CONFERENCE: Speakers line-up for APPEC in Singapore on September 19-21

(EnergyAsia, August 31) — The theme of this year’s APPEC conference to be held at the Raffles City Convention Centre in Singapore on September 19-21 is “High Oil Prices: Fundamentals vs Financials”.             The opening address will be delivered by Vivian Balakrishnan, Singapore’s Minister for Community Development, Youth and Sports and the Second Minister for...

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INDIA: IOC and state oil firms clinch ethanol supply deal

(EnergyAsia, August 31) — Indian Oil Corporation Ltd (IOC), acting on behalf of the country’s other state oil companies, has signed an agreement to purchase ethanol from sugar mill companies for use as a blendstock in their gasoline pools, Indo-Asian News Service reported.             Under the deal, Indian Sugar Mills Association (ISMA) will supply some...

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MARKETS: Extent of damage to Gulf platforms and refineries will determine the longevity of energy pr

(EnergyAsia, August 31) — While it is too early to assess damages, most of the US crude and natural gas production in the Gulf of Mexico has been shut down. The extent of the disruption will not be known until the evacuated workers return to the production platforms, said Eurasia Group Director of Global Energy,...

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MARKETS: Chevron provides update on Hurricane Katrina

(EnergyAsia, August 31) — US major Chevron said it has safely evacuated all its offshore employees and contractors from facilities in the US Gulf of Mexico prior to the approach of Hurricane Katrina last week. Chevron continues to produce some oil and natural gas in the Western Gulf of Mexico region.             Chevron said its...

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MALAYSIA: MayBan reiterates ‘buy’ for Scomi Group Bhd

(EnergyAsia, August 31) — MayBan Securities has reiterated its buy rating for Malaysian oil services company Scomi Group, after proclaiming the company’s second quarter financial results came within expectations.   Scomi’s second quarter turnover rose by 12.4% quarter-on-quarter while net profit declined 14% due to negative goodwill adjustment in the first quarter.   MayBan said:...

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KAZAKHSTAN: Nelson Resources limited reports continued growth in production and revenue and addition

(EnergyAsia, August 31) — Nelson Resources Limited, an independent exploration and production company in Toronto, Canada with operations in Kazakhstan, has released its results for the six months ended June 30.   Its net profit increased nearly 10 times to C$60.1 million compared with C$6.6 million from a year ago. Oil revenue rose 191% to...

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COMPANY: Wood Group wins multi-year contracts with JVPC Vietnam and Premier Oil Indonesia

(EnergyAsia, August 31) — Wood Group Production Facilities (Asia Pacific), part of UK’s John Wood Group PLC, said it recently won two multi-year, turbo-machinery operations and maintenance contracts. Premier Oil Indonesia awarded the Wood Group a one-year renewable service contract for offshore rotating equipment, including the provision of on-site rotating equipment engineers. In Vietnam, the...

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INDIA: Defence Ministry takes action against diesel theft

(EnergyAsia, August 31) — India’s Ministry of Defence said it has begun action against those responsible for stealing diesel supply off delivery trucks meant for the army.           In a statement to Parliament last week, the ministry said an incident of diesel pilferage in the Ladakh area in northern India was detected on July 16....

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AUSTRALIA: BHP Billiton reports record results for year ended June 30

(EnergyAsia, August 31) — Australia’s leading resources group BHP Billiton has reported record revenues and earnings on the back of rising oil and commodity prices and surging demand.   Its total turnover for the year ended June 2005 jumped 27.5% to US$31.8 billion, on the back of higher prices for all commodities with base metals,...

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INDIA: Panel calls for cuts in import duties on diesel, gasoline

(EnergyAsia, August 31) — An Indian parliamentary panel has urged the government to reduce import duties on gasoline and diesel to help mitigate the damage on the local economy caused by surging international crude oil prices.   The Standing Committee on Petroleum and Natural Gas is also calling for the rationalisation of excise rates, the...

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CLIMATE CHANGE: Material science to the rescue

(EnergyAsia, August 30) — Advances in materials science and lighting technology could help greatly reduce world energy use and global warming.   According to materials science expert Colin Humphreys, adoption of the light emitting diode (LED) as the illumination of choice can cut down energy consumption significantly. By logical extension, a decrease in energy consumption...

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AUSTRALIA: Caltex reports lower first half profits

(EnergyAsia, August 30) — Caltex Australia Limited said its after-tax profit for the first half excluding significant items fell to A$149.6 million compared with $176.1 million for the same period last year. (US$1=A$1.32). Caltex said it made significant gains in market sales volume and marketing margins compared with the first half of 2004. Gasoline sales increased...

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SINGAPORE: SPC secures new exploration block off Cambodian coast

(EnergyAsia, August 30) — Singapore Petroleum Company Limited (SPC) said its wholly-owned subsidiary, SPC Cambodia Ltd, has taken a 30% interest in the Cambodia’s offshore Block B. It signed the exploration deal with the Cambodia government represented by the Cambodian National Petroleum Authority.   SPC’s partners include Thai upstream company PTTEP International Limited, the operator...

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CLIMATE CHANGE: Greenland melting away, raising world’s sea level

(EnergyAsia, August 30) — Greenland, one of the world’s largest and least inhabited land mass, was the focus of two recent important investigations on the impact of global warming on the planet. In both, officials, scientists and journalists found that increased warming had accelerated the melting of giant icebergs in Greenland over the past decade,...

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CHINA: CNPC at ground breaking ceremony for 5-million t/y condensate refinery in Skikda, Algeria

(EnergyAsia, August 30) — A CNPC delegation led by Vice President Wang Yilin recent took part in a ground breaking ceremony for a condensate refinery in Skikda in Algeria. CPECC, a CNPC subsidiary, has been appointed by Algeria to build the five million tons/year plant by April 20 2008.   Algerian President Abdelaziz Bouteflika officiated...

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INDIA: OVL signs North Ramadan concession agreement with Egypt

(EnergyAsia, August 30) — Indian upstream company ONGC Videsh Ltd (OVL) and its consortium partner IPR Energy Red Sea Inc, a subsidiary of the Texas-based IPR, have signed an oil and gas concession agreement in the North Ramadan area with the government of Egypt. The consortium will invest more than US$31 million in drilling five...

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INDIA: Labland to supply crop for biofuels production to UK

(EnergyAsia, August 13) Ð India’s Labland Biotech has firmed up a contract to supply cultured jatropha plants and jatropha seed-derived crude oil to the UK, the Business Standard reported. Jatropha is a crop gaining popularity in parts of Asia among farmers as a crop-producing fuel. Mysore-based biotechnology company Labland has a significant customer base in...

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INDIA: Panel discussing ways to enhance energy ties with China

(EnergyAsia, August 30) — A high level Indian government and industry delegation is seeking to work out opportunities for cooperation in the oil and gas sphere with China, according to Indian news reports.             India and China are emerging as the world’s two largest fastest growing energy consumers and are having a major impact on...

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MARKETS: Oil shock scenario predicts 2 million US job losses

(EnergyAsia, August 30) — A recent study by the US National Commission on Energy Policy predicted dismal economic and global impacts if a major oil supply disruption Ð likely in Saudi Arabia Ð should hit markets.             The study assessed the impacts of a scenario where a sudden disruption would suddenly remove 3.5 million barrel...

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SINGAPORE: Advanced Holdings receives in-principle approval for 3-for-10 bonus issue

(EnergyAsia, August 30) — Singapore-listed Advanced Holdings Ltd, a home-grown designer and provider of process equipment for key industrial customers said it has received in-principle approval from the Singapore Exchange Securities Trading Limited for its proposeds 3-for-10 bonus issue.   On August 11, the company had proposed a bonus issue of 25,946,213 new ordinary shares...

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CONFERENCE: PS India 2005 in Hyderabad

(EnergyAsia, August 29) — Often described as a link between the north and the south, and as a meeting place of the east and the west, Hyderabad is the ideal location to stage engineering exhibitions, allowing companies to capture the neighbouring industrial zones of India.             A variety and wide range of products and services...

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PEOPLE: Dubai Metals and Commodities Centre appoints Tilak K. Doshi as its executive director for en

(EnergyAsia, August 29) — Dubai Metals and Commodities Centre (DMCC) has appointed Tilak K. Doshi as its executive director for energy. Dr Doshi, an industry expert with over 15 years of international experience in leading oil and gas companies, will drive the exchange’s energy products and services in the region. A DMCC statement said he...

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NEW ZEALAND: Origin Energy awarded new exploration permit in South Island’s Canterbury Basin

(EnergyAsia, August 29) — Origin Energy Resources NZ Limited said it has been awarded a new exploration permit in the offshore Canterbury Basin in New Zealand’s South Island. The company is a subsidiary of Australia’s Origin Energy Limited. Crown Minerals of New Zealand awarded PEP 38262 in response to Origin’s application for Area PEPA 38262....

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MARKETS: ESAI predicts continued tight European distillate market

(EnergyAsia, August 29) — Diesel demand in Europe continues to grow sharply this year, with the latest official data showing demand growth averaging 175,000 b/d through May. According to ESAI’s Atlantic Basin Stockwatch, refinery runs remain below last year’s levels, indicating a tighter European distillate market ahead. “Rotterdam gasoil spreads have rebounded this month, suggesting...

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MALAYSIA: KIC Oil expects revenue to reach US$800 million this year

(EnergyAsia, August 29) — KIC Oil and Gas Ltd (KIC), a Labuan-based oil trader and logistics provider, expects its revenue to rise to US$800 million for financial year ending December 31, 2005.   According to Bernama news agency, KIC’s CEO Abdul Rashid Mohamad Isa said KIC registered revenue of US$130.3 million last year. For the...

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