Archive | December, 2007

CHINA: Shell subsidiary buys 55% stake in coalbed methane project

(EnergyAsia, December 31, Monday) — Royal Dutch Shell said subsidiary Shell China Exploration and Production Company Limited has acquired a 55% equity interest in a coalbed methane (CBM) venture in Shanxi Province and will take over as operator.China’s Ministry of Commerce recently approved an agreement for Shell to acquire Verona Development Corporation’s majority equity position […]

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CHINA: ICP Solar signs supply agreement with Shanghai Electric Solar Energy Corp

(EnergyAsia, December 31, Monday) — ICP Solar Technologies Inc, a developer, manufacturer and marketer of solar cells and products, said it has signed a two-year supply agreement with Shanghai Electric Solar Energy Co.Shanghai Electric is the largest Chinese enterprise engaged in the design, manufacture and sale of mechanical and electrical equipment. The group’s products cover […]

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BANGLADESH: Wartsila delivers three gas-fuelled power plants

(EnergyAsia, December 31, Monday) — Finland’s Wartsila said it has been awarded contracts by the Summit Group of Bangladesh to deliver three new gas-fuelled power plants.Each site has an output of 35 MWe. Wartsila will deliver generating sets, together with related ancillary equipment and provide supervision of the installation work. The plants will be fully […]

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SINGAPORE: Oxford Princeton to hold biofuels seminar in Singapore from May 12 to 14

(EnergyAsia, December 31, Monday) — The Oxford Princeton Programme will be holding a biofuels seminar in Singapore from May 12 to 14.“Biofuels – A Key Renewable Energy Option” aims to provide participants with a comprehensive overview on the biofuels industry with focus on ethanol and biodiesel. A detailed introduction on the economics, environmental and resource […]

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NEW ZEALAND: Origin Energy and Contact Energy acquire Swift’s oil and gas assets

(EnergyAsia, December 31, Monday) — Origin Energy and Contact Energy said they will jointly purchase some of Swift Energy’s New Zealand oil and gas assets for approximately US$87.8 million. The acquisition is backdated to December 1 2007.The assets being acquired include two main producing areas in the onshore Taranaki Basin, some additional permits and inventory. […]

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CHINA: Sinopec Corp to acquire stake in oil refineries, retail outlets from parent company

(EnergyAsia, December 31, Monday) — China Petroleum and Chemical Corporation (Sinopec Corp) said it is acquiring equity stakes in three oil refineries and 63 retail outlets from its parent company, Sinopec Group Company. Sinopec Corp’s wholly owned subsidiary, Sinopec Yangzi Petrochemical, will acquire equity interests in another two oil refineries from Sinopec Group.The acquisition costs […]

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CHINA: New policy to encourage foreign investment in oil storage and pipelines

(EnergyAsia, December 31, Monday) — Continuing the liberalisation of its oil sector, China will next offer its oil storage terminals, pipelines and port facilities to foreign investment, according to the powerful State Council.In a white paper titled, “China’s Energy Conditions and Policies”, released last week, the council said it will also seek foreign participation in […]

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AUSTRALIA: Origin Energy’s geothermal joint venture approved by Geodynamics shareholders

(EnergyAsia, December 31, Monday) — Australia’s Geodynamics Ltd shareholders have approved a proposal to form an unincorporated joint venture with Origin Energy.Origin will take a 30% stake in the venture covering the South Australian geothermal tenements and associated assets of Geodynamics Ltd. Geodynamics has been using its proprietary technology to tap geothermal energy at its […]

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PAKISTAN: Bhutto’s assassination accelerates oil stocks drawdown, power shutdown

(EnergyAsia, December 31, Monday) — Benazir Bhutto’s assassination has plunged Pakistan into a full blown energy crisis as oil stockpiles plunge to the equivalent of just a few days of consumption while a widespread electricity blackout is spreading across the country as fuel oil deliveries to power plants are suspended and workers are unable to […]

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UZBEKISTAN: Malaysia’s Petronas signs upstream agreements

(EnergyAsia, December 31, Monday) — Malaysia’s state oil and gas company Petronas said it has signed three key agreements in Uzbekistan which would boost its presence and strengthen its business portfolio in the Central Asian country.Through wholly-owned subsidiary Petronas Carigali Overseas Sdn Bhd (PCOSB), the Malaysian company signed the Baisun Block production sharing agreement (PSA) […]

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