CHINA: Rotary Engineering takes 45% stake in joint venture LNG business

(EnergyAsia, October 1, Monday) — Singapore-listed Rotary Engineering Limited said it has agreed with Beijing Everthriving Energy Technology Co Ltd to form a joint venture company to undertake the transportation and sales of liquefied natural gas (LNG) in China.((adsense)) The newly formed Jinzhou Everthriving Logistics Co Ltd will have an initial paid-up capital investment of…

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ASIA: Oil demand remains strong despite $80 oil

(EnergyAsia, October 1, Monday) — Thanks to price subsidies and its strong economic outlook, Asia’s oil demand will continue to grow despite record oil prices, the International Energy Agency (IEA) forecasts.US crude futures exceeded US$80/barrel for the first time on September 12, and stayed above that level for the most of the remainder of the…

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CHINA: PetroChina starts work on Tianjin crude oil depot

(EnergyAsia, October 1, Monday) — PetroChina’s subsidiary Dagang Oilfield has begun work to build a large crude oil depot at Tianjin port in northern China.The company expects to complete the RMB200 million project by the middle of next year (US$1 = RMB7.50).The depot will serve China’s Dagang oil field, which produced over 5.5 million tonnes…

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INDIA: Reliance said interested in Kenya oil refinery

(EnergyAsia, October 1, Monday) — India’s privately held Reliance Industries is apparently keen on acquiring a stake in the state-owned Kenya Petroleum Refinery (KPR), said Indian media reports.KPR’s oil refining capacity of 4 million tonnes a year could help Reliance source oil products for European and American markets.A move on KPR would follow Reliance’s acquisition…

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INDONESIA: Finance ministry says budget deficit contained despite high oil prices

(EnergyAsia, October 1, Monday) — The Indonesian government said its budget deficit is not expected to widen beyond the forecast 1.5% of gross domestic product (GDP) despite the negative impact of the rising oil prices which recent surged to record levels above US$80 a barrel.For its 2007 budget, the Finance Ministry had assumed an average…

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SOUTH KOREA: High oil prices hit some industries hard

(EnergyAsia, October 1, Monday) — South Korea’s airlines, shippers, oil refiners and other heavy industries are groaning under the weight of the relentless rise in world oil prices which have largely stayed above US$80 a barrel this month. US crude oil futures surged past US$80 a barrel for the first time on September 12.Airlines are…

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MALAYSIA: Authorities crack down on diesel smuggling

(EnergyAsia, October 1, Monday) — The Malaysian government is cracking down on diesel smuggling following the discovery of 128 cases in recent weeks. The outbound smuggling of low-priced Malaysian diesel has become a lucrative trade as world prices continue to rise.Malaysian smugglers are re-selling their fuel to the Philippines and Myanmar where diesel prices have…

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MALAYSIA: New storage terminal planned in Kedah

(EnergyAsia, October 1, Monday) — A privately held Malaysia company, Pristine Oil, said it is planning to build a one-million-tonne crude storage terminal in the northern state of Kedah.The complex in the Yan Petroleum Industrial Zone will include 52 storage tanks on just over 100 hectare of land.Pristine Chief Operating Officer Kamarulzaman Mohamad said the…

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SINGAPORE: Hin Leong’s Universal Terminal to start up in early 2008

(EnergyAsia, October 1, Monday) — Singapore oil trading firm Hin Leong expects its US$455 million Universal Terminal oil storage terminal to start up in the first quarter of 2008.The 2.3-million-cubic-metre terminal is Asia’s largest commercial oil storage facility. It will boost Singapore’s overall oil products storage to 8.1 million cubic metres.In recent years, Singapore has…

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THAILAND: Refiners to stop exporting LPG by year-end

(EnergyAsia, October 1, Monday) — Under pressure from the government, Thailand’s oil refiners have promised to stop exporting liquefied petroleum gas (LPG) this year as domestic demand is growing rapidly.The refiners will have reason to complain as domestic LPG prices are lower than what the refiners could sell for to international buyers.LPG use has been…

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SRI LANKA: Lanka Auto LPG to build storage terminal

(EnergyAsia, September 28, Friday) — Sri Lanka’s Lanka Auto Gas and Fuel Systems plans to invest US$12 million to build a liquefied petroleum gas (LPG) storage terminal in southern Galle.Auto Gas has already leased land at Galle harbour to build the facility which could start up within two years.The investment is driven by increased demand…

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SOUTH KOREA: Researchers plan big solar heating system

(EnergyAsia, September 28, Friday) — Korea Institute of Energy Research has teamed up with Korea District Heating Corp to develop a regional heating system powered by solar energy.Traditionally, solar energy powers only single homes. A regional heating system based on solar power would be a big breakthrough.The Korean system would reheat water from an existing…

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JAPAN: Government offers Malaysia help with biofuels technology

(EnergyAsia, September 28, Friday) — The Japanese government will soon offer Malaysia a technological assistance package to help develop its biofuels industry.Malaysia is keen on promoting palm oil-based biofuels to revitalise its agricultural sector and cut its reliance on fossil fuels.Malaysia recently approached Japan for assistance and a deal is likely to be finalised soon.Japan’s…

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INDIA: Firm buys German wind turbine maker

(EnergyAsia, September 28, Friday) — India’s Kalyani Group has acquired RSBconsult GmbH, a Germany wind turbine maker. Financial terms were not disclosed.Kalyani is already active in the wind power equipment market as a supplier of components and aims to boost its position in this fast-growing sector.Wind power is one of India’s fastest-growing sources of renewable…

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CHINA: Shanghai starts work on new wind power projects

(EnergyAsia, September 28, Friday) — Shanghai has started constructing 10 new wind power projects.The turbines, with a total capacity of 5,000 kilowatts, will be located on nearby Chongming Island, and will supply clean energy to around 20,000 households in the northeastern Chinese city. Officials estimate the 30 million kw-hours of clean electricity generated will displace…

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NEW ZEALAND: Austral Pacific says Cheal oil production station to be officially commissioned on Oct

(EnergyAsia, September 28, Friday) — Upstream company Austral Pacific Energy Ltd said its Cheal production station in New Zealand is now onstream and exporting oil and gas. Plans are now underway for the station’s formal commissioning on October 8, with New Zealand’s Associate Minister for Energy, Harry Duynhoven, officiating.Austral CEO and President Thompson Jewell said:…

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MALAYSIA: Petronas buys upstream assets in Australia, Mauritania

(EnergyAsia, September 28, Friday) — Malaysia’s state oil and gas company Petronas has agreed to buy into upstream assets in Australia and Africa’s Mauritania in separate deals announced this week.Subsidiary Petronas Carigali (Australia) Pty Ltd is seeking a 25% interest in Australia’s NT/P48 Permit, which includes the Evans Shoal Joint Venture (JV) in the Timor…

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VIETNAM: ADB approved first-stage of $931 million loan for coal power project

(EnergyAsia, September 28, Friday) — The Asian Development Bank (ADB) has approved a $28 million first-stage loan for a 2,200MW thermal power project in Mong Duong, Vietnam. ADB said its funding under the two-stage financing program will total $931 million.Vietnam’s demand for electricity is growing at a rate of 16% each year. The country’s continued…

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PEOPLE: Ex-Platts director Peter Stewart joins KBC’s market services division

(EnergyAsia, September 28, Friday) — Consulting group KBC Advanced Technologies plc (KBC) has hired veteran oil journalist Peter Stewart to its market services division.Mr Stewart, an Arabic language student, brings over 25 years of experience in crude oil and oil product prices, pricing mechanisms in commodities, and quantitative and technical market analysis to KBC. Previously…

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ASIA: Carbon Forum in Singapore to focus on region’s $21.5 billion carbon emissions market

(EnergyAsia, September 28, Friday) — World experts in the carbon emissions trade will gather at the Carbon Forum Asia 2007 in Singapore on November 6-7.The event at the Suntec Singapore International Convention and Exhibition Centre is jointly organised by the International Emissions Trading Association (IETA) and Koelnmesse. As the leading trade fair and conference for…

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VIETNAM: Cavico subsidiary signs US$36.6 million contract for hydropower construction work

(EnergyAsia, September 27, Friday) — Cavico Corporation, a Vietnamese company developing infrastructure projects, said its newly formed subsidiary Vietravico has been awarded a US$36.6 million contract to build a tunnel, dam and access road for the Ta Thang hydropower project in Vietnam’s Lao Cai Province.The work is expected to start early next year and finish…

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AUSTRALIA: Japan’s Marubeni acquires interest in coal mines

(EnergyAsia, September 27, Friday) — Japanese trading house Marubeni said its wholly owned subsidiary Marubeni Coal Pty Ltd (or M-Coal) recently completed the purchase of a one-third stake in Queensland Coal Mine Management Pty Ltd (QCMM) which holds a 70% interest in the Jellinbah East Coal Mine and Lake Vermont Coal Mine through the acquisition…

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AUSTRALIA: Shell’s ethanol storage and blending facility launched

(EnergyAsia, September 27, Friday) — Australia’s Minister for Rural Affairs and Regional Development, Tony Kelly MLC, last week launched Shell Australia’s Parramatta ethanol storage and blending facilities.Shell unleaded E10, introduced in New South Wales state in May, is now available at over 100 Shell branded and Coles Express sites.  Shell also sells Shell V-Power Racing,…

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CHINA: Celanese opens integrated chemical complex in Nanjing

(EnergyAsia, September 27, Friday) — NYSE-listed chemical company Celanese Corp has celebrated significant events in Asia, marking the company’s historical presence in China and Singapore.Last week, Celanese executives joined local officials, customers, suppliers and employees to celebrate the 10th anniversary of its Singapore operations, where Celanese manufactures acetyl products such as acetic acid and vinyl…

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CHINA: Solarfun provides mid-quarter update

(EnergyAsia, September 27, Friday) — NASDAQ-listed Solarfun Power Holdings Co Ltd, an established manufacturer of both photovoltaic (PV) cells and modules in China, has provided an update on sales, supply agreements, production plans, and progress at its joint venture company Yangguang Solar.Solarfun said it secured three large multi-year framework commitments for over 185 MW of…

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