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 (more…)

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 (more…)

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 (more…)

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 (more…)

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 (more…)

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 (more…)

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 (more…)

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 (more…)

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. (more…)

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). (more…)

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 (more…)

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 (more…)

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 (more…)

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 (more…)

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 (more…)

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 (more…)

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 (more…)

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 (more…)

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 (more…)

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 (more…)

VIETNAM: Australia’s Santos announced further oil and gas discovery in Dua structure

(EnergyAsia, September 27) — Australian upstream company Santos said that the Dua-5X RE well in offshore Vietnam has been found to intersect with multiple gas and oil reservoirs in the southern fault block of the Dua structure. The well was drilled on Block 12E by operator Premier Oil of the UK.   Santos said the (more…)

ASIA: Clean Diesel Technologies signs regional distribution agreement with Energenics Pte Ltd

(EnergyAsia, September 27) — US-based Clean Diesel Technologies Inc, a developer of technological solutions to reduce harmful engine emissions, said it has signed a distribution agreement with Energenics Pte Limited for the Asia Pacific region. The agreement covers the distribution of Clean Diesel’s Platinum Plus(R) fuel borne catalyst (FBC) and diesel particulate filters based on (more…)

ASIA: Foster Wheeler signs licence agreement for circulating fluidised-bed steam generator technolog

(EnergyAsia, September 27) — Foster Wheeler Ltd said subsidiary Foster Wheeler North America Corp has entered into a 15-year agreement with Korea’s Doosan Heavy Industries & Construction Co Ltd to provide a technology license for subcritical pressure circulating fluidised-bed (CFB) steam generator projects in Korea, the Indian subcontinent and other regions. The agreement also provides (more…)

AUSTRALIA: US engineering firm CB&I wins award for North West Shelf LNG expansion project

(EnergyAsia, September 27) — US engineering firm CB&I said it has been awarded a contract valued worth more than US$200 million by Woodside Energy Ltd., operator of the North West Shelf Venture onshore gas plant near Karratha, Western Australia. CB&I will be the mechanical erection contractor for construction of a fifth liquefied natural gas (LNG) (more…)

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 (more…)