SINGAPORE: The 12TH Singapore International Bunkering Conference (SIBCON) 2002 to focus on customer

The 12th Singapore International Bunkering Conference (SIBCON) 2002, to be held from September 26-28 will be officially opened by Khaw Boon Wan, Senior Minister of State for Transport, and Information, Communications & the Arts, today. Mr Khaw would also be delivering the opening address for the ceremony. This biennial event will bring together some 25…

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CHINA: CNOOC and Canada’s Husky signed two PSCs

China National Offshore Oil Corporation (CNOOC) and Husky Oil China Ltd, a subsidiary of Husky Energy Limited based in Canada, have signed two production-sharing contracts for exploration blocks 23/15 and 23/20 in the South China Sea. The blocks are located in the Beibu Gulf Basin in the South China Sea, about 80 kilometers from Weizhou…

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JAPAN: Kawasaki receives orders to build LNG vessels

Japan’s Kawasaki engineering group said it has received a string of domestic and foreign orders for building of large LNG carriers. Four new orders have been received this fiscal year, bringing the total order backlog to six. The carriers will be built at the Sakaide Works in Kagawa Prefecture, with deliveries scheduled from 2003 to…

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INDONESIA: Kuwait invests US$1.5 billion in oil exploration project

JAKARTA (AFX-ASIA) – Kuwait has invested US$1.5 billion in an Indonesian oil exploration project, the state-run Antara news agency reported, citing Kuwaiti ambassador to Indonesia Jamal MA Al Nesafi. The project is located at the Seram and Natuna islands in Maluku province, where the government has imposed a state of civil emergency due to Muslim-Christian…

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SINGAPORE: Singapore Power profit down 70% to S$412m, also 31% below projection

Singapore Power has reported a 70% net profit drop to S$412 million for the year to March 31. (US$1=S$1.78). The figure was also 31% below projection. It said the record profits of the previous fiscal year were due to a one-time S$638 million gain made from selling off its 25.5% stake in fixed- and mobile…

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SAUDI ARABIA: Royal Dutch/Shell hopes for deal on gas projects in coming months

DUBAI (AFX) – Royal Dutch/Shell said it hopes to break the stalemate in negotiations over multi-billion-dollar gas projects in Saudi Arabia and seal a protracted deal within the “coming months”. “While there have been reports in several papers that the natural gas Initiative is dead, this is not correct,” said Jeroen van der Veer, president…

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MALAYSIA: Higher oil prices to help revenue, hurt growth

KUALA LUMPUR (AFX-ASIA) – High oil prices may boost Malaysia’s evenues as the country is a net oil exporter, but persistent high oil prices could potentially hurt economic recovery and exports, K&N Kenanga said. It noted the country produces some 650,000 barrels of crude oil per day but it is also an importer of oil…

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JAPAN: Nuclear agency allegedly revealed informant’s name to TEPCO

TOKYO (AFX-ASIA) – The predecessor to the Nuclear and Industrial Safety Agency allegedly provided Tokyo Electric Power Co (TEPCO) with documents bearing the name of the person who informed the agency that the utility had falsified inspection data at its nuclear power plants, the Nihon Keizai Shimbun reported. The agency has previously said it did…

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UAE: ENOC supports Dubai strategy forum

Emirates National Oil Company Limited (ENOC) LLC, one of the Middle East leading oil companies, is a partner of this year’s Dubai Strategy Forum to be held in October. “With expanding international activities across East Africa, Central and South Asia, the Levant and the GCC, the ENOC group is targeting the wider region to tap…

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CHINA: Panva Gas secures 6 billion yuan banking facility; to speed up project development

HONG KONG (AFX-ASIA) – Panva Gas Holdings Ltd said its has secured a three-year 6 billion yuan banking facility via fully owned unit Panriver Investments Co Ltd from the Bank of China, to be used to speed up the development of its city gas pipelines and gas retail business. (US$1=8.28 yuan). In a statement, the…

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PHILIPPINES: Napocor signs agreement with cooperatives on discounts for large customers

MANILA (AFX-ASIA) – The National Power Corp said it has signed a memorandum of agreement with the country’s biggest electricity cooperatives for the implementation of the Special Pricing to Enhance Electricity Demand (SPEED) program. Under the program, up to 0.92 pesos per kilowatt hour in discounts will be made available to big industrial and commercial…

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SINGAPORE: SGX, Tokyo Commodity Exchange sign licensing agreement with Platts

Singapore Exchange Limited (SGX) and the Tokyo Commodity Exchange (TOCOM) have signed a licensing agreement with Platts, the world’s largest energy information provider and a division of the McGraw-Hill Companies, Inc, to use Platts’ Middle East benchmarks for the SGX and TOCOM Middle East Crude Oil (MECO) futures contracts. SGX plans to trade its US$-denominated…

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SINGAPORE: KS Tech in JV with Jambi Energi for logistic ops in Indonesia

SINGAPORE (AFX-ASIA) Ð Local engineering firm KS Tech Ltd said it has entered into a joint venture agreement with PT Jambi Energi International Central of Indonesia to develop a one-stop logistic base and supply centre for the oil and gas industry there. The joint venture firm will have an authorised share capital of S$1 million…

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MYANMAR: Government to buy TotalFinaElf gas to help end power shortage

YANGON (AFX) – The military junta said it will purchase gas from TotalFinaElf as a stop-gap measure to end Myanmar’s chronic electricity shortages, while the junta aims to bring new generators on stream. No financial details were given. TotalFinaElf has a production-sharing contract with the military. Yangon began experiencing acute power shortages when two of…

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MARKETS: US, Russian ministers to meet at Houston energy summit in early October

WASHINGTON (AFX) – US and Russian ministers will gather in Houston, Texas in early October as part of a bilateral energy summit aimed at improving the role of public/private partnerships in developing energy resources. The summit follows a May meeting between US President George Bush and Russian President Vladimir Putin at which the two presidents…

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JAPAN: AOC deal to transfer oil rights delayed again in Kuwait

KUWAIT CITY (AFX) – A deal finalising the takeover by Kuwait of Japan’s Arabian Oil Co (AOC) drilling concession in the neutral zone the emirate shares with Saudi Arabia has been further delayed, a senior oil official said. The deal “has not yet been signed, indicating a delay. It’s just internal processes” that are left…

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AZERBAIJAN: Presidents of Azerbaijan, Georgia and Turkey, US energy secretary attend oil pipeline op

The US Secretary of Energy Spencer Abraham joined the Presidents of Azerbaijan, Georgia and Turkey to commemorate the groundbreaking for the Baku-Tiblisi-Ceyan (BTC) Pipeline last week. The project, planned since 1997, will provide for the export of crude oil from Azerbaijan, in the Caspian region, to Ceyhan, on the Turkish Mediterranean coast. “This is an…

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CHINA: PetroChina submits feasibility study on 5 billion yuan Hubei-Sichuan gas link

HONG KONG (AFX-ASIA) – PetroChina Co Ltd has submitted a feasibility study proposal to the State Planning Development Commission to build a 760-km natural gas pipeline linking Hubei province with the Sichuan province, the South China Morning Post reported, quoting company spokesman Cao Zhengyan. “Once we have obtained approval, we expect to be able to…

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CHINA: CNOOC invites public tenders for exploration and development work in new deepwater blocks

China National Offshore Oil Corporation (CNOOC) is inviting public tenders from foreign companies for the oil and gas exploration and development work of 12 virgin deepwater blocks in the South China Sea. “No meaningful exploration work has been done in these deepwater blocks so far,” said a statement issued by subsidiary CNOOC Limited. The area…

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AZERBAIJAN: BP-led Shah Deniz gas consortium rethinking project due to demand shortfall

BAKU, Azerbaijan (AFX) – The BP PLC-led consortium developing the massive Shah Deniz gas field in the Caspian Sea said it is contemplating a wholesale review of the project because of doubts the gas can be sold to Turkey. “We are holding talks with partners about reviewing the concept of Shah Deniz,” David Woodward, head…

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SPEECH: By US Energy Secretary Spencer Abraham at the Groundbreaking Ceremony of the Baku-Tbilisi-Ce

BAKU, AZERBAIJAN Sep 18 2002 Ð It is a great pleasure to be with you today to mark the beginning of the construction phase of the Baku-Tbilisi-Ceyhan oil pipeline. This remarkable commercial and engineering project will deliver oil from the Caspian Sea through Georgia to the Turkish Mediterranean coast in Ceyhan 1,760 kilometres away -…

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SINGAPORE: Suspected terrorists planned to bomb Jurong Island

The Singapore government said it arrested 21 men last month for alleged involvement in planning to attack various strategic installations including water pipelines, the Defence Ministry, the airport, an American vessel in the Changi Naval Base and the oil and petrochemical complex of Jurong Island. Nineteen of the 21, who are all Singaporeans, are said…

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INDIA: Minister says government has not abandoned privatisation programme

NEW DELHI (AFX-ASIA) – A delay in the sale of stakes in Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) will not set back India’s privatisation programme as the government is fully committed to privatisation, Commerce and Industry Minister Murasoli Maran said. The Press Trust of India (PTI) news agency quoted Maran…

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COMPANY: FAME releases next generation of web-based application to track energy market data

US-based FAME Information Services, Inc. has launched energySCOPE 5.0, the company’s latest version of Internet-enabled charting software. This updated software solution is a Java¨-based graphing and reporting tool, which enables users to access energy market data from a central FAME Energy database across Web pages, intranets, and extranets. “EnergySCOPE is FAME’s next generation of decision…

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CHINA: Hutchison’s Husky seeks 25-yr rights to explore west Canada oil field

HONG KONG (AFX-ASIA) – Hutchison Whampoa Ltd unit Husky Energy has applied to Canadian authorities for 25-year exploration rights to an oil field in a lake in western Canada, the Ming Pao Daily reported, quoting securities sources. Husky plans to begin oil production from the oil field in 2005, with a daily output of 30,000…

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