Asia > Petroleum / Mining

Petroleum / Mining in Asia

  • South Korea, Turkmenistan mull cooperation in oil, gas sector

    SOUTH KOREA, 2015/04/25 South Korea and Turkmenistan have focused on the diversification of economic cooperation through the enhancement of energy and financial cooperation, and trade and investment regulations. Turkmenistan President Gurbanguly Berdimuhamedov held talks with South Korea President Park Geun-hye on April 13 in Seoul to enhance bilateral cooperation in the oil and gas inclunding other economic sectors. South Korea supported a $13 billion scale project, which includes natural gas-to-liquids plant construction and the modernization of essential oil factories in Turkmenistan, South Korean media reported.
  • Iran to increase gas imports from Turkmenistan

    IRAN, 2015/03/30 Iranian President Hassan Rouhani said Wednesday his country would increase its imports of gas from Turkmenistan, during a visit to the reclusive Central Asian national in which he signed a slew of bilateral agreements. Rouhani said energy cooperation with post-Soviet Turkmenistan in oil and gas had "large potential" next talks with his Turkmen counterpart Gurbanguly Berdymukhamedov. "We agreed to increase supplies of Turkmen gas to Iran," Rouhani.
  • EU-to-Extend-Southern-Gas-Corridor-from-Azerbaijan

    EUROPEAN UNION, 2015/03/18 The European Commission is confident in the joint commitment to the successful implementation of the Southern Gas Corridor, which is designed to transport gas from the Caspian region to the EU markets, the Commission’s spokesperson told Trend. “The Commission is confident in the joint commitment to the successful implementation of the Southern Gas Corridor, as well in the context of the recent Southern Gas Corridor Advisory Council conference held in Baku last February,” the spokesperson said. With regard to the laying of the foundation for the TANAP’s (Trans Anatolian gas pipeline) construction in the Turkish province of Kars on March 17, the spokesperson said that the Commission Vice President Maroš Sefcovic’s visit to the groundbreaking ceremony of this pipeline underlines the importance of the Southern Gas Corridor to the EU.
  • China to build grain stocks and cut coal use

    CHINA, 2015/03/07 China plans to continue stockpiling grain, edible oil and other commodities but will reduce its consumption of coal as it plans to tackle air pollution. The country will spend 154.6bn yuan ($24.67bn) this year on its stockpiles, an increase of 33 %, the Ministry of Finance said in a statement to the National People’s Congress under way in Beijing. Last year spending rose 22 %. Low commodity prices give China an opportunity to build up its strategic reserves. The country imports roughly 60 % of the crude oil it uses, and has been building up its strategic and commercial reserves as oil prices have fallen about 50 % since last summer. But coal is the one commodity it wants to use less of. The country will strive for zero increase of coal in key areas of the country, Premier Li Keqiang said in his work statement.
  • Iron ore below $60 as China promises changes

    CHINA, 2015/03/06 The price of iron ore, a key steelmaking ingredient, dropped below $60 a tonne for the initial time since 2009 as China vowed to cut overcapacity in the steel industry and close mills that violate pollution standards. Benchmark Australian iron ore for delivery to China fell $2.80, or 4.5 %, to $59.30 a tonne yesterday, according to The Steel Index, a price reporting agency. Iron ore futures on China’s Dalian exchange fell 3.1 % to a three-month low.  
  • Kazakhstan to ban gasoline,fuel imports from Russia

    KAZAKHSTAN, 2015/03/06 Kazakhstan plans to prohibit gasoline and diesel fuel imports from its biggest trade partner neighboring Russia. Magzum Mirzagaliyev, vice minister of energy explained that from March 5th Kazakhstan will introduce a ban on gasoline and diesel fuel imports from Russia, Tengrinews reported. “From March 5 we are introducing a 45-day-long ban on all imports of gasoline and diesel fuel from Russia. The two nations have agreed that in the current year Kazakhstan will import 1,100,000 tons of gasoline and around 760 000 tons of diesel fuel,” Mirzagaliyev said. He added that in the beginning of the year Kazakhstan has imported a substantial part of this volume.
  • Ankara seeks to bring Turkmen gas to world markets

    TURKMENISTAN, 2015/03/06 Turkish partners show great interest in joint supply of the Turkmen energy resources to the world markets, Turkmen President Gurbanguly Berdimuhamedov said March 4, Turkmen Altyn Asyr TV channel reported. President Berdimuhamedov paid an official visit to Turkey on March 3-4. President Berdimuhamedov confirmed the huge prospects available for the cooperation between the two nations in the above-mentioned area, which are of strategic importance.
  • No considerable increase expected in Kazakhstan’s gas extraction

    KAZAKHSTAN, 2015/01/16 The U.S. Energy Data Government says it doesn’t expect a considerable increase in Kazakhstan’s gas extraction. In its Country Analysis Brief statement on Kazakhstan, published on January 14, EIA said Kazakhstan's major petroleum liquids fields such as Karachaganak and Tengiz contain substantial volumes of natural gas, most of which is re-injected into oil wells to improve oil recovery rates. “At the same time as it comes online, the initial phase of the Kashagan project is expected to marginally boost supplies of dry gas to consumers in Kazakhstan,” the statement said. “However, like the Karachaganak and Tengiz projects, much of the gas produced from Kashagan will be either re-injected into the well to boost liquids recovery or used at the project site to produce electricity.”
  • Consortium sends coal mined in Mozambique to India

    INDIA, 2015/01/01 Indian consortium International Coal Ventures Pvt Ltd (ICVL) to date has shipped to India 70,000 tons of coal mined in Mozambique, which was destined for the Steel Authority of India (SAIL), said a source from the consortium. Quoted by daily newspaper The Hindu, the source as well said two shipments had been made in three months and from January 2015 the company would start to make a shipment per month of coal mined in Benga, in Mozambique’s Tete province.
  • Chinese National Petroleum Corporation (CNPC)

    CHINA, 2014/12/27 Chinese National Petroleum Corporation (CNPC) will launch a new project in 2015 to develop three gas-condensate fields discovered recently in Uzbekistan, a representative of the Uzbekneftegaz National Holding Company told Trend Agency on December 25. Around $277.32 million are planned to be invested in the project to develop Dengizkul, Khojadavlat and East Alat fields until 2020 and $50 million in 2015. One billion cubic meters of gas is expected to be produced in the fields per year next the project completion.