Asia/Pacific
ConocoPhillips looks to reduce stakes in Australian LNG, Canadian oil sands
ConocoPhillips already announced plans to shed billions of dollars in assets to focus on core areas of its portfolio, particularly in unconventional formations in the US. The company plans to "rebalance" its portfolio over time and "lighten up" on these high costs projects in order to keep costs of supply low.
Japan's Tepco to import US liquefied petroleum gas from Enterprise Products
Enterprise processed a company record of 707,000 bbl, or 60,800 tons, a day of NGLs in the fourth quarter. Enterprise is putting the finishing touches on nearly doubling its propane-export capacity to 7.5 million bbl/month, which it says will bring its LPG export sales to more than Saudi Arabia.
IEA eyes Singapore as Asia natural gas trading hub
Governments in the region need to work to allow markets to decide natural gas prices with minimal interference and through price deregulation, while also meeting institutional requirements to attract new market participants, Maria van der Hoeven, IEA executive director, told a Tokyo conference.
Sinopec, SK to build new formaldehyde, butanediol plants in Southwest China
The BDO plant will have a capacity of 200,000 tpy, according to the report. The project will also include plants for acetylene and formaldehyde. Located in the Changshou Economic-Technological Development Area, the project is expected to be completed by the end of 2015.
Chevron invests in Australian shale gas assets
The deal for up to 60% of Beach's interests in two blocks in central Australia's Cooper Basin cements Chevron's status as one of the biggest investors in natural gas down under. It is already leading development of the Gorgon and Wheatstone LNG projects in Western Australia state.
China mandates environmental insurance program for chemical factories
China's Ministry of Environmental Protection said its pilot insurance plan is now mandatory for mining and smelting producers, lead-acid battery manufacturers, leather goods producers and chemical factories. Petrochemical companies are "encouraged to be insured," the ministry said in a statement.
Air Products to build air separation units for China coal gasification facility
At Lu'An's Changzhi City facility, the coal-to-liquids project will produce mainly diesel fuel and derivatives. Air Products' ASU trains will include design enhancements to minimize operating costs through energy efficiency. It is the second-largest ASU onsite order ever awarded to the company for a single project.
ONGC mulls Mangalore LNG terminal in India with Bharat Petroleum, Mitsui
The company didn't say how much the proposed LNG terminal would cost, but said a typical terminal which can handle 5 million tpy of LNG usually takes around $1 billion to build. ONGC believes getting into the LNG terminal business is a right fit since the company is involved in natural gas production.
Australian coal-seam gas ban puts projects at risk
Coal-seam-gas drilling will be banned within 2 kilometers of residential areas in Australia's most populous state, the conservative Liberal government said, adding that bans would also apply to land containing vineyards and horse studs. The moves may constrain the activities of energy companies.
Sinopec wins environmental approvals in China to expand Hainan refinery
Sinopec will expand the capacity of its Hainan refinery to 13 million metric tpy of crude oil, or about 261,000 bpd from the current 8 million tons, or 160,000 bpd, the ministry said in a statement Sunday on its website. The company will also build a new ethylene unit with an annual capacity of 1 million tons.
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