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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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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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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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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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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THAILAND: PTT takes over ConocoPhillips’ retail network

(EnergyAsia, April 25, Wednesday) — Thailand’s state energy company PTT has acquired the Thai retail network and business of ConocoPhillips including 147 fuel outlets for US$275 million.   PTT holds a 34% share of the domestic fuel market while US-based Conoco which has been losing money despite investing three billion baht in Thailand since 1993...

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KUWAIT: Korea’s SK Engineering wins US$624 million contract to build crude gathering centre

(EnergyAsia, April 25, Wednesday) — SK Engineering & Construction Co of South Korea has won a US$624 million contract to build a crude oil gathering project in Kuwait. SK will undertake the project with state-controlled Kuwait Oil Company.   They will have to reconstruct the crude-oil gathering system in the Sabriyah field, north of Kuwait...

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INDIA: Essar’s Vadinar refinery to operate at full capacity by October

(EnergyAsia, April 25, Wednesday) — India’s Essar Oil expects to ramp up its newly commissioned 10.5 million tonne/year Vadinar refinery to capacity by October.   The export refinery, which came onstream last November, currently runs at 7.5 million tonnes/year, or about 150,000 b/d.   The company plans to shut the unit down in July to...

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INDIA: State oil firms not too keen on export-oriented units

(EnergyAsia, April 25, Wednesday) — Indian state oil companies appear to be cooling to the idea of turning the country into a major export-refining hub to rival Singapore.   The main reason is that they would need to invest heavily into building large-scale grassroots units in coastal areas.   Most of India’s refineries are small...

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INDIA: IOC to boost LPG imports to make up shortfall

(EnergyAsia, April 25, Wednesday) — State-owned Indian Oil Corporation (IOC) is looking to import about one million tonnes/year of liquefied petroleum gas (LPG) to help meet domestic demand.   India’s domestic supplies have been squeezed following the recent decision by privately owned Reliance Industries Limited to reduce LPG supplies from its Jamnagar export refinery.  ...

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MARKETS: Middlefield to launch uranium energy fund on TSX

(EnergyAsia, April 25, Wednesday) — Fund manager Middlefield Group said it has filed a preliminary prospectus in connection with an offering of rights to its unitholders to subscribe for its Uranium Focused Energy Fund.   Middlefield said one right will entitle the holder to purchase one fund unit at a price of C$9.90. The subscription...

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RUSSIA: Gazprom enters Sakhalin II project as majority owner of operating company

(EnergyAsia, April 25, Wednesday) — Russian gas giant Gazprom has become the majority shareholder of Sakhalin Energy Investment Company Ltd, operator of the Sakhalin II project, after buying out part of the stakes of existing shareholders Royal Dutch Shell, and Japan’s Mitsui & Co and Mitsubishi Corp. The transaction implements a protocol signed on December...

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OMAN: India’s Punj Lloyd wins Rs5.3 billion contract to construct pipelines for Oman Gas Company

(EnergyAsia, April 25, Wednesday) — Punj Lloyd Limited (PLL), an India-based EPC services provider for energy and infrastructure projects, said it has secured a Rs5.3 billion contract to build two gas pipelines for the Oman Gas Company (OGC). (US$1=Rs42).   The scope of work involves engineering, procurement and construction of a 24-inch, 40-km pipeline from...

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CHINA: TPI Composites, GE Energy to manufacture wind turbine blades in Taicang

(EnergyAsia, April 25, Wednesday) — TPI Composites Inc (TPI), a leading manufacturer of large-scale composite structures, said it has signed a long term supply agreement with GE Energy to manufacture wind turbine blades in a new production facility to be established in Taicang, China.   Production at the 190,000 square feet facility will begin early...

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UAE: Government unveils sustainable development strategy

(EnergyAsia, April 25, Wednesday) — The government of energy-rich UAE has announced an ambitious sustainable development strategy aimed at ensuring a high quality of life for its citizens. The new vision was unveiled by Vice President and Prime Minister Sheikh Mohammad Bin Rashid Al Maktoum, UAE at a special ceremony at the Emirates Palace in...

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MARKETS: Global LNG market to double by 2010

(EnergyAsia, April 24, Tuesday) — The world market for liquefied natural gas (LNG) is expected to double by 2010, according to a recent report by consultants PriceWaterhouseCoopers.    It added that LNG would account for about 40% of the anticipated growth in global gas supply between 2005 and 2010 with Qatar, Nigeria and Australia as...

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AUSTRALIA: Caltex achieves new milestone of over 150 service stations selling

(EnergyAsia, April 24, Tuesday) — Caltex Australia said it has achieved a new milestone for the number of its supplied service stations selling ethanol blended gasoline.    E10 Unleaded, which contains 10% ethanol blended with regular unleaded gasoline, is now sold at over 150 sites in the its service station network from Cairns to Canberra. ...

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AUSTRALIA: Woodside provides first quarter financial and operating update

(EnergyAsia, April 24, Tuesday) — Australian upstream company Woodside said its first quarter revenue of A$899.3 million was nearly a quarter higher than the same period last year, thanks largely to increased oil and gas production.   Its first quarter production was 25.9% higher than the same period of Q1 2006, due mostly to increased...

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CLIMATE CHANGE: Greenpeace issues statement on UN Security Council debate

(EnergyAsia, April 24, Tuesday) — The proliferation of “Weather of Mass Destruction” is a worthy topic for the UN Security Council, said Greenpeace International.   “Its appearance on the Council’s agenda represents a coming of age and recognition that a failure to act now could see UN peace keepers patrolling the climate change front line...

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CHINA: Flowserve celebrates grand opening of Suzhou manufacturing facility

(EnergyAsia, April 24, Tuesday) —- NYSE-listed Flowserve Corp, a world leader in fluid motion and control products and services, held a grand opening ceremony last week at its new pump, valve and seal manufacturing facility in Suzhou, China. The facility supports the company’s China operations in Beijing, Shanghai, Dalian and Shenzhen by providing pumps, valves,...

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INDIA: MHI to build supercritical pressure boiler manufacturing JV with Larsen & Toubro

(EnergyAsia, April 24, Tuesday) — Japan’s Mitsubishi Heavy Industries Ltd (MHI) said it has signed an agreement with Larsen & Toubro Limited (L&T), a major engineering and construction firm in India, to jointly establish a company to manufacture and sell supercritical pressure boilers for use in coal-fired power generation plants. The move is in response...

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PHILIPPINES: US-based Headwaters Inc signs licence agreements for hybrid coal-to-liquids plant

(EnergyAsia, April 24, Tuesday) — Utah, US-based Headwaters Incorporated said its subsidiary has signed several agreements with H&WB Corporation in connection with a planned coal-based liquid fuels plant expected to use low quality coal from the Philippines. Headwaters CTL said it will provide technology licenses, basic engineering design and technical services for the construction of...

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SAUDI ARABIA: Rotary Engineering signs US$7.4 million contract for petrochemical company

(EnergyAsia, April 24, Tuesday) — Singapore-listed Rotary Engineering Limited said it has won its first contract in Saudi Arabia, a US$7.4 million Engineering, Procurement & Construction (EPC) deal from SHARQ Eastern Petrochemical Company. The deal, inked through Rotary’s joint venture company, Petrol Steel Co Ltd, involves the provision of EPC support for the ethylene plant...

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INDIA: Reliance to gain from Jamnagar’s new status as export refinery

(EnergyAsia, April 24, Tuesday) — India’s Reliance Industries Limited (RIL) will realise substantial financial gains from the re-designation of its existing Jamnagar refinery as an export-oriented facility. With the new status, the 33 million tonne a year refinery would be given tax and duty exemptions on its export earnings and crude oil imports. RIL executives...

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TAIWAN: Formosa Petrochemical says world’s “largest petrochemical plant” to start up next

(EnergyAsia, April 24, Tuesday) — Taiwan’s Formosa Plastics Group said its subsidiary, Formosa Petrochemical Corp, will start-up the world’s largest naphtha cracking plant at its Mailiao production base in Yunlin county next month. The 1.2-million ton/year plant, the company’s third, will boost the company’s ethylene capacity to three million tons a year.    With the...

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