COMPANIES: Webcast interviews on www.EnergyAsia.com

(EnergyAsia, April 1, Tuesday) — EnergyAsia has launched a new service: a series of interviews with senior executives of companies involved in the energy business. The interviews are recorded on film and available for viewing on www.EnergyAsia.com, and on YouTube. Nine companies are featured in the latest interviews. For use of these copyright interviews, please (more…)

INDONESIA: Even more power blackouts feared in coming years

(EnergyAsia, April 1, Tuesday) — Indonesia could be in for several more years of spiralling power blackouts, with adverse impacts on the economy and social stability. The country’s creaking power infrastructure is increasingly unable to meet rising demand due to years of underinvestment and neglect, analysts said. The power supply situation in Indonesia, the world’s...

This article is for Subscriber members only.
Log In Register

MARKETS: As Kuwait, Dubai expand in Asia, Saudi Arabia pulls out of the Philippines

(EnergyAsia, April 1, Tuesday) — The courtship between the Middle East and Asia is starting to narrow down to a handful of partners. Not all Middle Eastern countries are rich or blessed with lots of oil, and not all Asian countries are dynamic and have bright economic prospects. China and India join long-time Middle East...

This article is for Subscriber members only.
Log In Register

SINGAPORE: Ezra signs US$77.6 million worth of charters

(EnergyAsia, April 1, Tuesday) — Singapore’s Ezra Holdings Limited, a leading integrated support and marine services provider for the offshore oil and gas industry, said it has signed fresh charter contracts worth a total US$77.6 million for seven vessels. The contracts require Ezra to charter five anchor handling, towing and supply vessels (AHTS), an anchor...

This article is for Subscriber members only.
Log In Register

CHINA: Oil firms ration diesel supplies

(EnergyAsia, March 30) — China’s oil companies have begun rationing diesel supplies as they struggle to respond to shortages in many parts of the country. Most affected are Guangdong province, Shanghai and parts of Yunnan province where cars, buses and trucks are queuing up at fuel stations. The chaotic scenes and long lines are a...

This article is for Subscriber members only.
Log In Register

MALAYSIA: Exxonmobil signs agreement for new 25-year PSC with Petronas and Petronas Carigali

(EnergyAsia, April 1, Tuesday) — ExxonMobil Exploration and Production Malaysia Inc (EMEPMI), a subsidiary of the US major, said it has signed a new 25-year Production Sharing Contract (PSC)with Malaysia’s national oil company, Petronas. EMEPMI and Petronas Carigali, a subsidiary of Petronas, will commit to implement significant enhanced oil recovery (EOR) activities and major investments...

This article is for Subscriber members only.
Log In Register

SINGAPORE: Oxford Princeton’s ‘Options Pricing and Applications’ on April 16

(EnergyAsia, April 1, Tuesday) — ‘Options Pricing and Applications’, a workshop offered by the Oxford Princeton Programme, will be held in Singapore on April 16. As options are a growing part of energy hedging and speculating, understanding how they work allow traders to make better choices. Mastering the basics through this course, delegates will learn (more…)

THAILAND: Diesel subsidies may be revived

(EnergyAsia, April 1, Tuesday) — Under populist pressure, Thailand’s government is considering reviving a plan to subsidise diesel prices to help consumers deal with the impact of rising oil prices. A subsidy scheme was cancelled in 2005 after racking up costs of almost US$3 billion over 19 months. The National Energy Board is under pressure...

This article is for Subscriber members only.
Log In Register

PAPUA NEW GUINEA: Austral Pacific Energy to sell off assets and reduce debt

(EnergyAsia, April 1, Tuesday) —New Zealand’s Austral Pacific Energy Ltd said it has agreed to sell to Horizon Energy its 28.92% interest in Papua New Guinea petroleum retention licence 4 and 10.7% interest in licence 5. The offers are subject to the pre-emptive rights in the relevant joint venture agreement, which give the existing joint...

This article is for Subscriber members only.
Log In Register

ASIA: LNG buyers in panic mode as worldwide supplies tighten

(EnergyAsia, April 1, Tuesday) — Asian energy consumers are in full panic mode as the prices of oil, gas and coal, which provide 85% of the world’s energy supply, hit record highs in the first quarter of 2008. While oil captured most of the headlines as it surged past US$100 a barrel for the first...

This article is for Subscriber members only.
Log In Register

SINGAPORE: Oxford Princeton’s ‘Fundamentals of Energy Options’ on April 15

(EnergyAsia, March 31, Monday) — ‘Fundamentals of Energy Options’, a workshop offered by the Oxford Princeton Programme, will be held in London on April 8 and Singapore on April 15. This full-day workshop which includes a trading simulation and a comprehensive review of the course, will cover premium valuation to advanced trading strategies on exchange (more…)

CHINA: Law firm Herbert Smith advised on HK$3.2 billion IPO of oil rig manufacturer

(EnergyAsia, March 31, Monday) — International law firm Herbert Smith said it advised Credit Suisse and Morgan Stanley as joint global coordinators on the HK$3.2 billion Hong Kong IPO and Rule 144A / Regulation S global offering of Honghua Group. Honghua Group, the second-largest onshore oil rig manufacturer in the world and the largest in (more…)

SINGAPORE: TPGS to help build two 5MW cogeneration plants at chemical plant site

Ltd, a wholly owned subsidiary of Japanese chemicals company, Ishihara Sangyo Kaisha, are building two 5-MW cogeneration facilities at ISK’s chemicals plant in Tuas in Singapore. As a promoter of distributed power, TPGS works closely with companies to develop, build and operate on-site combined heat and power (CHP) systems. Distributed generation refers to generating electricity...

This article is for Subscriber members only.
Log In Register

RUSSIA: Oil production could decline this year, ahead of forecasts by Energy Ministry and IEA

Arabia, could decline this year, a few years ahead of separate forecasts by the Energy Ministry and the Paris-based International Energy Agency. Bearing the grim news, Natural Resources Minister Yuri Trutnev told local reporters that rising cost, and material and labour shortages are causing work delays at oil fields across the country. The government had...

This article is for Subscriber members only.
Log In Register

PAKISTAN: ADB grant to help create energy efficiency investment programme

craft a comprehensive energy efficiency policy and investment programme to meet the growing energy demands of an expanding economy and population. ADB is providing a $600,000 grant to fund the preparation of the programme, with Pakistan contributing $100,000 to complete the funding requirement. The activities will include a comprehensive study on the energy efficiency market...

This article is for Subscriber members only.
Log In Register

JAPAN: Mitsubishi Electric claims silicon solar cell with world’s highest conversion efficiency rate

crystalline silicon solar cell with a new record photoelectric conversion efficiency rate of 18.6%. The new conversion rate in the 150-millimeter square practical use cell is an improvement of 0.6% over the company’s previous record. While silicon is an essential component in the wafers used to make solar cells, the supply of silicon has not...

This article is for Subscriber members only.
Log In Register

INDONESIA: Japan agrees to price hike for ‘delayed’ LNG cargoes

markets as shown by Japan’s quick capitulation to Indonesia’s demand in the latest round of negotiation last week. Japan has agreed to a significant price hike to obtain the four million tonnes of liquefied natural gas (LNG) that Indonesia failed to deliver under a 10-year supply contract due to expire in 2010. Apart from not...

This article is for Subscriber members only.
Log In Register

CHINA: AMSC receives new orders for wind turbine electrical components

(EnergyAsia, March 31, Monday) — Nasdaq-listed American Superconductor Corporation (AMSC), a leading energy technologies company, said it has received new orders for wind turbine core electrical components and full wind turbine electrical systems from companies in Canada and China. The buyers are now adopting and scaling up manufacturing of wind turbines designed by AMSC’s wholly (more…)

AUSTRALIA: Santos managing director John Ellice-Flint retired

and CEO, John Ellice-Flint, has retired, and will continue to work until June 30 in a consulting capacity. Executive vice president David Knox has been appointed acting CEO until a successor has been found. Santos chairman Stephen Gerlach said Mr Knox’s extensive industry experience and existing senior role within Santos meant he was very well...

This article is for Subscriber members only.
Log In Register

AUSTRALIA: Commodity exports forecast to grow 30% to record A$189 billion for FY2008

(EnergyAsia, March 28, Friday) — Australia’s earnings from commodity exports including oil, natural gas and coals are forecast to increase by 30% to a record A$189 billion in the 2008 financial year starting June 30. (US$1=A$1.05). But over the medium term, the value of those exports (in 2007-08 dollar terms) is projected to fall to (more…)

CHINA: Palm oil producer Wilmar eyes price hike

(EnergyAsia, March 28, Friday) — Singapore-based palm oil producer Wilmar International is optimistic that the Chinese government will eventually grant its request to raise prices for its products including cooking oil. The company said the prices for vegetable oils and food crops have risen sharply on the world markets in recent months, putting pressure on...

This article is for Subscriber members only.
Log In Register

MARKETS: IMF to work on and with sovereign wealth funds as their size continues to grow

(EnergyAsia, March 28, Friday) — With sovereign wealth funds (SWFs) rapidly gaining importance in the international monetary and financial system, the International Monetary Fund (IMF) said it has stepped up its work across a broad range of issues related to these state-owned funds, including their impact on global financial stability and capital flows. The SWFs...

This article is for Subscriber members only.
Log In Register

SRI LANKA: Industries threatened by power tariff increase

(EnergyAsia, March 28, Friday) — Sri Lankan business leaders fear that the increases in electricity tariffs since March 1 could lead to widespread plant closures and cutbacks. Warning that many small companies were already struggling to stay afloat before the tariff hike, the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) has...

This article is for Subscriber members only.
Log In Register

CHINA: High natural gas cost disrupts power production

(EnergyAsia, March 28, Friday) — The high cost of natural gas could soon impact China’s economy, with half of Guangdong province’s gas-fired power plants recently forced to stop operations. The power companies have laid the responsibility for their decision on the government for refusing to let them pass on the higher gas cost to customers....

This article is for Subscriber members only.
Log In Register