SINGAPORE: SPC reports 73.7% rise in first quarter net profits

(EnergyAsia, April 27) — Singapore Petroleum Company has posted a 73.7% rise in first-quarter net profit to S$72.7 million on revenue of $1.449 billion (up 52% year-on-year). (US$1=S$1.65).             The company said it benefited from a favourable operating environment that included rising oil products demand in the region and higher oil prices on the world…

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THAILAND: PTT said planning a new oil refinery

(EnergyAsia, April 27) — Thai integrated oil company PTT Plc is reportedly planning to build a new oil refinery once it completes the acquisition of its two oil refining subsidiaries.   According to The Nation, PTT president, Prasert Bunsumpun, said it would look to build the new plant after merging Rayong Refinery Co (RRC) and…

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INDIA: ONGC reports higher crude oil output, record profits for FY2004

(EnergyAsia, April 27) — Indian upstream company ONGC said it produced 26.487 million metric tonnes (MMT) of crude oil for the year ended March 31 2005 compared with 26.057 million tonnes the previous year. The company said the 1.65% overall increase was achieved against a ‘natural decline’ of 6-8% per year for its ageing fields….

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PEOPLE: ICAP Energy’s line-up in Singapore

ICAP Energy Pte Ltd 6 Battery Road # 40-02B Singapore 049909 Tel (65) 68209055, Fax (65) 68209400   Name Designation Department Kevin Tan Managing Director Fuel Oil S B Naidu Broker Fuel Oil Paul Timothy Over Broker Fuel Oil Andrew Pearce Broker Fuel Oil Kelly Chua Broker Fuel Oil Ronnie Kang Manager Middle Distillates Judy…

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SRI LANKA: Colombo Port reported 6.9% volume growth

(EnergyAsia, April 27) — Sri Lanka Ports Authority (SLPA) has helped drive volume growth in the Port of Colombo, said the country’s Board of Investment (BOI). In the first quarter of 2005, Colombo Port’s throughput was 202,284 TEU containers, up by 6.85% from the first three months of last year. Volumes handled by SLPA amounted…

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CHINA: Shanghai Automotive Group and Shell plan to launch new fast oil change joint venture

(EnergyAsia, April 26) — The Shanghai Automotive Group Company Limited (SAGC) and Shell have announced plans to launch a new joint venture to develop fast lube service facilities for motorists in China.   The new joint venture, Anji Jiffy Lube Automotive Services Company Limited, will start building a network of fast lube service outlets this…

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CHINA: Grand Opening Ceremony for Changchun Gas Holdings

(EnergyAsia, April 26) — Hong Kong-listed Panva Gas Holdings Limited said it has obtained a business licence for its 48%-owned subsidiary Changchun Gas Holdings.   Panva Gas, the gas-business flagship of Sinolink Worldwide Holdings Limited, is a leading foreign investor in liquefied petroleum gas (LPG) and natural gas businesses in China. Its businesses comprise the…

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AUSTRALIA: ENERGEX recognised for greenhouse efforts

(EnergyAsia, April 26) — ENERGEX said it has been recognised among 100 Australian businesses that have been working to reduce greenhouse gas emissions. ENERGEX has long acknowledged the need to reduce the impact of greenhouse gas emissions, planting more than 170,000 trees and initiating a number of other strategic projects and initiatives since 1996.  …

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THAILAND: PTT says energy ‘landbridge’ project put on hold

(EnergyAsia, April 26, 2005) — Thailand’s has admitted it may not be able to implement a proposed US$7-billion, 250-km energy landbridge project as a result of flagging interest from prospective overseas partners and soaring increases in material costs. According to the Bangkok Post, Prasert Bunsumpun, president of state energy firm PTT Plc, Chinese investors had…

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THAILAND: PTT says energy ‘landbridge’ project put on hold

(EnergyAsia, April 26, 2005) — Thailand’s has admitted it may not be able to implement a proposed US$7-billion, 250-km energy landbridge project as a result of flagging interest from prospective overseas partners and soaring increases in material costs. According to the Bangkok Post, Prasert Bunsumpun, president of state energy firm PTT Plc, Chinese investors had…

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PEOPLE: Thailand’s energy minister, Intertek’s vice president for Asia

(EnergyAsia, April 26) — The following appointments were reported in the April issue of EnergyAsia Report. Viset Choopiban, a former President of PTT Public Company Limited (PTT), has been named Thailand’s energy minister, replacing Prommin Lertsuridej in a major reshuffle of the Thai Cabinet. There have been reports that Mr Viset would help ease tensions…

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MARKETS: US House of Representatives passed major energy legislation

(EnergyAsia, April 26) — The US House of Representatives has passed a major energy bill amid concerns that high energy costs are undermining US economic activity and consumer confidence. According to a State Department news release, the chamber voted 249-183 on April 21 to approve the measure aimed at boosting domestic production of energy and…

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MALAYSIA: Petronas Carigali makes country’s first basement oil discovery

(EnergyAsia, April 26) — Petronas Carigali Sdn Bhd, the exploration and production arm of Malaysia’s state oil and gas company Petronas, has discovered oil in the basement of an exploration well drilled within the Southern Malay Basin off Terengganu state, the first of such discovery in the country. The Anding Utara-1 exploration well and its…

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KOREA: GS Engineering, Daewoo win US$600 million gas plant contract from Qatar

(EnergyAsia, April 26) — A consortium of South Korea’s GS Engineering & Construction Corp and Daewoo Engineering & Construction Co has received a US$600 million order to build a gas processing plant from Qatar, Yonhap news reported. The consortium told the news service that it will build the gas condensate production facility for Laffan Refinery…

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INDIA: Shell-Total venture sells first regasified LNG from Hazira terminal

(EnergyAsia, April 26) — Shell Gas & Power and Total said their 74/26-owned Hazira liquefied natural gas (LNG) receiving terminal near Surat in the Indian state of Gujarat has begun operations. The US$600 million terminal received its first cargo on April 17 from Australia. The LNG was lifted from the North West Shelf LNG liquefaction…

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COMPANIES: Shell and Bechtel agree to $1.75 billion sale of power company InterGen

(EnergyAsia, April 26) — Shell Generating (Holding) BV, a subsidiary of The Royal Dutch/Shell Group, and Bechtel Enterprises Energy B.V., a subsidiary of Bechtel Group, Inc., have agreed to sell InterGen NV and 10 of its power plants to a partnership between AIG Highstar Capital II L.P. and Ontario Teachers’ Pension Plan for US$1.75 billion….

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CONFERENCE: Russia and Malaysia vying for presidency of International Gas Union (IGU)

(EnergyAsia, April 25) — Russia and Malaysia, two of the world’s most important gas producing countries, are vying to take over the Presidency of the International Gas Union (IGU) for 2009 to 2012. GAZPROM, the IGU charter member from Russian, has proposed Alexey B. Miller, chairman of the management committee and vice-chairman of the council…

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SAUDI ARABIA: Foster Wheeler awarded engineering services contract for new chemical facilities

(EnergyAsia, April 25) — UK-based Foster Wheeler Energy Limited said it has been awarded a project engineering services (PES) contract by Jubail Chemical Industries Company (JANA) for its epichlorohydrin and chlor-alkali project (known as Project HASSAD) to be located in the Secondary Industries Park at Al-Jubail Industrial City in Saudi Arabia. Foster Wheeler Energy is…

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PEOPLE: Study shows oil and gas employment down despite record oil prices and profits

(EnergyAsia, April 25) — In the face of record oil and gas prices, strong drilling activity and the largest cash flow in petroleum industry history, employment by the largest US oil and gas companies declined 4.1% in 2004, the 20th annual decline in the past 23 years, according to an analysis released today by energy…

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OMAN: Oman Oil, Oiltanking and Odfjell to invest US$200 million in Sohar port project

(EnergyAsia, April 25) — Oman Oil Company, Germany’s Oiltanking and Norway’s Odfjell will invest US$200 million to develop a major tank terminal and six deepwater marine jetties in Oman’s new Sohar port. The terminal will be able to handle 100,000-tonne vessels, Oiltanking managing director Raf van Steenbergen told local reporters. Work on the facilities, designed…

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JAPAN: Mitsubishi Heavy Industries to take over W’rtsil”s production operation in France

(EnergyAsia, April 25) — Japan’s Mitsubishi Heavy Industries Ltd (MHI) will take over Finnish W’rtsil”s manufacturing unit in France including its 70 employees. Wartsila said the transaction completes its restructuring programme initiated in 2003 to focus on its core products including medium-speed and low-speed engines.   In August 2004, W’rtsil’ sold the product rights of…

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JAPAN: Ballard delivered residential fuel cell in ceremony held at Prime Minister’s residence

(EnergyAsia, April 25) — Canada’s Ballard Power Systems Inc said it recently held a public ceremony for the delivery of the world’s first commercial fuel cell power generator systems was at the new official residence of the Japanese Prime Minister. A unit manufactured by Ebara Ballard Corporation was delivered by Tokyo Gas, the key component…

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INDIA: Cairn Energy provides update

(EnergyAsia, April 25) — UK’s Cairn Energy has provided an update of its activities in India last year.   It said it has begun operations at its ‘world-class’ Mangala oil discovery in block RJ/ON-90/1 in Rajasthan state. Mangala has proven and probable (2P) reserves of 376 million barrels (mmbbls) based on secondary recovery by water…

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CHINA: Law passed to promote and develop renewable energy resources in western region

(EnergyAsia, April 25) — Amid the worsening energy shortages nationwide, the Chinese government has passed a law to promote the development of renewable energy sources, with emphasis on solar energy in the country’s sun-drenched western region. This includes the Tibet Autonomous Region, Qinghai, Gansu, Xinjiang Uygur Autonomous Region. According to Xinhua New Agency, the Qinghai-Tibet…

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THAILAND: Energy Ministry seeks waiver on ethanol tax

(EnergyAsia, April 25) — Thailand’s Energy Ministry is lobbying the Cabinet to eliminate excise taxes on ethanol and import tariffs on engines that use natural gas as part of an energy conservation package now under consideration.   According to the Bangkok Post, Energy Minister Viset Choopiban wants the ex-factory excise tax on ethanol of 0.05…

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