SINGAPORE: China Aviation Oil complete restructuring plan

(EnergyAsia, March 29) — China Aviation Oil (Singapore) Corporation Ltd has completed its recovery from near collapse in 2004 when it announced the completion of its restructuring plan yesterday and resumption of trade in its shares on the Singapore stock exchange today.   The company was brought down to its knees by a massive US$550...

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INDIA: SREI offers solar-powered water heaters

(EnergyAsia, March 29) — Kolkata-based SREI Infrastructure Finance is offering to help Indian households buy solar-powered water heating systems to reduce their electricity bills. The photovoltaic heating systems will be made by Tata BP Solar and Merloni Termo Sanitari.   SREI said it will place large orders with the manufacturers to gain savings, enabling it,...

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PHILIPPINES: Chevron to upgrade storage tanks, expand retail outlets

(EnergyAsia, March 29) — Chevron Philippines, a unit of the US oil major, said it has set aside more than P375 million to upgrade its underground storage tanks, launch its new grade of gasoline and expand its retail outlets this year. (US$1=P52).   In a statement, country chairman Randy Johnson said it plans to build...

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INDONESIA: Algeria’s state oil company looking into building fuel storage tanks

(EnergyAsia, March 29) — Algeria’s state oil company, Sonatrach, is looking to invest US$100 million to build crude oil and products storage tanks in Indonesia, said a local official.   Indonesian Presidential special envoy for Middle East Alwi Shihab told Antara news agency that Sonotrach is also interested to rent the liquefied petroleum gas (LPG)...

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INDIA: New Delhi could take over management of strategic oil reserves from Indian Oil Corp

(EnergyAsia, March 29) — The Indian government is trying to reclaim the right to manage the country’s proposed strategic crude oil reserves from state-owned Indian Oil Corp (IOC). The government has created the Oil Industry Development Board (OIDB) to take over the Indian Strategic Petroleum Reserves Ltd (ISPRL), a special purpose vehicle company created by...

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INDIA: New Delhi eyes revamp of fuel subsidies

(EnergyAsia, March 28) — Indian state planners are looking to impose a new fee on the country’s state oil companies in yet another attempt to revamp the domestic fuel subsidies system.             Under the plans, an Rs3000/tonne of crude charge would be imposed on the oil producers, with the money to be pooled to fund...

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CHINA: SAIC unveils clean vehicles programme

(EnergyAsia, March 28) — Shanghai Automotive Industry Corp (SAIC), China’s second biggest vehicle maker, said it is developing a clean fuel-cell bus.             SAIC is undertaking the project with General Motors (GM) and Volkswagen. The partners hope to put out the first 100 buses in 2008.   But SAIC is also looking to employ clean-fuels...

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CHINA: Rising fuel cost hurting Eastern Airlines

(EnergyAsia, March 28) — China Eastern Airlines, the country’s third largest airline, is battling rising fuel costs as it aims to stay profitable this year.   The airline will reduce customer discounts, and may hike some airfares while introducing surcharges to offset higher fuel costs, it said. The company also plans to boost its jet...

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MARKETS: Consutlant ESAI predicts WTI-Brent to widen

(EnergyAsia, March 28) — The spread between WTI and Brent has come down considerably since its peak near $3.75 per barrel in October.   However, US energy consultant ESAI said in the latest issue of its Global Crude Oil Outlook that the spread is set to widen with the upcoming US driving season.   “In...

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KOREA: Energy trade soared in 2005

(EnergyAsia, March 28) — The value of Korea’s energy imports jumped by more than a third to US$66.7 billion last year, said state oil and gas company KNOC. Energy imports accounted for 25.5% of the country’s total import value of US$261.2 billion last year, compared with 21.4% in 2003. The volume of import was up...

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INDONESIA: Holman Fenwick & Willan advised on takeover of Indonesia’s coal mining stakes

(EnergyAsia, March 28) — The Singapore office of law firm of Holman Fenwick & Willan said it acted for Indonesia’s largest listed mining group Bumi Resources in the US$3.2 billion sale of two coal mines to an international investor group, the nation’s second-largest takeover deal.   Bumi Resources, controlled by the Bakrie family agreed to...

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COMPANY: D1 Oils produce first jatropha biodiesel

(EnergyAsia, March 28) — D1 Oils plc, the UK-based global producer of biodiesel from renewable energy crops, said it has processed the first 20 tonnes of biodiesel from jatropha oil using its proprietary D1 20 refinery. The crude jatropha oil, sourced by D1 from China, was refined by the D1 20 refinery using continuous 24×7...

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CHINA: Shanghai Futures Exchange fuel oil prices added to OILwatch site

(EnergyAsia, March 28) — OILspace, a leading provider of real-time energy supply chain management and market information applications, said OILwatch Ð its online energy portal, now carries fuel oil futures by the Shanghai Futures Exchange (SHFE). OILspace is one of only a few vendors approved to deliver Shanghai Futures prices.             Used by energy traders,...

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AUSTRALIA: Austraian Ethanol Limited raised US$12.45 million in share placement, to proceed with eth

(EnergyAsia, March 28) — Australian Ethanol Limited said it has raised A$12.45 million by a placement of ordinary shares to institutional investors. (US$1=A$1.37). The funds will be used mostly for completing the first stage of construction of the Swan Hill ethanol project in northwestern Victoria state and also to develop the Beatrice biodiesel project south...

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SRI LANKA: Lanka IOC posts loss; builds new lubricants plant

(EnergyAsia, March 28) — Lanka IOC, a unit of Indian Oil Corp (IOC), has reported a US$72 million loss for the three months ended December 2005.   The company said it has not been paid for deliveries of fuel at state-controlled prices. It said it is making attempts to recover the funds, much of it...

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TAIWAN: Solar power companies to set up alliance to ensure supply of polysilicon

(EnergyAsia, March 27) — Taiwan’s state think tank, the Institute for Information Industry (III), plans to help local solar power companies set up an alliance to deal with growing shortage of polysilicon.   The proposed alliance, TWSiCon, will aim to establish the country’s first polysilicon plant through technology transfers from abroad. The plant could cost...

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KOREA: Plan to achieve 10% energy sufficiency by 2010 looks unrealistic

(EnergyAsia, March 27) — Korea needs to more aggressively seek out new energy sources or risk losing out to countries such as China and India, said local analysts.   According to the Joong Ang Daily, Korean companies landed only three of the 1,773 exploration and production contracts that were awarded around the world last year....

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AUSTRALIA: Uranium exploration and companies continue to lift off

(EnergyAsia, March 27) — Australia’s latest hot stocks are in the uranium exploration busines Ð Toro Energy and Encounter Resources.   Adelaide-based Toro Energy debuted on the Australian Stock Exchange last week, with its share price closing 80.5 Australian cents for a 222% gain. (US$1=A$1.37).   Interest in uranium is growing around the world owing...

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AUSTRALIA: Dye-based window tint that generates solar energy

(EnergyAsia, March 27) — Australian solar-power company Dyesol has launched a solar energy generating dye-based window tint at a recent conference in Canberra.             Managing director Sylvia Tulloch said the stock price of the listed company has soared this year on growing international interest in the product.   Shed told the Sunday Times that Dyesol...

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CHINA: Beijing toughens laws to boost energy savings, renewables

(EnergyAsia, March 27) — China”s construction ministry has put up legislative proposals to improve energy efficiency in buildings and boost the use of renewable energy sources, Xinhua news agency reported.             The proposals, which apply to both home and office buildings, encompass everything from window design specifications and energy recycling to the use of solar...

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CHINA: LPG price up in Hong Kong

(EnergyAsia, March 27) — Hong Kong has raised the price of automotive liquefied petroleum gas (LPG) to reflect higher prices on the world markets.             Prices have been raised by HK 64 cents/litre to between HK$3.41 and HK$3.79, depending on the grades. (US$1=HK$7.78).             Hong Kong’s pricing formula for LPG is linked to the international...

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INDONESIA: Bumi Resources exits coal business, eyes role in biofuels

(EnergyAsia, March 27) — PT Bumi Resources has relinquished its title as Indonesia’s largest coal producer after agreeing to sell off 95% of its shares in three coal mining companies to a consortium of local companies for US$3.2 billion. The Jakarta Stock Exchange-listed company is looking to diversify into oil, natural gas, minerals and biofuels,...

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CHINA: Political problems feared despite small rise in domestic fuel prices

(EnergyAsia, March 27) — Bowing to the inevitable, China raised retail gasoline and diesel prices by 3% to 5% yesterday to reflect higher prices on the world market. But there had been a lot of hand wringing accompanying the decision as the government fears the rise will fuel inflation and stir popular discontent.             The...

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BANGLADESH: Asia Energy plans to sell shares to develop Phulbari coal, power projects

(EnergyAsia, March 27) — Asia Energy Corporation (Bangladesh) Pty Ltd, a unit of the UK-based company, is looking to sell shares to raise around Tk700 million towards developing the Phulbari coalmine project and a 500 mega-watt (MW) coal-fired power plant in Bangladesh. (US$1=70).   According to local media, the company has signed a letter of...

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TAIWAN: Sino-American Silicon Products claims technology for producing high-power wafers

(EnergyAsia, March 27) — Taiwan’s solar cell maker Sino-American Silicon Products (SAS) said it has developed the technology for high-power wafers used in making electronic devices. The company plans to start production in the third quarter with an initial monthly capacity of 5,000 wafers.   With the backing of the Ministry of Economic Affairs (MOEA),...

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