INDIA: Oil India may buy 25% stake in HPCL’s Bathinda oil refinery

(EnergyAsia, September 29) — Oil India Limited (OIL) is considering buying a 25% stake in Hindustan Petroleum Company Limited (HPCL)’s proposed nine-million-tonne/year refinery in Bathinda in Punjab state. The 25% stake will cost Rs15 billion. (US$1=Rs46).   The project which includes a 1,011-km crude oil pipeline has been delayed for years by lack of investor...

This article is for Subscriber members only.
Log In Register

SINGAPORE: Marine fuels trader Chemoil aims to raise US$356 million through public listing

(EnergyAsia, September 29) — Marine fuels supplier and oil trader Chemoil Energy aims to raise US$356 million in net proceeds by selling 439.5 million shares at up to US$0.85 each in Singapore. Its shares are expected to start trading on October 9. Chemoil, a trader in marine fuels in Singapore, also supplies jet fuel, gasoline...

This article is for Subscriber members only.
Log In Register

CHINA: Hainan oil refinery supplied first oil products cargo

(EnergyAsia, September 29) — State-owned Sinopec said its eight-million-tonne-per-year Hainan oil refinery has started operations and supplied its first diesel cargo to the Huangpu Port in Guangzhou province. It is the first time that the southern Chinese island province of Hainan has exported oil products to other provinces, reported the China National Petroleum Corporation (CNPC)....

This article is for Subscriber members only.
Log In Register

COMPANY: US pension fund giant to target oil depots, storage tanks for future investment

(EnergyAsia, September 29) — The California Public Employees’ Retirement System (Calpers), the largest US public pension fund, has identified oil depots, storage tanks, pipelines and infrastructure projects as targets for future investments. Calpers said early this month it plans to make room in its US$208 billion portfolio for energy infrastructure projects that promise greater returns....

This article is for Subscriber members only.
Log In Register

JAPAN: US military to hand over land, oil storage tank to Okinawa Prefecture

(EnergyAsia, September 29) — The US military will hand over five facilities including an oil storage tank as part of its return of 895 hectares of land to Japan’s Okinawa prefectural government. The Kuwae Tank Farm No. 1 oil storage is located on a 16-hectare site in Chatancho town.             The other facilities include the...

This article is for Subscriber members only.
Log In Register

PAKISTAN: China to help develop two large oil storage facilities in Gwadar port

(EnergyAsia, September 29) — China hopes to help develop Pakistan’s Gwadar port along the lines of its huge successful Shenzhen port in southern Guangdong province over the next five years. The projects could include oil refineries, petrochemical plants and at least two large oil storage tanks, said Pakistani officials.             The governments of both countries...

This article is for Subscriber members only.
Log In Register

CHINA: Port investor PYI to double LPG capacity at Wuhan storage terminal

(EnergyAsia, September 29) — Chinese port investor PYI Corporation plans to double the handling capacity at its newly acquired liquefied petroleum terminal (LPG) terminal at Wuhan port on the Yangtze River by 2009. The company expects to invest HK$200 million expanding the facility which it bought for HK$470 million in cash and convertible notes early...

This article is for Subscriber members only.
Log In Register

INDIA: Crude oil arrives, countdown begins for Essar oil refinery

(EnergyAsia, September 29) — Essar Oil Limited’s refinery is expected to begin operation soon following the arrival of a crude oil cargo at the Kandla Port Trust’s offshore oil terminal (OOT) at Vadinar in Gujarat state’s Jamnagar district in India. Another crude cargo is due to arrive early next month to be refined at Essar’s...

This article is for Subscriber members only.
Log In Register

INDONESIA: Shortage of funds hampering Pertamina’s plans to build oil storage tanks

(EnergyAsia, September 29) — Forget about oil refineries. Indonesia’s state oil company Pertamina may not be able to even find the funds to invest in oil storage tanks and retail outlets to supply fuels across the country.             Over the next four years, the company needs to build tanks with the capacity to store and...

This article is for Subscriber members only.
Log In Register

OMAN: Second oil refinery planned after completion of Sohar plant

(EnergyAsia, September 29) — Oman is looking to build a second oil refinery after completing the construction of its first refinery in Sohar at a cost of US$1.2 billion plant. The 116,000 barrels per day refinery is owned and operated by state Sohar Refinery Co, an 80/20 joint-venture firm between the Omani government and the...

This article is for Subscriber members only.
Log In Register

MARKETS: Fimat sees rebound in US refining margins

(EnergyAsia, September 28) — Commodities trader Fimat sees US refining margins rebounding after weeks of high refining throughput and product inventory buildup. US refiners recently indulged in a bout of high runs and are paying the price for it: refining margins have nosedived even more than crude prices. Robust throughputs caused product inventories to swell...

This article is for Subscriber members only.
Log In Register

MARKETS: NGOs say World Bank energy framework fails climate challenge, poor people

(EnergyAsia, September 28) — Several non-government organizations (NGOs) said the World Bank has failed to meet its promise to support the development of alternative energy sources. In a special report, several environment and development organizations said the World Bank’s new Investment Framework on Clean Energy and Development will not be effective at combating climate change...

This article is for Subscriber members only.
Log In Register

INDIA: Government to review pricing as RIL puts retail expansion on hold

(EnergyAsia, September 12) — India’s Petroleum Ministry has promised to review retail oil product prices and may also grant oil firms more pricing autonomy. The industry is reeling from record losses as they are being forced to sell oil products at below market.   Aside from transportation fuels, state planners are also expected to hike...

This article is for Subscriber members only.
Log In Register

AUSTRALIA: Court orders ASX-listed Green Pacific Energy Limited to be wound up

(EnergyAsia, September 28) — The Federal Court of Australia in Brisbane has ordered ASX-listed company Green Pacific Energy Limited (GPE), and its subsidiary Green Pacific Energy Capital Pty Ltd, to be wound up following an application made by the Australian Securities and Investments Commission (ASIC). ASIC sought to wind up Sydney-based GPE on the grounds...

This article is for Subscriber members only.
Log In Register

KOREA: Westinghouse signs new nuclear plant contracts to provide equipment and technology

(EnergyAsia, September 28) — Westinghouse Electric Company said it has signed contracts worth more than $300 million to provide components, instrumentation and control equipment, man-machine interface systems, and technical and engineering support services for two new nuclear power plants to be built in South Korea.   The contracts were signed with DOOSAN Heavy Industries and...

This article is for Subscriber members only.
Log In Register

INDIA: Foreign investment in Hindustan Petroleum Corporation Ltd (HPCL) made easier

(EnergyAsia, September 28) — The Reserve Bank of India said foreign institutions will be allowed to buy shares in downstream oil company Hindustan Petroleum Corporation Ltd (HPCL) in the open market without the need for official approval.             The bank said the move was effective from September 21 as the foreign shareholding in HPCL had...

This article is for Subscriber members only.
Log In Register

CHINA: Shell acquires majority share in leading independent lubricants company

(EnergyAsia, September 28) — Shell China Holdings BV said it has acquired a 75% share in Beijing Tongyi Petroleum Chemical Company Limited and Xianyang Tongyi Petroleum Chemical Company Limited, which produce and market China’s leading independent lubricant brand. The transaction makes Shell the leading international energy company marketing lubricants China and gives it the third largest...

This article is for Subscriber members only.
Log In Register

Climate Change: Wind council, Greenpeace says wind power key to fight global warming

(EnergyAsia, September 28) — One third of the world’s electricity can be supplied by wind, in the process saving 113 billion tonnes of CO2 emissions by 2050, said the Global Wind Energy Council (GWEC).             In its Global Wind Energy Outlook 2006′ report, jointly produced with Greenpeace International, the GWEC examines the future potential for...

This article is for Subscriber members only.
Log In Register

AUSTRALIA: GE to address water, energy challenges

(EnergyAsia, September 28) — General Electric Company (GE) has launched its global clean energy and water initiative – called ecomagination Ð to serve the Australia market. John Rice, GE vice chairman and President & CEO of GE Infrastructure, met with government and business leaders to address Australia’s unique challenges in securing adequate energy and water...

This article is for Subscriber members only.
Log In Register

AUSTRALIA: AGL expands hydro power generation portfolio

(EnergyAsia, September 28) — The Australian Gas Light Company (AGL) has announced plans to build the country’s largest hydroelectric power plant in 25 years to provide additional peaking electricity generation capacity for Victoria state and to increase the amount of zero emission electricity produced by AGL’s power generation assets.   AGL said it will construct...

This article is for Subscriber members only.
Log In Register

SINGAPORE: Spanish bank BBVA opens regional project finance centre for Asia, aims for growth in oil,

(EnergyAsia, September 27) — Spanish bank BBVA has launched its Asia Pacific regional office in Singapore to tap opportunities for project finance.   “Any global corporation requires a strong presence in Asia because it is the continent of the 21st century. At BBVA, we believe Asia offers excellent growth opportunities,” said chairman Francisco Gonz‡lez during the...

This article is for Subscriber members only.
Log In Register

KOREA: KNOC reports on refiners’ performance

(EnergyAsia, September 27) — Korea’s five refiners have reported a 3.9% drop in the domestic sale of oil products in the first half of the year compared with the same period last year. They blamed the decline on high oil prices and consumers’ shift to using cheaper and cleaner energy resources such as LNG and...

This article is for Subscriber members only.
Log In Register

KOREA: Overview of oil supply and demand in August

(EnergyAsia, September 27) — Korea’s August crude oil imports rose by 15.1% year-on-year and 8.8% month-on-month to 78.693 million barrels, thanks to a sharp rise in its export of oil products, said the Korea National Oil Corp. The average unit price of crude oil imports (on the basis of CIF) by Korea was up by...

This article is for Subscriber members only.
Log In Register

COMPANY: BASF Venture Capital invests in new energy generation technology

(EnergyAsia, September 27) — BASF Venture Capital America Inc of Fremont, California is investing $3 million in LUCA Technologies LLC, Golden, Colorado to develop biotechnology that uses microorganisms to reactivate or intensify the production of methane (natural gas) from finite fuels such as coal or oil. BASF Venture Capital America is a unit of the...

This article is for Subscriber members only.
Log In Register

CHINA: ADB to provide loans of up to $3 billion for agriculture, energy efficiency

(EnergyAsia, September 27) — The Asian Development Bank (ADB) said it plans to lend an average US$1.5 billion per year to China over the next two years that “will be spread more evenly across different sectors.”   ADB said it will maintain its focus on projects for the poorer central and western provinces. But the...

This article is for Subscriber members only.
Log In Register