Archive | November, 2007

THAILAND: PTTEP acquires 20% stake in Australian petroleum block from Finder Exploration Pty Ltd

(EnergyAsia, November 30, Friday) — Thai upstream company PTT Exploration and Production Public Company Limited (PTTEP) has acquired a 20% stake in Block AC/P36 in Australia from Finder Exploration Pty Ltd. Covering an area of 4,000 sq km in the Browse Basin, the block is located off the coast of northwestern Australia. The area is […]

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INDONESIA: Subprime financial crisis, oil could hit economy

(EnergyAsia, November 30, Friday) — Indonesia fears the US financial crisis, triggered by credit and subprime problems, and rising oil prices could hurt its economy next year. The losses faced by big US banks could impact liquidity in Indonesia’s financial markets, said central bank deputy governor Miranda Goeltom. The Indonesian economy grew 6.1% in the […]

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AUSTRALIA: Biodiesel could reduce greenhouse gas emissions, says CSIRO

(EnergyAsia, November 30, Friday) — Australia’s science agency CSIRO has released a report that says using pure biodiesel or blending biodiesel with standard fuel could reduce greenhouse gas emissions from the transport sector. Biodiesel can be manufactured from any product containing fatty acids, such as vegetable oil or animal fats. The report, The greenhouse and […]

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SRI LANKA: Iran to lend $1.5 billion for infrastructure, oil refinery works

  (EnergyAsia, November 30, Friday) — Iran has agreed to lend Sri Lanka $1.5 billion to help fund housing, power and irrigation projects and an expansion of the island’s only oil refinery. The agreement covering eight Memoranda of Understanding was signed in Tehran this week by Sri Lanka’s President Mahinda Rajapaksa and his Iranian counterpart, […]

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MARKETS: World LNG supplies are becoming tight

(EnergyAsia, November 30, Friday) — Supplies of liquefied natural gas (LNG) are becoming tight around the world, said Australia’s upstream company Woodside. The company, a big LNG producer, predicts that LNG price would reach parity with oil prices in the long term. The supply situation would become worse after 2015, its president of marketing Reinhardt […]

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MALAYSIA: Petronas, US and Japanese agencies to set up renewable energy laboratory

(EnergyAsia, November 30, Friday) — Malaysia’s state energy agency Petronas has signed an agreement with Battelle Memorial Institute of the US, Battelle-Japan Corporation and Mitsubishi Corporation to set of a renewable energy laboratory at Petronas Research Sdn Bhd’s premises in Bangi, Selangor. The agreement firms up earlier undertakings by the parties to facilitate renewable energy […]

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CANADA: Higher oil revenues to boost allocations for Heritage Fund, capital expenses

(EnergyAsia, November 30, Friday) — The Alberta government is committing a significant portion of this year’s higher forecast surplus to the Heritage Fund and capital expenses, said Finance Minister Lyle Oberg.   The Heritage Fund is expected to grow by more than C$1 billion this year after another deposit from the province’s unanticipated surplus now […]

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