AUSTRALIA: Science agency says technology a key to the nation’s gas future

(EnergyAsia, April 30, Monday) — Australian science agency CSIRO has presented a ‘technology roadmap’ defining future research priorities as key to helping the country develop its growing natural gas industry.   Developed in close consultation with industry, CSIRO said the roadmap addresses the needs of both conventional and unconventional gas industries and covers the value...

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MARKETS: Wood Mackenzie sees non-OPEC peak oil threat receding

(EnergyAsia, April 30, Monday) — Non-OPEC peak oil, or the point of maximum production of oil, will not occur before 2014, said consultant Wood Mackenzie.   Disputing views that any pinnacle is within sight, Wood Mackenzie said its in-depth field-by-field research provides evidence that strong supply growth will prevail in the short term. In fact,...

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RUSSIA: Agreement with Sinopec to explore off Sakhalin Island, but no deal on oil pipeline

(EnergyAsia, April 30, Monday) — China’s Sinopec and Russia’s Rosneft have signed a deal to jointly explore and develop the Venin offshore basin in Russia’s Sakhalin region. Rosneft will have a 74.9% stake while Sinopec 25.1% in the venture to explore the shelf in the Sea of Okhotsk, covering an area of 5,300 square km...

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MALAYSIA: Doubts emerge over proposed RM50 billion project to build oil pipeline, refineries and sto

(EnergyAsia, April 30, Monday) — Questions have begun emerging over the feasibility of a proposal by politically connected private businessmen to undertake an ambitious RM50 billion project that includes the construction of a large pipeline, two oil refineries and storage tanks in Malaysia.   The project, which does not have the backing of state energy...

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CHINA: Solarfun signs long-term agreement to supply photovoltaic modules to Ecostream

(EnergyAsia, April 30, Monday) — Nasdaq-listed Solarfun Power Holdings Co Ltd, a leading manufacturer of photovoltaic (PV) cells and modules in China, will supply 182MW of photovoltaic modules to Ecostream, a leading Dutch renewable energy system integrator, under a term contract from 2007 to 2010. Ecostream has also committed to purchase 12MW of photovoltaic modules...

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SINGAPORE: Higher refining margins boost SPC’s profit by 65.1% to S$112.1 million

(EnergyAsia, April 30, Monday) — Singapore Petroleum Company, half owner of a 285,000 b/d refinery, said first quarter net profits surged 65.1% to S$112.1 million on higher refining margins and oil product prices. (US$1=S$1.5). But its revenue slipped 12.6% to S$1.92 billion for the three months to March 31 on lower sales volumes of about...

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MALAYSIA: Doubts grow over rm50billion project to build oil pipeline, refineries and storage tanks

(EnergyAsia, April 30, Monday) — Questions have begun emerging over the feasibility of a proposal by politically connected private businessmen to undertake an ambitious RM50 billion project that includes the construction of a large pipeline, two oil refineries and storage terminals in Malaysia. (US$1=RM3.42).   The project, which does not have the backing of state...

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CHINA: Infrastructure investments spreads to Pakistan, Myanmar

(EnergyAsia, April 30, Monday) — As countries continue to scour the world for oil and gas reserves, the race for energy security is no longer just about ownership of resources. Increasingly, countries and companies are also paying attention to owning and controlling the infrastructure to refine, deliver, store and handle the resources that come out...

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MARKETS: Oil prices to climb on geopolitics, refining squeeze

(EnergyAsia, April 30, Monday) — Oil prices could be due for another run-up in the coming weeks to test the US$70 a barrel again as fuel demand climbs to its seasonal high while geopolitical uncertainties return to haunt crude supply. Front-month New York WTI crude futures have not seen the US$70 a barrel this year,...

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INDIA: Tehran told to keep natural gas price ‘affordable’

(EnergyAsia, April 30, Monday) — India has warned it may withdraw from a proposed gas pipeline project linking it to Iran and Pakistan if Tehran does not offer an ‘affordable’ price for its natural gas.   Petroleum Minister Mani Shankar Aiyar said that Iran was insisting on a price equivalent to that of liquefied natural...

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NEW ZEALAND: NZ Refining to expand refining capacity by 20%

(EnergyAsia, April 27, Friday) — New Zealand Refining Ltd, which operates the country’s only refinery, said it will expand its 102,000 b/d crude processing capacity by 20%. Its four largest shareholders, BP, Caltex, Mobil and Shell, have approved investing NZ$180 million in the project that will help raise products output by at least 10%. (US$1=NZ$1.34)....

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PAKISTAN: China, Singapore support for development of Gwadar port into oil hub

(EnergyAsia, April 27, Friday) — China and Singapore are backing Pakistan in its ambition to develop Gwadar city along the coast of the southwestern province of Balochistan into a major port to serve the oil, petrochemicals and merchandise trade. Through to 2015, the Pakistani government plans to invest some US$7 billion to improve road and...

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SINGAPORE: Ezra subsidiary EOC awards first FPSO conversion contract

(EnergyAsia, April 27, Friday) — Singapore’s Ezra Holdings Limited, a leading offshore support and marine services provider for the oil and gas industry, said subsidiary EOC Limited has awarded a contract to convert a tanker into a floating, production, storage and offloading (FPSO) vessel. EOC is 88%-owned by Singapore-listed Ezra.   EOC, which will be...

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US: Energy Department to top up oil reserves by four million barrels in June

(EnergyAsia, April 27, Friday) — The US Department of Energy has issued another tender to buy four million barrels of crude oil for the nation’s strategic petroleum stockpile. Two million barrels each are to be delivered to storage sites in Louisiana and Texas in June.   Early in the month, the department was forced to...

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JAPAN: Inpex Corp, US-based Ivanhoe Energy team up to develop heavy oil field in Iraq

(EnergyAsia, April 27, Friday) — California, US-based Ivanhoe Energy Inc said it and Inpex Corp, Japan’s largest oil and gas exploration and production company, have agreed to jointly develop a heavy crude oil field in Iraq that Ivanhoe Energy believes is a suitable candidate for its patented HTLª heavy oil upgrading technology.   In late...

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DUBAI: Korea’s Doosan wins US$1.14 billion contract to build power plant

(EnergyAsia, April 27, Friday) — Engineering firm Doosan said it has won a US$1.14 billion contract, making it the largest power plant project ever awarded to a Korean company.   Last month, Doosan signed a letter of acceptance with the Dubai Electricity and Water Authority (DEWA) to build the Jebel Ali ‘M’ Combined Cycle Power Plant. The Jebel Ali ‘M’ Project, which is the largest project ever commissioned by DEWA, involves the construction of a 1,330MW combined cycle power plant.   Once completed, the power plant will supply electricity to all of Dubai.   Doosan said it plans to complete the engineering, procurement and construction (EPC) project involving the design, manufacture, installation and testing of all the power systems by March 2010.   Jebel Ali is located on the coast of the Emirate of Dubai. Several power plants have been built there since the 1980s to meet the growing demand for electricity. The Jebel Ali ‘M’ Project involves the construction of the latest and largest power plant in Jebel Ali.   Seong Eun Hong, Doosan’s executive vice president, said:   “Doosan has gained recognition for its construction and technical capabilities in the Middle East market, and the recent contract will further raise Doosan’s stature in the global power market. This will put us in an advantageous position to win the 1,200MW power plant project to be awarded at the end of this year, as well as otherlargescale projects to be awarded by DEWA in the future.”  ...

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CHINA: France’s AREVA expands its transmission and distribution activities

(EnergyAsia, April 27, Friday) — France’s AREVA said its Transmission and Distribution (T&D) division started up a new factory in Suzhou city in China’s Jiangsu province this week as part of its expansion strategy in the country.   The new gas-insulated switchgear plant is AREVA T&D’s third worldwide following France and Switzerland. It will manufacture...

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VIETNAM: State lifts controls over gasoline and diesel prices

(EnergyAsia, April 27, Friday) — Vietnam has lifted state controls over gasoline and diesel prices sold in the country with effect from April 6.   State-owned Vietnam Petroleum Import-Export Company (Petrolimex) said the move will allow domestic fuel prices to be aligned with international market forces. Consumers will benefit as they will enjoy competitive pricing,...

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THAILAND: Singapore’s Interra Resources acquires half the stake in three onshore exploration blocks

(EnergyAsia, April 27, Friday) —- Singapore’s Interra Resources Limited said it has signed a conditional agreement to acquire from JSX Energy (Thailand) Limited a 50% participating interest in the petroleum concession agreements (PCAs) for Block L17/48, Block L3/48 and Block L9/48 in Thailand.   JSXT, a majority owned subsidiary of Delaware, US incorporated JSX Energy...

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CHINA: National oil stockpile to be built up gradually

(EnergyAsia, April 27, Friday) — China has promised to build up its strategic petroleum stockpile “gradually” to about 30 days’ supply or about 100 million barrels by 2010. With oil prices rising again, China is aware that its stockpiling plans could add fuel to the world markets.   China’s leading planning agency, National Development and...

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MARKETS: Is weaker US oil demand on the horizon, asks Fimat

(EnergyAsia, April 26, Thursday) — US oil demand is starting to show signs of weakening after having long remained resilient in the face of high prices, says US commodities broker Fimat.   It said that container traffic data for Los Angeles and Long Beach, a good proxy of US diesel demand, fell to a 13-month...

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CHINA: Suntech joins Solar Energy Industries Association

(EnergyAsia, April 26, Thursday) — China’s Suntech Power Holdings Co Ltd, one of the world’s leading manufacturers of photovoltaic (PV) cells and modules, said it has joined the Solar Energy Industries Association (SEIA), with its US President Roger Efird appointed to the board of directors.   “We have always been committed to building awareness of...

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SRI LANKA: New port in Hambantota to be ready in three years

(EnergyAsia, April 26, Thursday) —- Sri Lanka has signed an agreement with several Chinese companies to jointly develop a new harbour including a US$87 million bunkering terminal in Hambantota port in the southeastern coast of the country.   Construction of phase one of the US$312 million Hambantota project is expected to last three years and...

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BRUNEI: Singapore’s Swiber expands to provide offshore business

(EnergyAsia, April 26, Thursday) — Swiber Holdings Limited, a Singapore-based integrated offshore engineering, procurement, construction, installation and commission (EPCIC) contractor and provider of marine support vessels, has registered a branch office in Brunei under its wholly-owned subsidiary, Apecs Offshore Pte Ltd (Apecs).   Apecs will be a springboard for Swiber to tap into business opportunities...

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UAE: IPIC to build Fujairah refinery despite soaring costs

(EnergyAsia, April 26, Thursday) — Abu Dhabi’s International Petroleum Investment Co (IPIC) said it is committed to building a giant oil refinery in Fujairah despite growing concerns with rising costs.   The company has been under pressure to scale back plans for the 500,000-barrel per day (b/d) refinery after joint venture partner ConocoPhillips expressed concerns...

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