(EnergyAsia, August 14 2013, Wednesday) — After less than a year of full ownership, Germany’s Oiltanking GmbH said it has agreed to sell 45% of its stake in Singapore’s Helios Terminal Corporation Pte Ltd to Macquarie Capital for an undisclosed sum. The proposed sale of Helios, which owns and operates a world-class fuel oil storage (more…)
(EnergyAsia, July 30 2013, Tuesday) — Central Asia’s fuel-short economies will have two new oil refineries by next month after Kyrgyzstan starts up an 800,000-ton/year plant to follow on Tajikistan’s recent launch of a 100,000-ton/year plant. The refineries will help the region’s fast-growing economies reduce dependence on imports of gasoline, diesel and fuel oil. In (more…)
(EnergyAsia, July 24 2013, Wednesday) — Environmentalists have hailed the US Export-Import Bank’s decision to reject financing the construction of a proposed coal-fired power plant in Vietnam. The bank’s board voted last week to reject financing for the 1,200MW Thai Binh II coal plant in the Red River Delta in northern Vietnam. “The Thai Binh (more…)
(EnergyAsia, July 23 2013, Tuesday) — The Australia government’s decision to continue with a carbon price on the energy and mining sector puts its liquefied natural gas (LNG) industry at a big disadvantage against suppliers in other countries, said the Australian Petroleum Production Exploration Association (APPEA). The controversial carbon tax was introduced at a fixed...
(EnergyAsia, July 11 2013, Thursday) — Global Pacific & Partners will unveil new exploration, production and development business opportunities in the Asia Pacific region at its upcoming 19th Asia Oil Week event in Singapore on October 3-4. The landmark event for Asia’s upstream oil and gas industry brings together keynote speakers from all over the...
(EnergyAsia, July 10 2013, Wednesday) — Could Singapore’s newly established Pavilion Gas be next to buy into Canada’s natural gas boom through an equity stake in Petronas’s Pacific NorthWest LNG? The subsidiary of Singapore sovereign wealth fund Temasek Holdings was established in May with an initial capital of S$1.25 million to focus on buying, marketing (more…)
(EnergyAsia, July 10 2013, Wednesday) — Australian metallurgical coal miner Cokal Limited said it will raise A$9,609,125.44 from selling shares to Singapore investment company Blumont Group over the next four months. (US$1=A$1.07). The Australia-listed miner said it will sell a total of 60,057,034 fully paid ordinary shares at A$0.16 each in five tranches between July (more…)
(EnergyAsia, July 10 2013, Wednesday) — Iran faces an uphill battle to keep its oil customers as the US and its allies insist the markets are well supplied while further tightening trade and financial sanctions against the Islamic regime for pursuing its nuclear energy programme. In an interview with Reuters last month, US Energy Secretary...
(EnergyAsia, July 9 2013, Tuesday) — Both facing serious domestic economic challenges, Iran and India expect their bilateral trade to continue growing despite the weight of trade and financial sanctions imposed by the West on Tehran and its trading partners. Iran is holding onto its main oil customers in Asia, while India, faced with its...
(EnergyAsia, July 9 2013, Tuesday) — The coal industry will contribute about A$43 billion to the Australian economy this year and provide 180,000 direct and indirect jobs, said the Australian Coal Association (ACA). (US$1=A$1.07). The association recently revealed these and other figures contained in a special study that it had commissioned to counter a growing (more…)
(EnergyAsia, July 9 2013, Tuesday) — Iranian security officials met their Chinese counterparts in Beijing and Shanghai last week as the recent escalation of violence and conflict in the Middle East along with cyber-hacking threaten geopolitical stability across the region and Asia. Iranian Interior Minister Mostafa Mohammad Najjar met Public Security Minister Guo Shengkun as...
(EnergyAsia, July 8 2013, Monday) — The Canadian subsidiary of Malaysia’s state energy firm Petronas said it has applied for a licence for the annual export of 19.68 million tonnes of liquefied natural gas (LNG) from its proposed terminal in western British Columbia province. Pacific NorthWest LNG has applied to the National Energy Board (NEB) (more…)
(EnergyAsia, July 8 2013, Monday) —- The Australian Coal Association (ACA) has welcomed the International Energy Agency’s (IEA) endorsement of carbon capture and storage (CCS) technology as a key solution in reducing greenhouse gas emissions to fight climate change. In a landmark report, released last week, “Technology Roadmap: Carbon Capture and Storage”, the IEA predicts (more…)
(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 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) — 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) — 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 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, 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 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 25 2013, Tuesday) — US major ExxonMobil has launched a new major laboratory in the Chinese city of Shanghai to provide analysis for lubricants and oil used in industrial machinery across the Asia Pacific region. The company said its latest Signum laboratory, the fourth in the world, will offer the most modern oil (more…)