Archive | February, 2006

AUSTRALIA: Woodside says Mauritania project has started producing oil

(EnergyAsia, February 28) — Australian upstream company Woodside Petroleum Ltd said its operated Chinguetti oil project in Mauritania in West Africa has begun producing crude oil. The hook-up, testing and commissioning of the floating production storage and offloading facility, the Berge Helene, which is located about 90km south-west of the capital Nouakchott Ð has been […]

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MALAYSIA: MayBan recommends ‘hold’ on shares of Golden Hope Plantations Bhd

(EnergyAsia, February 28) — MayBan Securities has placed a ‘hold’ on the shares of Malaysia-listed plantation operator and biofuels player Golden Hope. The company’s annualised first half FY2006 results came in significantly below MayBan’s expectations and industry consensus.   MayBan said the group’s annualised second quarter FY2006 earnings came in significantly below consensus (-36%) and […]

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MALAYSIA: MayBan continues to call KNM Group Bhd a ‘buy’

(EnergyAsia, February 28) — MayBan Securities has continued to stump for the stock of Malaysian engineering group KNM Group, which reported better-tan-expected FY2005 results.             MayBan said KNM’s financial results came in 13.9% above its forecast of RM36.6million, representing an increase of 190.9% over the previous year. KNM has recommended a final dividend of 5 […]

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MALAYSIA: Scomi’s revenue crosses RM1 billion mark

(EnergyAsia, February 28) — Malaysia-listed oil and gas services provider Scomi Group Berhad said its 2005 revenue surged by 81% to a record RM1.07 billion, crossing the RM1 billion mark for the first time. Its full-year net profit rose by 146% to RM151.7 million. (US$1=RM3.7).             The impressive gains were helped by a strong fourth […]

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SAUDI ARABIA: Consultant says oil attack highlights Islamist intentions and Saudi preparedness

(EnergyAsia, February 28) — New York-based consultant Eurasia Group said last Friday’s attempted military attack on the Abqaiq oil facility in Saudi Ariabia showed that terrorism risk remains high, particularly around the kingdom’s oil lifeline. Analyst Rochdi Younsi said the kingdom remained high as a terrorist target “despite Saudi Arabia’s gradual move toward economic reforms […]

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SAUDI ARABIA: Vela to acquire six new crude tankers

(EnergyAsia, February 28) — Saudi Arabia’s state-owned Vela International Marine Limited said it has signed contracts with Korea’s Daewoo Shipbuilding & Marine Engineering Co Ltd to build six very large crude carriers (VLCCs) at its Okpo Shipyard in Korea.   Vela said the ships will be built to its high specifications and standards, including state-of-the-industry, […]

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SINGAPORE: Interra Resources reports turnaround with net profit of S$3.4 million for FY2005

(EnergyAsia, February 28) — Interra Resources Limited, a Singapore-listed oil and gas upstream company, has reported a net profit of S$3.4 million for 2005, compared with a net loss of S$800,000 for 2004. Revenue rose 66% to S$18.1 million from S$10.9 million while gross profit climbed 171% to S$6.7 million from S$2.5 million. (US$1=S$1.62).   […]

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INDIA: ONGC and Shell subsidiary team up to for bitumen, refinery study

(EnergyAsia, February 28) — Shell Bitumen India Private Limited (SBIPL), a subsidiary of the Shell Group of Companies, has teamed up with Indian upstream company ONGC to formalise the broad terms of manufacturing bituminous products and marketing.   Subir Raha, ONGC chairman and managing director, and Vikram Singh Mehta, chairman of the Shell Group of […]

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