(EnergyAsia, November 4, 2013, Tuesday) — Resources giant Rio Tinto will focus its Australian coal operations on the Kestrel and Hail Creek coking coal mines following the proposed sale of its majority stake in the Clermont thermal coal mine, all located in Queensland state. Ten days after a ceremony marking the US$2 billion extension of...
(EnergyAsia, November 5 2013, Tuesday) — India’s private companies are unlikely to take up the government’s invitation to help develop and mine the country’s large coal reserves to meet the huge demand of the domestic market. India’s coal imports reached a record 204.1 million tonnes last year as domestic demand surged beyond 772.8 million tonnes...
(EnergyAsia, November 4 2013, Monday) — Leighton Contractors Pty Limited said it has secured a three-year contract worth A$249 million to provide mining, operating and maintenance services for the Isaac Plains coal project in Australia’s Queensland state. (US$1=A$1.05). http://energycontents.com/index.php?route=product/product&path=60&product_id=301 In a statement to the Australian Securities Exchange Limited, the company said it was awarded the...
(EnergyAsia, November 4 2013, Monday) — Led by Japan, China and India, Asia’s growing demand for “cleaner and flexible” energy sources will boost the outlook for the liquefied natural gas markets in coming years, said the CEO of Qatargas in Singapore last week. In his keynote address at the Singapore International Energy Week (SIEW), Sheikh...
(EnergyAsia, November 4 2013, Monday) — Faced with corruption investigations and mounting criticism of incompetence, state-owned Coal India Limited looks to end the year on a miserable note as more than 500,000 of its unionised and contract workers threaten nationwide industrial action around mid-December. Five unions representing 350,000 unionised and 200,000 contract workers said they...
(EnergyAsia, November 1 2013, Friday) — Mechel OAO, a leading Russian mining and metals company, said its subsidiary, Mecheltrans OOO, has sold a 28% share in Vanino Sea Trade Port OAO’s equity capital for 5.04 billion rubles. The company said it retains a minor share after the sale to an unnamed “ outside investor”. (US$1=31.8...
(EnergyAsia, November 1 2013, Friday) — State energy firm Sinopec is planning to invest 183 billion yuan in a massive project in China’s Xinjiang region to convert coal into natural gas for use in the country’s eastern provinces. (US$1=6.1 yuan). http://energycontents.com/index.php?route=product/product&path=60&product_id=301 Located in the Zhundong area of the region’s Changji Hui autonomous prefecture, the plant...
(EnergyAsia, November 1 2013, Friday) — A consortium comprising companies from Myanmar, India and Singapore is planning to build a 500-megawatt coal-fired power plant in Kyauktan in Myanmar’s Yangon region. Myanmar’s Ministry of Electric Power, Diamond Palace Services Co Ltd, India’s Orange Powergen Pvt Ltd and Singapore’s Global Adviser Pte Ltd signed a memorandum of...
(EnergyAsia, October 31 2013, Thursday) — Sitting atop the world’s third largest natural gas reserves, Qatar has grown rapidly to become the largest global liquefied natural gas (LNG) exporter, but it will be challenged later this decade by Australia, East Africa and North America, predicts UK-based research firm Business Monitor. http://energycontents.com/index.php?route=product/product&path=60&product_id=301 In response, Qatar is...
(EnergyAsia, October 31 2013, Thursday) — Russian energy giants Rosneft and Gazprom again experienced sharply diverging fortunes in their latest round of talks to sell oil and gas to Chinese state-owned companies. There was only joy for Rosneft as well as rising star Novatek, and further uncertainty for Gazprom at the end of last week’s...
(EnergyAsia, October 31 2013, Thursday) — The Organisation of Petroleum Exporting Countries (OPEC) has kept its latest October forecast for global oil consumption virtually unchanged over the next two years. For 2013, it has maintained that the world will consume 89.74 million b/d while raising its expectations for 2014 by just 1,000 b/d to 90.78...
(EnergyAsia, October 30 2013, Wednesday) — A think-tank has advised Canada to temper its excitement over prospects that the nascent liquefied natural gas (LNG) industry in British Columbia (BC) could generate C$1 trillion in revenue, create more than 100,000 new jobs and deliver the province to debt-free nirvana by 2046. http://energycontents.com/index.php?route=product/product&path=60&product_id=301 In describing BC as...
(EnergyAsia, October 30 2013, Wednesday) — The Australian developers of two large separate natural gas projects in Queensland state have agreed to swap product and share infrastructure to speed up implementation as well as save hundreds of millions of dollars in construction, operating and maintenance costs. The operators of the Santos GLNG and Australia Pacific...
(EnergyAsia, October 30 2013, Wednesday) — As evidence of the world’s economic recovery stacks up going into the final quarter, the US government has raised its forecast for global oil demand for 2013 to grow by one million b/d a new all-time high of 90.26 million b/d. The Energy Information Administration’s (EIA) forecast in its...
(EnergyAsia, October 29 2013, Tuesday) — Wartsila, a leading solutions provider to the marine industry, said it has won contracts to supply propulsion systems for two liquefied natural gas (LNG) carrier vessels and four ocean rescue vessels now under construction in separate shipyards in China. http://energycontents.com/index.php?route=product/product&path=60&product_id=301 The Helsinki, Finland company will also supply its proprietary...
(EnergyAsia, October 29 2013, Tuesday) — The International Energy Agency (IEA) has again raised its global oil demand forecast for 2013 and 2014, citing in its October oil market report the improving economic outlook in North America, China and Europe, and continued strong growth in the Middle East, Africa and Latin America. The Paris-based agency...
(EnergyAsia, October 29 2013, Tuesday) — State-owned Coal India Ltd (CIL), one of the world’s largest producers of the fuel, said it has signed supply agreements with companies operating 90% of the country’s 173 coal-fired power plants with a combined 78,000MW capacity. http://energycontents.com/index.php?route=product/product&path=60&product_id=301 While its officials claim they will soon close on the remaining 10%,...
(EnergyAsia, October 28 2013, Monday) — Three companies involved in the energy business have announced senior management changes. Singapore LNG Corp (SLNG), the operator of the country’s first liquefied natural gas (LNG) terminal, has named John Ng, the former CEO of YTLPower Seraya Pte Ltd, to succeed Neil McGregor as CEO from December 1. Singapore...
(EnergyAsia, October 28 2013, Monday) — Japan’s Idemitsu Kosan Co Ltd is advancing plans to develop and export natural gas from Canada with its proposed acquisition of a stake in a privately held midstream company based in Alberta province’s Calgary city. AltaGas Idemitsu Joint Venture Limited Partnership (AIJVLP), Idemitsu’s equal joint venture with Canada’s AltaGas,...
(EnergyAsia, October 28 2013, Monday) — The jury is still out on the wisdom of Chinese state-owned companies’ push into Canada’s oil sector with CNOOC Ltd responding to its critics with a surge in third quarter production and sales revenue while Sinopec is reportedly looking to reduce its presence to focus on profitability. Both companies,...
(EnergyAsia, October 25 2013, Friday) — Singapore’s Nanyang Technological University (NTU) has announced that it is establishing an advanced maritime energy test facility, making it the first in Southeast Asia. The facility will be open to scientists and engineers from industry and academia to research and develop alternative fuels, fuel additives, and engine emissions and...
(EnergyAsia, October 25 2013, Friday) — US WTI crude fell below US$100 a barrel this week for the first time since July 10 as traders focused all attention on the continuing weakness in the world economy, led by the impact of the recent US government shutdown and need for monetary stimulus. http://energycontents.com/index.php?route=product/product&path=60&product_id=301 In New York,...
(EnergyAsia, October 25 2013, Friday) — China’s producers of power equipment and parts are expected to increase their presence and establish plants in India as the two countries look to expand bilateral ties and trade with each other. Amid its worst power supply crisis, India’s economy is slowing down and scaring off investors including many...
(EnergyAsia, October 24 2013, Thursday) — Faced with declining investor interest in its oil patch and weakening prices, Canada’s Alberta province is pushing against the tide to expand ties with China as a source of capital and a market for its exports. http://energycontents.com/index.php?route=product/product&path=60&product_id=301 After last year’s nail-biting finish to CNOOC Ltd’s C$15 billion acquisition of...
(EnergyAsia, October 24 2013, Thursday) — Hong Kong-listed Brightoil Petroleum (Holdings) Limited said China’s highest policy making body has approved its application to build an oil storage and terminal complex with the capacity to handle vessels of more than 10,000 deadweight tonnes (DWT) in Zhejiang Province’s Zhoushan port city. http://energycontents.com/index.php?route=product/product&path=60&product_id=301 Subsidiary Zhoushan Brightoil Terminal Co...