(WoodMac, 23.Mar.2022) — Wood Mackenzie, a Verisk business (Nasdaq:VRSK), reveals in its latest Accelerated Energy Transition (AET) 1.5-Degree scenario report, that the world needs to double-down on plans to achieve the goal of limiting the rise in global temperatures to within 1.5 degrees Celsius (ËšC) by 2050. Over the last year, […]
Category: Asia
Asia energy
SK E&S Buys EverCharge, a US EV Charging Solutions Provider
(SK E&S, 23.Mar.2022) — SK E&S is entering the US electric vehicle charging market. On 23 March 2022, SK E&S announced the acquisition of EverCharge, an EV charging solution provider in the US. This is the first time a Korean company has acquired the management rights of an EV charging company based in the US. […]
NRGBriefs: Xi Jinping Says World Must Reject Cold War Mentality
(Energy Analytics Institute, 20.Mar.2022) — Energy briefs including China’s Xi Jinping saying there should be a rejection to “the Cold War mentality”; and the American Association of Petroleum Geologists (AAPG), in conjunction with the Colombian Association of Petroleum Geologists and Geophysicists (ACGGP), hosting ICE in Cartagena, Colombia in mid-April 2022. […]
NRGBriefs: Japanese Companies Aim to Reduce Environmental Impact
(Energy Analytics Institute, 11.Mar.2022) — Energy briefs including Mitsui O.S.K. Lines, Ltd., MOL Coastal Shipping, Ltd., Tabuchi Kaiun Co., Ltd., Niihama Kaiun Co., Ltd., Murakami Hide Shipbuilding Co., Ltd., and The Hanshin Diesel Works, Ltd. forming strategic alliance to reduce their environmental impact; and routine gas flaring representing a lost […]
Yuchai Engines Power Largest Chinese Bus Export Order to Mexico
(China Yuchai, 11.Mar.2022) — China Yuchai International Limited (NYSE: CYD), a manufacturer and distributor of engines for on- and off-road applications in China through its main operating subsidiary, Guangxi Yuchai Machinery Company Limited (“GYMCL”), announced that GYMCL’s YC6GN natural gas engines became the exclusive engine to power 800 Ankai buses that were recently […]
JinkoSolar Announces High-Level Dialogue with the UN Global Compact (UNGC)
(JinkoSolar, 1.Mar.2022) — JinkoSolar Holding Co., Ltd. (NYSE: JKS) recently hosted a high-level dialogue with delegates from the UN Global Compact Liaison Office in Beijing, on the role of solar PV technology development in achieving global Sustainable Development Goals (“SDGs”) set up by the United Nations. The dialogue was attended by Ms. Meng Liu, […]
How China Beat Out the US to Dominate South America
(Bloomberg, 17.Feb.2022) — In the hinterland of Argentina, Mario Pizarro’s office looks like a shrine to China. There’s the framed photo of a Chinese peasant with Pizarro’s face superimposed beneath the conical farmer hat. There’s the blue-robed smiling Buddha statue. And there’s the model wind turbine from a Chinese company […]
Maersk Drilling Secures Contract Extensions for Maersk Viking in Malaysia
(Maersk, 1.Feb.2022) — Sarawak Shell Berhad/Sabah Shell Petroleum Corporation (SSB/SSPC) has executed two options on the previously announced contract that will employ the 7th generation drillship Maersk Viking offshore Malaysia. The first option will be novated to TotalEnergies EP Malaysia for the drilling of one deepwater well at the Tepat […]
ONGC Videsh Enters Development Stage Offshore Brazil at BM-SEAL-4
(ONGC, 24.Jan.2022) — ONGC Videsh Limited (OVL) had registered a major gas discovery in 2019 in its deep offshore block BM-SEAL-4, Brazil, located in the Sergipe Alagoas Basin. Petrobras is the Operator of the block with 75% Participating Interest (PI) and in which partner ONGC Videsh holds 25% PI. ONGC […]
Jinko Solar Co., Ltd.’s IPO Pricing Announced by Shanghai Stock Exchange
(JinkoSolar, 13.Jan.2022) — JinkoSolar Holding Co., Ltd. (NYSE: JKS) is in the process of applying for an initial public offering (IPO) of the company’s principal operating subsidiary, Jinko Solar Co., Ltd. (Jiangxi Jinko), on the Shanghai Stock Exchange‘s Sci-Tech innovation board. Jiangxi Jinko’s IPO pricing has been announced by the Shanghai […]
NRGBriefs: Bolivia’s Urea Exports to Argentina, Brazil, and Peru
(Energy Analytics Institute, 6.Jan.2022) — Energy briefs including Bolivia’s urea production gaining mkt shr in Argentina, Brazil and Peru in less than 4 mths; Chile building more than 6,600MW of renewable, solar and wind energy in 2021; EP PetroEcuador lifting force majeure after completing work on bypasses at the Trans-Ecuadorian […]
Sembcorp Marine Completes First Floating Production Unit Newbuild
(Sembcorp Marine Ltd, 6.Jan.2022) — Sembcorp Marine Ltd successfully completed the Vito Regional Production Facility (Vito RPF) for Shell Offshore Inc. With the Vito RPF, the group’s first floating production unit, Sembcorp Marine marks another major milestone in its newbuilding track record. The successful delivery further demonstrates the group’s Tuas […]
Jinko Solar Completes IPO Registration
(JinkoSolar, 28.Dec.2021) — JinkoSolar Holding Co., Ltd. (NYSE: JKS) announced that according to the information published by the China Securities Regulatory Commission (CSRC), its principal operating subsidiary Jinko Solar Co., Ltd. (Jiangxi Jinko) has completed its initial public offering (IPO) registration process with the CSRC and will soon enter the issuance […]
NRGBriefs: Ecopetrol Sends First Carbon-Neutral Cargo to PetroChina
(Energy Analytics Institute, 28.Dec.2021) — Energy briefs including Colombia’s state-controlled Ecopetrol agreeing to ship 1 MMbbls of Castilla blend oil to PetroChina for delivery in Feb. 2022; Venezuela’s opposition lawmakers voting to for the continuity of the National Assembly and its leader Juan GuaidĂł; and more. LATIN AMERICA AND THE […]
NRGBriefs: Ecuador Declares Force Majeure On Oil Exports
(Energy Analytics Institute, 13.Dec.2021) — Energy briefs including Ecuador’s gov’t declaring force majeure on 12 Dec. 2021 on oil exports due to erosion issues around the Piedra Fina River and other tributaries of the Quijos River; Argentina celebrating Petroleum Day; TechnipFMC being awarded three frame agreements by Petrobras; and more. […]
Excelerate Energy Hosts Tree Planting Initiative In Bangladesh
(Excelerate, 8.Dec.2021) — Excelerate Energy, a U.S.-based LNG company, organized a tree planting initiative on November 17, 2021 at Zero Point, Moheshkhali Island in Cox’s Bazar. Excelerate employees, with the help of the local community, business leaders, and officials, planted 10,000 mangroves across two acres of land to help raise […]
JinkoSolar Reports 3Q:21 Financial Results
(JinkoSolar, 30.Nov.2021) — JinkoSolar Holding Co., Ltd. (NYSE: JKS) announced its unaudited financial results for the third quarter ended September 30, 2021. Third Quarter 2021 Business Highlights JinkoSolar’s high-efficiency N-Type monocrystalline silicon solar cell sets new world record with highest conversion efficiency of 25.4%. Over 7GW of new cell capacity put into […]
Mainstream Renewable Raises €90mn To Accelerate New Market Entries
(Mainstream Renewable, 29.Nov.2021) — Mainstream Renewable Power raised €90mn in additional funding to accelerate new market entries and the build-out of gigawatt-scale wind and solar assets across Latin America, Africa and the Asia Pacific region. The capital increase raised €90mn from Mainstream’s current shareholder base, including Aker Horizons, which maintained its 75% stake in the […]
Reliance’s US Shale Exit Signals Refocus Intent
(S&P Global, 11.Nov.2021) — The move by Reliance Industries to divest all its US shale assets and exit the sector signals its intention to ensure the company maintains its sharp focus on India’s domestic market, where its energy portfolio is being increasingly diversified beyond its core refining business. Analysts said […]
NRGBriefs: Ecopetrol Conf. Call
(Energy Analytics Institute, 4.Nov.2021) — Energy briefs including plans by Ecopetrol S.A. to host its 3Q:21 conf. call; Venture Global LNG and China Petroleum & Chemical Corp. (Sinopec) inking two 20yr sales and purchase agreements to supply 4 mt/a of LNG from Venture Global’s Plaquemines LNG export facility; and more LATIN AMERICA […]
Sinopec Signs LT Deal With Venture Global LNG
(Sinopec, 4.Nov.2021) — China Petroleum & Chemical Corporation (HKG: 0386, Sinopec) signed a 20-year liquified natural gas (LNG) contract with U.S. LNG producer and exporter Venture Global LNG to purchase 4mn tons of LNG a year. Venture Global will supply the LNG from its plant in Plaquemines, Louisiana. In addition, China International […]
Venture Global, Sinopec Ink LNG Sales Deals
(Venture Global, 4.Nov.2021) — Venture Global LNG and China Petroleum & Chemical Corp. (Sinopec) announced signing of two 20-year Sales and Purchase Agreements (SPA) for the supply of a total of 4mn tonnes per annum (MTPA) of LNG from Venture Global’s Plaquemines LNG export facility, in Plaquemines Parish Louisiana. In addition, UNIPEC, a Sinopec subsidiary has agreed […]
Major Energy Exporters Race To Lead In Global Hydrogen Trade
(WoodMac, 28.Oct.2021) — The time is ripe for the world’s major energy exporters to accelerate the energy transition, and mastering the hydrogen trade could make a difference, says Wood Mackenzie, a Verisk business (Nasdaq:VRSK).  The global energy market was worth an eye-watering $2tn in 2020, contributing to more than […]
SK E&S Co. Invests In REV Renewables
(LS Power, 18.Oct.2021) — LS Power, a development, investment and operating company focused on the North American power and energy infrastructure sector, announced that SK E&S Co., Ltd., a clean energy solutions company headquartered in Seoul, South Korea, will become an equity investor in REV Renewables, LLC, an LS Power […]
JinkoSolar On Jinko Solar Co., Ltd.’s Proposed IPO In China
(JinkoSolar, 30.Sep.2021) — JinkoSolar Holding Co., Ltd. (NYSE: JKS) provided updates on the status of the proposed initial public offering (“STAR Market IPO”) and listing of the shares of its principal operating subsidiary, Jinko Solar Co., Ltd. (“Jiangxi Jinko“), on the Shanghai Stock Exchange’s Sci-Tech innovation board (the “STAR Market”). […]
JinkoSolar Subsidiary And CATL Ink Strategic Framework Agreement
(JinkoSolar, 2.Sep.2021) — JinkoSolar Holding Co., Ltd. (NYSE: JKS) announced that its principal operating subsidiary, Jinko Solar Co., Ltd. signed a strategic cooperation framework agreement with Contemporary Amperex Technology Co., Ltd. (CATL). The signing ceremony was attended by Mr. Jia Zhou, president of CATL and Mr. Kangping Chen, CEO of […]
Electric Vehicle Sales Surpass 6 Million In 2021
(WoodMac, 31.Aug.2021) — Global electric vehicle (EV) sales are expected to vault over 6 million this year, says Wood Mackenzie, a Verisk business (Nasdaq:VRSK).  EV sales in H1 2021 nearly tripled worldwide compared to the first half of last year. Some of the increase can be attributed to slow […]
CCS Could Impact Emissions Of LNG Projects
(WoodMac, 25.Aug.2021) — The use of carbon capture and storage (CCS) could have a material impact on LNG projects’ carbon emissions. Depending on the strategy adopted, more than 25% of overall carbon emissions could be removed, says Wood Mackenzie, a Verisk business (Nasdaq:VRSK).  LNG is one of the most […]
Crude From Venezuela, Iran Stacks Up Off Singapore
(Bloomberg, 24.Aug.2021) — Oil stored in ships has been stacking up off key Asian ports as a crackdown in China on private crude oil processors has blunted purchases and disrupted flows, including some U.S.-sanctioned barrels from Iran. Vessels off Singapore, Malaysia and China had about 62 million barrels last week […]
Oil Price Windfall A ‘Golden Opportunity’
(WoodMac, 19.Aug.2021) — Oil and gas companies must use the current cash flow windfall opportunity to speed up decarbonisation of their businesses, global natural resources consultancy Wood Mackenzie, a Verisk business (Nasdaq: VRSK) said in a report released today. Stakeholders are demanding greater accountability for carbon emissions along the value […]
CNOOC Reports Significant Earnings Increase
(CNOOC, 19.Aug.2021) — CNOOC Limited (SEHK: 00883,NYSE: CEO, TSX: CNU) announced its 2021 interim results for the six months ended 30 June 2021. In the first half of 2021, faced with the complicated situation, the company further strengthened its business strategy, firmly advanced various production and operation tasks, and scaled […]
Guyana Opts Against LT Supply Deal With India
(Reuters, 10.Aug.2021) — Guyana’s Natural Resources Ministry said on Monday the country earned nearly $80 million from a July crude cargo sold to an Indian refiner, the highest figure since exports began in early 2020, though an official ruled out a long-term supply deal. Guyana sold the cargo of 1,047,820 […]
Arctech Delivers 575MW SkySmart II Trackers In North China
(Arctech, 28.Jul.2021) — Arctech (SSE-STAR: 688408), the world’s leading tracking, racking, and BIPV solutions provider, announced that it had delivered SkySmart II tracking system to a 575MW agriculture-sharing solar project located in Nangong City, Hebei Province, China. This largest 2P multi-point drive tracking system + bifacial modules project withstood multiple […]
China Private Oil Refiner Dodged $2bn Tax
(Bloomberg, 26.Jul.2021) — A report by China’s state-run newspaper has singled out independent oil refiner Hengli Petrochemical Co. for allegedly skirting taxes in a move that could prompt more government scrutiny of the so-called teapot sector. The private company allegedly passed off sales of fuels — namely gasoline and diesel — as […]
China Crackdown Could Knock Oil Import Growth
(Reuters, 23.Jul.2021) — Beijing’s crackdown on the misuse of import quotas combined with the impact of high crude prices could see China’s growth in oil imports sink to the lowest in two decades in 2021, despite an expected rise in refining rates in the second half. Shipments into the world’s […]
Korea National Oil Paying Fines In Peru
(Business Korea, 16.Jul.2021) — Korea National Oil Corp. (KNOC), POSCO International and SK Innovation paid a fine of billions of won to the Peruvian government in withdrawing from Block 8 for a decline in profitability. The fine is for environmental restoration and the South Korean companies may have to pay more. […]
Brazil’s Lower-Sulphur Fuel Booms In Asia
(Reuters, 1.Jul.2021) — Brazil is growing its marine fuel oil exports to Asia’s lucrative premium hubs, where rules mandating lower sulphur content have been squeezing out most of its Latin American peers, according to sources and data. Fuel oil exports are the second largest source of energy revenue for most […]
Colombia’s Ecopetrol Incorporates Singapore Affiliates
(Ecopetrol, 1.Jul.2021) — Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) concluded the incorporation of Ecopetrol Singapore Pte Ltd., a company in which it will directly own 100% of its share capital. In turn, the aforementioned company will own 100% of the share capital of Ecopetrol Trading Asia Pte Ltd., whose main purpose […]
Venezuelan Oil Sector Still Confronts Headwinds
(Energy Analytics Institute, 29.Jun.2021) — Venezuela continues to confront headwinds from legal uncertainties to transparency issues to a new tariff on its bitumen exports to China that make it hard for the country to boost production, former PetrĂłleos de Venezuela (PDVSA) Director JosĂ© Toro Hardy said on 29 June 2021 […]
Indian Oil Corp. Buys Its First Guyanese Oil
(Reuters, 29.Jun.2021) — Indian Oil Corp (IOC.NS), the country’s top refiner, has made its first purchase of Guyana’s Liza light sweet crude as it seeks to diversify its crude purchases, a source familiar with matter said. The 1 million-barrel cargo will set sail around July 4 on Greece-flagged tanker Militos […]
Brazil A Complex Place To Do Business
(TMF Group, 28.Jun.2021) — The comprehensive report by TMF Group, a leading professional services firm, analyses rules, regulations, tax rates, penalties and compliance issues across 77 jurisdictions, accounting for 92% of the world’s total GDP and 95% of net global FDI flows. 292 indicators are tracked annually, offering data on […]
Ecuador Begins Crude Exports In Larger Vessels
(Reuters, 28.Jun.2021) — Ecuador for the first time on Monday exported a cargo of one of its flagship crudes, Oriente, aboard a very large crude carrier (VLCC), following an upgrade to a terminal that the South American country hopes will help it boost exports to Asia. The shipment of 1.08 […]
Vopak Awarded Deal For industrial Terminal In China
(Vopak, 22.Jun.2021) — Vopak has been awarded by Huizhou QuanMei Petrochemical Terminal Co., Ltd., a contract for storage and services of a liquid products terminal in China. The planned terminal would be constructed and operated as part of ExxonMobil’s proposed Huizhou chemical complex project. The contract award is subject to […]
Eni, SKK Migas Ink MOU For Activities In Indonesia
(Eni, 17.Jun.2021) — Eni, through its subsidiary Eni Indonesia, signed a Memorandum of Understanding with SKK Migas for cooperation on exploration activities in Indonesia. The MoU defines the framework for further cooperation in the processing and interpretation of seismic data owned by the Republic of Indonesia by using Eni’s proprietary […]
Platinum Equity To Acquire Urbaser From China Tianying For $4.2bn
(Platinum Equity, 6.Jun.2021) — Platinum Equity entered into a definitive agreement to acquire Urbaser, one of the world’s largest providers of environmental services, from China Tianying Inc. for an enterprise value of approximately $4.2bn (€3.5bn). The sale is expected to be completed during the third quarter of 2021, subject to […]
Venezuelan Oil, Masked As Malaysian, Rushes Into China Ahead Fuel Tax
(Reuters, 3.Jun.2021) — Traders are racing to deliver record volumes of Venezuelan crude oil masked as Malaysian bitumen blend to China, ahead of new fuel taxes that look set to upend the lucrative flow of sanctioned oil to the world’s top crude importer. China has over the past 12 months […]
2021 P4G Seoul Summit To Fight Climate Change
(Ministry of Foreign Affairs, Republic of Korea, 30.May.2021) — As responding to climate change emerges as the biggest issue in the international community, the 2021 P4G Seoul Summit will be held at Dongdaemun Design Plaza (DDP) in Seoul from 30-31 May 2021. The P4G Seoul Summit is the third of […]
JinkoSolar Reports Changes To Senior Management
(JinkoSolar, 18.May.2021) — JinkoSolar Holding Co., Ltd. (NYSE: JKS) announced the change of its chief financial officer, in order to comply with certain business operation independence requirements of the Shanghai Stock Exchange’s Sci-Tech Innovation Board (the “STAR Market”) in relation to the proposed listing of its principal operating subsidiary, Jinko […]
New Chinese Tax Narrows Venezuela’s Oil Export Options
(Argus, 17.May.2021) — A Chinese tax overhaul threatens to orphan up to 400,000 b/d of Venezuelan heavy sour crude that has been a lifeline for Caracas since the US imposed oil sanctions in 2019. Although Chinese companies moved away from directly lifting Venezuelan crude around August 2019, independent refiners regularly […]
PT Pertamina Shipping Subholding Company Revealed
(PT Pertamina, 6.May.2021) — State-Owned Enterprises (SOE) Minister, Erick Thohir, unveils PT Pertamina (Persero)‘s first shipping subholding company, PT Pertamina International Shipping (PT PIS). Minister Thohir made the announcement during an inauguration ceremony on Wednesday, May 5, 2021. The Minister stated that the inauguration was the first big step for PT PIS […]