(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...
(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...
(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...
(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...
(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)...
(EnergyAsia, September 26) — Energy Investments Australia Pty Ltd (Shell) and Anglo American plc have signed an agreement to jointly develop the Monash Energy clean coal-to-liquids (CTL) project in Australia’s Victoria state. The agreement is the first under a clean coal energy alliance formed by Shell and Anglo American in May 2006. The agreement...
(EnergyAsia, September 26) — Germany’s chemical giant BASF said it has been again listed in the Climate Leadership Index and Dow Jones Sustainability Index. The prestigious Climate Leadership Index of companies addresses the challenges of climate change and reducing greenhouse gases. The index is produced by the Carbon Disclosure Project (CDP), an international coalition...
(EnergyAsia, September 26) — China did not play any part in a decision by the Chad government to expel US oil major Chevron and Malaysia’s Petronas, the People’s Daily reported. Chad has engaged in frequent disputes with western companies over oil profits even before the country resumed diplomatic ties with China, analysts were quoted...
(EnergyAsia, September 26) — Foster Wheeler Ltd said that its Paris-based subsidiary Foster Wheeler France SA has been awarded the front-end engineering design (FEED) by CJSC Nizhnekamsk Refinery for a new complex of refining and petrochemical plants to be constructed in Nizhnekamsk, in Tatarstan in the Russian Federation. This award has been made within...
(EnergyAsia, September 26) — Two Singapore-listed companies Sinwa Limited and KS Energy Services Ltd have announced the establishment of an equal joint venture to build a self-propelled offshore jack-up barge rig and to charter it to a Central American-based national oil company for use in the Gulf of Mexico. Sinwa is the largest marine supply...
(EnergyAsia, September 26) — Over a third of the world’s electricity Ð crucially including that required by industry Ð can realistically be supplied by wind energy by the middle of the century, according to a new report. The ‘Global Wind Energy Outlook 2006’ report, issued by the Global Wind Energy Council (GWEC) and Greenpeace...
(EnergyAsia, September 26) — Mangalore Refinery and Petrochemicals Ltd (MRPL), a subsidiary of Indian upstream company Oil and Natural Gas Corporation Ltd (ONGC), said it achieved a record throughput of 12.12 million metric tonnes (MMT) for the financial year to June 30 2006, up 2.28% from 11.85 MMT the previous year. MRPL said it produced...
(EnergyAsia, September 26) — Foster Wheeler Ltd said that its subsidiary Foster Wheeler Energy Limited has been engaged by Woodside Energy Ltd. to undertake a study for a liquefied natural gas (LNG) development that will process gas from the Browse gas fields, off the coast of Western Australia. Foster Wheeler did not disclose the value...
(EnergyAsia, September 26) — US-based International Fuel Technology Inc (IFT) said it will export its first commercial cargo of its DiesoLIFT(TM) fuel additive to the National Power Corporation (Napocor), a state-owned division of the Philippine Department of Energy. The additive will be used in diesel-fueled stationary power generation units. The shipment will also provide...
(EnergyAsia, September 26) — The Thai economy is expected to slow in the fourth quarter as a result of last week’s military coup against the government of caretaker Prime minister Thaksin Shinawatra, said a senior Thai economist. Anusorn Thammajai, advisor to BankThai’s Research Office and President of BT Asset Management Co, told the Bangkok Post that...
(EnergyAsia, September 25) — Singapore-listed commodities trader Noble Group said that one of its senior executives has been appointed to the Ethanol Committee of The New York Board of Trade’s Board of Governors. Fabrizio Zichichi is a senior executive of subsidiary Noble Americas Corp. Hailing the appointment as indicating the global character of the...
(EnergyAsia, September 25) — The Asia-Pacific Economic Cooperation (APEC) said its Energy Working Group (EWG) and its sub-fora have received approval by the organisation’s senior officials to step up its interaction and participation in activities organised by the International Energy Agency (IEA). Responding to a request by the acting Lead Shepherd of the APEC...
(EnergyAsia, September 25) — Sakhalin II is the world’s largest integrated oil and gas project, and with US$20 billion of inward investment it is the biggest foreign direct investment in Russia, said Sakhalin Energy. The lifetime economic benefits to the Russian Federation from this project will total over $50 billion assuming oil prices stay at...
(EnergyAsia, September 25) — China has allowed four new bunker fuel suppliers into the market, ending the monopoly on the bunker fuel market held by state-owned Chimbsuco. The move will make it easier for foreign-registered vessels to secure bunker fuel shipments in China. Three of the new firms are affiliated with Sinopec. One...
(EnergyAsia, September 25) — US-based Schlumberger said that Indian state upstream company Oil & Natural Gas Corporation (ONGC) has extended its contract with WesternGeco for its Q-Marine systems. As a result, ONGC willl continue its multiple high-resolution exploration and development seismic programmes with WesternGeco for the 2006-2007 and 2007-2008 seasons. “The initial Q-Marine contract,...
(EnergyAsia, September 25) — The Indian government has completed the approval of the merger between Kochi Refineries with state-owned refining and marketing major Bharat Petroleum Corp Ltd (BPCL). The merger process started in April 2004 and was only completed when it received the greenlight from the Ministry of Company Affairs last month. BPCL plans...
(EnergyAsia, September 25) — Singapore-listed Sinwa Limited, Asia-Pacific’s largest marine supply company, said it has signed contracts worth $15 million with three multinational petroleum and shipping companies. Shell International Trading and Shipping Company Limited has renewed its tanker supply contract for another year. Sinwa said it will continue to supply general ships’ stores and...
(EnergyAsia, September 25) — A joint venture led by Foster Wheeler Energy Limited, part of the Global Engineering and Construction Group, with Korea’s Hyundai Engineering and Construction Co Ltd, has been awarded a lump-sum turnkey engineering, procurement and construction contract by Saudi Aramco for the Khurais gas facility in Saudi Arabia. Foster Wheeler declined to...
(EnergyAsia, September 25) — Xinao Gas Holdings Limited, a privately-owned piped gas operator in China, said its net profit rose 16.4% to RMB135.9 million for the six months ended June 30 2006. (US$1=RMB7.92). Revenue surged nearly 70% to RMB1.450,2 billion over the same period last year. Earnings per share increased by 11.3% to RMB14.8 cents....
(EnergyAsia, September 25) — Talisman Malaysia Limited, a wholly-owned subsidiary of Canaidan upstream company Talisman Energy Inc, has awarded a major engineering, procurement and construction contract (EPC) to Petroleum Technical Services Company (PTSC), a wholly-owned subsidiary of the Vietnam Oil and Gas Corporation, or PetroVietnam. The contract is for three wellhead riser platform topsides for...