Archive | May, 2007

SINGAPORE: Ezra orders US$25.6 million vessel to support offshore oil and gas activities

(EnergyAsia, June 1, Friday) — Ezra Holdings Limited, a leading Singapore-based provider of integrated offshore support and marine services to the offshore oil and gas industry, is expanding its fleet to support deepwater offshore oil and gas exploration. Through wholly-owned Lewek Shipping, Ezra has awarded a US$25.6 million contract, which excludes owner furnished equipment, to […]

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ASIA: APEC Energy Ministers launch the Darwin Declaration

(EnergyAsia, June 1, Friday) — After two days of meetings, the eighth APEC Energy Ministers’ Meeting in Darwin this week concluded with the release of the “Darwin Declaration”, recognising the need to deploy cleaner, more efficient and sustainable energy technologies. Key outcomes featured an agreement to improve energy efficiency through a range of measures, including […]

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AUSTRALIA: Government to raise PV pogramme rebate levels for households, schools and communities

(EnergyAsia, June 1, Friday) — The Australian government has announced an increase in the rebates to be given to households, schools and community organisations applying for the new A$150 million solar power programme. (US$1=A$1.2). Minister for the Environment and Water Resources, Malcolm Turnbull, said the photovoltaic rebate, which was doubled in this year’s national budget, […]

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CHINA: Financial, economic reforms needed to address energy problems, say US scholars

(EnergyAsia, June 1, Friday) — China cannot reduce its heavy dependence on energy resources and address energy-related environmental problems unless it implements financial market reforms, said the US State Department. The single most important factor driving up Chinese energy consumption is its skewed financial system, which not only allows state-owned companies to keep much of […]

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MARKETS: Dubai, Omani governments to use local exchange to price crude exports

(EnergyAsia, June 1, Friday) — The battlelines for crude oil pricing in the crucial Middle East market are being re-drawn with the launch of new contracts by rivals Dubai Mercantile Exchange Limited (DME) and the Atlanta-based InterContinental Exchange (ICE). The Dubai and Omani governments will replace the historical Platts-based system with the futures prices of […]

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MARKETS: ICE says its Platts-linked Middle East Sour crude futures contract off to a ‘strong start’

(EnergyAsia, June 1, Friday) —- NYSE-listed IntercontinentalExchange (ICE), the leading electronic energy marketplace and soft commodity exchange, said its new Middle East Sour crude futures contract is “off to a strong start”. Launched at ICE Futures, its UK-regulated futures subsidiary, on May 21, the contract reached trading volume of 3,868 on its third trading day. […]

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PHILIPPINES: Biofuels law being implemented

(EnergyAsia, June 1, Friday) — The Philippines has implemented a new biofuels law from May 6 mandating diesel fuel to contain a 1% coco methyl ester biodiesel mix. That mix could be increased to 2% by 2009. The Biofuels Act also mandates fuel to contain a 5% bioethanol blend within two years, eventually rising to […]

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