.22). The company has proposed (more…)
(EnergyAsia, July 22 2011, Friday) — As the investment banking community continues to sound the alarm of tight oil markets and rising oil prices, US energy consultant ESAI is offering a contrarian view that the oil markets are “not that tight and the IEA’s strategic stock draw is significant.” OPEC production is up and will...
(EnergyAsia, July 22 2011, Friday) — The International Energy Agency (IEA) expects world oil demand to grow by 1.5 million b/d to climb to a record high of 91 million b/d. Growth will be driven entirely by the developing economies, offsetting the slight decline in OECD demand. This year’s global oil consumption is expected to...
(EnergyAsia, July 22 2011, Friday) — Caltex said it is investing A$80 million to build a 85-million-litre oil terminal in Adelaide city that on completion by 2013 will double the fuel storage capacity of South Australia state. Construction is expected to start later this year, with plans for its expansion to store 135 million litres...
(EnergyAsia, July 22 2011, Friday) — US Peabody Energy said it and the government of China’s Xinjiang Uyghur Autonomous Region have signed an agreement to develop a 50- million-ton-per-year surface mine that would supply coal to China for several decades. Peabody will construct, manage and operate the project into one of the largest surface mines...
(EnergyAsia, July 22 2011, Friday) — The 2011 edition of this map, measuring 120 cm by 90 cm, shows the latest oil, gas, petrochemical, chemical and power and marine installations and plants in Singapore and Johor.First produced in 1999, this unique map contains latest statistical information including oil and power consumption, refining capacities, power generation (more…)
(EnergyAsia, July 22 2011, Friday) — Canada’s ShawCor Ltd said its pipecoating division, Bredero Shaw, has secured a contract worth more than US$60 million from Welspun Corp Limited to provide pipeline coatings and related products and services for an oil and gas project off the coast of Myanmar. Bredero Shaw will provide anticorrosion coating and (more…)
(EnergyAsia, July 21 2011, Thursday) —- German’s Tognum engineering and energy services group said it plans to increase its offering of MTU power solutions to the fast-growing oil and gas industry in Asia. Asian companies are becoming more active in oil and gas exploration and production activities, with shipyards a central piece in producing offshore (more…)
(EnergyAsia, July 21 2011, Thursday) — US engineering giant CB&I said its joint venture with Ireland’s Kentz Corp has been awarded a US$2.3 billion contract by Chevron Australia Pty Ltd to provide mechanical, electrical and instrumentation work on the Gorgon natural gas project on Barrow Island in Western Australia state. Scheduled to be completed in...
(EnergyAsia, July 21 2011, Thursday) — Qatar Petroleum (QP) and Japan’s JX Nippon Oil & Gas Exploration Corp will jointly explore for gas off the northern coast of Qatar. Under a 30-year agreement, JX Nippon will initially invest US$100 million to explore a 6,173-sq km area, and will invest more if the partners discover gas....
(EnergyAsia, July 21 2011, Thursday) — Japan’s demand for oil, liquefied natural gas (LNG) and coal to fuel power plants as well as electricity costs are set to surge if the government moves to shut down all of the country’s 54 nuclear reactors in response to public safety concerns in the wake of the March...
(EnergyAsia, July 21 2011, Thursday) — China’s largest offshore oil producer, CNOOC Limited, has swooped in to acquire bankrupt oilsands company OPTI Canada Inc for US$2.1 billion in cash and debt. Wholly-owned subsidiary CNOOC Luxembourg will pay US$34 million in cash for the Calgary, Alberta company’s shares, US$1.18 billion for some notes and assume US$825 (more…)
(EnergyAsia, July 20 2011, Wednesday) — CME Group, the world’s leading and most diverse derivatives marketplace, said it has named Julien Le Noble as head of its Asia Pacific office in Singapore from August 1. Mr Le Noble, 39, will lead CME Group’s efforts to develop benchmark products and services to meet the needs of (more…)
(EnergyAsia, July 20 2011, Wednesday) — While showing signs of economic recovery, post-quake Japan must consolidate its fiscal position by lowering public debt and implementing reforms, said the International Monetary Fund (IMF). Following the massive earthquake that struck northeastern Japan on March 11, Tokyo has increased spending and pushed the country’s public debt to higher (more…)
(EnergyAsia, July 20 2011, Wednesday) — Loyz Oil Pte Ltd, the oil and gas exploration and production (E&P) arm of Singapore’s Sim Siang Choon Limited (SSC), said it has signed an agreement to cooperate with Rex Oil & Gas Limited in undertaking upstream activities in the Asia Pacific region. The two companies will jointly explore...
(EnergyAsia, July 20 2011, Wednesday) — Dutch oil and chemical logistics firm Royal Vopak said it has fully acquired India’s CRL Terminals Pvt Ltd in the Port of Kandla, giving it a stake in the country’s fast growing oil and chemicals storage market. Comprising two sites with a total capacity of 261,600 cubic meters (cbm),...