(EnergyAsia, July 8 2013, Monday) — Since July 7, Vietnam’s main coal trader has been hit with a higher tax rate of 13% to export the fuel, up from 10% as the government looks for ways to increase feedstock supply to the country’s power sector. State-owned Vinacomin has been under pressure to reduce exports as (more…)
(EnergyAsia, July 5 2013, Friday) — Thanks to the application of enhanced oil recovery techniques, Oman raised its first-half oil production by 1.3% to 930,000 b/d over the same period last year, said the oil and gas ministry. Oman produced around 889,000 b/d of petroleum liquids in 2011, up sharply from just 714,000 b/d in...
(EnergyAsia, July 5 2013, Friday) — Australia “cannot afford” to develop 91 coal projects that will change the climate, warns Greenpeace, while the industry’s world association has criticised the country’s climate commission for being driven by “ideology”. In a special report, Greenpeace provides details of the 91 new coal projects planned for Australia, with a (more…)
(EnergyAsia, July 5 2013, Friday) — Two leading state-owned engineering firms of Iraq and China have been awarded a contract to jointly build a pipeline to deliver crude oil from the fields in the Missan region to an export terminal in southern Iraq. China Petroleum Pipeline Engineering Corp (CPPE) and Iraq’s State Company for Oil...
(EnergyAsia, July 4 2013, Thursday) — About 100 metric tonnes of bunker fuel spilled into Singapore waters following a collision on Tuesday morning between two vessels about 6.6km southwest off the Tanah Merah ferry terminal. No one was injured in the collision between a South Korean-registered bulk carrier, Oriental Pioneer, and a Bahamas-registered bulk carrier, (more…)
(EnergyAsia, July 4 2013, Thursday) — Iran’s crude oil exports to its biggest customer have risen around 10% to more than 480,000 b/d in the first five months of this year, underlining the extent of failed trade sanctions by the West against the Islamic regime. China’s surge of Iranian crude import was helped by May’s...
(EnergyAsia, July 4 2013, Thursday) — The chairman and CEO of one of the world’s largest coal mining firms has endorsed the vision of China’s new government to improve the country’s air quality by accelerating the use of emissions control technology while continuing to use coal to fuel the economy. China’s State Council recently announced (more…)
(EnergyAsia, July 3 2013, Wednesday) — Thermal coal prices are likely to remain weak as the market remains well supplied in the short term due partly to “lack of discipline” among Indonesian producers, said MayBank. “Inventory levels are high, and the resumption of operations at Daqin Railway as well as the resolution of supply issues...
(EnergyAsia, July 3 2013, Wednesday) — Friends of the Earth International (FOEI) and Amnesty International said Royal Dutch Shell is making exaggerated claims that sabotage is the main cause of Nigeria’s persistent oil spills to avoid taking responsibility and having to pay compensation for the environmental disasters. Citing National Contact Point (NCP) of the Netherlands (more…)
(EnergyAsia, July 3 2013, Wednesday) — Saudi Arabian Oil Co or Aramco said it achieved record levels of oil production, exports and reserves last year. In its annual review for 2012, the state-owned company said it produced 9.506 million b/d of crude last year, compared with 9.067 in 2011 and 7.91 million b/d the previous...
(EnergyAsia, July 2 2013, Tuesday) — The US remains a small supplier of coal to Asia despite reporting a sharp rise in sales to the region over the last five years, said the Energy Information Administration (EIA). From just 2% in 2007, Asia’s share of total US coal exports surged to 25% in 2012, with...
(EnergyAsia, July 2 2013, Tuesday) — The following is an edited version of a speech by Royal Vopak chairman and CEO, Eelco Hoekstra, on the occasion of its Singapore subsidiary’s 30th anniversary celebration last week. “In 1980, what started as an idea to predict future opportunities towards the next decade, materialised into the founding of (more…)
(EnergyAsia, July 2 2013, Tuesday) — Australia’s largest downstream company Caltex said an A$50 million loss at its refining business partly took the shine off its first-half net profit of between A$180 and A$200 million. (US$1=A$1.05). Investors sold the shares of the Australia-listed firm despite its improved profit level compared with A$167 million reported for (more…)
(EnergyAsia, July 1 2013, Monday) — Norwegian classification, inspection and survey firm DNV has started work building on its specialised S$15 million laboratory in Singapore to provide testing services for ships and companies involved in deepwater oil and gas activities. (US$1=S$1.28). When completed by the first quarter of 2014, the new facility will provide a (more…)
(EnergyAsia, July 1 2013, Monday) — China Coal Technology & Engineering Group (CCTEG) has won a contract, worth more than US$100 million, to develop the Baisun and Shargun coal deposits in southern Uzbekistan. CCTEG is tasked to develop the mines, each with an annual capacity of 450,000 tons, by 2016. State-owned Uzbekugol JSC, which awarded...
(EnergyAsia, July 1 2013, Monday) — Ghana’s new exploration and production law will set it apart as a “shining example” for the oil and gas industry in Africa as well as the world, said Minister for Energy and Petroleum Emmanuel Armah-Kofi Buah. Legislations being planned to add to those already passed will strengthen the rule (more…)
(EnergyAsia, June 28 2013, Friday) — Amid the weaker outlook for world economic growth, the International Energy Agency (IEA) has reduced its forecast for this year’s global oil consumption to 90.56 million b/d, down from its previous May forecast of 90.64 million b/d. “Relatively sluggish macroeconomic conditions are expected to keep a lid on growth...
(EnergyAsia, June 28 2013, Friday) — The Organisation of Petroleum Exporting Countries (OPEC) said it is ready to downsize its forecast for global oil consumption growth this year in view of possible weakening in the world economy. In its June oil market report, the cartel kept its forecast for global oil demand virtually unchanged for...
(EnergyAsia, June 28 2013, Friday) — Singapore’s Sembcorp Industries said its joint venture firm, Thermal Powertech Corporation India (TPCIL), has secured a 20-year deal for coal supply to its 1,320MW power plant now under construction in Andhra Pradesh state. Mahanadi Coal Fields, a subsidiary of state-owned Coal India, has agreed to provide an annual supply (more…)
(EnergyAsia, June 27 2013, Thursday) — China National Petroleum Corp (CNPC) said a fully owned subsidiary has agreed to pay US independent Marathon Oil Corp US$1.52 billion for its 10% stake in an offshore oil and gas field in Angola. Subject to government, regulatory and third party approvals, Sonangal Sinopec International Ltd will acquire the (more…)
(EnergyAsia, June 27 2013, Thursday) — China’s largest oil and gas producing company has agreed to acquire a 20% stake in Russia’s US$20-billion Yamal liquefied natural gas (LNG) project for an undisclosed sum. China National Petroleum Corp (CNPC) will join France’s Total as equal minority owners with operator Novatek, Russia’s second-biggest natural gas producer, still (more…)
(EnergyAsia, June 27 2013, Thursday) — US crude oil production could nearly double to a high of 10 million b/d between 2020 and 2040 “under certain conditions”, said the Energy Information Administration (EIA) in its latest 30-year outlook report. These conditions include the actual level of crude oil resources available, the difficulty or ease in...
(EnergyAsia, June 26 2013, Wednesday) — A Shell-led joint venture firm in Nigeria said it will invest a total of US$3.9 billion in building the Trans Niger Pipeline loop-line (TNPL) oil pipeline and the second phase of the Gbaran-Ubie project to boost natural gas production in the West African country. The Shell Petroleum Development Company...
(EnergyAsia, June 26 2013, Wednesday) — HMS Bergbau AG, a Germany-based international coal producing and trading company, said it has sold its port operations in Indonesia as part of a plan announced in 2011 to focus on becoming “a pure-play trading and marketing company.” Without disclosing details, the Berlin-based company said the sale will result (more…)
(EnergyAsia, June 26 2013, Wednesday) — Iraq said it will meet India’s growing oil demand as the two countries pledged to expand economic relations following a meeting between their foreign ministers in Baghdad. Salman Khurshid’s visit, the first by an Indian foreign minister since 1990, was warmly welcomed by his Iraqi counterpart Hoshyar Zebari as...