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…

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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…

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PHILIPPINES: Ex-World Bank consultant urges power privatisation, renewables use to avert energy cris

EnergyAsia, February 24)—The Philippines needs to accelerate its privatisation programme for the power sector and boost the use of renewables if it is to avoid an energy crisis. Mike Domingo, a former World Bank consultant, said that Manila could end up losing billions of dollars in revenues if it does not broaden and speed up…

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MARKETS: UK consultant questions if refining is headed for overcapacity and low returns

       (EnergyAsia, February 24) — While investor appetite in the oil refining industry has been transformed and asset prices rising with it, UK-based consultant Wood Mackenzie believes that if all of the announced refinery capacity additions come on stream, the refining industry could return to a position of overcapacity and low-returns.             At the end…

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INDONESIA: Oiltanking to build deep water oil terminal in West Java

(EnergyAsia, February 24) —Germany’s Oiltanking group has announced that it will build a storage terminal for oil products and gases at the port town of Merak in West Java, Indonesia. The US$120 million terminal will serve the recently deregulated oil and gas market in Indonesia.                 With water draft of up to 18m and various…

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PAKISTAN: Local company, US firm to jointly set up LNG import terminal

(EnergyAsia, February 23) — Pakistan’s Associated Group has signed a memorandum of understanding (MoU) with Excelerate Energy of the US to jointly terminal to handle liquefied natural gas (LNG) imports.   Excelerate holds the patent for a technology for re-gasifying LNG onboard gas-carrying marine tankers and transmitting the gas through a submarine channel. The process…

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MARKETS: US action group on energy security to host business leaders roundtable

(EnergyAsia, February 23) — A US action group, Securing America’s Future Energy (SAFE), said it will be hosting a Business Leaders Roundtable on Oil Dependence later this month in Washington DC. The event will bring together leaders from some of the country’s most prominent businesses, US Senate and the military leaders for a candid discussion on oil…

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VIETNAM: Japan’s MHI receives full-turnkey order from Electricity of Vietnam for 330 MW thermal powe

(EnergyAsia, February 23) — Japan’s Mitsubishi Heavy Industries Ltd (MHI) said it has received a full-turnkey order from state power company Electricity of Vietnam (EVN) for the construction of the O Mon thermal power plant in southern Vietnam. The 330 MW plant is expected to start up in February 2009.   The plant will be…

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SINGAPORE: KS Energy Services acquires remaining 25% stake in Globaltech Group Pte Ltd

(EnergyAsia, February 23) — Singapore’s KS Energy Services Limited said it has entered into an agreement to acquire 125,000 ordinary shares of S$1 each in the capital of GlobalTech Group Pte Ltd or the remaining 25% equity interest that it did not yet own. (US$1=S$1.62). The company bought the shares from Woo Peng Kong for…

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CHINA: CNOOC Limited signs PSC for block S in Equatorial Guinea

(EnergyAsia, February 23) — China’s CNOOC Limited said its subsidiary, CNOOC Africa Limited, has signed a production sharing contract (PSC) to explore for oil and gas in Equatorial Guinea. The contract for block S was signed with the Ministry of Mines, Industry and Energy and state GEPetrol.   Block S covers a total area of…

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AUSTRALIA: State government accused of going soft on ExxonMobil over refinery row

(EnergyAsia, February 23) — In 2003, ExxonMobil closed its Port Stanvac oil refinery at South Australia state, promising that it would make a decision about the plant by the middle of this year.   However, the company announced last month that it would reserve its right to do nothing until 2009. The state government’s failure…

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AUSTRALIA: New shipping service, Adelaide-Darwin railway to boost trade links with China

(EnergyAsia, February 23) — The launch of a new shipping service between Shanghai and Darwin combined with the Adelaide-to-Darwin railway could expedite trade between Australia and Asia and China in particular, reported The Australian.   Hai Win Shipping has been conducting trials for about a year, and the latest shipment, the eighth and largest, carried…

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CHINA: Xinao Gas expands into green energy business

(EnergyAsia, February 23) — Hong Kong-listed Xinao Gas Holdings Limited, a privately-owned piped gas operator in China, said it is expanding into the business of green providing green energy. Xinao will invest in a coal conversion project in Erdos in Inner Mongolia, which will produce methanol and dimethyl ether (DME).   The company said the…

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JAPAN: Solar power generation market to expand by more than 30% a year

(EnergyAsia, February 23) — A research company has predicted that Japan’s photovoltaic (PV) cells and modules market, estimated to be 640 MW in capacity or 209 billion yen in value of shipment, will grow to 2,350 MW or 665 billion yen in value in fiscal 2008.   In its report, “New Energy System Market (PV…

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CHINA: Schneider Electric to form JV with local partner to manufacture and distribute medium voltage

(EnergyAsia, February 23) — Schneider Electric said its main Chinese subsidiary, Schneider Electric China Investment Ltd, has signed an agreement with Shaanxi Baoguang Group to form a new joint venture to manufacture and distribute medium voltage vacuum circuit breakers.   Schneider (Shaanxi) Baoguang Electrical Apparatus Co Ltd (SSBEA) will be incorporated in the city of…

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SINGAPORE: KS Energy report record performance in FY2005, announce bonus shares and dividends

(EnergyAsia, February 22) — Singapore–listed KS Energy Services Limited (KSES) will reward shareholders with a special bonus share issue and dividends after reporting record revenue and net profits for 2005. KSES is an energy services group specialising in equipment and parts distribution as well as capital equipment procurement, refurbishment and charter.   In FY2005, group…

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BANGLADESH: Fuel hikes could hit farming hard

(EnergyAsia, February 22) — News reports on further fuel price hikes have triggered hoarding of diesel and panicked buying of fuels. In turn, the sharp rise in fuel cost has affected farmers who depend on diesel-driven pumps for irrigation, New Nation reported.   The farmers complained of purchasing diesel at a high price of Tk…

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KAZAKHSTAN: Agreement with Japan to develop Mynkuduk uranium deposit

(Energy Asia, February 22) — Kazakhstan’s state-owned company Kazatomprom has announced that it has entered into an agreement with Japan’s Sumitomo Corp and Kansai Electric Power Corp to jointly develop the Mynkuduk uranium deposit in the southern part of the country.   The Japanese partners have agreed to buy out the stock of the Abbak…

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SINGAPORE: ASL Marine secures additional S$24.3 million worth of shipbuilding contracts

(EnergyAsia, February 22) — Singapore-listed ASL Marine Holdings Ltd said its wholly-owned subsidiary, ASL Shipyard Pte Ltd has secured an additional S$24.3 million worth of shipbuilding contracts over the past six weeks. (US$1=S$1.62). ASL Marins is an integrated marine company offering comprehensive services in ship building, repairing and chartering; and owning shipyards in Singapore, Indonesia’s…

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CHINA: Water and energy utilisation to be improved under five-year plan

(EnergyAsia, February 22) — The Chinese government is planning to improve its water and energy use while raising its per capita GDP in the next five years.   The plan calls for Chinese economy to expand by nine percent annually, raising its per capita GDP in 2010 to double the level in 2000, reported the…

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SINGAPORE: SembCorp Marine reports record performance for FY2005

(EnergyAsia, February 22) — Singapore-listed SembCorp Marine said its 2005 net profit rose 29% to a record S$121.4 million. (US$1=S$1.62). Group turnover jumped 55.5% to a record S$2.12 billion, from S$1.36 billion the previous year. The increase was attributable to growth across all business segments, in particular for offshore conversion and rig building.   Group…

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CHINA: Foster Wheeler to supply circulating fluidised-bed boilers to refiner Sinopec

(EnergyAsia, February 22) — Nasdaq-listed engineering firm Foster Wheeler Ltd said that subsidiaries of its Global Power Group have been awarded a contract for two circulating fluidised-bed (CFB) steam generators by the Guangzhou Petroleum Company (GPC), a subsidiary of China Petroleum & Chemical Corporation (Sinopec). The two 120 MW CFB steam generators, valued in excess…

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INDIA: Government speeds up solar water heating projects

(EnergyAsia, February 22) — The Indian government is stepping up the promotion and use of solar water heating systems in the country’s domestic, industrial and commercial sectors.   The Hindu newspaper reported municipalities and corporations will receive support to modify building bylaws for making solar-assisted water heating systems mandatory in certain categories of buildings, said…

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THAILAND: Pressure on refineries to further cut crude imports

(EnergyAsia, February 22) — The Thai government is seeking cooperation from refineries to reduce crude oil imports by 10% this year.   Deputy Prime Minister and Commerce Minister Somkid Jatusripitak and Energy Minister Viset Choopiban have invited representatives of local refineries to discuss their oil import plan for 2006. They are also asking the public…

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AUSTRALIA: Macquarie Bank and US Lansing Grain Co establish joint ethanol marketing company, Lansing

(EnergyAsia, February 22) — US firm Lansing Grain Company and a subsidiary of Australia’s Macquarie Bank Limited (MBL) have jointly established Lansing Ethanol Services LLC (LES) to provide marketing services for ethanol producers and actively trade physical ethanol. The Australian bank iis represented by its indirect wholly owned subsidiary, Macquarie Americas Corp.   Lansing Grain…

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