(EnergyAsia, August 29) — The Indian government is planning three new oil storage tanks in the coastal districts between the western port towns of Goa and Mangalore. One site has been chosen in Dakshina Kannada district. The choice of another site in Udupi district is subject to soil condition while a third site being...
(EnergyAsia, August 29) Ð The Indonesian government has said it plans to build eight biodiesel plants, each with a production capacity of 3,000-6,000 tons per year. The push for greater use of renewable energy sources comes amid soaring oil prices. Industry Minister Fahmi Idris said private companies will be invited to construct the plants,...
(EnergyAsia, August 29) — Germany’s BASF, Huntsman of the US and their Chinese partners Ð Shanghai Hua Yi (Group Company), Sinopec Shanghai Gao Qiao Petrochemical Corporation and Shanghai Chloro-Alkali Chemical Co Ltd Ð recently held an opening ceremony at the Shanghai Chemical Industry Park to celebrate the start-up of their integrated isocyanates complex. The project...
(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...
(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....
(EnergyAsia, August 28) — Malaysia has announced plans to build two biofuels parks in the states of Johor and Pahang. The 485-hectare Johor park in the 1,618-hectare Tanjung Langsat Industrial Complex will be the largest in Asia, equipped with its own dedicated port and storage facilities. Located near the Pasir Gudang Industrial Park, it...
(EnergyAsia, August 28) — The following commentary was written by Antoine Halff, energy analyst at US commodities company FIMAT. “BP jolted oil markets and sent crude benchmarks to closer to $80 oil on August 7 by announcing the temporary shutdown of Alaska’s 400,000 bpd Prudhoe Bay field, the largest in the US, due to...
(EnergyAsia, August 28) — The Indian government is planning to issue oil bonds to raise up to Rs280 billion to compensate oil marketing firms for selling fuels to domestic consumers at subsidised prices. Fearing social unrest, the government has refused to let the oil companies raise their retail prices for gasoline, kerosene, diesel ands liquefied...
(EnergyAsia, August 28) — Malaysia’s Scomi Group Bhd said it recently secured two major two-year service contracts from BP in Indonesia and OGDCL in Pakistan worth a total of more than RM43 million. (US$1=RM3.67). Scomi will provide drilling waste management services for BP’s operation in Tangguh Indonesia and drilling liquids to OGDCL in Pakistan. ...
(EnergyAsia, August 28) — Singapore’s Advanced Holdings Ltd, a designer and provider of specialised process equipment for oil, gas, petrochemicals and other industrial customers worldwide, said it has obtained approval from Malaysia’s Ministry of International Trade and Industry (MITI) to develop a biodiesel plant in Kuantan town in Pahang state. The company said its...
(EnergyAsia, August 28) — Esso Malaysia Berhad, a subsidiary of the US energy major, said it earned an after tax profit of RM93 million for the second quarter compared to M15 million in the same quarter last year. The improved financial performance brings profits for the first half of 2006 to RM85 million, RM54 million higher...
(EnergyAsia, August 28) — The diesel shortage in Bangladesh’s 16 northern districts is expected to intensify after the main depots in Baghabari ran dry of supply despite a week of rationing. Local officials said increased demand for irrigation and smuggling across to India have drained the region’s diesel supply. Rationing from the depots belonging...
(EnergyAsia, August 28) — The World Bank Group (WBG) said it committed US$680 million to New-Renewable Energy (New RE) and Energy Efficiency (EE) projects in fiscal 2006, an increase of 48% over the previous year. The latest amount is more than double the annual growth rate the WBG said it would commit to achieve two...
(EnergyAsia, August 28) — At least seven people were killed and hundreds injured in the Bangladeshi city of Dhaka on Saturday when police fired upon a crowd protesting against a coal mine project. The protestors comprising farmers and villagers were then marching towards the office of Asia Energy Corporation (Bangladesh) Pvt Ltd to demand better...
Play Video (EnergyAsia, August 28) — Mitsui Chemicals Inc, one of the world’s leading chemical companies, has announced it is setting up its first overseas petrochemical R&D centre in Singapore. The facility will be housed at the Institute of Chemical & Engineering Sciences (ICES), a research institute of Agency for Science, Technology and Research (A*STAR),...
(EnergyAsia, August 25) — BP said it has been awarded three offshore blocks in Pakistan’s offshore Indus Delta. BP said it will explore blocks U, V and W covering an area of 21,000 km2 for oil and gas reserves, with the right to operate any commercially viable discoveries. “The offshore Indus Delta is a...
(EnergyAsia, August 25) — India’s leading ethanol and biofuels plant builder Praj Industries has announced a Rs390 million expansion programme to meet with growing demand for its services. The company is looking to build new manufacturing bases in the towns of Navi Mumbai and Gujarat. Chairman and managing director Pramod Chaudhari said the new...
(EnergyAsia, August 25) — Shell Refining Company Berhad said its after-tax net income for the second quarter rose to RM146 million compared with RM82 million for the second quarter of 2005. The company said the 77% increase in net income was primarily due to higher sales volume achieved in the second quarter of 2006...
(EnergyAsia, August 25) — The Higher Corporation for Specialised Economic Zones, or ZonesCorp, is building a Dh4 billion special economic zone for the oil and gas industry in Abu Dhabi, the UAE by end-2007. (US$1=Dh3.6). The developers will aim to attract international companies to set up their regional offices at the Oil & Gas City....
(EnergyAsia, August 25) — PetroChina Company Limited said it recorded a net profit of RMB80.68 billion for the six months ended 30 June 2006, representing an increase of 29.4% from the same period of last year. Earnings per share reached RMB0.45, which was approximately RMB0.10 higher than the previous year. (US$1=RMB7.95). During the first...
(EnergyAsia, August 25) — Report by the US Energy Information Administration for the weekly oil markets ended August 23. “The realisation that summer is just about over is hard to ignore. For US petroleum product markets, that means a shift in focus from gasoline to heating oil and diesel fuel. With most of August behind...
(EnergyAsia, August 25) — Dubai Gold and Commodities Exchange (DGCX) and the Tokyo Commodity Exchange (TOCOM) have signed a Memorandum of Understanding (MoU) to cooperate and share information to help develop each other’s business. The agreement states that the exchanges will look at collaborating to improve market liquidity, products and efficiency. Officials on both...
(EnergyAsia, August 25) — The Asian Development Bank (ADB) has announced that it will conduct a study into its energy policy, to promote greater use of clean energy in the region and boost its energy security. Backed by a US$ 1 million technica assistance grant, the study will address a broad range of growing challenges...
(EnergyAsia, August 25) — Carotino Sdn Bhd and the Malaysian Palm Oil Board (MPOB) are planning to establish a joint venture to build Asia’s fourth largest palm oil-based biodiesel plant in Pasir Gudang in the southern Malaysian state of Johor. The 120,000 tonnes a year plant will cost at least RM80 million. Wilmar Asia,...
(EnergyAsia, August 25) — Australian upstream company Santos has reported a set of record first half results including production, revenue, profit and cash flow. Net profit after tax rose 28% to a record A$370 million while revenue surged 29% to A$1.3 billion. (US$1=A$1.35). The higher profit was achieved on record first half production of...