Archive | August, 2002

AUSTRALIA: Santos leads consortium in A$185 m exploration programme off Victoria and Tasmania

A consortium led by Australia’s largest net gas producer, Santos Limited is to undertake one of the biggest oil exploration programmes in southern Australia. The total programme, costing up to A$185 million over the next six years, will focus on four new blocks, extending from south of Portland in Victoria to the northwest corner of […]

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CHINA: CLP’s increasing overseas power asset investments could affect ratings – S&P

HONG KONG (AFX-ASIA) – Standard & Poor’s said CLP Holdings Ltd’s increasing investment in higher risk overseas power generating assets could ultimately affect its ratings. However, it said the recent investment in the 600 MW Anshun II Power project in Guizhou, China will not have an immediate impact on either CLP’s rating or outlook due […]

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PHILIPPINES: PNOC-EDC shortlists 7 local/foreign banks for IPO financial advisor

MANILA (AFX-ASIA) – PNOC-Energy Development Corp chairman and president Sergio Apostol said the company has shortlisted at least seven local and foreign banks, one of which will be chosen as financial advisor for the company’s planned IPO. PNOC-EDC, a wholly-owned subsidiary of state-owned Philippine National Oil Co, owns 10 geothermal steam fields across the country […]

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SINGAPORE: Manufacturing output grew 17.8% in July, petrochemicals up by 33%

Singapore’s manufacturing output grew 17.8% in July from year-ago level as the country continued to climb out of its worst recession. The Economic Development Board said that for the first seven months, the country’s cumulative output grew by 6.4% over the same period last year. The chemicals cluster — comprising oil, petrochemicals and chemicals — […]

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PEOPLE: Personnel changes in the energy industry

Societe Generale has transferred oil trader Franck-Eric Fischer from its Singapore office to New York. He has been replaced by Guilem Fesquet from Paris. Jonathan O’Connor has left the energy trading team in Singapore. The International Association of Independent Tanker Owners (Intertanko) has announced personnel changes affecting its Asian representative office and Latin American panel. […]

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INDONESIA: Investors in failed power project criticise court decision supporting Pertamina

Investors in Karaha Bodas Company (KBC) criticised a ruling released this week by an Indonesian court, declaring it illegitimate. Caithness Energy said the decision by the Central District Court of Jakarta, which annulled an international arbitral award granted to KBC as a result of a failed joint venture with Pertamina, Indonesia’s state oil and gas […]

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