(EnergyAsia, September 5 2013, Thursday) — Australia’s BHP Billiton said it has started up its ninth metallurgical coal mine with the opening of the 4.5-million tonnes/year Daunia operations in central Queensland state. The US$1.4 billion mine, which was delivered several months early and US$250 million under budget, is among seven that BHP equally owns and...
(EnergyAsia, September 5 2013, Thursday) — South Korea’s steel and power producer, Posco, said it and Mongolia’s largest conglomerate, MCS, will jointly own and operate a US$2 billion plant to produce liquid fuels from coal. Their newly established Baganuur Energy Corp will build the “clean energy” plant in the Baganuur district of Mongolia’s Ulan Bator...
(EnergyAsia, September 5 2013, Thursday) — The Chinese government has taken its widening campaign against corruption to the powerful oil industry, implicating senior executives from state-owned companies and their contacts. The Communist Party has relieved Jiang Jiemin, a former chairman of China National Petroleum Corp (CNPC) and President of PetroChina, of his positions as director and...
(EnergyAsia, September 4 2013, Wednesday) — European energy group GDF Suez said it and consortium partners have been awarded a contract to build and operate a 415 coal-fired power plant with a steam capacity of 587MW in the Mongolian capital of Ulan Bator. GDF Suez, Japanese trading house Sojitz Corp, South Korean power producer Posco...
(EnergyAsia, September 4 2013, Wednesday) — In separate analyses, two environmental lobby groups have accused the palm oil sector and its leading members of destroying Indonesia’s sizeable rainforests and causing record air pollution in Southeast Asia The industry was the single largest driver of deforestation in Indonesia between 2009 and 2011, accounting for about a...
(EnergyAsia, September 4 2013, Wednesday) — Ghana’s trade with China, now larger than its dealings with the US, is on course to exceed last year’s record US$5.43 billion in coming years as the African state ramps up oil production and exports. Ghana, which only began producing oil in 2010, has been a major recipient of...
(EnergyAsia, September 3 2013) — in Singapore, Crystal Yeo has rejoined energy education and training firm The Oxford Princeton Programme as regional sales manager for the Asia-Pacific region while energy efficiency and customer engagement company Opower has opened its Asia Pacific headquarters as part of its global expansion. Before rejoining Oxford Princeton, Ms Yeo, who...
(EnergyAsia, September 3 2013, Tuesday) — Canada’s SouthGobi Resources Ltd is looking to revive the fortunes of its Mongolia-focused coal activities after announcing an end to investment dispute with local state agencies with the receipt of three pre-mining agreements. The share price of the Toronto-listed company has been in steep decline over the last two...
(EnergyAsia, September 3 2013, Tuesday) — Manila Electric Co (Meralco) said its power generation subsidiary and Thailand’s Electricity Generating Public Co Ltd (EGCO) have agreed to jointly develop a 460MW coal-fired power plant in Quezon province in the Philippines. In a statement to the Philippine Stock Exchange, the utility said Meralco Powergen Corp will own...
(EnergyAsia, September 2 2013, Monday) — Australian Pacific Coal Limited said it and Rio Tinto Exploration have begun jointly exploring for coal in Mount Hillalong in Australia’s Queensland state. Last week, the partners activated their exploration option and joint venture agreement for work on the Bowen Basin deposits that they had signed on August 8...
(EnergyAsia, September 2 2013, Monday) — Belgian gas ship owner and operator EXMAR said it has agreed to provide a 700,000 tonnes/year floating liquefaction and storage unit for a proposed liquefied natural gas (LNG) project along the Douglas Channel on Canada’s British Columbia province. EXMAR said it signed a letter of intent (LOI) with Houston,...
(EnergyAsia, September 2 2013, Monday) — The world will continue to rely heavily on coal for its energy need despite calls and predictions for its demise, said consultant Frost & Sullivan. In Europe, coal-based power generation is undergoing a revival after appearing to be in terminal decline the last decade. This is happening despite the...
(EnergyAsia, August 30 2013, Friday) — An Asia expert from the International Energy Agency (IEA) will be speaking at the POWER‐GEN Asia conference and exhibition in Bangkok, Thailand on October 2 to 4, said organiser PennWell Corporation. Yerim Park, the IEA’s Southeast Asia Programme Officer, will speak on the issues and challenges of meeting the (more…)
(EnergyAsia, Aug 30 2013, Friday) — Nigeria has appointed Goldman Sachs, UBS and Credit Suisse to manage part of its US$1 billion sovereign wealth fund that was set up to protect and invest the country’s finances. The three banks will manage US$200 million from the Sovereign Investment Authority (NSIA) fund alloted to protecting the fund...
(EnergyAsia, August 30 2013, Friday) — China’s slowing economy is hurting its coal miners as they face up to the prospects of mounting losess and reduced production for 2013. For the first half of the year, the China Coal Transport and Distribution Association (CCTD) said the country’s mines fell 3.7% to 1.79 billion tonnes with...
(EnergyAsia, August 29 2013, Thursday) — India’s Reliance Industries Limited (RIL) and UK major BP said they have jointly found new gas condensate reserves off the east coast of India in the Cauvery basin. The deepwater block CY-DWN-2001/2 (CYD5) reserves, located 62 km from the coast in the Cauvery Basin, is the second gas discovery...
(EnergyAsia, August 29, Thursday) — Z Energy, New Zealand’s main downstream oil company, said it raised NZ$840 million through a public offer of its share at NZ$3.50 apiece. (US$1=NZ$1.26). NZSF Aotea Limited sold 60% of the company at the midpoint of a predetermined NZ$3.25-to-NZ$3.75 range, giving Z Energy a market value of NZ$1.4 billion. With...
(EnergyAsia, August 29 2013, Thursday) — Report from the September 2013 issue of EnergyAsia Report. US WTI and North Sea Brent crude oil prices continued to edge higher on fears that the US and its allies could make good on their threats to launch a military attack on Syria. In New York, US WTI ended...
(EnergyAsia, August 28 2013, Wednesday) — US WTI crude prices reached a new high for 2013 while Brent cruised to a six-month peak on escalating tensions in the Middle East as Western officials talked up the possibility of a military strike on Syria. In New York, US WTI closed at US$109.01 after touching US$109.32 a...
(EnergyAsia, August 28 2013, Tuesday) — Citing demand contraction in Japan and Europe, and weaker growth outlook in China and India, the US Energy Information Administration (EIA) has reduced its global oil demand forecasts for the next two years. In its latest August energy outlook, the EIA said world oil consumption will grow by 1.23%...
(EnergyAsia, August 28 2013, Wednesday) — It’s been a long wait and it’s now Africa’s turn to say it has some of the world’s fastest growing economies. According to the African Development Bank (AfDB), most of the growth will take place in the western corner of the continent that is home to several of its...
(EnergyAsia, August 27 2013, Tuesday) — India’s main gas importer, Petronet LNG Ltd, has started up its long-awaited second import terminal in Kerala state with the receipt of a liquefied natural gas (LNG) cargo from Qatar. Qatar’s RasGas, , which is also supplying LNG to Petronet’s other terminal at Dahej in Gujarat state, delivered the...
(EnergyAsia, August 27 2013, Tuesday) — The Organisation of Petroleum Exporting Countries (OPEC) has raised its forecasts for global oil consumption for 2013 and 2014, building on last month’s observation that the world has regained its oil appetite after four years of slow growth. The 12-member cartel now expects the world to consume a record...
(EnergyAsia, August 27 2013, Tuesday) — Reflecting a more cautious outlook on the world economy, the International Energy Agency (IEA) has tempered its latest forecasts for global oil consumption over the next two years. In its latest August report, the IEA raised its forecast for this year’s oil consumption growth rate to 1% compared with...
(EnergyAsia, August 26, 2013, Monday) — Australian upstream company Santos said it has paid compatriot AWE an initial sum of US$100 million for a 50% stake in Indonesia’s Northwest Natuna production sharing contract (PSC). The payment could rise by another US$88 million if Santos, which has taken over as operator, decides to develop the Ande...