Archive | August, 2006

AUSTRALIA: AGL Board recommends shareholders vote for merger with Alinta

          (EnergyAsia, August 31) — The Australian Gas Light Company (AGL) has recommended that shareholders vote in favour of the proposal to merge its infrastructure business with Alinta Limited and subsequently demerge the AGL energy business. The proposal will create Australia’s leading integrated energy company, to be referred to as new AGL, and Australia’s largest […]

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AUSTRALIA: Alstom says Braemar Power Station completed on time to meet peak summer demand

(EnergyAsia, August 31) — Alstom said it has completed the design, supply, construction and commissioning of the Braemar power station in Australia on behalf of its client, independent power producer NewGen Power, a specialist gas-fired power generation company owned by ERM Power and Babcock & Brown, within 15 months.   The modern 450MW gas-fired power […]

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MARKET: FIMAT asks if oil rally is running out of steam

(EnergyAsia, August 31) — A retreat in oil prices to their lowest level since June reflects both seasonal, short-terms factors and market perceptions of underlying, fundamental trends, said US commodities trader FIMAT. On the one hand, the winding down of the driving season means gasoline demand pressures are temporarily easing, even as seemingly high East […]

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SINGAPORE: ASL Marine’s full year earnings jumped 70% to S$23million

(EnergyAsia, August 31) — Singapore-listed ASL Marine Holdings has reported a 70% rise in full-year net profit to S$23.1 million, while revenue rose 42% to S$197.7 million. (US$1=S$1.57). The company said it benefited from higher-value shipbuilding projects, more and bigger repair jobs, higher chartering margins and the rise in charter rates for tugs and barges for […]

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AUSTRALIA: Pipeline trust announces cash takeover offer for GasNet Australia

(EnergyAsia, August 31) — Australian Pipeline Trust (APA) has announced its intention to make a cash offer to acquire all the stapled securities in GasNet Australia Group (GAS) for A$3.10 per GAS stapled security. This offer values the stapled securities in GAS at approximately A$452 million. (US$1=A$1.33).             APA’s offer is at a 7.6% premium […]

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QATAR: Invensys awarded multimillion dollar automation contract for grassroots Laffan refinery proje

(EnergyAsia, August 31) — GSEC of South Korea, has awarded Invensys Process Systems a multimillion dollar automation contract to provide an integrated process control, safety, asset management and plant information system solution for the grassroots Laffan condensate refinery under construction at the Ras Laffan City in Qatar. GSEC is the engineering procurement contractor for the […]

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THAILAND: PTTEP announced drilling result for exploration well Zatila-1 off Myanmar

(EnergyAsia, August 31) — Thai upstream company PTTEP has reported progress in its drilling of exploration well, Zatila-1, located in one of the structures in Myanmar’s M9 offshore block. The well was drilled to a depth of 2,912 meters subsea and revealed several petroleum baring formations. Flow rate tests were conducted at intervals. The company […]

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