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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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- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Australian Coal Association
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Ministry of Mines - Canada
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