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...

This article is for Subscriber members only.
Log In Register

CHINA; Titan’s 2006 interim results shows growth continuing, revenue up 82%

(EnergyAsia, August 31) — Hong Kong-listed Titan Petrochemicals Group Limited has announced its interim results for the six months ended June 3. The group reported a 82% rise in revenue to HK$6,472 million and a 13% rise in gross profit over the same period last year to HK$325 million. (US$1=HK$7.78).   Earnings before interest, tax,...

This article is for Subscriber members only.
Log In Register

SAUDI ARABIA: Technip awarded contract for the new Jubail refinery project

(EnergyAsia, August 31) — French engineering firm Technip said it has been awarded a program management services (PMS) contract by Saudi Aramco and its partner Total, for the development of a large grass-roots refinery in Jubail on the east coast of Saudi Arabia. The proposed complex will be one of the largest refineries in the...

This article is for Subscriber members only.
Log In Register

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...

This article is for Subscriber members only.
Log In Register

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...

This article is for Subscriber members only.
Log In Register

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...

This article is for Subscriber members only.
Log In Register

US: Noble Energy, MABE in $68 million facility for ethanol venture

(EnergyAsia, August 31) — US-based Horizon Ethanol Plant LLC, a company controlled by Mid America Bio Energy and Commodity (MABE), has concluded a US$68 million credit facility to support the first phase construction of its 44 million gallons per year ethanol project in Cambridge in Nebraska state.   The arranger of the credit facility is...

This article is for Subscriber members only.
Log In Register

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...

This article is for Subscriber members only.
Log In Register

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...

This article is for Subscriber members only.
Log In Register

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...

This article is for Subscriber members only.
Log In Register

SINGAPORE: Vopak adds more storage capacity in Banyan terminal

(EnergyAsia, August 30) — Dutch oil and chemical logistics firm Royal Vopak said it will expand the capacity of its Banyan terminal on Singapore’s Jurong Island to store biodiesel. Vopak said it will add 105.000 cubic metre of capacity, bringing Banyan’s total storage capacity to 535.000 cbm by end 2007.   Vopak Singapore had just...

This article is for Subscriber members only.
Log In Register

AUSTRALIA: BHP Billiton reports record US$10.2 billion profit for FY2005 on strong commodity prices

(EnergyAsia, August 30) — Australia’s largest resources group BHP Billiton said its FY2005 attributable profit surged 58% to a record US$10.2 billion before exceptional items. Over the last five years, BHP said it has invested US$15 billion on organic growth projects and acquisitions, giving it an average volume increase across its key commodities of approximately...

This article is for Subscriber members only.
Log In Register

AUSTRALIA: Victorians forced to go green

(EnergyAsia, August 30) Ð The Victoria state government of Australia has launched a controversial scheme forcing electricity suppliers to increase their use of environmentally friendly renewable energy by 150% over the next 10 years. The result will be to add A$10 a year to the electricity bill of an average Melbourne family from 2008. (US$1=A$1.33)....

This article is for Subscriber members only.
Log In Register

AUSTRALIA: World’s first mobile biodiesel refinery made in Perth

(EnergyAsia, August 30) — Natural Fuels Australia Limited has built the world’s first “mobile” biodiesel refinery as part of its A$48 million biodiesel facility in the northern Australian port city of Darwin. The mobile unit was fabricated and assembled as a stand-alone ‘module’ by the Ausclad group of companies, using the common user facility at...

This article is for Subscriber members only.
Log In Register

MALAYSIA: Solar-powered homes being built in Putrajaya

(EnergyAsia, August 30) — By early 2007, up to 19 new solar-powered houses will be built in Precinct 16 in the Malaysia capital city of Putrajaya. The houses will use the latest building-integrated photovoltaic or BIPV technology.             Senandung Budiman Sdn Bhd (SBSB), a subsidiary of Putra Perdana Development Sdn Bhd (PPD), will be developing...

This article is for Subscriber members only.
Log In Register

CHINA: PetroChina breaks groundbreaking for Tarim chemical fertiliser project

(EnergyAsia, August 30) — PetroChina Company Limited said it has broken ground for a Tarim chemical fertiliser production project.   The plant has the capacity to produce 450,000 tons of synthetic ammonia and 800,000 tons of urea per annum, and 1,500 tons of synthetic ammonia and 2,640 tons of melt urea a day, making it...

This article is for Subscriber members only.
Log In Register

CHINA: Suntech Power to establish manufacturing and R&D facilities in Shanghai

(EnergyAsia, August 30) — New York-listed Suntech Power Holdings Co Ltd, one of the world’s leading manufacturers of photovoltaic (PV) cells, recently announced that it will establish manufacturing and R&D facilities in Caohejing Hi-tech Park in Shanghai, China. The facilities are expected to begin operations in early 2008.   “Our new facilities in Caohejing Hi-tech...

This article is for Subscriber members only.
Log In Register

NEW ZEALAND: Contact Energy says ‘flexible generation’ helps deliver secure supply, 14% increase

(EnergyAsia, August 30) — The flexibility of Contact Energy’s natural gas-fired power stations helped ensure a secure supply of electricity to New Zealand during an exceptionally dry year, and delivered a solid annual result for the company.   Contact CEO, David Baldwin, said the company’s gas-fired plant was able to increase generation by 41% to...

This article is for Subscriber members only.
Log In Register

SAUDI ARABIA: Aramco, Total wrap up details to build oil refinery

(EnergyAsia, August 30) — Two months after signing a Memorandum of Understanding to develop the Jubail oil-exporting refinery, Saudi Aramco and France’s Total have signed the engineering contract for the project to proceed.   “I would like to extend my thanks to the contracting and finance departments, which have done a marvelous job,” said project...

This article is for Subscriber members only.
Log In Register

SINGAPORE: Chemoil IPO expected to be a success

(EnergyAsia, August 30) — US marine fuel giant Chemoil Corporation expects to launch an initial public offer of its shares in Singapore this year, with the aim of raising as much as US$500 million. JPMorgan, Morgan Stanley and UBS are lead managers for the offer. Chemoil has physical operations in the largest bunkering ports in...

This article is for Subscriber members only.
Log In Register

CHINA: Shenhua’s Erdo CTL project making progress

(EnergyAsia, August 28) — The construction of Shenhua Group’s 12.3 billion yuan coal-to-liquids (CTL) project in China’s Inner Mongolian autonomous region is entering its final phase with production expected to start as early as 2008. (US$1=7.96 yuan).   The direct coal liquefying project at Erdos city is the world’s first. It will use the region’s...

This article is for Subscriber members only.
Log In Register

PHILIPPINES: IFC to support biofuels’ development

(EnergyAsia, August 29) — The International Finance Corporation, the private sector arm of the World Bank Group, has announced plans to fund research into the development of renewable energy and biofuels in the Philippines. The study will be coordinated by IFC’s technical assistance facility, the Private Enterprise Partnership for the Philippines, which is currently accepting...

This article is for Subscriber members only.
Log In Register

INDIA: Maharashtra state Chief Minister wants greater use of renewable energy

(EnergyAsia, August 29) — The Indian state of Maharashtra will be using solar energy to heat water in all government buildings to help overcome a persistent shortage of electricity.   Chief Minister Vilasrao Deshmukh announced the state government will begin to install solar energy equipments to provide hot water in government buildings such as hospitals,...

This article is for Subscriber members only.
Log In Register

INDIA: Government rejects ONGC’s proposal to form JV with UK’s BG to explore deep-sea blocks

(EnergyAsia, August 29) — The Indian government has rejected upstream company ONGC’s proposal to form a joint venture with UK’s BG to explore for oil and gas in three deep-sea blocks. Instead, the government has decided to offer the blocks afresh in the next round of tender under NELP.             “It has been decided to...

This article is for Subscriber members only.
Log In Register

DUBAI: Dubai Mercantile Exchange to embark on world education road show

(EnergyAsia, August 29) — The Dubai Mercantile Exchange Limited (DME), the Middle East’s first energy futures exchange, said it is embarking on an international education roadshow comprising free seminars aimed to build awareness of the DME and educating the global energy and trading community on key aspects of the exchange and how it will operate....

This article is for Subscriber members only.
Log In Register