COMPANY: SunGard Data Systems confirms sale to private group for US$36 per share or approximately $1

(EnergyAsia, March 31) — New York-based SunGard, a global leader in integrated software and processing solutions primarily for financial services and the pioneer and leading provider of information availability services, said it has agreed to be bought out by a consortium of seven leading private equity investment firms for a sum of US$11.3 billion. The...

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SAUDI ARABIA: Shaw to provide petrochemical technology for Aramco’s Rabigh project

(EnergyAsia, March 31) — The Shaw Group Inc said its Shaw Stone & Webster, Inc unit has been selected by Aramco Overseas Company and Sumitomo Chemical Co Ltd to provide a special petrochemical technology for Saudi Aramco’s Rabigh petrochemical complex in Saudi Arabia. The Deep Catalytic Cracking (DCC) technology for a grassroots High Olefin Fluid...

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CONFERENCE: ATA Tanker Conference (ATA 2005), April 26-27, Grand Hyatt Hotel, Singapore

(EnergyAsia, March 31) — The inaugural ATA Tanker 2005 conference will meet at the Grand Hyatt Hotel in Singapore on April 26 and 27. The event will discuss the impact of new tanker safety regulations, ship vetting issues, maritime security and safety, maritime arbitration and Asia’s energy growth and its impact on the tanker business.  ...

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ABU DHABI: Shaw unit to provide project management services

(EnergyAsia, March 31) — Shaw Stone & Webster unit has been selected by Abu Dhabi Gas Industries Limited (GASCO) to provide project management consultancy services for the front end engineering stage of GASCO’s Offshore Associated Gas Project (OAG). Shaw Stone & Webster is a unit of New York-listed The Shaw Group Inc.   The amount...

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CHINA: Moodys, S+P rate CNOOC Finance Corporation Ltd

(EnergyAsia, March 31) — CNOOC Finance Corporation Ltd said it has obtained A2 (stable outlook) and BBB+ (positive outlook) issuer ratings from Moody’s Investors Service and Standard & Poors respectively. The company said it is the highest credit rating received by Chinese companies, the first by a finance company in China. The ratings are said...

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RUSSIA: Sakhalin Energy relocates offshore pipelines to protect whales

(EnergyAsia, March 31) — Russia’s Sakhalin Energy said it will reroute offshore pipelines in its oil and gas development in the Russian Far East to help protect the endangered western gray whale. The pipelines – linking two production platforms in the Piltun-Astokhskoye field off Sakhalin Island to the shore – will be moved 20 kilometres...

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JAPAN: Sumitomo Chemical to buy World Bank’s BioCarbon Fund

(EnergyAsia, March 31) — Japan’s Sumitomo Chemical Co said it will invest $2.5 million in the World Bank’s BioCarbon Fund by 2017 to obtain some 400,000 carbon credits, which count against greenhouse gas emissions, according to a Japan Times report. The World Bank launched the BioCarbon Fund in May 2004 to deliver cost-effective emission reductions...

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INDIA: GAIL signs MOU with Cosmos of Bangladesh

(EnergyAsia, March 31) — India’s main gas company GAIL Limited and Bangladesh’s Cosmos have signed a Memorandum of Understanding to co-operate in the developing NGL fractionation, gas processing and LPG projects in Bangladesh.   GAIL said it will undertake the projects on a “Build Own Operate and Transfer” basis or any other basis as offered...

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INDIA: GAIL to supply CNG to Kanpur city

(EnergyAsia, March 31) — Indian gas major GAIL is ready to introduce compressed natural gas (CNG) to Kanpur city in Uttar Pradesh state.   “This is a major milestone in our journey towards introducing the green fuel CNG in cities in India to reduce environmental pollution,” said Proshanto Banerjee, GAIL’s chairman and managing director. Mr...

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NEW ZEALAND: Government to call for tenders to build oil storage tanks

(EnergyAsia, March 31) — New Zealand will soon call for an open tender to build tanks for storing oil aimed at boosting the country’s strategic stockpile reserves, said Energy Minister Trevor Mallard. The decision reverses an earlier proposal to make oil companies pay for the project to enable New Zealand to comply with International Energy...

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CHINA: CNOOC signs new PSC with Primeline

(EnergyAsia, March 30) — Chinese upstream company CNOOC Limited said its parent company, China National Offshore Oil Corporation (CNOOC) has signed a production sharing contract (PSC) with Primeline Energy China limited (PECL) and Primeline Petroleum Corporation (PPC) for Block 25/34 in the East China Sea.             Block 25/34 covers a total area of 7006 sq...

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AUSTRALIA: Delay to commissioning of BassGas project facilities

(EnergyAsia, March 30) — Australia’s Origin Energy said work on the Bass Stratis gas project will be “significantly” delayed as a result of government orders to improve workplace safety measures. State agency WorkSafe Victoria has found shortcomings in the project’s health, safety and environmental management system just before it was due to be fully commissioned....

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AUSTRALIA: Pipeline association to relaunch its campaign against regulation

(EnergyAsia, March 30) — The Australian Pipeline Industry Association (APIA) said it will relaunch its campaign against “over-regulation” of the gas transmission industry, highlighting the Australian Competition and Consumer Commission’s (ACCC) “hindrance of infrastructure investment.”             In a statement, APIA chief Cheryl Cartwright said: “Investment in infrastructure is vital for Australia’s future, but it is...

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SINGAPORE: February’s manufacturing output down 10.2%

(EnergyAsia, March 30) — Singapore’s manufacturing output fell 10.2% in February 2005 compared to February last year, said the Economic Development Board. Bucking the trend, the chemicals and transport engineering clusters reported growth. EDB said the transport engineering cluster grew by 27% year-on-year with expansions in both the marine and aerospace segments. The output of...

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MARKETS: US government sub-committee on energy and minerals examines world’s energy demand

(EnergyAsia, March 30) — A key subcommittee in the US House is examining world energy demand, calling for a special hearing to study global energy and mineral consumption increases from emerging economies such as China and India.   Jim Gibbons (R-NV), chairman of the House Resources Subcommittee on Energy and Minerals said: “Just as the...

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INDIA: Cairn Energy reports ‘successful’ appraisal of Rajasthan block RJ-ON-90/1

(EnergyAsia, March 30) — UK’s Cairn Energy said the N-V oil field about 18km to the west of Mangala off the Indian state of Rajasthan has been appraised and could hold between 250 and 350 million barrels of oil. The N-V extension area of 856km? was awarded to Cairn by the Indian government in January...

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INDIA: Invitation to China to cooperate in energy ventures

(EnergyAsia, March 30) — India wants to work with China in acquiring international energy projects to strengthen their bargaining position. “Market forces dictate that India and China will compete in acquiring hydrocarbon properties across the world. Both India and China should work together in this field as they are the world’s largest developing countries and...

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MALAYSIA: Halliburton signs collaboration agreement with Petronas for training support

(EnergyAsia, March 30) — Halliburton has announced that it has collaborated with Malaysian state energy firm Petronas in setting up a technical excellence center for specialised upstream oil and gas training at the Universiti Teknologi Petronas (UTP) in Malaysia. The centre, which provides specialised training support in geology and geophysics to new graduates and oil...

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MALAYSIA: MayBan Securities continues to recommend a ‘hold’ on Tenaga and Malakoff stocks

(EnergyAsia, March 30) — MayBan Securities has maintained its ‘hold’ recommendations on two power generation stocks, Tenaga Nasional Berhad and Malakoff.             In research note, MayBan said TNB and Malakoff announced that they together with Arabian Company for Water And Power Projects Limited (ACWA) have formed a consortium to bid for a 60% equity interest...

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CHINA: Sinopec Corp announces record profits for 2004

(EnergyAsia, March 30) — China Petroleum & Chemical Corporation (Sinopec Corp) said its 2004 net profit jumped by nearly 70% to RMB32.28 billion over the previous year. (US$1=RMB8.27). Revenue was RMB 619.78 billion, up 38.04% from 2003. It said: “2004 witnessed impressive progress in Sinopec Corp’s reforms and development. The company adjusted its operating strategy...

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BANGLADESH: Unocal starts production From Moulavi Bazar gas field

(EnergyAsia, March 29) — Unocal Corporation said that two of its subsidiaries have started production from the Moulavi Bazar gas field in Bangladesh. The field, located in block 14 in the northeast district of Sylhet, currently produces more than 70 million cubic feet of gas per day (mmcfd) from two wells. The company said it...

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Philippines: House Committee on Energy approves bioethanol as transport fuel

(EnergyAsia, March 29) — Bioethanol is now recognised as an alternative transport fuel in the Philippines after a bill mandating its use was passed by the House Committee on Energy last week. The country is capable of producing bioethanol from biomass, widely available from rotting materials including wood, decomposing crops, plant fiber, poultry litter, animal...

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CHINA: PetroChina said 2004 net profit jumped 47.9% to RMB103 billion

(EnergyAsia, March 29) — Hong Kong-listed PetroChina Company Limited said its net profit jumped 47.9% to RMB102.927 billion, making 2004 its best performing year since its initial public offering a few years ago. Its turnover rose 27.9% to RMB388.633 billion over 2003. (US$1=RMB8.27).   The company reported its basic and diluted earnings per share as...

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CHINA: Shanghai Secco ethylene plant in industrial plant comes onstream

(EnergyAsia, March 29) — State Sinopec said its partly owned Shanghai Secco 900,000 tons/year ethylene plant successfully started up on March 19. BP has a 50% stake. Its partners include Sinopec Group (30%) and Sinopec Shanghai (20%). The company said that it took only 10 hours from feeding stocks to seeing the plant produce ethylene....

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INDIA: GAIL to invest in pipeline projects in Bangladesh

(EnergyAsia, March 29) — India’s gas major, GAIL Limited, said it has signed a Memorandum of Understanding with Bangladesh’s Business Development Corporation Limited (BDCL), to cooperate in building up Bangladesh’s gas transmission, pipelines and distribution networks. The MoU was recently signed by B S Negi, GAIL’s planning director, and A.K.M. Ruhul Amin, group vice president,...

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