VIETNAM: Talisman signs petroleum contract for offshore Block 15-2/01

(EnergyAsia, April 29) — Talisman Vietnam 15-2/01 Ltd, a wholly-owned subsidiary of Canadian upstream company Talisman Energy Inc, and PetroVietnam Exploration and Production Company, a subsidiary of Vietnam Oil and Gas Corporation, have signed a petroleum contract for offshore Block 15-2/01 in Vietnam. Talisman Vietnam 15-2/01 Ltd has a 60% interest in the block with...

This article is for Subscriber members only.
Log In Register

THAILAND: PTTEP announced signing of gas sales agreement for Oman gas project

(EnergyAsia, April 29) — Thai upstream company PTTEP said it expects to conclude a gas sales agreement (GSA) for the Shams gas field in the Oman 44 project with the Omani government as buyer. Subsidiary PTTEP Middle East will sign the agreement. The company said it plans to start producing 50 million cubic feet per...

This article is for Subscriber members only.
Log In Register

SINGAPORE: Oil rig business helps boost Keppel Corp’s profit 10.7% in first quarter

(EnergyAsia, April 29) — Singapore’s Keppel Corp said the strong performance from its oil-rig and property businesses helped raise its first quarter net profit by 10.7% to S$145 million from year-ago levels. (US$1=S$1.65). Revenue was up 27.8% to S$1.15 billion.             Subsidiary Keppel Offshore and Marine, which oversees the oil-rig business, secured a record level...

This article is for Subscriber members only.
Log In Register

MARKETS: BP chief shares his views on options to build energy security

(EnergyAsia, April 29) — Below is an edited copy of a recent speech on energy security delivered by John Manzoni, BP’s chief executive for refining & marketing, in New Delhi, India. “Why has energy security become such an important issue over the last few years, not just here in India but right around the world?...

This article is for Subscriber members only.
Log In Register

DUBAI: Fujairah to continue expanding bunkering port

(EnergyAsia, April 29) — Fujairah will continue to expand its bunkering services as its port operations grow boosted recently by the agreement signed between Fujairah’s Port Authority and Dubai Ports International.   “This agreement means Fujairah’s potential and competitiveness as a container port can be further developed so the port can keep up with its...

This article is for Subscriber members only.
Log In Register

COMPANIES: Gasunie and Vopak study possibility of developing an LNG terminal

(EnergyAsia, April 29) — The transport company of the BV Nederlandse Gasunie (Gasunie) and Royal Vopak NV have announced plans to collaborate on the development of a receiving terminal for liquefied natural gas (LNG). The Dutch companies have signed an agreement to study the project including where it should be located and parties that could...

This article is for Subscriber members only.
Log In Register

CHINA: Westport signs MOU with Beijing Tianhai Industry Co Ltd for natural gas tanks

(EnergyAsia, April 29) — Westport Innovations of Vancouver, Canada said it has signed a Memorandum of Understanding with China’s Beijing Tianhai Industry Co. Ltd. (BTIC) to jointly explore business opportunities to develop and market natural gas tanks for the transportation market. BTIC is a Sino-Korean cooperative company that has expertise in the design and manufacture...

This article is for Subscriber members only.
Log In Register

NEW ZEALAND: Origin Energy says Kupe gas field reserves upgraded

(EnergyAsia, April 29) — Australian upstream company Origin Energy said that its Kupe joint venture has approved and adopted a reserves upgrade for the central field area of the Kupe gas and condensate field in PML38146 in the Taranaki Basin of New Zealand. The estimate of total proved-plus-probable (2P) hydrocarbons recoverable from the Farewell Formation...

This article is for Subscriber members only.
Log In Register

AUSTRALIA: Caltex raises cost of clean fuels project by A$100 million to A$395 million

(EnergyAsia, April 29) — Caltex Australia told shareholders at this week’s annual general meeting that it has raised the cost of its ‘Clean Fuels Project’ involving the upgrade of its oil refinery to produce greener products by A$100 million to A$395 million. (US$1=A$1.3).   Its managing director Dave Reeves said Caltex will comply with the...

This article is for Subscriber members only.
Log In Register

CONFERENCE: Trade and Energy Ministers to address global LNG gathering in Singapore

(EnergyAsia, April 29) — Vivian Balakrishnan, Singapore’s Second Minister for Trade and Industry, will officially open LNG Supplies for Asian Markets: New Challenges and Potential Opportunities in the East (LNGA 2005) at the Meritus Mandarin Singapore on May 12. A key speech by Purnomo Yusgiantoro, Indonesia’s Minister of Energy and Mineral Resources, will follow. Up...

This article is for Subscriber members only.
Log In Register

AUSTRALIA: Santos wins gas contract for new Queensland power station

(EnergyAsia, April 28) — Australian upstream company Santos Limited has secured a 10-year contract to supply gas to a new Queensland power station being developed by Babcock & Brown and ERM Power.   Santos said that the long-term contract is to supply up to 45 petajoules of gas to the A$340 million Braemar Power Project,...

This article is for Subscriber members only.
Log In Register

COMPANY: Showdown at ChevronTexaco’s shareholder meeting over Amazon forest claims

(EnergyAsia, April 28) — The pressure on ChevronTexaco over its historic $6 billion Ecuador rainforest trial escalated significantly last Tuesday when leaders representing the three largest public pension funds in the US called on the company to take action to resolve the dispute.   According to environmental group Amazon Watch, California Controller Steve Westly requested...

This article is for Subscriber members only.
Log In Register

PEOPLE: Saudi Aramco’s Abdallah S. Jum’ah named EIG’s petroleum executive for 2005

(EnergyAsia, April 28) — Abdallah S. Jum’ah, President and CEO of Saudi Arabian Oil Company (Saudi Aramco), has been named as Energy Intelligence’s Petroleum Executive of the Year Award for 2005. Energy Intelligence’s President Thomas Wallin said Mr Jum’ah was chosen by his peers in a confidential selection process administered. Energy Intelligence said: “His selection...

This article is for Subscriber members only.
Log In Register

CHINA: W’rtsil’ and Shanghai Marine Diesel Engine Research Institute sign joint venture agreement on

(EnergyAsia, April 28) — Finland’s W’rtsil’ and Shanghai Marine Diesel Engine Research Institute (SMDERI) have signed an equal joint venture contract to start manufacturing of W’rtsil’ designed marine auxiliary engines in China. SMDERI, a subisidary of China Shipbuilding Industry Corporation (CSIC), manufactures diesel engines, engine room automation equipments, noise and vibration reduction solution and for...

This article is for Subscriber members only.
Log In Register

MARKETS: ESAI says contango highlights changing OPEC strategy

(EnergyAsia, April 28) — The past year has seen not only new records set for the WTI NYMEX crude futures contract, but a fundamental shift in the market structure, said US consultants ESAI.   In the latest edition of its Global Crude Oil Outlook, ESAI said: “The forward curve for both the WTI and Brent...

This article is for Subscriber members only.
Log In Register

RUSSIA: Proposed oil pipeline to reach China before Japan

(EnergyAsia, April 28) — Russia will build a branch pipeline to transport oil to China from eastern Siberia before completing the main pipeline catering to the Japanese market, Russia’s industry and energy minister Viktor Khristenko told Kyodo News Agency.   According to Kyodo, Russia’s decision to prioritise construction of the China-bound branch pipeline is a...

This article is for Subscriber members only.
Log In Register

VIETNAM: Nine power plants to be built this year

(EnergyAsia, April 28) — State-owned Electricity of Vietnam (EVN) will build nine more power plants in the second half of this year, reported Vietnam’s Econet service. The projects include the Kanak-An Khe Hydro-electric Power Plant, the Hai Phong Thermo-electric Plant and the O Mon 1 Power Plant (scheduled for June), the Quang Ninh Thermo-electric Plant...

This article is for Subscriber members only.
Log In Register

CHINA: Xinao Gas posts 37.8% rise in net profit for 2004

(EnergyAsia, April 28) — Xinao Gas Holdings Limited, a privately-owned Chinese piped gas operator, has posted a 37.8% rise in 2004 net profit to RMB252 million on revenue of RMB1.44 billion (up 64%). The company said its earnings per share grew 19.8% to RMB0.297. (US$1=RMB8.28). The board will recommend the payment of a final dividend...

This article is for Subscriber members only.
Log In Register

MARKETS: ESAI says US gasoline imports to become more expensive

(EnergyAsia, April 28) — Approaching the annual switch from winter to summer grade gasoline, the primary cause of relatively high inventory has been the imported blendstocks needed to make summer grade gasoline, said US energy consultants ESAI.             In the latest edition of its Atlantic Basin Stockwatch, ESAI said this reliance on imports will cause...

This article is for Subscriber members only.
Log In Register

SINGAPORE: Jurong Shipyard secures US$127.1 million rig building contract

(EnergyAsia, April 28) — Jurong Shipyard, a subsidiary of Singapore’s SembCorp Marine has secured a rig building contract worth US$127.1 million with Petrojack AS for the construction of a Baker Marine Pacific Class 375 deep drilling offshore jack-up rig. Petrojack AS is a company formed by Norwegian Berge Gerdt Larsen, founder of Larsen Oil &...

This article is for Subscriber members only.
Log In Register

BIOFUELS: With era of cheap oil over, biofuels will become an important alternative

(EnergyAsia, April 27) — “Nearly everyone believes the days of cheap oil are over, and that sooner rather than later we will need a cost- effective, environmentally prudent replacement — biofuels are one of the few options available today,” said Paul Roberts, author of ‘The End of Oil: On the Edge of a Perilous New...

This article is for Subscriber members only.
Log In Register

INDONESIA: Ties with China strengthened as strategic partners

(EnergyAsia, April 27) — Chinese President Hu Jintao and Indonesian President Susilo Bambang Yudhoyono signed a joint statement this week in Jakarta proclaiming the two nations are “strategic partners.”   According to Xinhua news agency, Mr Hu was on a state visit to Indonesia after attending the Asian-African summit and the 50th anniversary of the...

This article is for Subscriber members only.
Log In Register

SINGAPORE: ExxonMobil says study on second ethylene plant progressing

(EnergyAsia, April 27) — ExxonMobil said it is studying plans for a second ethylene cracker plant.   In a short statement, the company said: “The feasibility study for a second steam-cracking train in Singapore is being progressed.  The new world-scale train would be located at and integrated with the existing ExxonMobil Singapore complex and would...

This article is for Subscriber members only.
Log In Register

IRAN: Refinery upgrades to boost gasoline output by 7million litres/day

(EnergyAsia, April 27) — The Iranian government said it will spend between US$100 and $150 million upgrading its refineries to boost gasoline output by seven to eight million liters a day, reported official news agency IRNA. IRNA cited Mohammad Zali, director of the Refining Affairs Department at National Iranian Oil Derivatives Refining and Distribution Company,...

This article is for Subscriber members only.
Log In Register

CHINA: Taxes to promote energy conservation being considered

(EnergyAsia, April 27) — China’s state agencies and research institutes are studying the need to impose a new tax to promote energy conservation to manage the country’s soaring energy demand. “We are currently doing research work for the taxation with the pertinent government departments and research institutes, and a proposal is expected to be reached...

This article is for Subscriber members only.
Log In Register