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Asia: New Zealand Oil and Gas provides funds for stricken Pike River Coal

New Zealand Oil & Gas Friday provided the balance of a NZ$25 million ($19 million) short-term funding facility to Pike River Coal, whose coal mine on the South Island's west coast was shut last week after an explosion killed 29 miners. The funding facility was agreed in September ...

Africa: CoAL agrees to $75 million purchase of Rio Tinto's Chapudi mine

South African miner Coal of Africa (CoAL) announced Monday it has agreed to buy some Rio Tinto coking and thermal coal exploration assets in South Africa including the Chapudi coal project for $75 million. The Chapudi purchase from joint venture companies held by Rio Tinto ...

Americas: Weaver's Cove LNG asks US Senate to reject attempt to strip funding

Weaver's Cove Energy asked a US Senate subcommittee this week to reject legislation intended to kill the proposed liquefied natural gas terminal by cutting off federal funds for the permitting process. CEO Gordon Shearer asked leaders of the Senate Appropriations Committee's ...

Europe: Germany's RAG expects coke unit sale to ArcelorMittal in Q1

Germany's biggest coal miner RAG said Thursday it is expecting to finalize the sale of a 2 million mt/year metallurgical coke production unit to steelmaker ArcelorMittal during the first quarter of 2011. Negotiations for the Prosper facility "are in a good way, we are expecting a ...

Asia: China challenges likely to hinder tight gas development: WoodMac

China will not replicate the rapid growth seen in the US in the development of unconventional gas projects due to the unique challenges the country faces, Wood Mackenzie's Gavin Thompson said at an industry conference in Taiwan Thursday. "The industry cannot compare China's ...

China: Sinopec Jiujiang Petchem to halve LPG output to 300-400mt/d in Dec on FCC maintenance

Sinopec Jiujiang Petrochemical is expected to see its daily LPG commodity output drop from the current 600mt to 300-400mt in December, when it would shut a 1-mil-mt/yr fluid catalytic cracker for month-long maintenance, a refinery source said. When the yearly maintenance will ...

Europe: French retail gas market is more dynamic than power: Epex Spot

French retail natural gas markets PEG North and South offer more competition than the equivalent retail power market, where EDF still holds a dominant position, Epex Spot CEO Jean-Francois Conil-Lacoste said Wednesday at the annual Emart Energy conference in Amsterdam. "In PEG ...

Americas: BP Atlantis suit may set tone for US Macondo litigation

Hundreds of lawsuits were filed in reaction to the Macondo well blowout and subsequent oil spill in the US Gulf of Mexico earlier this year, but legal experts say one of the most important legal actions that will affect those suits was filed almost exactly a year before the ...

China: Shandong independent refineries run at 43.8% Thu, down 0.2 percentage points on week

Operation rates of Shandong independent refineries averaged 43.8% Thursday, slightly down 0.2 percentage points from one week ago, up 12.8 percentage points on a yearly comparison, a survey showed. Shandong Yongxin Chemical lowered its operation rate this week, contributing to ...

Asia: Unipec, Gunvor import gasoil into China to meet shortage

Chinese trader Unipec is planing to move another 220,000 mt of gasoil into China in December to meet the ongoing diesel shortage in the country, a source familiar with the matter said Thursday. The trading arm of Chinese refining giant Sinopec bought a total 220,000 mt of 0.2% ...

China: Gasoil wholesale prices mark rational drops in Bohai Bay region on rising supply, crackdown on overpricing

Wholesale prices of gasoil went down in the Bohai Bay region and were nearly flat with retail ceilings on increasing supply and the government's crackdown on overpricing, a survey found. In Shandong market, wholesale price of minus ten pour point gasoil was Yuan 7,850/mt Thursday...

Americas:US energy co achieves carbon neutrality for 5th year

US based Green Mountain Energy Company, the nation's leading competitive retail provider of cleaner energy and carbon offset solutions, is celebrating its fifth consecutive year of net zero emissions. As a participant in the U.S. Environmental Protection Agency s (EPA s) Climate ...

Middle East:Iran reworking Qatari gas agreement

Iran is interested in renegotiating the agreements with Qatar over the offshore South Pars natural gas field. Iranian Gas Phases of South Pars Director Ali Vakili said that the agreement is up for change, Ameinfo.com news agency reported Wednesday. Vakili said at a news ...

Europe:Russia revamping energy commodity listings

Russia's Federal Financial Markets Service is drafting new regulations for how the country's energy reserves are listed on commodity exchanges. The new policies are designed to regulate Russia's over the counter derivatives market, Interfax reported Wednesday. Federal Financial ...

China:China to promote LNG in public transport

World s second largest energy user China is considering switching to natural gas instead of oil to run public transport vehicles. According to China s energy ministry, private sector LNG firms are already targeting heavy-load trucks, city buses and river fleets across the country...

Europe:Ukraine to return natural gas to Russia

Ukraine's Supreme Court has upheld international arbitration court decisions that the Naftohaz Ukrayiny surrenders reserves to RosUkrEnergo. Interfax-Ukraine news agency reported Wednesday that the Stockholm Court of Arbitration ruled that the state oil and gas company Naftohaz ...

China:Oil remains volatile on uncertain China moves

World oil prices remained highly volatile in Asian trade Friday mainly on uncertainties regarding China s oil demand. Light sweet crude for January delivery was seen trading at $83.94 a barrel at 12.30 p.m Singapore time while Brent crude was at $ 85.74 a barrel in London. In ...

Cognis Jan-Sept net profit soars to 184m on sales volumes, demand

LONDON-Cognis recorded a net profit of 84m ($245m) during the first nine months of 2010, up from just m during the same period last year, due to increased sales volumes as a result of a rise in demand, the German specialty chemicals company said on Thursday. Group sales surged 18...

Asia: Sumitomo Chemical to build 40,000 mt/year rubber plant in Singapore

Japan's Sumitomo Chemical plans to build a 40,000 mt/year solution styrene-butadiene-rubber plant in Singapore that will start commercial operations in the fourth quarter of 2013, the company said in a statement Thursday. The plant, to be built on Jurong Island, will cost Yen 10 ...

Europe: Shell estimates 3.9% benzene demand growth from 2011-2014

Shell Chemicals said Wednesday it estimated potential annual demand growth for benzene of 3.9% between 2011-2014. It said in a statement that the potential growth in benzene demand would be "underpinned by derivatives demand growth, including 3.6% for styrene, 5.1% for cumene...
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