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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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Saturday, 27 September 14
OIL MARKET CONTANGO: SPECULATION ON FUTURE PRICES CAN BE A RISKY MOVE, EVEN FOR TANKER OWNERS HELLENIC SHIPPING NEWS
Despite the fact that tanker owners can easily use their vessels as floating storage units for oil, in a bid to exploit the current oil market dyna ...
Saturday, 27 September 14
MORE COAL MINERS AGREE TO AMEND CONTRACTS - THE JAKARTA POST
The Energy and Mineral Resources Ministry is in a rush to beat a deadline for the conclusion of numerous memorandums of understanding (MoUs) with t ...
Friday, 26 September 14
INDIA SUPREME COURT RULING TO HIT STEEL, UTILITY EARNINGS, SAYS FITCH
COALspot.com: The 24 September Supreme Court of India (SCI) decision to cancel almost every coal block allocation since 1993 will have a negative f ...
Friday, 26 September 14
U.S WEEKLY COAL PRODUCTION FELL 1.8% WEEK OVER WEEK, SAYS EIA
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.80 million short tons (mmst) of c ...
Friday, 26 September 14
NEWCASTLMAXES ARE THE MOST SOUGHT AFTER VESSELS BY SHIP OWNERS TODAY SAYS VESSELS VALUE
KNOWLEDGE TO ELEVATE
Determining a ship’s fair value can be a very tricky business, especially when you’re the one paying. As such ...
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- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Indian Energy Exchange, India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Australian Coal Association
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- White Energy Company Limited
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Central Java Power - Indonesia
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