SINGAPORE: Keppel secures contract for Qatargas LNG carriers

(EnergyAsia, February 28) — Singapore’s Keppel Shipyard Limited said it has signed an alliance service agreement with several Japanese firms for the drydocking of a fleet of Moss Rosenburg (MOSS) type of liquefied natural gas (LNG) carriers chartered by Qatar Liquefied Gas Company Ltd. The five-year agreement was signed with MO LNG Transport Co., Ltd...

This article is for Subscriber members only.
Log In Register

AUSTRALIA: AGL says it has not received any formal proposal yet from Alinta

(EnergyAsia, February 28) — The Australian Gas Light Company (AGL) said it has not received a formal merger proposal from another Australian company, Alinta, although several days have passed since Alinta revealed its merger plan and disclosed that it had been building a stake in AGL.   AGL said its chairman Mark Johnson had met...

This article is for Subscriber members only.
Log In Register

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...

This article is for Subscriber members only.
Log In Register

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...

This article is for Subscriber members only.
Log In Register

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...

This article is for Subscriber members only.
Log In Register

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...

This article is for Subscriber members only.
Log In Register

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...

This article is for Subscriber members only.
Log In Register

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,...

This article is for Subscriber members only.
Log In Register

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).  ...

This article is for Subscriber members only.
Log In Register

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...

This article is for Subscriber members only.
Log In Register

PHILIPPINES: Army protection for energy installations after President declared national emergency

(EnergyAsia, February 27) — The Philippines is in political turmoil again after President Gloria Macapagal Arroyo declared a national emergency on February 25, ordering the arrest of military officers and civilians allegedly involved in a plot to overthrow her administration. The army has been ordered to protect oil, gas and power installations as part of...

This article is for Subscriber members only.
Log In Register

MALAYSIA: Scomi Marine reports record fourth quarter profit of RM20.3 million

(EnergyAsia, February 27) — Malaysia-listed Scomi Marine Bhd, an associate company of Scomi Group Bhd, has announced a record net profit of RM20.3 million for the fourth quarter ended December 31 2005, on the back of a RM136.3 million turnover. (US$1=RM3.71).   The company said that for the full financial year ended December 31 it...

This article is for Subscriber members only.
Log In Register

INDONESIA: Energy Ministry and Japan’s MHI held nuclear power seminar in Jakarta

(EnergyAsia, February 27) — Japan’s Mitsubishi Heavy Industries Ltd (MHI) said it and Indonesia’s Ministry of Energy and Mineral Resources (MEMR) jointly held a nuclear energy seminar in Jakarta last week. Entitled, “MEMR-MHI Nuclear Seminar for Public Information Towards the Introduction of First Nuclear Power Plant into Indonesia”, the seminar was aimed at providing information...

This article is for Subscriber members only.
Log In Register

CHINA: Push to expand economic, trade and energy ties with Pakistan

(EnergyAsia, February 27) — China and Pakistan vowed to boost their economic, trade and energy ties following last week’s successful visit to Beijing by Pakistani President Pervez Musharraf.   In a joint statement, both sides agreed to explore new ways to expand economic cooperation and trade to promote common development for their peoples.   Xinhua...

This article is for Subscriber members only.
Log In Register

CHINA: CITIC Group to invest in Ivanhoe Energy as part of quest to secure international energy resou

(EnergyAsia, February 27) — Ivanhoe Energy Inc and CITIC Resources, a subsidiary of China’s CITIC Group, said that CITIC Resources will convert its 40% working interest in the Kongnan Project in China’s Dagang oilfield into shares of Ivanhoe Energy.   CITIC, formerly China International Trust & Investment Corporation, will pay a total of US$27,386,135, comprising...

This article is for Subscriber members only.
Log In Register

CHINA: CNOOC, Devon Energy signed new production sharing contract (PSC)

(EnergyAsia, February 27) — China’s CNOOC Limited said its parent company, China National Offshore Oil Corporation (CNOOC) has signed a production sharing contract (PSC) with NYSE-listed Devon Energy Corporation for block 11/34 in the Yellow Sea.   The block covers a total area of approximately 10,840 sq km in water depth of 20 to 60...

This article is for Subscriber members only.
Log In Register

BLOG: US reeling from globalisation’s impact

(EnergyAsia, February 27) — Some members of the US establishment are deeply worried about Arabs taking control of their key ports, citing security fears. This followed the Dubai Ports World’s capture of UK’s P&O last month. after an intense bidding war against Singapore’s PSA. P&O is a global port owner and operator, and counts those US ports among...

This article is for Subscriber members only.
Log In Register

AUSTRALIA: Santos increases energy reserves, adding 122 million barrels of oil

(Energyasia, February 27) — Australian upstream company Santos said it has added a record 122 million barrels of oil equivalent (mmboe) of proven (1P) reserves last year through exploration, appraisal, revisions and acquisitions. After allowing for production of 56 mmboe, 1P reserves increased by 66 mmboe to 414 mmboe, up from 348 mmboe at the...

This article is for Subscriber members only.
Log In Register

AUSTRALIA: Caltex says profit increase tempered by refinery project delay

(EnergyAsia, February 27) — Caltex Australia has announced an after tax profit of A$414 million for last year compared with A$350 million for 2004. The latest profit is equalled to 2.2 Australian cents of profit per litre of petroleum products sold. (US$1=A$1.33).   Caltex managing director Dave Reeves attributed the higher profit to a stronger...

This article is for Subscriber members only.
Log In Register

CONFERENCE: US SolArc and China’s UNIPEC to present at 2nd Annual Energy APAC Conference in Beijing

(EnergyAsia, February 27) — SolArc, Inc, a leading provider of enterprise supply, trading and risk management solutions for the global energy industry, will present a UNIPEC case study at the 2nd Annual Energy APAC Conference in Beijing, March 13 and 14 2006.   UNIPEC is China’s largest trader of crude oil and refined products, with...

This article is for Subscriber members only.
Log In Register

RENEWABLES: BP, Edison Mission plan major hydrogen power project for California

(EnergyAsia, February 24) — BP and Edison Mission Group (EMG), a subsidiary of Edison International, are planning a to build a US$1 billion hydrogen-fuelled power plant in California, US that would generate clean electricity with minimal carbon dioxide (CO2) emissions.   Describing it as the first-of-its-kind plant, the partners said the facility would be located...

This article is for Subscriber members only.
Log In Register

TANKERS: Industry to study and discuss report on incidents of explosions on chemical and product tan

(EnergyAsia, February 24) — An international group comprising trade associations representing marine and oil tanker companies, has recently submitted its detailed findings on a number of explosions on smaller chemical and products tankers to the maritime safety committee of the International Maritime Organisation (IMO). The committee will study the findings and recommendations. Data provided by...

This article is for Subscriber members only.
Log In Register

AUSTRALIA: Encounter Resources aims to raise A$4 million for JV in uranium projects

(EnergyAsia, February 24) — Encounter Resources Limited recently lodged with the Australian Securities and Investment Commission (ASIC) a prospectus for the issue of up to 20 million shares at an issue price or A$0.20 each to raise a total of up to A$4 million with the right to accept over subscription of 5 million shares...

This article is for Subscriber members only.
Log In Register

CHINA: CNOOC’s offshore field begins production

(EnergyAsia, February 24) — China National Offshore Oil Company Limited (CNOOC Ltd) said one of its offshore oil fields in the South China Sea has come onstream, producing around 1,500 barrels per day of oil.   The Hui Zhou (HZ) 19-1 field is located in the northern part of block 16/19, about 120 kilometres southeast...

This article is for Subscriber members only.
Log In Register

JAPAN: Nippon Oil raised earnings estimates after reporting strong April-December growth

(EnergyAsia, February 24) — Japan’s biggest oil distributor, Nippon Oil Corporation has raised its earnings projection for fiscal 2005 after reporting strong growth in both sales and profit in the April 1 to December 31 period, thanks to a sharp rise in oil prices.   The company said its net profit for the period rose...

This article is for Subscriber members only.
Log In Register