MALAYSIA: Shell Refining announces record annual earnings Of RM 670 million in 2004

(EnergyAsia, Feb 28) — Malaysia’s Shell Refining Company Berhad has announced a record net income of RM188 million for the fourth and final quarter of 2004, ending the year with a fourth consecutive quarter of record profitability. (US$1=RM3.8). The company said its cumulative net income for 2004 came to an annual record of RM670 million,...

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INDONESIA: Bleak outlook for Pertamina as oil production decreases

(EnergyAsia, Feb 28) — State oil and gas company PT Pertamina expects a decline in profit and revenue this year due to declining oil production and higher expenses for its public service obligations, according to the Jakarta Post.   In its 2005 business plan that was recently approved by the government, Pertamina projected a net...

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KAZAKHSTAN: PetroKazakhstan Inc reports higher reserves

(EnergyAsia, Feb 28) — Calgary-based PetroKazakhstan Inc said it has significantly expanded its oil and gas reserves in 2004 according to a study by independent reserves auditor, McDaniels and Associates Consultants Ltd. As of January 1, 2005, the study said PetroKazakhstan’s proved and probable reserves totaled 549.8 million barrels oil equivalent (mmboe), compared to last...

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KOREA: APEC holds conference on enhancing aviation and maritime security

(EnergyAsia, Feb 28) — Asia Pacific business leaders, security experts and government representatives met in Incheon, Korea over the weekend to discuss ways to make aviation and maritime transportation safer from the threat of terrorism and piracy.             The Third Annual Secure Trade in the APEC Region (STAR) Conference is seen as one of the...

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PAKISTAN: KAPCO’s IPO expected to be over-subscribed four times

(EnergyAsia, Feb 28) — Pakistan’s largest initial public offering (IPO) of a stock has received strong public response and is expected to be over-subscribed by at least four times. The IPO for up to 20% of the government’s stake in Kot Addu Power Company or 88 million shares closed last Thursday amid enthusiastic response from...

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SINGAPORE: Retail gasoline prices up sharply

(EnergyAsia, Feb 28) — Singapore’s retail gasoline prices jumped sharply last week in response to higher oil prices on the world markets. On average, the country’s four oil retailers raised gasoline prices by six Singapore cents per litre. (US$1=S$1.64). One of the four, Caltex Singapore Pte Ltd, adjusted pump prices of all grades of its...

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TAIWAN: National energy forum to be held in June

(EnergyAsia, Feb 28) — Taiwan will hold a national energy conference in June to discuss ways to reduce greenhouse gas emissions in compliance with the Kyoto Protocol which came into effect on Feb 16. The Bureau of Energy said the event will be attended by more than 200 government officials, lawmakers, labour representatives, academics and...

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THAILAND: Fishermen threaten to idle 10,000 boats after diesel price hike

(EnergyAsia, Feb 28) — Thai fishermen have threatened to dock 10,000 fishing vessels after the government raised the diesel price by 0.60 baht last week. Their spokesman, Viroj Chantranimi, adviser to the National Fisheries of Thailand, wants the government to drop the hike as fuel accounts for as much as 75 to 80% of the...

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THAILAND: Land bridge project looking bleak as Energy Ministry prepares alternative investment in Ma

Prospects for Thailand’s ambitious land bridge project in its southern province is looking increasingly bleak as the Energy Ministry appears to be backtracking from what was once a top priority undertaking. The ministry is working on plans for the expansion of the established oil-petrochemical complex in Rayong province’s Mab Ta Put industrial zone as an...

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UAE: Engineering firm Bechtel awarded US$1.4 billion offshore gas project

(EnergyAsia, Feb 28) — Abu Dhabi Company for Gas Industries (Gasco) has awarded US engineering company a US$1.4 billion contract to design, execute and operate the third phase of developing the offshore Habshan gas project. Gasco beat out competition from France’s Technip, and Chiyoda Corporation and JGC of Japan.   The project is to be...

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AUSTRALIA: Caltex posts sharply higher full year profit, pays out generous dividends

(EnergyAsia, Feb 28) — Caltex Australia Limited has reported a sharply higher after tax operating profitof A$352.5 million for 2004 compared with A$199.7 million for 2003. (US$1=A$1.25). Managing director Dave Reeves said 2004 was a year of record profits primarily due to stronger refiner margins. The company had also benefited from the marketing business’s record transport...

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CHINA: BP, Dongfeng Automobile launch joint company for vehicle oils

(EnergyAsia, Feb 28) — UK major BP and China’s Dongfeng Automobile Co Ltd have jointly invested 120 million yuan to set up Dongfeng Castrol Oil Co Ltd in the Wuhan Economic and Technological Development Zone.   The equal joint venture company, with a registered capital of 80 million yuan, will develop, produce and market engine...

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QATAR: Shell to launch US$100 million GTL training and research center

The Royal Dutch/Shell Group will set up a $100-million training and research facility to focus on gas to liquid technologies in Doha, Qatar’s capital.             The Qatar Shell Research and Training Centre will open at Qatar’s Science and Technology Park (STP) in early 2006, the company said. Abdullah Al Qubaisi, member of the Qatar Foundation’s...

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COMPANY: BASF to expand engineering plastics production capacity

(EnergyAsia, Feb 25) — Germany’s BASF will significantly expand its compounding capacities for engineering plastics in the Asia-Pacific region in the next two years. The company will build a new compounding plant at its existing Pudong site in Shanghai, China. Construction of the new facility will start in the first quarter 2005. The plant will...

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OMAN: Oman Oil Refinery signs upgrading, expansion agreement

(EnergyAsia, Feb 25) — An agreement on engineering supply and construction works covering the Al-Azmarah project and the upgrading of Oman Oil Refinery was recently signed between Oman Oil Refinery Company and Oman Contractors Union Company.   According to official news agency ONA, the US$86.84 million agreement was signed by Nassir bin Khamis al-Gashmi, Oil...

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RUSSIA: Sakhalin Energy to supply Tokyo Gas 1.1 million tonnes/year of LNG for 24 years

(EnergyAsia, Feb 25) — Russia’s Sakhalin Energy said it recently signed a full sales and purchase agreement to supply Tokyo Gas with 1.1 million tonnes a year of liquefied natural gas (LNG) for a period of 24 years. Sakhalin Energy said the agreement completes the gas sales deal with Tokyo Gas, which became the first...

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AUSTRALIA: Clough reports order book turnaround, BassGas provisions impact on profit

(EnergyAsia, Feb 25) — Australian engineering company Clough Limited has reported a net loss of A$42 million for the six months to December 31, 2004, which includes provisions totalling $45.3 million in connection with the troubled BassGas contract. (US$1=A$1.25).   The company said orders won during the period totalled A$827 million, generating work in hand...

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KOREA: SK to expand energy, telecom businesses in the US

(EnergyAsia, Feb 25) — SK Group, the operator of Korea’s largest oil refiner, is poised to expand its energy business to the US, according to the Korea Herald. Reinforcing its commitment to branch out its three core areas of energy, chemicals and mobile telecommunications to the US, group chairman Chey Tae-won said that SK Group...

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BIOFUELS: Brazil and Japan sign biofuel agreement

(EnergyAsia, Feb 25) — Brazil’s Ministry of Agriculture, Livestock, and Supply and the Japan Bank for International Cooperation (JBIC) have agreed to develop a joint programme to increase the production of ethanol and biodiesel in Brazil for export to Japan.   In the second quarter, technicians from both countries will develop a detailed profile of...

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PAKISTAN: PSO reports 23% rise in 1H profit

(EnergyAsia, Feb 25) — Pakistan State Oil (PSO) said its net profits jumped more than 23% to Rs 2.61 billion for the first half of the current financial year ended December 31, 2004. (US$1=Rs60).   The board of directors recommended an interim dividend of Rs 11 per share or 110% of the financial results.  ...

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INDIA: GAIL board approves purchase of up to 10% stake in China Gas

(EnergyAsia, Feb 25) — Indian gas company GAIL will acquire up to 10% of China Gas Holdings Ltd. The transaction advisors to GAIL were HSBC, KPMG and Dua Associates.   Proshanto Banerjee, GAIL’s chairman and managing director, and Liu Ming Hui, China Gas’s managing director, recently signed the share subscription agreement under which GAIL will...

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BANGLADESH: Government to sue Unocal, Niko Energy over separate gas field fires

(EnergyAsia, Feb 25) — Bangladesh has threatened to sue US energy company Unocal for additional compensation over a 1997 fire in the Magurchhara gas field in eastern Moulvibazar district. The government said Unocal has paid only 380 million taka in compensation which State Minister for Energy AKM Mosharraf Hossain claimed caused damages worth 39 billion...

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SRI LANKA: CPC outlets to offer different lubricants

(EnergyAsia, Feb 25) — Sri Lanka’s lubricants manufacturers will market their products through the retail outlets of Ceylon Petroleum Corporation (CPC). Shell, BP, Castrol, Mobil and Valvoline will join Caltex in offering their lubricants at CPC’s 125 stations thoughout the country.   The companies recently signed a Memoranda of Understanding (MoU) following the termination of...

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SINGAPORE: Keppel builds US$95 million accommodation platform for use in offshore oil use

(EnergyAsia, Feb 24) — Singapore’s Keppel Offshore & Marine Limited (Keppel O&M) and Sweden’s JCE Group (JCE) have invested in a US$95 million semi-submersible accommodation platform in anticipation of expected strong demand for such offshore supporting units.   Based on Keppel O&M’s proprietary design, the platform is being built by Keppel FELS Ltd and will...

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BIOFUELS: UK’s D1 to develop biodiesel for Saudi Arabia

(EnergyAsia, Feb 24) — A listed British company, D1 Oils, and a Saudi Arabian company, Jazeera For Modern Technology, have entered into a joint venture to develop biodiesel for use in the world’s biggest crude exporter.   The fuel is to be produced from plantations of jatropha trees on land that used to be desert,...

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