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Friday, 26 September 14
ORACLE SIGNS EPC FRAMEWORK AGREEMENT WITH SEPCO FOR COAL MINE AND POWER PLANT IN PAKISTAN
 COALspot.com: Oracle Coalfields PLC, the UK developer of a lignite coal mine and power plant in the south-eastern Sindh Province, Pakistan, has announced that the Company has made significant further progress towards delivering the commercial potential of Block VI in the Thar Coalfields.
According to Oracle’s press release, Oracle has signed an Engineering Procurement and Construction (EPC) Framework Agreement in Beijing with SEPCO Electric Power Construction Corporation (SEPCO), leading power and construction group in China.
SEPCO has also proposed a financing structure to potentially securitise up to 85 percent of the cost of the two EPC contracts.
Highlights:
- SEPCO has been selected as preferred contractor to enter into two lump sum turnkey EPC contracts for both the 4.2 million tonnes per annum Coal Mine and the 600MW Power Plant; the combined EPC price or transaction value is circa US dollar 1.3 Billion. This figure is subject to modification during the finalisation of the detailed contracts.
- SEPCO has delivered an outline of the financing proposal for project finance loans under which Sinosure would consider securitising up to 85 percent of the cost of the two EPC contracts.
- SEPCO has agreed to consider taking an equity stake of 10 percent in EPL, which is to be formed in Pakistan by Oracle, after due diligence has been completed.
- A comprehensive EPC Term Sheet for the coal mine and power plant is expected to be agreed between Oracle and SEPCO by year-end 2014 in preparation for the final investment decision, and for groundwork to commence in mining and power plant development in 2015.
- Oracle has appointed Turner & Townsend and Mott MacDonald (leading international project consultants and managers with expertise in China), as technical advisers for the coal mine and power plant respectively and to manage the process of entering into EPC term sheets and contracts with SEPCO. The EPC contracts will be developed to comply with Oracle's technical requirements, Power Purchase Agreement, Coal Sales Agreement and other agreements to be entered with Oracle's Pakistan subsidiaries, and Pakistan authorities.
- Oracle and SEPCO aim to finalise the necessary documents within six months of this agreement and have entered an exclusive agreement for this period with possible extension by mutual agreement.
Entering the EPC Framework Agreement with and receiving a financing proposal from one of China's largest State-Owned Enterprises in the energy sector is another step towards bringing the project to reality, Oracle said in its press release.
“ Both SEPCO and Oracle are eager to succeed in the development of our integrated coal mine and power plant project and to play an effective role in addressing Pakistan's energy crisis,” said Shahrukh Khan, CEO of Oracle.
Liu Chuanming, Chairman of SEPCO, noted: “ We at SEPCO are confident of Oracle's endeavors to develop one of Pakistan's largest energy projects and are delighted to be Oracle's preferred EPC contractor and partner for the coal mine and power plant project.
Oracle has demonstrated its high standards in taking their project to this level that complements SEPCO standards in project execution and financing.
According to Oracle’s website, Oracle developing Pakistan's first large scale open pit coal mine. Oracle Coalfields is an AIM listed (AIM:ORCP) coal developer. The company’s primary interest is the Thar Coalfield Block VI licence area located in the Sindh Province, south-eastern Pakistan, a 1.4 billion tonnes resource with 529 million tonnes JORC mineral resource and 113 million tonnes JORC proven reserves within the mining area of the licence.
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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
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