(EnergyAsia, March 28, Friday) — Japan’s Mitsubishi Electric Corporation said it will invest around seven billion yen to expand the production capacity of photovoltaic (PV) cells at its Nakatsugawa Works Iida factory in Nagano prefecture, and modules at its Nakatsugawa Works factory in Kyoto prefecture in response to rising demand for solar power generation systems....
(EnergyAsia, March 28, Friday) — ‘Energy Risk Asia’ will be held at the Sheraton Towers in Singapore from May 13 to 14. With Asia becoming an increasingly important region for energy trading, ‘Energy Risk Asia 2008’ will examine ways to adapt cutting-edge energy risk management models to the latest market developments. The event will feature (more…)
(EnergyAsia, March 28, Friday) — India’s Essar group is keen to bid for a deep-sea port project in West Bengal state to support its flourishing manufacturing industries. The state has attracted several new steel projects, which would require the import and exports volumes of raw materials and finished products from the port, making it an...
(EnergyAsia, March 28, Friday) — Dubai’s private equity company Abraaj Capital said it has bought a 40% stake in the oil refining and chemical subsidiaries of Pakistani energy firm Bosicor. Abraaj said it plans to expand the oil refining and chemical businesses of Bosicor Oil Pakistan Ltd and Bosicor Chemical Pakistan Ltd. Bosicor Oil owns...
(EnergyAsia, March 28, Friday) — China’s Suntech Power said it plans to offer an aggregate of $425 million convertible senior notes due 2013, in a private offering to qualified institutional buyers. The interest rate, conversion price and other terms of the notes will be determined at the time of pricing of the offering. Suntech...
symbolised the oil shocks of the 1970s, consumers have taken a while to register the impact of the quadrupling of oil prices over the last five years. Long distance truckers, who perform a vital role in operating the country’s internal trade supply line, may have sounded out the first significant reaction against rising fuel prices...
funds for expansion of its operations in China’s Liaoning province. The company plans to invest one-billion yuan to invest in 12 tanks to store 1.2 million tonnes of crude oil. (US$1=7.05 yuan). The bulk of the capacity will store crude oil from PetroChina’s Daqing field. The port must also expand to deal with a rise...
Gujarat state at capacity, a few weeks ahead of its original start-up schedule. The Vadinar unit is one of only two private refineries in India. Like Reliance’s 660,000 b/d Jamnagar refinery, also in Gujarat, Essar exports most of its output. Essar plans to invest US$6 billion in the coming years to expand the 10.5-million-tonne per...
finance the build up of its strategic petroleum reserves (SPR). The government is setting up SPR terminals at Visakhapatnam in Andhra Pradesh state, and in Mangalore and Padur near Udipi in Karnataka to store a total of five million tonnes of oil for emergency use. In 2005, the Ministry of Petroleum & Natural Gas had...
desperate move to secure a cut of the Islamic regime’s huge natural gas reserves. Already, Iran is China’s third largest oil supplier. Last month, China National Offshore Oil Corporation (CNOOC) signed a major US$16 billion agreement with Iran’s Pars Oil and Gas Company to help exploit and purchase gas from the Pars field in northern...
International Company Ltd and PetroChina Sichuan Petrochemical Company Limited (PSP), which are subsidiaries of China National Petroleum Corporation (CNPC), for the use of Shell’s ethylene oxide/ethylene glycol (EO/EG) process in a new petrochemical plant near Chengdu, Sichuan province. Shell’s leading EO/EG process and CRI Catalyst Company‘s EO catalyst will be used in the plant that...
agreement to acquire Primex Energy Brokers Ltd for a total of $40 million. The sum comprises $3.7 million in cash and $22.3 million in 2,262,196 of Tullett Prebon plc ordinary shares payable on completion, with a further $14 million in another 1,420,212 Tullett Prebon ordinary shares payable in 2011 subject to earn-out targets being achieved....
western state of Perak looks to be in doubt now as its proponent has threatened to pull out after complaining about the lack of government support. Gulf Petroleum Ltd said the consortium it is leading might consider setting up the proposed 150,000 b/d integrated refining and petrochemical complex in a neighbouring country if it faced...
(EnergyAsia, March 27, Thursday) — The ‘11th Annual Asia Power & Energy Congress’ will be held at the Grand Hyatt in Singapore from March 31 to April 4. The conference will help delegates understand Asia’s regulatory roadmap and its implications on power generation, transmission and distribution, assess the impact of a carbon economy on power...
(EnergyAsia, March 27, Thursday) — ‘Transmission & Distribution Asia 2008’ will be held at the Grand Hyatt from March 31 to April 3 in conjunction with the 11th Annual Asia Power and Energy Congress. The event will gather transmission and distribution companies, electricity retailers, power generators, regulators, financiers, investors, legal firms, consultants and technology experts...
end if the government stands firm on its decision to withdraw a seven-year tax holiday for new projects. Several projects on the drawing board could be threatened, said their supporters. This includes Indian Oil Corp’s (IOC) 15-million-tonne-per-year Paradip project, Hindustan Petroleum’s nine-million-tonne-per-year Govind Sagar refinery in Punjab, and Bharat Petroleum’s six-million-tonne-per-year Bina refinery. IOC...
to demand that China set aside their 2006 contract agreement to pay more for liquefied natural gas supplies from the Tangguh field. The chairman of Indonesia’s state regulator BPMIGAS Kardaya Warnika recently told local reporters the agency plans to press China National Offshore Oil Corp (CNOOC) to pay a higher price for LNG to...
liquefied natural gas (LNG) project in Australia if offered the opportunity. The company, which recently signed a 15-20 year deal to import between two and three million tonnes of LNG from Woodside, views Australia as a stable and reliable long-term energy supplier. The deal, valued at between A$35 and A$45 billion, is a world...
(EnergyAsia, March 26, Wednesday) — The ‘2008 Asia Oil and Gas Pipeline Congress’ will be held in Beijing, China from May 22 to 24. Every year, companies add an estimated 25,000 km of oil and gas pipelines to their network. The conference will focus on international pipeline projects opportunities, pipeline technology and construction process, outlook (more…)
(EnergyAsia, March 26, Wednesay) — ‘SPE EOR Technical Conference’, a conference focused on enhanced oil recovery including chemical, thermal and gas technologies, will be held in conjunction with the ‘Oil and Gas West Asia 2008’ (OGWA) exhibition at the Golden Tulip Hotel in Oman on April 21 to 23. Organised by the Society of Petroleum (more…)
(EnergyAsia, March 26, Wednesday) — The organisers of ‘Gastech 2008’ said the 23rd international conference and exhibition for the LNG, LPG and natural gas industries held in Bangkok, Thailand on March 10 to 13 achieved record participation with 300 exhibiting companies and more than11,500 delegates from over 50 countries. ‘Gastech 2008’, hosted by Thai state-owned (more…)
sector following its decision to invest in an oil refinery and a fuel storage project. Kuwait Petroleum Co (KPC) will partner with the China Petroleum and Chemical Corporation and the Guangdong provincial government to build a 15-million-tonne oil refinery in the province, said local officials. The Kuwaiti government has promised to supply the crude...
oil storage and port businesses of Dutch company Greenoak Group for an undisclosed amount. Greenoak took over the Batumi oil terminal and sea port in 1999, investing more than $200 million to establish it as a viable business serving the surrounding markets in Georgia. The terminal has the capacity to store more than 15 million...
plans to exercise an option to take over Abu Dhabi-based IPIC’s 70% stake in refiner Hyundai Oilbank Corp. IPIC earlier said it wanted to sell its stake to other companies, which Hyundai claims violates a shareholder agreement with Hyundai group of companies. HHI which owns a 19.87% stake in Oilbank said it has first right...
reserve (SPR) base in its far western Xinjiang Uygur Autonomous Region. The 6.5-billion-yuan terminal in Shanshan county will store emergency oil supplies from Xinjiang and neighbouring oil producing country Kazakhstan. (US$1=7.05 yuan). China now has two operating SPR bases in Zhejiang province and is building another two facilities in Shandong province and Liaoning provinces. China...