(EnergyAsia, February 27 2014, Thursday) — Horizon Terminals Limited (HTL), the terminals business and wholly-owned subsidiary of Dubai’s Emirates National Oil Company (ENOC), has officially launched its 240,000-cubic metre oil storage terminal in Fujairah port. At a ceremony on Tuesday, Fujairah ruler Sheikh Hamad Bin Mohammed Al Sharqi opened the US$100 million terminal that started...
(EnergyAsia, February 26 2014, Wednesday) — Two of Europe’s largest energy firms, Gazprom and Shell, have agreed to add a third train to their jointly owned liquefied natural gas (LNG) plant on Russia’s Sakhalin Island. Meeting at the Winter Olympics city of Sochi, Russia’s Gazprom chairman Alexei Miller and Anglo Dutch Shell CEO Ben van...
(EnergyAsia, February 26 2014, Wednesday) — Singapore is planning to build a liquefied natural gas (LNG) import terminal on a new site while expanding the current one on Jurong Island as it prepares to become more dependent on the fuel as an energy source, said Prime Minister Lee Hsien Loong. Planners are studying various sites...
(EnergyAsia, February 25 2014, Tuesday) — Indonesia’s state-owned Pertamina said it is investing more than US$150 million to expand the fuels storage capacity on two islands in the Riau region located to the south of Singapore. The company said it will invest US$95 million to nearly triple its storage capacity on Sambu Island from 210...
(EnergyAsia, February 25 2014, Tuesday) — A low-key 11-year-old Singapore firm has emerged as the surprise leader in a crowded field of established global giants racing to export liquefied natural gas (LNG) from Canada’s British Columbia province to Asia. While the likes of Chevron, Shell, BG, ExxonMobil, CNOOC, Sinopec, Inpex and Petronas dominate the headlines,...
(EnergyAsia, February 24 2014, Monday) — Work on expanding the Panama Canal is said to have resumed after a recent construction shutdown for two weeks while the European-led consortium building it and the Panama government try to resolve their differences over an estimated US$1.6 billion cost-overrun. The consortium led by Spain’s Sacyr and Italy’s Salini...
(EnergyAsia, February 21 2014, Friday) — Shell said it has sold its Australian downstream business including the Geelong refinery in Victoria state and 870 retail service stations to European trader Vitol for a total of A$2.9 billion. (US$1=A$1.11). The sale covers Shell’s bulk fuels, bitumen, chemicals and part of its lubricants businesses as well as...
(EnergyAsia, February 21 2014, Friday) — Malaysian state oil firm Petronas said it has awarded the engineering, procurement, construction, installation and commissioning (EPCIC) portion for its second floating liquefied natural gas (FLNG) project to a consortium comprising Japan’s JGC Corporation and South Korea’s Samsung Heavy Industries. Petronas announced the award at the same time that...
(EnergyAsia, February 20 2014, Thursday) — Oil and gas companies are projected to boost their investment in floating production systems (FPS) to US$99 billion between 2014 and 2018, said UK consultant Douglas Westwood. This sum represents a 138% increase over the preceding five-year period, according to the consultant’s latest World Floating Production Market Report. “FPSOs...
(EnergyAsia, February 20 2014, Thursday) — Hong Kong-listed oil trader and storage operator Brightoil Petroleum Holdings Ltd has made its long awaited move into the upstream sector by agreeing to acquire the Chinese assets of US firm Anadarko Petroleum for US$1.075 billion. Brightoil, which has been struggling to reverse the fortunes of its downstream business,...
(EnergyAsia, February 19 2014, Wednesday) — Asia must increasingly consider and manage its scarce water, food and energy resources in a coordinated way to meet the growing needs of its population, said Asian Development Bank (ADB) President Takehiko Nakao. According to the bank, 36 of its 48 Asian member countries, led by China and India,...
(EnergyAsia, February 18 2014, Tuesday) — Qatargas Operating Company Limited, the world’s largest liquefied natural gas producing company, said a subsidiary has signed a new 15-year agreement to supply the fuel to Japan’s Tohoku Electric Power Company Incorporated from 2016. Qatar Liquefied Gas Company Limited 3 (Qatargas 3) will supply annual shipments of 60,000 and...
(EnergyAsia, February 18 2014, Tuesday) — Qatargas said one of its chartered Q-flex vessels transferred a liquefied natural gas (LNG) cargo to another in an unknown part of the Singapore Straits last month after it was damaged in an unspecified incident. While there were no reported injuries or impact on the environment, Qatargas said the...
(EnergyAsia, February 17 2014, Monday) — In Malaysia, ExxonMobil has started up its new Damar gas field following on an earlier announcement by state-owned energy firm Petronas that it is producing oil from a cluster of offshore fields. The US major said subsidiary ExxonMobil Exploration and Production Malaysia Inc and equal joint-venture partner, Petronas Carigali...
(EnergyAsia, February 17 2014, Monday) — Following three recent vessel collisions in Singapore’s busy waterways in under two weeks, the country’s Maritime and Port Authority (MPA) said it is investigating the possibility of “systemic issues” while announcing that it is immediately implementing measures to minimise such incidents It, the Baltic and International Maritime Council (BIMCO),...
(EnergyAsia, February 14 2014, Friday) — Singapore’s Keppel Offshore & Marine (Keppel O&M) said subsidiary Keppel FELS Limited has secured contracts to build three high-specification KFELS B Class jackup rigs worth about US$650 million from new customer Fecon International Corp. Described by Keppel O&M as cost-effective and high-performance with the ability to operate in water...
(EnergyAsia, February 14 2014, Friday) — Seraya Energy, the retail arm of Singapore’s energy provider YTL PowerSeraya, is organising a symposium today to help organisations take an integrated approach to purchasing electricity, oil and gas to increase energy and cost efficiency. Seraya Energy’s Forex and Oil Symposium 2014 will feature four experts to speak on...
(EnergyAsia, February 13 2014, Thursday) — Switzerland’s automation technology and services provider ABB will supply the integrated electrical and marine propulsion systems for Russia’s newest two icebreaker vessels to operate in the harsh Arctic region. The Swiss firm said last September that it had secured the US$25 million contract from Russia’s State Maritime Rescue Coordination...
(EnergyAsia, February 13 2014, Thursday) — In an attempt to hold down rising cost, the international oil majors are expected to reduce capital expenditure (capex) from 2013’s US$270 billion by 20% over the next two to three years, predicts UK consultant Douglas Westwood. This would equate to about 7% of the total industry’s annual upstream...
(EnergyAsia, February 12 2014, Wednesday) — China’s Wison Offshore & Marine said it has secured a second contract to build a barge-based floating regasification unit from Pacific Midstream Holding Corp, an equal joint venture between Belgium’s Exmar NV and Canada’s Pacific Rubiales Energy Corp (PRE). http://energycontents.com/index.php?route=product/product&path=60&product_id=301 The Shanghai-based firm said its affiliates will be responsible...
(EnergyAsia, February 12 2014, Wednesday) — China imported a record 11.85 million tonnes of crude oil from Kazakhstan last year, up nearly 14.1% from 2012. The oil was exported entirely through the 1,200km pipeline linking the two countries, starting from Atasu in Kazakhstan into China’s Xinjiang Uygur Autonomous Region in its far western region. According...
(EnergyAsia, February 11 2014, Tuesday) — Russia’s export of ultra-low sulphur diesel will quadruple by 2020 as reforms of the country’s oil export duties will substantially boost its investment in hydrocracking and other secondary refining units, predicts US consulting firm ESAI Energy. In a new study, “From Russia without Sulfur: Russian Oil Tax Reform Upends...
(EnergyAsia, February 11 2014, Tuesday) — An international consortium comprising UK’s Tullow Oil, France’s Total and China National Offshore Oil Company Ltd (CNOOC) has agreed to support Uganda’s plans to build an oil refinery and a pipeline as part of a bigger plan to develop the East African country’s oil industry. Speaking to the media...
(EnergyAsia, February 10 2014, Monday) — As it continues to debate the revival of its idled nuclear energy plants, Japan is also looking to develop new sources of coal supplies from Africa and Poland as part of its energy diversification measures. Japan has shut down its entire nuclear power capacity which used to supply 29%...
(EnergyAsia, Feb 10 2014, Monday) — With its long experience selling to Asia, Australia’s Woodside Petroleum has been roped in to help Israel develop an export-oriented liquefied natural gas (LNG) project through its purchase of a 25% stake in the country’s largest gas field which holds an estimated 18.9 trillion cubic feet of reserves. Woodside...