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 contact Admin@EnergyAsia.com.

Rotary Engineering, Chia Kim Piow
Rotary Engineering chairman and MD Chia Kim Piow shares his thoughts on the oil and gas industry in the face of rising costs, the global competition for labour and talents, and the turbulence on the world financial markets.
Rotary Engineering, a market leader in providing engineering design, procurement, construction and maintenance services which serves the oil, gas, petrochemical and pharmaceutical industries, has just reported its best ever set of financial results for FY 2007
 
Shell Global Solutions International, Suleyman Ozmen
Shell Global Solutions International CRI-Criterion Global Licensing General Manager, Suleyman Ozmen, on its effort to help oil refiners in Asia and the Middle East reduce their environmental impact and improve their profitability.
Shell Global Solutions provides business and operational consultancy, technical services and research and development expertise to the energy and processing industries worldwide.
 
Australian High Commissioner to Singapore, Miles Kupa
Mr Miles Kupa talks about how Australia-Singapore trade and investment ties will benefit if Woodside Energy is awarded the contract to supply LNG to Singapore.
 
Woodside Energy, Don Voelte
Mr Voelte answers the following: Why Woodside wants to sell LNG to Singapore even though it has other ready buyers. Will Singapore have to pay record prices for Woodside’s LNG supplies. Will spot LNG trading emerge?
As a pioneer upstream company, Woodside has grown to become Australia’s largest independent producer of oil and gas and one of the world’s largest LNG producers with large operations and interests around the world.
 
CWC School of Energy, A. Pedro van Meurs
Dr van Meurs, an expert on world fiscal systems for the oil and gas industry, comments on the recent outbreak of resource nationalism among oil producing countries including the dispute between ExxonMobil and Venezuela, and the situation in Alberta, the US and Russia. The CWC School for Energy offers key training courses for international oil, gas and power industry executives.
 
Royal Vopak, John Paul Broeders
Chairman John Paul Broeders speaks on growth prospects for the Dutch oil and chemical logistic and storage firm in some of the world’s fastest growing economies
 
Chesterton International, Patrick Foong
Chesterton International is a leading provider of integrated services in the domestic and international property markets. Senior executive director Patrick Foong sees huge potential in bringing energy savings and efficiency to the thousands of commercial buildings in Singapore.
 
Banyan Utilities Pte Ltd,  Pete Tin
Managing Director Pete Tin was the prime mover in launching Banyan Utlities Pte Ltd which is building a 5-MW cogen power plant on Jurong Island.
 
Federal International (2000) Ltd, Sanjeev Gupta
Executive director and chief operating officer Sanjeev Gupta explains how Federal International entered the carbon credit business through its 60% stake in Banyan Utlities, and how the new business will boost the company’s cash flow over the next 12 years.
Established in 1974, Federal International (2000) Ltd  distributes, procures, sells, modifies and installs high-grade pressure flowline control, electrical and marine products for the oil, gas, petrochemical and refinery industries.

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 fourth-most populous…

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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…

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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 handling…

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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 repeat…

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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 to…

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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 how to use the fast-changing markets to their advantage to achieve the most out of their option positions.

This full-day workshop will enable delegates to understand the dynamics of options and to practise these skills through Oxford Princeton’s unique trading simulation.

Topics covered include the impact of option deltas on profits and losses, effects of option gamma on price exposure, benefits and costs of time decay, market volatility and its effects, hedging techniques, combining options to create other options, characteristics of extrinsic (time) value, calculating option values, exercise styles and their impact, options on price spreads, and what pricing models do not measure.

As part of Oxford Princeton’s blended learning package, PrincetonLive.com’s ‘Hedging with Futures and Options’ is recommended as a pre-classroom study. Delegates are advised to take the appropriate online study as close to the classroom date as possible to optimise the classroom experience.

This class is suitable for all levels from trade support staff to senior management. This programme will cover the different energy commodities.

For more information on this course and other courses offered, please contact Admin@EnergyAsia.com.

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 to soon…

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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 venture…

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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 time…

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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 traded options and energy commodities such as oil, gas and electricity.

Topics covered include characteristics and profit and loss profiles of calls and puts, ‘anatomy’ of an option, option ‘holder’ versus option writer, the different styles of options (American and European), intrinsic and extrinsic value calculations, ‘Black-Scholes’ options pricing model, importance of historical and implied volatility, characteristics of premiums, the ‘Wasting Asset Theory’ and definitions of delta, gamma, vega and theta.

As part of Oxford Princeton’s blended learning package, PrincetonLive.com’s ‘Options Always Die’ is recommended as a pre-classroom study. Delegates are advised to take the appropriate online study as close to the classroom date as possible to optimise the classroom experience.

This class is recommended for trade support staff, senior management, professionals who require the basics on futures terminology and trading and, as a refresher course for those who would like to sharpen their skills on futures terminology and trading. This programme will cover the different energy commodities which include oil, gas and electricity.

Participants are required to complete Princeton Energy Programme’s ‘Fundamentals of Energy Futures’ before enrolling for ‘Fundamentals of Energy Options’.

For more information on this course and other courses offered, please contact Admin@EnergyAsia.com.

BRAZIL: Coal conference in Rio De Janeiro on May 12 to 13

(EnergyAsia, March 31, Monday) — ‘Coaltrans Brazil’ will be held at the Sofitel Hotel in Rio de Janeiro from May 12 to 13.

The rapidly growing economies of India and China, as well as Brazil’s increasing domestic demand for steel, continues to drive the growth of steel production, said organisers CoalTrans Conferences.

An additional 21.9 million tonnes per year of steel production is expected to push the country’s steel production to 59 million tonnes by 2012. Together with thermal power projects, a 25% increase in coal requirements over the next two years is anticipated. Latin America plans to increase coke production capacity over the next two years by 3.93 million tonnes.

As coal imports increase by 32% over the next two years and new slabs-for-export projects come on line, the strains on port infrastructure will be higher than ever. This, combined with the volatility of the freight markets, make this year’s logistics session a key focus for procurers of raw materials in Brazil.

Thermal coal in Brazil’s energy sector has traditionally played a relatively small role, but times are changing. Concern over energy security has led to the planned development of coastal power plants using imported thermal coal, making thermal power developments a major talking point for Brazil’s coal users.

‘Coaltrans Brazil’ provides a unique platform for discussion, uniting BSMs with the producers, traders and shippers of met coal, as well as focusing strongly on the need for energy security in Brazil.

The conference will explore current and future developments in the Brazilian steel and new capacity and expected coal requirements, examine new opportunities and challenges for coking coal procurement in the Latin American metallurgical industry, provide delegates with insights into the expanding role of thermal coal in the country’s energy industry, analyse key fundamentals in freight and logistics and provide networking opportunities for the consumers and producers of coal in the market.

Speakers include Luiz Fernando Sarcinelli Garcia (Sage Consultoria Tecnica), Rinaldo Campos Soares and Eduardo Costa de Faria (USIMINAS), Renato Paladino, Fabio Brasileiro and James Pessoa (Vale), Jackson Chiabi Duarte (ArcelorMittal Tubarão), Edmo Chagas (UBS Pactual), Lucio Teixeira Coelho (Comexport), Graham Wailes (AME Mineral Economics), Douglas Fagundes Moreira (Solid Fuels), Franz Blancquaert (ArcelorMittal), Richard McLaughlin (Hatch Beddows), John Hogg (Western Canadian Coal Corp), Terry Hale (Patriot Coal Company), Jairo Caicedo (C. I. Milpa S. A.),  Australian junior miners, Kevin Kanamori (QCoal Pty Ltd), Peter Malpas (Braemar Seascope Group), Marcelo Perrupato (Ministry of Transport, Brazil),

Pedro Brito do Nasciment (Special Secretariat of Ports, Government of Brazil), Paulo Manoel Lenz Cesar Protasio (ANUT), Ricardo Atunes (LLX Logistica SA), Henrique Rodrigues (Fertimport S.A.), Stirling Leech (Clyde & Co), Andrew Jones (Resource-Net), Diamantino A. Carvalho (SOL Coqueria Tubarão), Arun Kumar Jagatramka (Gujarat NRE Coke Ltd), Gennady Lotsman (JSC Siberian Anthracite), Claudio Monteiro (Cosipar Group), João Carlos de Oliveira Mello (Andrade & Canellas Consulting and Engineering), Claudio Sales (Instituto Acende Brasil), Xisto Vieira (MPX Energia), Martin Bloemendal (Energy Edge Ltd), Fernando Zancan (Brazilian Coal Association) and Donizete Macedo Costa (ERM do Brasil).

Delegates will have a chance to visit a Sol Coqueria, a fully operational coke plant, and a steel mill, ArcelorMittal Tubarão, on May 14.

For more information, please contact Admin@EnergyAsia.com.

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 China, sold 25% of its enlarged share capital, or 833.36 million shares. The 70% institutional tranche was more than 11 times covered, while the retail tranche attracted about 28 times the number of shares on offer.

This triggered a partial clawback that boosted the size of the retail tranche from 10% to 30% of the total. Trading began on March 7.

Herbert Smith said it advised on both the Hong Kong and US law aspects of the IPO.

The team was led by Shanghai-based partner Gary Lock and Hong Kong-based US Securities partner Kevin Roy. They were assisted by senior associate Jeffrey Yang, and associates Jonathan Barkey, Su-Li Chan, and Vivian Wang.

Mr Lock said: “This latest transaction for Credit Suisse and Morgan Stanley is a further demonstration of the value we deliver to the major investment banks. Our China expertise combined with a leading Hong Kong team is an attractive offering for our clients.”

Mr Roy said: “We are very pleased to have represented Credit Suisse and Morgan Stanley and brought this transaction to a successful close. This is the latest in a number of successful deals we have worked on for both banks. Our reputation as one of the leading practices in the China-Hong Kong market continues to grow.”

Honghua Group was advised by Arculli Fong & Ng on matters of Hong Kong law, Latham & Watkins LLP on matters of US law, King & Wood on matters of PRC law, and Appleby on matters of Cayman Islands law.

Herbert Smith operates a leading China practice from its well-established presence in Beijing, Shanghai and Hong Kong. The firm has one of the leading equity capital markets practices in Asia.

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…

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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…

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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…

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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…

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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…

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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 owned subsidiary, AMSC Windtec. The wind turbine core electrical components include the company’s proprietary PowerModule™ power converters and enable reliable, high-performance wind turbine operation by controlling power flows, regulating voltage, monitoring system performance and controlling the pitch of wind turbine blades to maximise efficiency.

Dongfang Steam Turbine Works (DTC), the third largest wind turbine manufacturer in China, placed its first order for complete electrical systems for four 2.5 megawatt (MW) wind turbines it plans to manufacture and test in early 2009. AMSC Windtec is developing a portfolio of 2.5 megawatt (MW) wind turbines under a contract it received from DTC in March 2007.

With 7,000 employees, DTC is one of the top 100 machinery builders in China and a key equipment provider in Sichuan province. DTC entered the wind power market in 2004 with the production of 1.5 MW systems utilising a wind turbine design provided by a third party. The company plans to start series production of the wind turbines by end-2009.

These latest orders bring the total amount of wind power to be supported by AMSC products to 6.6 gigawatts, equivalent to approximately seven percent of the worldwide installed base of wind generated electricity as of December 2007.

“This series of new orders for wind turbine core electrical components further validates our AMSC Windtec business model,” said AMSC founder and CEO Greg Yurek. “AMSC Windtec helps to quickly establish new wind turbine manufacturers by providing wind turbine designs and helping with local sourcing of core wind turbine components.

“Once our customers go into production of wind turbines, we then sell them the sophisticated core electrical components necessary to operate these systems successfully and efficiently. The sale of wind turbine core electrical components has, in fact, become a very large fraction of our business.

“With the customers we signed in 2007 now beginning to order core electrical components to meet their wind turbine manufacturing needs and new licensees and development partners on the near-term horizon, we expect our wind power business to continue to grow and diversify going forward.”

About 65% of AMSC’s revenues in fiscal 2007, which ends March 31, 2008, are expected to be from the global wind industry.

Mr Yurek said: “This fiscal year, roughly 70% of our sales are international, with the lion’s share of these sales coming from the wind industry.

“With the wind industry expected to continue to grow at double-digit rates for many years to come, we expect sales to this market will remain a large fraction of AMSC’s revenue makeup – even as we continue to ramp up sales of our other products to the power grid market worldwide.”

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…

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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 A$176 billion in 2012-13.

This and other commodity projections out to 2012-13 are contained in the March quarter issue of the Australian Commodities report published by the Australian Bureau of Agricultural and Resource Economics (ABARE).

“The growth in export earnings forecast for 2008-09 mainly reflects increased shipments of iron ore, coal, gold, LNG, grains and oilseeds in response to strong demand in overseas markets,” said Phillip Glyde, ABARE’s executive director.

The total value of minerals and energy exports is forecast to rise by 33% to a record A$153 billion in 2008-09, following a forecast rise of 7% to A$115 billion in the current year.

In 2008-09, iron ore is forecast to be Australia’s largest export commodity (in value terms), followed by metallurgical coal, thermal coal, gold and crude oil. Australia’s largest agricultural export commodity (in value terms) is wheat, ranked 10th overall in commodity export earnings.

Under an assumption of average seasonal conditions, the value of farm exports is forecast to be A$31 billion in 2008-09, an 18% increase on the previous year. Export earnings are forecast to increase for grains and oilseeds, cotton, sugar, wine, beef and veal, lamb and most dairy products.

Mr Glyde noted that if grain growing areas, particularly in southern Australia, receive a good autumn seasonal break, there is a very good chance of a bumper winter grains crops in 2008-09. Given reasonable seasonal conditions, some sheep flock and cattle herd rebuilding is expected to occur in 2008-09.

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 its…

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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 have…

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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 demanded…

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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. Beijing…

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