(EnergyAsia, September 28 2010, Tuesday) — The Philippines’ oil industry appears to have won the fight to continue operating its decades-old oil storage terminal in the largely residential area of Pandacan in Manila. Pilipinas Shell Petroleum Corp said it is continuing to operate its oil depot after weathering pressure from the public, the local government...

(EnergyAsia, September 28 2010, Tuesday) — France’s Total said it has acquired a combined 20% stake in Australia’s Gladstone liquefied natural gas (LNG) project from Santos and Malaysia’s Petronas for a total of US$750 million. Australian upstream company Santos said it will sell a 15% interest in the project for A$650 million, while Petronas will...

(EnergyAsia, September 28 2010, Tuesday) — PetroChina Co, the country’s biggest oil company, said it plans to double the capacity of its refinery in the northern province of Hebei and to delay the start-up of another refinery in the south by a month. The capacity of the Huabei refinery will be expanded to 10 million...

(EnergyAsia, September 27 2010, Monday) — Mechel OAO, a leading Russian mining and metals company, said it has signed a Protocol of Intent with China National Coal Group (CNCG) to “establish mutual strategic partnership”. The protocol was signed during last week’s meeting of Sino-Russian energy negotiators jointly led by Igor Sechin, Deputy Prime Minister of...

(EnergyAsia, September 27 2010, Monday) — New Zealand’s LanzaTech said it has signed a memorandum of understanding with China’s Henan province and the Henan Coal and Chemical Industrial Corporation (HNCC) to jointly produce ethanol fuels and chemical products through the integration of the two companies’ respective biological fermentation process and coal gasification technologies. With the...

(EnergyAsia, September 27 2010, Monday) — China’s Kunlun Energy Co Ltd, formerly known as CNPC (Hong Kong) Ltd, last month made an open bid of 2.21 billion yuan for a 75% equity interest in liquefied natural gas (LNG) terminal operator PetroChina Dalian LNG Co Ltd. (US$1=6.75 yuan). Both firms are subsidiaries of integrated energy company...

(EnergyAsia, September 27 2010, Monday) — The Manila, Philippines-based Asian Development Bank (ADB) said it has approved a US$100 million equivalent loan for the Bangladesh-India Electrical Grid Interconnection Project, a cross-border electricity initiative between India and Bangladesh to encourage power trading in South Asia. The loan has a 32-year term includes a grace period of...

(EnergyAsia, September 27 2010, Monday) — Germany’s Oiltanking said its Indian subsidiary, IOT Infrastructure & Energy Services Limited (IOT), and Belgium’s Katoen Natie have set up a 49/51 joint venture to provide storage, handling, packing and transportation services for polymers and solid specialty chemicals in India. The joint venture firm will combine the polymers and...

(EnergyAsia, September 27 2010, Monday) — China National Petroleum Corp (CNPC) said it is planning to complete a major pipeline to deliver crude oil through Myanmar by 2013, a year later from the original target. It did not give any reason for the delay.  The 2,402-km pipeline will supply crude oil imported from the Middle...

(EnergyAsia, September 27 2010, Monday) — China has extended a massive US$15 billion worth of project loans and deal to impoverished Ghana, which will soon become an oil producing country later this year. The loans were the high point of a six-day visit to Beijing by the West African nation’s president, John Atta Mills. His...

(EnergyAsia, September 27 2010, Monday) — China is on course to increase its coal output this year despite plans by the government to reduce the number of small mines to less than 10,000 by year-end. The world’s leading coal producing and consuming country said its coal output rose more than 18% to nearly 2.165 billion...

(EnergyAsia, September 24 2010, Friday) — The governments of Papua New Guinea and Australia’s Queensland state have agreed to jointly support the study for the development of a hydroelectric project that would create jobs and supply renewable energy to the citizens of both countries. The governments last week signed a Memorandum of Cooperation with PNG...

(EnergyAsia, September 24 2010, Friday) — China and Russia have signed a large 25-year loan-for-energy cooperation agreement late last month. China will import at least 15 million tons of coal from Russia every year for the first five years and 20 million tons over the remaining 20 years. For its part, Russia will receive US$6...

(EnergyAsia, September 24 2010, Friday) — MTTI Sdn Bhd, a wholly-owned subsidiary of Malaysia’s MISC Berhad, has completed the 50% acquisition of Vitol Group’s wholly-owned oil storage subsidiary, VTTI BV, for US$839 million. VTTI owns and operates a network of 11 international oil product terminals with a gross combined capacity of nearly six million cubic...

(EnergyAsia, September 24 2010, Thursday) — CNOOC Ltd and China Petrochemical Corp (Sinopec), two of the country’s largest oil and gas companies, are preparing a large joint bid for upstream assets in Brazil. The two companies are considering offering as much as US$7 billion to acquire the assets as well as a stake in Brazilian...

(EnergyAsia, September 24 2010, Friday) — Australia-based Origin Energy Ltd said it has succeeded in its joint bid with India’s Tata Power and PT Suraco Indonesia for the Sorik Marapi geothermal exploration concession in northern Sumatra, Indonesia. Origin Energy, the operator, and Tata Power each hold a 47.5% stake while PT Supraco Indonesia has the...

(EnergyAsia, September 24 2010, Friday) — China’s first deepwater semi-submersible drilling platform, the COSLPioneer, recently completed its sea trial, said the company contracted to build it. Yantai CIMC Raffles Offshore Ltd, which constructed the platform for China Oilfield Services Limited (COSL), said it conducted an integrated testing of the platform’s hull, mechanical, electrical and other...

(EnergyAsia, September 24 2010, Thursday) — Russia and China are deepening their oil and economic ties with the launch of the Eastern Siberia-Pacific Ocean (ESPO) pipeline and a proposed oil refinery deal. The pipeline, which will deliver East Siberian crude oil to China, will help Russia diversify its supply of strategic commodity by increasing supplies...

(EnergyAsia, September 23 2010, Thursday) — British subsea companies are reporting strong growth prospects for the next five years but there are signs that skills shortages could constrain that growth, according to an industry survey. The survey by Subsea UK revealed that over 90% of companies are forecasting growth in the next five years with...

(EnergyAsia, September 23 2010, Thursday) — Swedish independent oil and gas exploration and production company Lundin Petroleum AB said it has agreed to sell its non-operated interests in the Salawati Basin and Island assets in the eastern part of Indonesia to Singapore-listed RH Petrogas. Lundin said the assets were sold for US$37.1 million with additional...

(EnergyAsia, September 23 2010, Thursday) — UK energy major BP said it will divest its interests in Malaysian ethylene and polyethylene production to national oil and gas company Petronas. BP will sell off its 15% stake in Ethylene Malaysia Sdn Bhd (EMSB) and 60% stake in Polyethylene Malaysia Sdn Bhd (PEMSB) for US$363 million in...

(EnergyASIA, September 23 2010, Thursday) — Coalbed methane (CBM) could eventually comprise 15% of Indonesia’s gas supply, making the country the largest source of unconventional gas in Southeast Asia, said consultant Wood Mackenzie. In its report, “Making the case for Indonesian CBM”, Wood Mackenzie said the fledgling CBM offers leading players the opportunity to snare...

(EnergyAsia, September 23 2010, Thursday) — With its vast coal reserves and close proximity to China, Mongolia could emerge as a major competitor to Australia. Mongolia has at least 10-15 billion tons of recoverable coal, according to mining company Leighton Holdings Ltd, which claims to be the only international miner in the country. Compared with...

(EnergyAsia, September 23 2010, Thursday) — Indonesia’s state oil and gas company Pertamina said it has shortlisted five companies to help it build a US$1 billion refinery unit at an existing complex on Java Island. Japan’s Toyo Engineering, China’s Sinopec Corp, Italy’s Saipem SP, South Korea’s Hyundai Engineering and an unnamed local firm have been...