(EnergyAsia, March 10 2011, Thursday) — Swiber Holdings Limited, a Singapore-based provider of construction and support services to the offshore oil and gas industry, has reported a 19.4% increase in revenue to US$469.7 million for the year ended December 31 2010. It said net profit “held steady” at US$39.4 million in FY2010 despite higher expenses...
(EnergyAsia, March 10 2011, Thursday) — Coal would be one of the most expensive sources of electricity if hidden safety, environmental and health costs related to its production and use are included in its final sale price, a US study has found. Costs related to health problems in mining communities and pollution around power plants...
(EnergyAsia, March 10 2011, Thursday) — Singapore-based Tuas Power is seeking to wrap up morelong-term coal supply deals with Indonesian miners. From next year, Jakarta-listed PT Bayan Resources will supply TP’s Tembusu Multi-Utilities Complex with 13.36 million tonnes of low-sulphur, low-ash sub-bituminous coal for 15 years. Tuas Power, owned by China Huaneng, will take delivery...
(EnergyAsia, March 10 2011, Thursday) — Philippines-listed Century Peak Metals Holdings Corp and state-owned China Coal Geology Engineering Corp are planning to form a joint venture to explore coal and other mineral resources in the Philippines. The partners will provide equipment and experienced geologists to the joint venture to enable it to secure exploration and...
(EnergyAsia, March 10 2011, Thursday) — Three anti-pollution groups have filed a federal lawsuit aimed at cleaning up air pollution from the Lower Colorado River Authority’s (LCRA) coal-fired power plant located between Austin and Houston. The lawsuit filed this week by the Environmental Integrity Project, Texas Campaign for the Environment, and Environment Texas claims the (more…)
(EnergyAsia, March 10 2011, Thursday) — Canada’s CBM Asia Development Corp (CBM Asia) said its partner, MedcoEnergi, has reported mobilising a workover rig to a well at the Sekayu coalbed methane exploration project in South Sumatra in Indonesia. Medco plans to install a downhole pump and zone isolation packer to dewater the Palembang B & (more…)
(EnergyAsia, March 9 2011, Wednesday) — Responding to rising regional coal demand, Indonesian miner PT Adaro Energy Tbk said it plans to raise production to between 46 and 48 million tons this year, compared with 42.20 million tons last year. In a disclosure to Indonesia Stock Exchange in February, the country’s biggest coal miner said...
(EnergyAsia, March 9 2011, Wednesday) — Malaysia’s power company, Tenaga Nasional Bhd, is scrambling to look for alternative suppliers of coal, due to an expected global production shortfall caused by the recent flooding in Australia’s Queensland state. As an interim solution, Tenaga has turned to buying spot cargoes from South Africa and has begun talks...
(EnergyAsia, March 9 2011, Wednesday) — Mongolia is proceeding to privatisate state-owned Erdenes-Tavan Tolgoi Co which controls the world’s largest coking coal deposit with the appointment of four international banks to manage its initial public offering. Goldman Sachs Group Inc, Deutsche Bank AG, BNP Paribas SA and Macquarie Group Ltd will manage the planned listing,...
(EnergyAsia, March 9 2011, Wednesday) — The Canadian government is expected to approve PetroChina Co Ltd’s proposed C$5.4 billion acquisition of a 50% stake in Encana Corp’s Cutbank Ridge assets in the western provinces of British Columbia and Alberta, Canada. (US$1.00=C$0.98). The assets include 1.3 million acres of land, approximately 700-million-cubic-feet-per-day processing capacity, 3,400 km...
(EnergyAsia, March 9 2011, Wednesday) — Canadian mining firm Prophecy Resource Corp has announced several senior appointments. Paul F. Venter, a director since last August, is Vice President for Energy Operations with responsibility for Mongolia mining and power operations. With over 30 years experience with BHP and Eskom in the mining, power generating, and transport (more…)
(EnergyAsia, March 9 2011, Wednesday) — US-based Alpha Natural Resources Inc said it plans to establish an international sales and development office each in Sydney, Australia and in New Delhi, India by mid-2011. Brian D. Sullivan, most recently senior vice president and general counsel for the United Company in Bristol, Virginia will lead the Australian...
(EnergyAsia, March 8 2011, Tuesday) — Australia has lost an estimated A$7 billion worth of coal and farm export revenues from the recent massive floods and cyclone that hit the eastern and central parts of the country, said Deputy Prime Minister and financial minister Wayne Swan. (US$1=A$0.99). In turn, the reduced exports could trigger a...
(EnergyAsia, March 8 2011, Tuesday) — India’s state-owned miner Coal India Limited (CIL) is looking to buy a stake in US-based Peabody Energy Corp’s assets in Australia. CIL chairman Partha S. Bhattacharyya said it may offer Peabody US$100 million for a 15% stake in its Australian assets. Mr Bhattacharyya said CIL has allocated 60 billion...
(EnergyAsia, March 8 2011, Tuesday) — China’s coal deficit widened sharply in 2010 as its imports rose 31% while exports fell more than 15%, according to the state planning agency National Development and Reform Commission (NDRC). To meet its surging domestic demand, China’s coal imports rose to a record 164.83 million tons while its exports...
(EnergyAsia, March 8 2011, Tuesday) — Follow us on www.Twitter.com/EnergyContents. Derrick Services Ltd (DSL), a UK-based oil and gas industry construction firm, said it has appointed Ryan Moore as regional manager of its newly established offices in Southeast Asia. DSL supports drilling contractors and operators worldwide by providing a range of services covering derrick inspection, (more…)
(EnergyAsia, March 8 2011, Tuesday) — South African petrochemicals group Sasol Ltd appears to be retreating from its ambitious plans to build large coal-to-fuels (CTF) projects in Asia. The company is postponing work on a 94,000 b/d CTF plant in China, shortly after walking away from plans to build a 80,000 b/d plant in Indonesia....
(EnergyAsia, March 8 2011, Tuesday) — www.Twitter.com/EnergyContents Saudi Basic Industries Corporation (SABIC) said it and ExxonMobil Chemical affiliates have advanced their proposed elastomers project joint venture into the front-end engineering and design (FEED) phase. SABIC and ExxonMobil have selected the Saudi Arabian industrial city of Jubail as the site for the new manufacturing units following (more…)
(EnergyAsia, March 7 2011, Monday) — The following is an edited version of the minister’s speech delivered at the 6th LNGA 2011 conference entitled “Current and Future LNG Markets: Surplus, Deficit or Balance, and When?” The political uncertainty in Egypt, Tunisia and other parts of the Middle East has pushed crude oil prices well past...
(EnergyAsia, March 7 2011, Monday) — The Japan International Cooperation Agency (JICA) is providing loans to Vietnam for the construction of its Nghi Son Coal-fired Power Plant II project under the agency’s energy building programme. JICA has also agreed to provide the Vietnamese government loans for poverty reduction and the construction of a bridge. The (more…)
(EnergyAsia, March 7 2011, Monday) — US business and security leaders are expected to meet their Chinese counterparts sometime this month to discuss and expand cooperation energy issues, according to retired Navy Admiral and former director of national intelligence Dennis Blair. The meetings between the members of the private-sector Energy Security Leadership Council and Chinese...
(EnergyAsia, March7 2011, Monday) — Most of Queensland state’s coal mines in Australia are either operating partially or not at all after being hit by massive floods between last October and February, the worst in over a century. According to the Queensland Resources Council, only 15% of the state’s coal mines were operating at capacity...
(EnergyAsia, March 7 2011, Monday) — SinoCoking Coal and Coke Chemical Industries Inc, a Nasdaq-listed vertically-integrated coal and coke processor, has reported a net loss of US$6,989,723 for the quarter ended December 31 2010, down sharply from a net income of US$4,736,299 for the same period in 2009. The loss, due largely to the rising...
(EnergyAsia, March 7 2011, Monday) — Despite the loss of production from the recent floods in Queensland state, Australia’s metallurgical coal export earnings are forecast to increase by 39% to A$34 billion for the current fiscal year to June 30 2011, said the Department of Agriculture, Fisheries and Forestry. (US$1=A$0.99). Metallurgical coal export volumes are...
(EnergyAsia, March 4 2011, Friday) — Afghanistan’s unstable political situation has not stopped its economy growing at a rapid 8% clip although it must watch out for runaway inflation, said the International Monetary Fund (IMF) which sent a study team to Kabul last month. Led by Enrique Gelbard, the team was in Kabul from February...