Archive | September, 2006

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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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. […]

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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). […]

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