SINGAPORE: Mitsui continues investigation into huge trading loss

(EnergyAsia, November 30) — Japanese trading house Mitsui and Co is continuing its investigations into how a naphtha trader in its Singapore subsidiary lost and covered up US$81 million of losses since the start of the year.   The losses incurred by Mitsui Oil Asia only came to light on November 17 when the parent...

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JAPAN: Marubeni Corp, Abu Dhabi’s GHC form JV trading house

(EnergyAsia, November 30) — Japan’s Marubeni Corp and General Holding Corporation (GHC), a state-owned firm of UAE’s Abu Dhabi government, have jointly established the Abu Dhabi General Trading House. GHC, controlled by Abu Dhabi’s Department of Planning and Economy, holds a 60% stake in the venture.   The JV firm, to be based in Abu...

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AUSTRALIA: Work with China to monitor climate change

(EnergyAsia, November 30) — Australia’s scientific agency CSIRO and the Chinese Academy of Surveying and Mapping (CASM) have signed a research agreement in Beijing today to collaborate on China’s resource mapping satellite program. CSIRO said the advanced satellite programme will gather land and marine observation data which will be used for monitoring climate change impacts...

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CLIMATE CHANGE: US study group attacks report by UK’s Nicholas Stern

(EnergyAsia, November 30) — The US-based National Center for Policy Analysis (NCPA) has attacked a recent report on climate change sponsored by the UK government as flawed.             H. Sterling Burnett, a senior fellow with the NCPA, said the widely hailed report, which urges immediate and extensive action to mitigate the impact of climate change,...

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CHINA: Electricite de France expands industrial cooperation, investment

(EnergyAsia, November 30) — Electricite de France (EDF) has signed two industrial partnership agreements with China Datang Corporation and China Guangdong National Power Company, expanding industrial cooperation and investment opportunities between France and China. Pierre Gadonneix, EDF chairman and CEO, signed the agreements with Zhai Ruoyu, China Datang’s chairman, and Qian Zhimin, China Guangdong National...

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INDONESIA: PGN’s US$1.1 billion gas pipeline to start up next month

(EnergyAsia, November 30) — State-owned gas distributor PGN is expected to start up its US$1.1 billion pipeline linking South Sumatra and West Java next month. President Susilo Bambang Yudhoyono has been invited to inaugurate the start-up of the 1,106-km pipeline which will deliver up to 400 million standard cubic feet of gas per day (MMSCFD)....

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JAPAN: Idemitsu starts up crude oil production in Norwegian North Sea

(EnergyAsia, November 30) — Japanese oil firm Idemitsu Kosan Co Ltd said its subsidiary, Idemitsu Snorre Oil Development Co Ltd, has begun producing crude oil, through its Norwegian subsidiary, Idemitsu Petroleum Norge AS (IPN), at the Fram East field in the North Sea.             IPN is owned by Idemitsu Oil and Gas Co Ltd (50.5%)...

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MALAYSIA: Proposal to merge oil palm companies to take on biofuels market

(EnergyAsia, November 30) — An investment bank has submitted an unsolicited proposal for a RM31 billion merger of three of Malaysia’s largest plantation companies and their five subsidiaries to position the country as a leading player in the emerging biofuels industry. (US$1=RM3.7).             This week, CIMB, Malaysia’s largest investment bank, proposed that its special-purpose vehicle,...

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NUCLEAR: Organisation to implement nuclear energy project endorsed by members

(EnergyAsia, November 30) — Ministers from six countries and the European Union have established the organisation in Paris, France to implement the US$12.8 billion International Thermonuclear Experimental Reactor (ITER) for developing nuclear energy fusion.             Ministers from the seven parties of ITER — China, European Union, India, Japan, South Korea, Russian and the US —...

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INDONESIA: Jeruk field contains less than 50 million barrels

(EnergyAsia, November 30) — The Jeruk field in Indonesia’s offshore Sampang production sharing contract most likely holds less than 50 million barrels of oil, said two of its venture partners.             In separate announcements, operator Australia’s Santos and Singapore Petroleum Company said that despite substantial remaining reservoir uncertainties, its analysis is now largely complete, showing...

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QATAR: Four Japanese firms named as new shareholders of Laffan oil refinery

(EnergyAsia, November 29) — Qatar Petroleum has named four Japanese firms — Idemitsu Kosan Co Ltd, Cosmo Oil Co Ltd, Mitsui & Co Ltd and Marubeni Corp — as new shareholders of the Laffan Refinery Company Limited.   In announcing the new partners, QP said the original Joint Venture Agreement (JVA) has been amended to...

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AUSTRALIA: Spain’s Acciona to build its largest wind farm in Victoria state

(EnergyAsia, November 29) — Spain’s Acciona Energy has started building a wind farm in Australia’s Victoria state which it says is the largest of its 154 wind farms. The Waubra wind farm will produce 192 MW from 128 1.5 MW wind turbines manufactured with Acciona Windpower technology, and represents an investment of 238 million euros....

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AUSTRALIA: AGL confirms additional $55m cost savings

(EnergyAsia, November, 29) — Australia’s AGL Energy Limited (AGL) said it has largely completed its corporate restructuring programme and made additional cost savings of A$55 million per year. (US$1=A$1.3).   Managing director Paul Anthony said the programme was now 75% complete, allowing AGL to quantify the full benefit of the resulting cost savings. These savings...

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AUSTRALIA: Unit of Japanese oil company Idemitsu Kosan starts up Boggabri coal mine

(EnergyAsia, November 29) — Japanese oil company Idemitsu Kosan Co Ltd said its wholly owned Australian subsidiary, Idemitsu Boggabri Coal Pty Ltd, recently started producing and shipping coal from its Boggabri mine in New South Wales state in Australia. Idemitsu Boggabri Coal Pty Ltd fully owns the rights of the coal mine.   Starting with...

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AUSTRALIA: Minerals council forecasts uranium boom ahead despite doubts

(EnergyAsia, November 29) — Despite challenges posed by rising cost, infrastructure problems, environmental concerns and export restrictions, Australia is about to undergo a uranium boom, with as many as five new mines due to start up over the next five years, said Minerals Council chief Mitch Hooke. Citing the recent government commissioned report by Ziggy...

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BIOFUELS: UN’s FAO positions offers bioenergy expertise to help mitigate impact of climate change

(EnergyAsia, November 29) — Climate change will directly affect future food availability and compound the difficulties of feeding the world’s rapidly growing population, the Food and Agriculture Organisation said at the recent UN climate change conference in Nairobi, Kenya.   In an address to the conference’s scientific and technical body, Castro Paulino Camarada, FAO Representative...

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CHINA: First hydrogen refuelling station launched by BP, SinoHytec

(EnergyAsia, November 29) — SinoHytec and BP recently held a ceremony in Beijing to celebrate the opening of China’s first hydrogen refuelling station and also BP’s largest hydrogen for transportation site in the world.   SinoHytec develops technologies, and is engaged in the design of electric vehicle, R&D of new energy power train system and...

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CHINA: Pledge to step up cooperation, double trade with India to US$40 billion by 2010

  (EnergyAsia, November 29) — China and India have pledged to double bilateral trade to US$40 billion by 2010 while stepping up cooperation in science, technology and energy and settling their border disputes.   The development of nuclear energy for civilian use received special mention in the declarations made at the end of the meeting...

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INDIA: Wind energy conference focused on energy independence through wind power and renewables

(EnergyAsia, November 29) — The recently concluded 5th World Wind Energy Conference in New Delhi focused on two themes: the importance of achieving independence through wind and use of renewable sources to achieve energy efficiency and conservation.   Working with international industry associations in the International Renewable Energy Alliance (IREA), countries should use a mix...

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PEOPLE: Mohan R. Hingnikar is GAIL’s chairman, managing director

(EnergyAsia, November 29) — Gas Authority of India Limited has promoted former director for human resources Mohan R. Hingnikar to chairman and managing director. He succeeded S.P. Rao who retired on October 31. The company has also named Santosh Kumar as projects director and A. K. Purwaha as business development director.   Mr Hingnikar, a...

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CANADA: Petroleum giant Alberta to expand bioenergy, biofuels sector

(EnergyAsia November 28) — With the world’s second largest oil reserves after Saudi Arabia, Alberta state in western Canada is not short on ambitions these days as it lays the foundation for a diversified, sustainable economy. Apart from oil, the state has rich reserves of natural gas, coalbed methane, minerals and lots of rich farmland...

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VIETNAM: ADB assisting in development of O Mon power complex

(EnergyAsia, November 28) — The Asian Development Bank (ADB) is assisting the government of Vietnam to address its growing power deficit by preparing a project that will develop the O Mon thermal power complex 300 km south of Ho Chi Minh City.   Four power plants will be developed in phases to operate as a...

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SINGAPORE: Saudi companies invited to invest in storage projects on Jurong Island

(EnergyAsia, November 28) — Singapore is courting Saudi companies to invest in its oil storage projects, particularly the underwater rock caverns being developed on Jurong Island The project’s first phase of 1.47 million cubic metres to store crude oil, naphtha and condensates is due for completion by 2009, said Prime Minister Lee Hsien Loong.  ...

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CHINA: Singapore’s Advanced Holdings awarded its first clean fuel contract

(EnergyAsia, November 28) — Singapore’s Advanced Holdings Ltd, a designer and provider of process equipment for industrial companies, has landed a US$3.5 million contract to provide clean fuel technologies to a Chinese oil company, which it declined to name. Advanced said the contract is not expected to have financial impact on its results this year,...

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SINGAPORE: BH Global Marine secures new supply contracts from vessel, oil rig builders

(EnergyAsia, November 28) — BH Global Marine Limited, a Singapore-based procurement specialist of electrical equipment and cables to the marine, oil and gas industry, has secured new contracts worth a total of S$2.5 million. (US$1=S$1.55). The contracts involve the supply of cables for two Anchor Handling Tug Supply (AHTS) vessels and the supply of specialised...

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