SINGAPORE: Straits Asia Resources declares force majeure at its coal mine in Indonesia

(EnergyAsia, August 1, Wednesday) — Singapore-listed Straits Asia Resources Limited has declared force majeure at its Sebuku coal mine in Indonesia’s Kalimantan province. The supply cut-off took effect on July 30.The company said operations have been disrupted by the extended wet season in Kalimantan that brought about 417mm of rainfall at Sebuku last week.In a…

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EMISSIONS: Industrialised nations says greenhouse gas output on the rise

(EnergyAsia, August 1, Wednesday) — Most industrialised nations have seen their greenhouse gas emissions rise since 2000, according to latest UN data.Emissions by the eight largest industrialised nations or the G8 nations rose 2% from 2000 to 14.3 billion tonnes in 2005.The greenhouse gas output of Russia, Italy and Canada all exceeded that of the…

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AUSTRALIA: Woodside, Santos to make big LNG bets. total investments could top A$19 billion.

(EnergyAsia, August 1, Wednesday) — Two of Australia’s largest oil and gas companies last month announced they plan to make huge investments in separate liquefied natural gas (LNG) projects for the export markets.Woodside Petroleum Ltd said it will invest A$12 billion to develop the Pluto LNG project — the largest single investment by one company…

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CHINA: Oil demand, refining output at record high

(EnergyAsia, August 1, Wednesday) — In keeping with its red hot economy, China’s consumption and production of oil products reached record high levels recently.Its oil products use grew 9.6% to more than 106 million tons in the first half of the year while refining throughput rose 9.8% to 27.97 million tonnes for the month of…

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MALAYSIA: Oil and gas stocks continue to climb

(EnergyAsia, August 1, Wednesday) — Malaysian stocks exposed to the oil and gas industry stocks such as Dialog Group Bhd, SapuraCrest Petroleum Bhd, KNM Group, Dialog, Petra Energy, Wah Seong Corp Bhd and UMW Holdings Bhd have performed well over the past year.Last week, Dialog soared 8.6% to RM2.27 while SapuraCrest hit a record high…

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MALAYSIA: Petronas’ importance grows as oil production nears peak

(EnergyAsia, August 1, Wednesday) — Malaysia, one of Asia’s most successful economies, faces the worrying prospect of declining oil production that could turn it into a net importer as early as 2010. Celebrating its 50th year of independence this month, Malaysia is increasingly relying on the oil and gas revenues of state-owned Petronas as past…

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MARKETS: Forecasts of US$100 oil return as crude continues surge

(EnergyAsia, August 1, Wednesday) — The grim forecasts for US$100 oil are back as world oil prices surged right through the warm month of June and July. On the last trading day of July, New York crude futures broke through the US$78 a barrel mark and are poised to take out the record US$78.40 level…

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CHINA: Ethanol production halted on rising corn prices

(EnergyAsia, August 1, Wednesday) — Many of China’s smaller ethanol plants have stopped producing due to the rising cost of corn and government concern over food inflation.Corn prices have risen by 23% in the first five months of 2007, compared with the year-earlier period. Some analysts blame traders for hoarding corn to force a price…

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RENEWABLES: Strong growth, investment in sustainable energy projects

(EnergyAsia, August 1, Wednesday) — Global investment in renewable energy projects execeeded US$100 billion last year, up from US$80 billion in 2005, according to the United Nations Environment Programme (UNEP).Regionally, the US and the European Union (EU) accounted for the bulk of investments in sustainable energy last year. However, developing countries boosted their share in…

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AFRICA: Reps of govts, energy firms, banks to meet in Cape Town, South Africa Oct 29-Nov3

(EnergyAsia, August 1, Wednesday) — Representatives from governments, oil companies and financial institutions from around the world are expected to attend the 14th Annual African Oil Week 2007 in Cape Town, South Africa on October 29 to November 3. As the world’s largest and most important energy event on Africa, the gathering will focus on…

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AUSTRALIA: Santos says second quarter production up 4.7% to 15.6 million barrels of oil equivalent

(EnergyAsia, July 31, Tuesday) — Australian upstream company Santos Ltd said its second-quarter production rose 4.7% to 15.6 million barrels of oil equivalent compared with the same period a year earlier. Start-up of new projects helped boost first half production to 30.1 million boe from 28.7 million boe in the first half of last year.“The…

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US: US Futures Exchange Ltd to list wind power futures from August 24

(EnergyAsia, July 31, Tuesday) — US Futures Exchange (USFE) said it will list wind power futures, its first renewable energy contracts, on August 24. Seven contracts derived from NORDIX® Financial Wind Indexes will trade with monthly expiries.NORDIX® Financial Wind Indexes, created by Weather Bid, LLC, are composed of deviations from 20-year historical wind speed averages…

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MIDDLE EAST: GE Energy wins $1.8 billion worth of contracts for new power plants

(EnergyAsia, July 31, Tuesday) — GE Energy said it has received contracts totaling more than $1.8 billion to supply 32 gas turbines and additional equipment for power plant projects in Kuwait and Qatar that will add more than five gigawatts of capacity to help meet the Middle East’s rapidly growing demand for electricity.“To support the…

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CHINA: LDK Solar expands 2009 production capacity to 1,600MW

(EnergyAsia, July 31, Tuesday) — LDK Solar Co Ltd, a leading Chinese manufacturer of multicrystalline solar wafers, said it has secured additional contracts for production equipment to support expansion of its wafer production capacity to 1,600MW by end 2009.LDK said it will purchase additional directional solidification system (DSS) furnaces and wire saws for use in…

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JAPAN: Three ethanol projects receives six billion yen in subsidies

(EnergyAsia, July 31, Tuesday) — Japan’s farm ministry has awarded state subsidies totalling six billion yen to three organisations to produce fuel ethanol.Alcoholic beverage maker Oenon Holdings and two farmer co-operatives will work on three pilot projects as part of a larger programme to replace 500,000 kilolitres a year of gasoline with biofuels.Two of the…

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CHINA: Solar energy use to be enforced

(EnergyAsia, July 31, Tuesday) — China is expected to make it mandatory for solar energy equipment to be included in new state-funded construction projects.Chen Deming, vice minister in charge of the National Development and Reform Commission (NDRC), recently announced that solar energy water heaters will be installed in hospitals, schools, hotels and swimming pools.Mr Chen…

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MALAYSIA: Cooperation with Indonesia affirmed to develop biodiesel industry

(EnergyAsia, July 31, Tuesday) — Malaysia and Indonesia will push ahead to jointly develop their biodiesel industry despite growing concerns with the questionable economics and ethics as well as negative environmental effects of the sector.Officials are moving to implement plans to set aside 12 million metric tons of palm oil a year for biodiesel production.Food…

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CHINA: Yunnan province to build 200MW wind power plant

(EnergyAsia, July 31, Tuesday) — Yunnan province will be home to a 200MW wind power plant, according to Industrial Info Resources.Construction of the US$260 million plant is expected to begin early next year in the province’s Huize county.The project, which is jointly developed by the Huize county and Yunnan Power Investment New Energy Development Company…

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CHINA: Hong Kong-listed power firm eyes wind and hydro capacity

(EnergyAsia, July 31, Tuesday) — Wind power will feature strongly in China Power International Holdings’ plans to increase its generating capacity by 1,000 megawatts by 2010.The Hong Kong-listed company plans to invest 45.6 billion yuan (US$1=120 yen) to triple its wind-power generation capacity in China by 2010.China Power, the country’s fifth-largest electricity producer, is building…

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POWER: PFI holds 12th Annual Financing Energy Projects in Asia, Singapore, Oct 25-26

(EnergyAsia, July 31, Tuesday) — IPP power and energy supplies are at a premium in Asia. Demand is high and growing at a phenomenal rate, creating a world of opportunities for sponsors and financiers keen to capitalise on this lucrative market.PFI’s 12th Annual Financing Energy Projects in Asia brings together experts to provide in-depth analysis…

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THAILAND: PTT cuts gasoline, bio-gasoline prices by 0.40 baht

(EnergyAsia, July 30, Monday) — State oil and gas company PTT said it has reduced the pump prices of its gasoline and ethanol-mixed gasoline by 0.40 baht from Friday, July 27. (US$1=30 baht).Its octane 95 gasoline now sells for 29.19 baht, while the octane 91 grade costs 28.39 baht.The octane 95 ethanol-mixed gasoline or bio-gasoline…

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AUSTRALIA: Woodside approves A$12 billion Pluto LNG project

(EnergyAsia, July 30, Monday) — Australian upstream company Woodside Petroleum Ltd said it has approved development of the A$12 billion Pluto Liquefied Natural Gas (LNG) project, subject to receipt of final environmental and other regulatory approvals. The project represents the largest single investment by one company in Australia’s resources sector.It would be based on Woodside’s…

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CHINA: JA Solar starts up cell production at four new lines

(EnergyAsia, July 30) — China’s JA Solar Holdings Co Ltd said it has started up production at four new solar cell production lines at its existing Ningjin, Hebei site.The four 25 MW per annum lines have raised the company’s manufacturing capacity from 75 MW to 175 MW per annum.JA Solar, a fast-growing manufacturer of high-performance…

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FIJI: Commerce minister says investors keen on oil refinery project

(EnergyAsia, July 30, Monday) — Foreign investors are interested to help build an oil refinery in Fiji, said Commerce Minister Taito Waradi, on his return from meeting business groups in Dubai, Singapore, Korea and Malaysia last week.The Fiji government is starting to look to Asia for trade and investments as it seeks to reduce dependence…

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INDIA: Strong refining margins boost Reliance’s April-June quarter net profit by 28.2%

(EnergyAsia, July 30, Monday) — India’s privately owned Reliance Industries said strong refining margins boosted its April-June quarter net profit by 28.2% to Rs32.64 billion rupees. ($1=Rs41). Revenue was rose by 12.7% to Rs294.93 billion.“While our existing businesses continue to deliver a robust operating performance, our new initiatives provide us a platform to deliver superior…

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