MARKET: LNG prices rise on latest Japanese deals

(EnergyAsia, January 30, Wednesday) — Japan is paying record prices for its imported liquefied natural gas (LNG) imports from Australia, Brunei, Malaysia and Indonesia as it struggles to meet rising demand to make up for power shortfalls at its nuclear plants. The recent spot purchases will lead to higher LNG prices for the rest of…

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CHINA: Suntech supplies solar modules for Belgian town hall rooftop

(EnergyAsia, January 30, Wednesday) — China’s Suntech Power said it is participating in a solar-energy system constructed for the roof of the town hall in Genk in Belgium.The project was engineered by Netherlands-based Oskomera Solar Power Solutions (OSPS) in collaboration with Belgium-based ENECO Energie. The system consists of approximately 1,260 Suntech solar modules with a…

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SINGAPORE: BP, Jurong Aromatics sign US$10 billion deal to supply deal

(EnergyAsia, January 30, Wednesday) — BP will supply feedstocks to Jurong Aromatics Corp (JAC) and buy back the finished products in a US$10 billion agreement.The feedstock from the Middle East will be used in JAC’s new US$2 billion aromatics plant due to come onstream on Jurong Island in 2011. Construction is expected to start in…

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NEW ZEALAND: Nippon Oil to supply emergency crude

(EnergyAsia, January 30, Wednesday) — Japanese oil refiner Nippon Oil has agreed to become an ‘emergency’ crude oil supplier to New Zealand under a special deal recently signed with the Wellington.The agreement allows New Zealand to buy supplies from Japan through a ‘ticket contract’ system which provides the government with an option to purchase crude…

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INDIA: Essar to merge ports, marine and oil businesses into new flagship company

(EnergyAsia, January 30, Wednesday) — India’s Essar Shipping Limited has announced a plan to re-organise and consolidate the business of other businesses within the Essar group.It is exploring the option of merging its port and terminal assets with the drilling and exploration business of Essar Oilfields Services Limited.The ESL board has passed a resolution to…

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CHINA: BP increase investments in clean energy and chemical production

(EnergyAsia, January 29, Tuesday) — BP has signed a series of agreements to increase its investments in China covering clean energy research, a wind power project and chemical production.

BP signed an agreement to undertake a feasibility study to jointly build a Clean Energy Commercialisation Centre (CECC) with China Academy of Sciences (CAS). This follows a Memorandum of Understanding signed in Shanghai last August.

Under the agreement, CECC will integrate clean energy related technologies like coal gasification, coal-to-liquids, coal-to-chemical, carbon capture and storage, coalbed methane and underground gasification from CAS institutes and other organisations into integrated feedstock manufacturing, product distribution systems and polygeneration complexes.

The CECC would also serve as an international platform to foster collaboration among research institutes, enterprises and other institutions to improve indigenous Chinese innovation capabilities and market applications in areas such as clean coal conversion, zero emission and carbon capture and storage.

The partners have agreed that the CECC would act as a cooperation platform between the two parties in order to support the development of the Sino-UK clean coal conversion related near zero emission initiative, including technology development and demonstration projects.

BP and CAS believe that the commercialisation of clean coal conversion and other clean energy conversion technologies will make an important contribution to China’s future energy security whilst also helping to reduce carbon dioxide emissions and address China’s future energy security and environmental sustainability issues.

A full-time working team drawn from both BP and CAS has been established to progress the feasibility study and the joint venture contract, with the aim of establishing the CECC joint venture by the end of 2008.

In a framework agreement with Beijing Tianrun New Energy Investment Co, a subsidiary of Goldwind Science and Technology Co Ltd, both companies will jointly invest in three 49.5-megawatt wind power plants near Bayan Obo in Inner Mongolia. They have agreed to explore further wind power investment opportunities in that region.

BP has also signed a MoU with Sinopec to add a new 650,000-tonne acetic acid plant at their YARACO joint venture in Chongqing in southwest China. The plant is expected to be operational in 2011 and will increase production capacity to more than one million tonnes per year, making it one of the largest acetic production sites in China.

In Beijing recently, British Prime Pinister Gordon Brown met with Chinese Premier Wen Jiabao to witness the signing of agreements.

Gary Dirks, BP President of Asia Pacific and China, said: “BP’s total investment in China has exceeded US$4 billion since our arrival some three decades ago.

“Our commercial and social investments serve a clear purpose, which is to provide quality products and materials to help Chinese consumers improve their quality of life and protect the well-being of the environment. I am pleased that BP is continuing to take steps in delivering this commitment.”

INDONESIA: Pertamina to invest US$2.2 billion to boost crude output, upgrade refineries

(EnergyAsia, January 29, Tuesday) — Indonesian state oil and gas firm Pertamina plans to invest US$2.2 billion this year to boost crude output and upgrade its refineries.The bulk or 62% of the funds will be spent on upstream projects with the remainder to be invested in the downstream and refining business.Indonesia, an OPEC member, is…

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CHINA: CNPC refinery projects to drive growth

(EnergyAsia, January 29, Tuesday) — China National Petroleum Corporation (CNPC), the country’s largest crude oil producer, is laying the foundation for future growth with investments in four large refinery projects this year.The plants at Dalian, Fushun, Dushanzi and Qinzhou will provide the company with more than 40 million tonnes of refining capacity. The first three…

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NEPAL: China eyes direct rail link for oil supplies

(EnergyAsia, January 29, Tuesday) — China is offering to build a direct rail link to supply oil products to the energy-starved Himalayan nation of Nepal.The link would extend the Tibet railway system from Lhasa to the Nepalese capital of Kathmandu.In Nepal, hydropower helps meet the bulk of domestic electricity demand. But only a part of…

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INDIA: Essar Oil acquires 50% stake in Kenyan refinery

(EnergyAsia, January 29, Tuesday) — Essar Energy Overseas Ltd, a subsidiary of India’s Essar Oil Limited, has agreed to acquire 50% of Kenya Petroleum Refineries Ltd (KPRL) which owns a four-million-metric-tonne-a-year oil refinery in Kenya’s Mombasa city. The Kenyan government holds the other 50%.Essar said it will acquire the stake from existing shareholders Shell Petroleum…

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SOUTH AFRICA: African refiners to meet in Cape Town in March

(EnergyAsia, January 29, Tuesday) — Africa’s oil refiners will meet at the third annual meeting of the African Oil Refiners (ARA) event in Cape Town in South Africa from March 10 to 12. They will discuss product quality and health issues, and focus on meeting the challenges of competition from new refineries in India and…

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DUBAI: DME receives approval for block trading of Oman crude oil futures contract

(EnergyAsia, January 29, Tuesday) — The Dubai Mercantile Exchange Limited said it has been given permission by the Dubai Financial Services Authority to accept privately negotiated ‘block trades’ of Oman crude oil futures contracts from January 14.

‘Block’ trades of a minimum size of 100 contracts can be submitted to the exchange via the NYMEX Clearport trade entry portal by a broker or the NYMEX facilitation desk. The block trades must be reported to the exchange within five minutes of execution.

DME CEO Gary King said: “This latest development is in response to growing demand from our members and customers to submit their off-exchange transactions to the DME.

“We are delighted to be able to offer them the world-class block trading facility developed by NYMEX and have been working with the over the counter brokers to make sure that they are aware of this new business opportunity. We look forward to a long partnership with them.”

The DME, a joint venture between NYMEX, Tatweer, a member of Dubai Holding, and the Oman Investment Fund (OIF), is the premier international energy futures and commodities exchange in the Middle East, providing a financially secure, well-regulated and transparent trading environment.

MARKETS: IEA sees tightening balance as world oil demand continues to grow

(EnergyAsia, January 29, Tuesday) — Expect oil prices to remain strong this year as world demand growth continues at a brisk pace while inventories decline further and production struggles to keep pace, said the International Energy Agency (IEA).The Paris-based oil watchdog for the industralised world said oil consumption in China, India and the Middle East…

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CHINA: Price controls imposed to check inflation

(EnergyAsia, January 29, Tuesday) — Chinese Prime Minister Wen Jiabao said his government will freeze soaring energy prices in the near term to check an 11-year-high inflationary rate caused by rising food and oil costs.Prices of fuel, oil products, natural gas and electricity along with water tariffs and public transportation fees would be frozen, he…

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INDIA: MCX becomes first Asian exchange to launch carbon credits contract

(EnergyAsia, January 29, Tuesday) — The Multi Commodity Exchange (MCX), India’s biggest commodity exchange, has become the first in Asia and among a few around the world to launch futures trading in carbon credits (ECX-CFI MiniSM).Carbon credits are generated by organisations and companies in the developing world using cleaner technologies, thus reducing their greenhouse gas…

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SOUTH KOREA: Jusung Engineering, France’s CEA to jointly develop solar cells

 

(EnergyAsia, January 28, Monday) — Jusung Engineering, a South Korean semiconductor, display and solar cell device manufacturer, has signed an agreement with research institute French Atomic Energy Authority (CEA) to jointly develop silicon-based heterojunction solar cells until at least the end of 2009.

The partners will combine their expertise to develop specific thin film silicon solar cells and large area TF LCDs.

They will develop a specific heterojunction process to manufacture thin film silicon solar cells at high efficiency. This new process targets solar cells of efficiency up to 20% using a high productivity process.

CEA’s Laboratory of New Technologies For Energy (Liten) will conduct research to improve the performance of silicon photovoltaic cells by optimising the manufacturing processes and introducing new concepts based on micro and nano technologies.

The French research institute has acquired significant laboratory-scale know-how in high efficiency photovoltaic cells using micro and nanotechnologies. It wants to accelerate the process by engaging a collaboration agreement to Jusung.

This seven-million euros joint venture will provide the institute with the necessary equipment to establish a field of high-level research on heterojunction solar cells that would help achieve a production-ready technology for transfer to its industrial partners. (US$1=0.68 euro). The new equipment will be installed in INES facilities where it conducts solar R&D.

SINGAPORE: OCBC analyst rate Federal International a buy, with fair value price of S$0.81

(EnergyAsia, January 28, Monday) — OCBC Investment Research Pte Ltd has rated the stock of Singapore-listed oil and gas engineering firm Federal International as a buy, despite lowering its fair value price to S$0.81 from $1.02 previously. (US$1=S$1.43).OCBC said weaker market sentiments around the world will increase volatility in share prices.As market and sector valuations…

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CHINA: CNOOC’s 12-million-ton refinery to start up later this year

(EnergyAsia, January 28, Monday) — China’s upstream company CNOOC expects to start up its new 12-million-tonne-per-year refinery in Huizhou in southeastern Guangdong province later this year.The plant is capable of producing 7.3 million tons of oil products to meet the demand of the province’s fast growing oil market.The company is planning on building several large…

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PHILIPPINES: Japan, ADB to provide financial support to electric cooperatives

 

(EnergyAsia, January 28, Monday) — Residents in remote areas of the Philippines with limited access to electricity may see light at the end of the tunnel with new financial support from Japan and the Asian Development Bank (ADB) that targets electric cooperatives.

Electric cooperatives, small distribution utilities in which all users own shares, are common in rural areas not served by larger national utilities. However, even villages with access to electricity through the cooperatives have many households that are not able to connect to the electricity because of cost or technical limitations.

The Japan Special Fund is providing a $550,000 grant to be managed by ADB to prepare the Rural Electric Cooperatives Development Project. The government of the Philippines, through the National Electrification Administration (NEA), is contributing $236,000 to the project. NEA will implement the technical assistance.

“In line with its poverty reduction program, the Philippines is eyeing 100% electrification of villages by 2009. But the technical and financial capability of electric cooperatives is still inadequate to ensure quality supply to consumers,” said Yongping Zhai, Principal Energy Specialist at the ADB’s Southeast Asia Department.

The project will consolidate and strengthen the technical and financial capability of electric cooperatives in the Philippines, particularly those that are not viable, to enable them to provide efficient, adequate and reliable service at reasonable rates.

At the end of 2006, about 95% of the 36,030 villages in the Philippines had access to electricity. Those without access are mostly located in isolated areas.

MARKETS: Shell’s CEO says ‘easily accessible’ world oil and gas supplies will not meet demand growth

(EnergyAsia, January 28, Monday) — Shell’s CEO Jeroen van der Veer appears to have endorsed the ‘peak oil’ view when he wrote that “easily accessible supplies of oil and gas probably will no longer keep up with demand” after 2015.In an article released during last week’s World Economic Forum in Davos, Switzerland last week and…

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CHINA: Fuel Tech to award demonstration programme for coal-fired utility boiler

(EnergyAsia, January 28, Monday) — Nasdaq-listed Fuel Tech Inc, a world leader in advanced engineering solutions for the optimisation of combustion systems in utility and industrial applications, said it has awarded its first FUEL CHEM® demonstration programme in China. The company said it will share with Itochu Hong Kong Ltd, a subsidiary of Japan’s Itochu…

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SINGAPORE: McCloskey’s Asian Coal Conference 2008, focus on China and the Asian book

 

(EnergyAsia, January 28, Monday) — McCloskey’s Asian Coal Conference 2008 will focus on the region’s rise as the centre of the world coal market, with China s the driving force. This year’s event will be held on at the Shangri-La Hotel in Singapore on February 26-27.

Asia led the coal world markets last year. Demand surged from all quarters, outpacing growth in supply and causing a paradigm shift in prices.

China remained a driving force: a thundering start to 2007 saw imports surge and exports falter, to the extent that for many months it became a net importer. It is unlikely to end the year as a net importer of power generation coal, but it will be close as steam exports are set to fall by 20 million tonnes.

India – followed by its neighbours – turned to South Africa to replace the missing Chinese supplies. Consequently South African and European prices rose, despite moribund European demand for much of the year.

South Africa is regaining its presence in the Far East, with the Korean gencos in particular purchasing a significant amount for 2008, after a seven-year absence.

An extended Indonesian rainy season and weather problems in Australia added to an already tight market. As China marches towards net importer status, Vietnam is making moves to keep its anthracite at home to fuel expanding domestic power capacity, straining the system still further.

For details, please contact Admin@EnergyAsia.com.

SINGAPORE: Keppel awarded S$145 million drillship business contract

(EnergyAsia, January 28, Monday) — Keppel Shipyard Limited, a wholly-owned subsidiary of Singapore’s Keppel Offshore & Marine Limited (Keppel O&M), said it has been awarded a S$145 million contract for the integration and completion of a new build “Bully” drillship. Keppel was awarded the contract by a company jointly owned by Frontier Drilling and Shell.This…

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MARKETS: Fimat expects a “pause” in oil rally for 2008, WTI crude to stay at $80 a barrel

(EnergyAsia, January 28, Monday) — US commodities trader Fimat expects world oil prices to take a “pause” this year after the recent run-up to record levels.WTI oil futures have gone through a roller coaster, falling 12% in three weeks from an all-time nominal high of $100.09 on January 4 after surging 44% from August lows.Fimat…

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AUSTRALIA: Nexus to acquire Anzon Energy and subsidiary

(EnergyAsia, January 28, Monday) — Australia’s Nexus Energy Limited said it has agreed to take over Anzon Australia Limited (AZA) and Anzon Energy Limited (AEL) to create a leader in the country’s upstream oil and gas sector.Nexus said it will acquire both AZA and AEL by way of separate, non-interdependent schemes of arrangement.Nexus is offering…

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