Archive | September, 2004

Origin Energy and JV partners to sue Clough Engineering over BassGas project delays

Australian upstream company Origin Energy said it and the other joint venture participants plan to seek liquidated damages from the EPIC contractor, Clough Engineering Limited, for “significant” delays in the completion of the BassGas project in Victoria state. Liquidated damages are payable by the contractor for each day that Separable Portion 3 of the contract […]

Continue Reading 0

GAIL opens subsidiary company in Singapore

India’s gas company, GAIL (India) Limited, has set up a wholly- owned subsidiary company – GAIL Global (Singapore) Pte Ltd – in Singapore, for making investments overseas. The company is in the midst of acquiring a 15% equity stake in Egypt’s National Gas Company (Natgas) – one of the largest privately-owned companies distributing natural gas […]

Continue Reading 0

Egcomp keen to buy a stake in Laotian power plant

Thailand’s second-largest private electricity producer, Electricity Generating plc (Egcomp), said it will hold talks to acquire a stake in Laos’ Hongsa lignite power plant project next year, according to a Business Day report. Egcomp wants to increase its electricity production capacity. It has chosen to buy a stake in a foreign country’s power plant because […]

Continue Reading 0

GAIL inks pact with Gasunie of the Netherlands

GAIL (India) Limited has signed a Memorandum of Understanding with Gasunie Engineering BV, Netherlands to co-operate in the fields of engineering trading, training, research and development, pilot projects and providing energy solutions to industrial customers. The MoU was recently signed by B S Negi, GAIL’s planning director and Jaap Althuis, Gasunie’s commercial director in New […]

Continue Reading 0

Shell to invest RM50 million to upgrade 50 car maintenance outlets

Shell Malaysia said it will be investing RM50 million to upgrade 50 of its automotive outlets over the next three to four years. (US$1=RM3.8).             Sam Hanna, general manager of Shell autoserv Malaysia, said that on average, the company would spend about RM1million on each new outlet including refurbishment, fittings and stocks.             “It is […]

Continue Reading 0

High oil prices to slow the economy in FY2005

Higher oil prices and unfavourable weather for agriculture will slow India’s economic growth to 6.5% in FY2004 and 6% in FY2005 after 2003’s 8.2% expansion in 2003, according the Asian Development Bank (ADB). The Asian Development Outlook 2004 Update released last week is ADB’s annual flagship economic publication analysing and forecasting economic trends in the […]

Continue Reading 0

EGM on KS Tech’s proposed distribution of its Sinwa Limited shares as dividend pay-out

Singapore-listed KS Tech, an equipment supplier to the oil and gas industry, has called for an extraordinary general meeting (EGM) to seek shareholder approval for distributing its holding of 12,783,365 ordinary shares in Sinwa Limited as a dividend payout. The holdings representing 10.23% of the issued and paid up capital of Sinwa. KS Tech said […]

Continue Reading 0

Developed by Bowtie