JAPAN: MHI receives orders for two LNG carriers to be chartered by Taiwanese company

(EnergyAsia, October 27) — Japan’s Mitsubishi Heavy Industries Ltd (MHI) said it has received two orders for MOSS-type LNG carriers featuring a tank capacity of 145,000 cubic meters from NiMiC. The two companies, both based in Panama, are joint ventures between Nippon Yusen Kabushiki Kaisha (NYK Line) and Mitsui & Co Ltd.   The ships...

This article is for Subscriber members only.
Log In Register

INDIA: Strategic petroleum reserves could be used to offset oil price volatility

(EnergyAsia, October 27) — India is planning to use its upcoming strategic petroleum reserves (SPR) to help cushion the effects of volatility in international oil prices.   Petroleum Secretary M.S. Srinivasan said the SPR would act as a “price stabiliser” to address short-term spikes.   This move would be contrary to the US position which...

This article is for Subscriber members only.
Log In Register

CHINA: Canada’s AECL wins C$12 million contract for services, equipment for Qinshan CANDU nuclear si

(EnergyAsia, October 27) — Atomic Energy of Canada Limited (AECL) said it has been awarded a C$12 million, three-year contract to supply China’s Third Qinshan Nuclear Power Company (TQNPC) with engineering services and equipment for the construction of a MACSTOR 400 spent fuel dry storage system at the Qinshan CANDU nuclear power site.   The...

This article is for Subscriber members only.
Log In Register

JAPAN: ExxonMobil Chemical affiliate presents capabilities at specialty battery exposition

(EnergyAsia, October 27) — ExxonMobil Chemical said its affiliate in Japan, Tonen Chemical Corporation (TCC), will feature its innovative microporous film lithium ion battery (LIB) separators designed for hybrid electric vehicle (HEV) applications at the 22nd International Battery, Hybrid and Fuel Cell Electric Vehicle Symposium & Exposition (EVS 22) in Yokohama city from October 23...

This article is for Subscriber members only.
Log In Register

CHINA: Zhenhai oil tanks filled with Russian crude

(EnergyAsia, October 26) — China has quietly imported Russian crude oil to help fill up its recently completed strategic storage tanks in the coastal city of Zhenhai in Zhejiang province. Russia’s role in building China’s strategic oil stockpile underlines just how far relations between the two former rivals have developed in recent ent years.  ...

This article is for Subscriber members only.
Log In Register

MARKET: FIMAT comments on OPEC’s “two-track production cuts”

(EnergyAsia, October 26) — OPEC maintained a faade of unity at its meeting in Qatar last week despite signs of internal discord in the run-up to the event, said commodities broker FIMAT. OPEC’s ministers managed relatively quickly to ink a joint statement not only agreeing to production cuts but calling for steeper ones than had...

This article is for Subscriber members only.
Log In Register

INDIA: IOC and Petronas to build LPG terminal

(EnergyAsia, October 26) — Indian Oil Corp (IOC) and Malaysia’s Petronas are planning to build a 600,000 tonne per year liquefied petroleum gas (LPG) terminal at Ennore in Tamil Nadu state.   The Rs4 billion terminal will include two cryogenic tanks to store LPG at minus 42 degrees. (US$1=Rs45). Construction is expected to start early...

This article is for Subscriber members only.
Log In Register

SINGAPORE: Horizon’s oil terminal expected to receive first cargo this month

(EnergyAsia, October 26) — Horizon Terminals’ new Singapore oil storage facility is expected to start operations this month with the receipt of its first fuel oil cargo. The first phase of the 1.08 million-cubic metre terminal had originally been slated to open in September.   South Korea’s SK Corp, a Horizon shareholder and one of...

This article is for Subscriber members only.
Log In Register

TAIWAN: Invensys chosen to supply Takuan hydro power station digital controls upgrade

(EnergyAsia, October 26) — US-based Invensys Process Systems said Taiwan Power Company (Taipower) will implement I/A Series distributed control systems (DCS) from Foxboro for a hydro power generation and pumped storage automation upgrade project.   Located at the 1,088-megawatt Takuan Hydro Power Station in Nantau County in central Taiwan, the new implementation will utilise the...

This article is for Subscriber members only.
Log In Register

INDIA: Indian Oil Corp to invest Rs120 billion to refine high-sulphur heavy crude oil

(EnergyAsia, October 26) — State Indian Oil Corp is planning to invest Rs120 billion in new refining capacity over the next four years to process high-sulphur heavy crude oil. (US$1=Rs45). By 2010, the company expects heavy crude to account for 82% of its oil imports by 2010, up from 53% now.   It aims to...

This article is for Subscriber members only.
Log In Register

MARKETS: EU unveils action plan on energy efficiency, calls for 20% saving by 2020

(EnergyAsia, October 26) — Europe must reduce its energy use by 20% by 2020, said the European Commission in its action plan to deal with the “unprecedented” challenges facing the region. The plan contains a package of priority measures covering a wide range of cost-effective energy efficiency initiatives.   “Europeans need to save energy. Europe...

This article is for Subscriber members only.
Log In Register

SRI LANKA: Saudi help sought for refinery expansion

(EnergyAsia, October 26) — Sri Lanka is seeking Saudi Arabia’s help to finance the expansion of its sole oil refinery.   Colombo is seeking US$550 million to double the size of the 50,000 b/d Sapugaskanda refinery. It believes that expanding the plant will prove cheaper in the long run as it will help reduce the...

This article is for Subscriber members only.
Log In Register

JAPAN: New joint venture to study the development of CSS solar grade silicon

(EnergyAsia, October 26) — Three Tokyo-based companies, Chisso Corporation, Nippon Mining Holdings Inc and Toho Titanium Co Ltd, have agreed to a joint study that will establish the technology for the production of polysilicon for photovoltaic power generation utilising the zinc-reduction method known as the Chisso Solar-grade Silicon Technology (CSS).   The companies will also...

This article is for Subscriber members only.
Log In Register

MARKETS: US needs more distillate, less gasoline, says consultant

(EnergyAsia, October 26) — US heating oil and diesel cracks are now two and almost three times higher than gasoline cracks respectively, said US consultant ESAI.   In the latest edition of the Atlantic Basin Stockwatch, ESAI said it believes the market is clearly signaling the need for more distillate production, with the US deficit...

This article is for Subscriber members only.
Log In Register

INDIA: Government steps up fight against fuel adulteration in oil depots and storage tanks

  (EnergyAsia, October 25) — The Indian government has launched a fuel dye to combat the growing incidence of adulteration of gasoline, kerosene and diesel at oil depots and storage tanks throughout the country. Fuel mixed with poorer quality products and additives is becoming a serious problem in India as they are being blamed for...

This article is for Subscriber members only.
Log In Register

DUBAI: DGCX to begin trading energy, fuel oil and gasoline derivatives futures

 (EnergyAsia, October 25) — Dubai Gold & Commodities Exchange (DGCX) Ð the world’s newest online commodities derivative exchange Ð will begin trading energy and fuel oil derivatives contracts from the end of October 2006. DGCX also plans to trade gasoline derivatives next year.   “This is an obvious progression for DGCX being headquartered at the...

This article is for Subscriber members only.
Log In Register

KAZAKHSTAN: More crude oil to flow to Georgia’s Batumi oil terminal

(EnergyAsia, October 25) — Greenoak Group, the owner of Batumi Oil Terminal in Georgia, expects to handle greater volume of crude oil from Kazakhstan following its September agreement with KazTransOil, the state oil company of Kazakhstan.             Last month, Uzakbai Karabalin, President of state oil and gas company KazMunaiGas, and Jan Bonde Nielsen, chairman of...

This article is for Subscriber members only.
Log In Register

CHINA: Anadarko starts producing crude oil from new facilities in Bohai Bay

 (EnergyAsia, October 25) — US-listed Anadarko Petroleum Corporation said it has begun producing crude oil from the unitised CFD 11-6/CFD 12-1S development project in China’s Bohai Bay.   Anadarko said it expects to have 10 wells on line and producing approximately 15,000 barrels of oil per day by the end of October. Development drilling is...

This article is for Subscriber members only.
Log In Register

INDIA: Reliance Industries to operate fuel storage and supply service at Hyderabad airport

  (EnergyAsia, October 25) — Privately owned Reliance Industries Ltd (RIL) has been awarded the contract to operate the first open access fuel storage and service facility in India at the upcoming GMR Hyderabad International Airport (GHIAL) in Shamshabad. It outbid competitors IndianOil Corp, Sky Tanking, Swissport, BPCL and ONGC to manage and supply aviation...

This article is for Subscriber members only.
Log In Register

JAPAN: AREVA and MHI to collaborate on nuclear energy

  (EnergyAsia, October 25) — France’s AREVA, the world’s largest business group in the nuclear energy field, and Japan’s Mitsubishi Heavy Industries Ltd (MHI) have signed a memorandum of understanding to jointly develop their nuclear business. The agreement was recently signed in Tokyo by Anne Lauvergeon, CEO of AREVA, and Kazuo Tsukuda, President of MHI....

This article is for Subscriber members only.
Log In Register

PEOPLE: Leif Strid named Asia Pacific director for SunGard GMI

(EnergyAsia, October 24) — SunGard has named Leif Strid as Asia Pacific Director for its GMI clearing and accounting system for global exchange-traded derivatives, futures and options. To be based in Hong Kong, Mr Strid is responsible for managing the GMI infrastructure within the region, serving existing customers and coordinating the expansion of the business. ...

This article is for Subscriber members only.
Log In Register

KUWAIT: Kuwait Oil Company to build eight crude oil tank farms

EnergyAsia, October 25) — Kuwait Oil Company (KOC) has announced plans to build eight new facilities to store additional crude oil output from its southern fields. Kuwait is hoping to increase its crude oil output from around 2.5 million b/d now to four million b/d by 2020 to offset the declines at the mature Burgan...

This article is for Subscriber members only.
Log In Register

SINGAPORE: Societe Generale launches corporate capital guaranteed notes linked to a basket of commod

(EnergyAsia, October 25) — French bank Société Générale said it has worked with Singapore’s Keppel Corp Limited to introduce the Keppel Guaranteed Notes 2006 Ð Series 1 to Singapore investors. This five-year principal protected notes offers exposure to the global commodity market and is 100% guaranteed by Keppel Corp.   The bank said: “This novel...

This article is for Subscriber members only.
Log In Register

RUSSIA: Gazprom, Kogas CEOs met to discuss natural gas sales to Korea

(EnergyAsia, October 25) — The bosses of Russia’s gas giant Gazprom and Korea Gas Corp (Kogas) met in Seoul last week to discuss the sale of Russian natural gas to Korea.             Alexey Miller, Gazprom’s chairman, and Lee Soo Ho, President and CEO of Kogas, affirmed the importance of a government-to-governmental agreement for gas deliveries...

This article is for Subscriber members only.
Log In Register