Archive | December, 2003

AUSTRALIA: Origin says retail price agreement reached with Victoria state government

Australia’s Victoria state government said it has reached a retail gas and electricity price agreement with privately owned energy retailers from January 1 2004. In a statement, energy retailer Origin Energy said the agreement establishes a price path for standing and deemed electricity and gas retail contracts in Victoria to the end of 2007. This […]

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CHINA: Huaneng Power Intl outlook revised to positive from stable – S&P

HONG KONG (AFX-ASIA) – Standard & Poor’s Ratings Services said it has affirmed its BBB foreign currency rating on Huaneng Power International Inc (SHA 600011; HK 0902; NYSE HNP) while revising the outlook to positive from stable. S&P said in a statement that Huaneng’s rating is currently constrained by the agency’s foreign currency sovereign rating […]

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AUSTRALIA: International TME Resources Inc says its Australian oil and gas royalty interests exceed

Dallas-based International TME Resources Inc. said it has acquired royalty interests in two additional onshore oil and gas permits located in the Cooper-Eromanga Basin in South Australia. The permits contain 506,811 acres and 372,633 acres, respectively. The two oil & gas permits contain numerous structures identified by sub-surface mapping using seismic data. The acquisition brings […]

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CHINA: Royal Dutch/Shell eyeing US$2 billion refinery in southern China – report

SHANGHAI (AFX-ASIA) – Royal Dutch/Shell is looking into the potential synergies from investing in a US$2 billion oil refinery next to the petrochemicals joint venture that it is building in Nanhai in China’s Guangdong province, the Financial Times said. The FT quoted Simon Lam, chief executive officer of the CSPC Nanhai Petrochemicals Project – a […]

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JAPAN: Electric utilities’ ratings unaffected by sale of J-POWER shares – S&P

TOKYO (AFX-ASIA) – Standard & Poor’s Ratings Services said its credit ratings on Japan’s nine major electric power companies (EPCOs) would not be affected by the possible sale of their stakes in electricity wholesaler Electric Power Development Co (J-POWER). ll nine utilities are currently rated ‘AA-‘ with a negative rating outlook. The nine EPCOs, which […]

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SINGAPORE: China Aviation Oil invest in oil tank farm in China

China Aviation Oil (Singapore) Corporation Ltd (CAO) is acquiring 80% of the Shuidong oil storage facilities asset from Shenzhen Juzhengyuan Petrochemical Co Ltd. (JZY). A joint venture between CAO and JZY will be established to operate this oil tank farm in China and carry out other oil-related activities. CAO’s purchase includes an 80% equity interest […]

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JAPAN: Japan Oil to become wholly-owned unit of Japan National Oil in January

TOKYO (AFX-ASIA) – Financially troubled Japan Oil Development Co will become a wholly-owned subsidiary of Japan National Oil Corp next month, the Nihon Keizai Shimbun reported, citing sources close to the matter. It said the move was made possible by a recent court decision rejecting the claims of three shareholders in the failed public-private venture […]

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COMPANY: ExxonMobil chairman spoke on LNG’s role in meeting world energy needs

In his recent address to the Liquefied Natural Gas (LNG) ministerial summit in Washington, D.C., ExxonMobil Chairman and CEO Lee R. Raymond spoke of the challenges to harnessing LNG’s potential in meeting the world’s energy needs. He said state agencies must have “consistent and complete policies that, when encouraging the use of natural gas, must […]

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