(EnergyAsia, March 23 2011, Wednesday) — Singapore’s offshore rig specialist Keppel FELS Ltd said it has landed a contract to build a US$210-million KFELS Super B Class jackup rig for Japan Drilling Co (JDC), with delivery scheduled for the first quarter of 2013. Keppel FELS said the new contract is the 12th for its mother...
(EnergyAsia, March 23 2011, Wednesday) — Singapore will allow its power companies to import more piped natural gas (PNG) from Indonesia and Malaysia to meet its growing electricity demand. The power companies can now use additional PNG to generate electricity until March 31 2013 when Singapore starts up its first liquefied natural gas (LNG) terminal,...
(EnergyAsia, March 23 2011, Wednesday) — A leading figure in China’s energy sector has called for the country to accelerate its push for energy conservation and efficiency as oil and gas prices head higher amid the latest geopolitical crises in the Middle East and North Africa. Zhang Guobao, former head of China’s National Energy Administration,...
(EnergyAsia, March 23 2011, Wednesday) — Two of the world’s largest oil companies, Saudi Aramco and China National Petroleum Corporation (CNPC), have announced plans to jointly invest in a 200,000 b/d refinery and downstream activities in China’s southern Yunnan province. This was Aramco’s second refinery deal with China this month to follow on its proposed...
(EnergyAsia, March 22 2011, Tuesday) — There is potentially large demand for liquefied natural gas (LNG) as fuel for power generation and shipping in Southeast Asia, according to a special study by a multi-national consortium. The study examined the future LNG use in Southeast Asia as fuel for ship propulsion and as feedstock for small (more…)
(EnergyAsia, March 22 2011, Tuesday) — Australia’s energy and minerals sectors need to re-assess, revise or perhaps totally re-negotiate their force majeure provisions in key contracts based on lessons learnt from managing recent weather impacts, according to a senior lawyer from Minter Ellison, a leading commercial law firm based in Melbourne. The caution comes as (more…)
(EnergyAsia, March 22 2011, Tuesday) — As political unrest in the Middle East and North Africa, and the nuclear crisis in Japan grabbed media attention, world oil supply rose to an all-time high of 89 million b/d in February, up 200,000 b/d from January, said the International Energy Agency (IEA). The increase came from non-OPEC...
(EnergyAsia, March 22 2011, Tuesday) — Singapore-based oil trading company Chemoil Energy Ltd said it has made changes to its senior management ranks. Mats Berglund joins Chemoil as the group’s chief financial officer and chief operating officer with effect from March 3 2011. Mr Berglund had held senior positions at Overseas Shipholding Group Inc, Stena...
(EnergyAsia, March 22 2011, Tuesday) –- Two of Iraq’s refineries, including its largest, were completely shut down for weeks following separate incidents in late February, contributing to the country’s fuel supply and power shortages. The 150,000 b/d Beiji refinery located 250km north of Baghdad was attacked by gunmen who also shot dead at least five...
(EnergyAsia, Feb 6 2011, Sunday) – South Africa’s Sasol Ltd is looking at opportunities in gas-to-fuel industry to take advantage of current low gas prices. The company has decided not to proceed with its plan to build a US$10 billion coal-to-fuels plant in Indonesia, which would have been an addition to its existing projects in...
(EnergyAsia, March 21 2011, Monday) — Energy efficiency investors should focus on Thailand, Singapore, Malaysia and Philippines, and then gradually expand into Indonesia and Vietnam, according to a new report on “Energy Efficiency Investment Potential” in Southeast Asia by Singapore-based business consultants, ReEx Capital Asia. Launched by the British Embassy in Bangkok earlier this month, (more…)
(EnergyAsia, March 21 2011, Monday) — AEG Power Solutions, a Frankfurt, Germany-based global provider of premium power electronics, said it has appointed KML Engineering Ltd as its representative to the Hong Kong Special Administrative Region’s (SAR) railway network and public utility sectors. AEG said the agreement covers all products including uninterrupted power supply (UPS) systems (more…)
(EnergyAsia, March 21 2011, Monday) — Brunei Shell Petroleum Sdn Bhd (BSP) said it has made a deepwater discovery in the Geronggong oil field off Brunei. The Royal Dutch Shell joint venture said the new field is located approximately 100 kilometres offshore where water depth is approximately 1,000 metres, the deepest water depth in which...
(EnergyAsia, March 21 2011, Monday) — China discovered new coal, gas and oil reserves in 2010, easing the depletion of energy resources caused by rising consumption to meet the needs of its rapidly growing economy. The Ministry of Land and Resources (MLR) said the country discovered more than 43 billion metric tons of coal, 1.15...
(EnergyAsia, March 21 2011, Monday) — China National Petroleum Corp (CNPC), the country’s largest oil and gas producer, has suspended production in Libya and evacuated all its employees from the crisis-hit North African country. CNPC has stopped all operations and sealed up its equipment in Libya, where it has been operating since 2002.The company said...
(EnergyAsia, March 21 2011, Monday) — Despite fighting the military might of the West and its allies, Libyan leader Mohamed Gaddafi has insisted the country’s oil fields and ports are still under his control. The long-time dictator of the North African country has defied international opinion and has promised to battle the rebels in the...
(EnergyAsia, March 18 2011, Friday) — By 2015, Asia is likely to be gobbling up around two-thirds of the world’s liquefied natural gas (LNG) supplies, up from 50%-55% at present, according to a Credit Suisse report. While the bulk of the increased demand will come from China and India, there will be new consumption from...
(EnergyAsia, March 18 2011, Friday) — The US Energy Information Administration (EIA) said it expects OPEC surplus capacity to fall from 4.4 million b/d in 2010 to 4.1 million b/d in 2011, followed by a further decline to 3.1 million b/d in 2012. It sees WTI crude averaging US$102 a barrel this year and US$105...
(EnergyAsia, March 18 2011, Friday) — Australia’s GB Energy Limited said it will be acquiring interests in a portfolio of oil and gas interests from Cooper Energy Limited including a Cooper Basin oilfield, exploration licences and farm-out contracts. The transaction is subject to GB Energy completing a capital raising and normal regulatory approvals. The principal (more…)
(EnergyAsia, March 18 2011, Friday) — globalCOAL, a UK-based international online coal trading platform, said it has signed up four new members in Asia. They are China’s Guangdong Power Industry Fuel Co Ltd, Korea Western Power Co Ltd and SK Networks Co Ltd of South Korea, Singapore-based Klandee Resources Pte Ltd. Guangzhou-based Guangdong Power Industry (more…)
(EnergyAsia, March 18 2011, Friday) — The Organisation of Petroleum Exporting Countries’ (OPEC) crude oil production output rose to an average 29.8 million barrels per day (b/d) in February, up 230,000 b/d from an estimated 29.57 million b/d in January, according to an oil industry survey by energy information provider Platts. Attributing the jump to (more…)
(EnergyAsia, March 17 2011, Thursday) — BP said it is investing A$50 million to expand and upgrade its fuel storage facilities at its Port Hedland Fuel Terminal in the Pilbara region in northern Western Australia state. (US$1=A$1). In consolidating its position as the largest fuel storage operator in the state, BP said it has added...
(EnergyAsia, March 17 2011, Thursday) — UK’s BG Group said it has signed an agreement to supply Japan’s Tokyo Gas Co Ltd 1.2 million tonnes of liquefied natural gas (LNG) a year for 20 years from 2015. The LNG will be sourced from the Queensland Curtis LNG (QCLNG) terminal on Curtis Island, near Gladstone in...
(EnergyAsia, March 17 2011, Thursday) — Citing supply cuts and growing war risks, Macquarie Research has sharply raised its Brent oil price forecast by 20% to US$117 a barrel. “Barely more than two months into the year, we have no choice but to revise up our old mid-January forecast. And we fully expect to have...
(EnergyAsia, March 17 2011, Thursday) — US-based engineering company Black & Veatch (B&V) said it will design Reliance Power’s 100-billion-rupee combined-cycle power plant in Samalkot town in the Indian state of Andhra Pradesh. (US$1=45 rupees). With an initial capacity of 2,500 megawatts (MW) and possible future expansion to 3,600 MW, B&V said the plant will (more…)