Archive | May, 2005

INDIA: IOC beats off Reliance’s challenge to retain railways business

(EnergyAsia, May 31) — Indian Oil Corporation (IOC) has offered to supply fuels to Indian Railways for a discount, matching the price set by rival Reiance Industries Ltd.   “We will match the discount offered by Reliance to railways for supply for fuels,” Indian Oil’s director N.G.Kannan told reporters recently. Indian Oil supplies 1.67 million […]

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MALAYSIA: MayBan retains ‘buy’ rating on SapuraCrest Petroleum Bhd

(EnergyAsia, May 31) — MayBan Securities has retained a ‘buy’ rating on Malaysia-listed SapuraCrest Petroleum after its subsidiary was recently awarded a topside maintenance works contract by ExxonMobil Exploration and Production Malaysia Inc. SapuraCrest won the five-year contract worth between RM140 million and RM145 million through subsidiary Sarku Engineering Services Sdn Bhd. (US$1=RM3.8).   Work […]

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MALAYSIA: Halliburton division awards $8.6 million software grant to Universiti Teknologi PETRONAS

(EnergyAsia, May 31) — Halliburton’s Digital and Consulting Solutions Division said that Landmark has awarded Universiti Teknologi PETRONAS (UTP) in Malaysia $8.6 million in software licensing for students pursuing engineering degrees. The grant, spanning a three-year period, will provide the students at UTP with access to Landmark’s top drilling, production optimisation, field development and prospect […]

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JAPAN: Brazil’s Petrobras signs memoranda of understanding on project financing deal

(EnergyAsia, May 31) — Brazil’s energy company Petrobras said it signed four memoranda of understanding with Japanese financial institutions for project financing during last week’s official visit of President Luiz In‡cio Lula da Silva and presidential committee to Japan. The MOUs were signed by Petrobras President José Eduardo Dutra that would provide for incentives for […]

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INDIA: GAIL – IndianOil sign joint venture agreement for city gas projects

(EnergyAsia, May 31) — GAIL (India) Limited and IndianOil recently signed a Joint venture agreement to implement city gas projects in the cities of Agra and Lucknow. The agreement was inked by Proshanto Banerjee, GAIL’s chairman and managing director, and Indian Oil chairman Sarthak Behuria.   The signing of the joint venture agreement has cleared […]

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SAUDI ARABIA: SABIC expands capacity to meet growing Asian demand

(EnergyAsia, May 31) — Saudi Basic Industries Corporation (SABIC), the world’s 10th largest petrochemical company, is expanding its operations in the Middle East to meet Asia’s fast growing demand for petrochemicals, especially intermediates and polyolefins.   Khaled Al Mana, vice president for intermediates, told a media conference: “We are currently the second largest producer of […]

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