CHINA: Government sets wholesale fuel stock levels at 15 days of supply

(EnergyAsia, April 30, Wednesday) — China’s refined oil traders will need to maintain a minimum commercial reserve of 15 days of sales effective May 1 under a new mandate issued by the central government. The measure is aimed at reducing the fuel shortages and rationing that have plagued China over the past year and to...

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INDIA: IOC plans big refining expansion

(EnergyAsia, April 30, Wednesday) — Indian Oil Corporation (IOC) plans to boost its 47 million tonnes of refining capacity to 80 million tonnes per year by 2012 in a bid to make India a leading oil refining hub in the world. IOC’s projects include a large petrochemicals complex at Panipat in the northern state of...

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INDIA: Hyderabad airport has lowest aviation fuel cost

(EnergyAsia, April 30, Wednesday) — India’s airlines are making a beeline for the Rajiv Gandhi International Airport (RGIA) in Hyderabad to fill up their planes because it offers the country’s cheapest aviation turbine or jet fuel. The low cost is due to the airport’s new open-access competitive systems for jet fuel supplies and a sharp...

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INDIA: Reliance aims to expand oil storage capacity

(EnergyAsia, April 30, Wednesday) — India’s Reliance Industries is seeking to acquire or invest in oil storage terminals in key locations around the world as it embarks on a more aggressive global trading strategy. This will take into account the start-up of its new 580,000 b/d export refinery at Jamnagar in India’s western Gujarat state...

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JAPAN: Nippon Oil to convert refinery to oil terminal

(EnergyAsia, April 30, Wednesday) — Nippon Oil, Japan’s biggest oil refiner, plans to convert its majority-owned Toyama refinery into an oil storage terminal facility from next March. The move comes amid declining oil demand in Japan, the world’s third-biggest consumer of oil. The 60,000 b/d Toyama refinery in northern Japan is operated by Nihonkai Oil,...

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MARKETS: US to fill up storage tanks despite high oil price

(EnergyAsia, April 30, Wednesday) — The US government will continue to buy crude oil for its strategic petroleum reserves (SPR) even with oil prices holding are well above US$100 a barrel, officials said. The US Energy Department expects to spend almost US$600 million to replace the 11 million barrels of crude it sold to refineries...

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PHILIPPINES: Petron looks at alternative storage site to Pandacan

(EnergyAsia, April 30, Wednesday) — Philippine oil firm Petron is looking for an alternative storage site to replace its Pandacan oil depot which is under orders by the Supreme Court to be relocated.   One option would be for a build-operate-transfer deal under which a third party investor would finance the construction of a new...

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VIETNAM: Partners sign up for 200,000 b/d Nghi Son refinery project

(EnergyAsia, April 30, Wednesday) — PetroVietnam has signed a joint venture deal with Japanese and Kuwaiti partners for a $6 billion oil refinery-petrochemicals complex in Nghi Son in Thanh Hoa province.  PetroVietnam will be teaming up with Kuwait Petroleum International (KPI), and Japan’s Idemitsu Kosan and Mitsui Chemicals to build the plant located south of...

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AUSTRALIA: Citing rising fuel costs, Qantas raise ticket prices by 3% to 3.5%

(EnergyAsia, April 30, Wednesday) — Citing the threat of rising fuel costs, Australia’s Qantas airlines said it will suspend share buybacks and raise air fares from May 9 to maintain profitability. Domestic fares will increase by approximately 3.5% while international fares will rise by around 3% for all Qantas and QantasLink routes across all classes....

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INDIA: Hong Kong’s CLP Power invest Rs5 billion in Jamnagar wind power plant

(EnergyAsia, April 30, Wednesday) — The power plant of Hong Kong-based’s CLP-owned Samana Wind Farm was recently inaugurated by the Chief Minister of India’s Guarant state, Narendra Modi at a reception attended by Energy Minister Shri Saurabh Patel and Minister for Water and Irrigation Shri Nitin Patel. CLP India will invest Rs5 billion in the...

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CHINA: Support for Nigeria to build greenfield refineries

(EnergyAsia, April 29, Tuesday) — China and India are ready to help build new oil refineries in Nigeria, which increasingly is exporting its crude to Asia. The refineries would process Nigerian crude for its domestic market as well as for export of finished products to China and India. Despite its role as Africa’s largest oil...

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MARKETS: Australian professor sees the end of the car age

(EnergyAsia, April 29, Tuesday) — Car travel is not sustainable and needs to be drastically curbed to help reduce global greenhouse gas emissions, a professor from Australia’s Monash University argued in a new research paper. Damon Honnery said governments must focus on phasing out private car travel, for the sake of energy efficiency and lower...

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ASIA: IMF predicts slower economic growth and rising inflation threat for 2008

(EnergyAsia, April 29, Tuesday) — The International Monetary Fund (IMF) has predicted Asia’s economic growth to slow down by 1.25 percentage points to 6.2% in 2008 due to the weak outlook for the advanced economies. While Asia’s prospects will remain buoyant, led by continued strong performances by China and India, the IMF’s April Regional Economic...

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INDIA: IndianOil Corp says 2007 sales volume grew 8.7% to 58.3 million tonnes

(EnergyAsia, April 29, Tuesday) — IndianOil Corp said its share of the domestic oil market grew to 48.9% in FY2007 following an 8.7% rise in its sale of oil products. As its refineries increased production, the company saw sales hit a record 58.3 million tonnes while export of oil products rose 8.5% to 3.3 million...

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NEW ZEALAND: Contact Energy to purchase two 100MW gas-fired peaking plant

(EnergyAsia, April 29, Tuesday) — Two hundred megawatts of highly efficient gas-fired peaking capacity to support increasing levels of renewable electricity generation have come a step closer, with Contact Energy executing contracts to purchase two fast-start gas turbine peaking units. Contact Energy CEO, David Baldwin, recently signed an agreement with General Electric (GE) to purchase...

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CHINA: Upstream giant CNOOC to complete first oil refinery in October

(EnergyAsia, April 29, Tuesday) — China National Offshore Oil Corporation (CNOOC) said it is on track to complete its new 12-million tonne per year refinery at Huizhou in the southern province of Guangdong in October. It will be the upstream company’s first oil refinery, which could be eventually expanded to 24- million tonnes per year....

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CHINA: Hong Kong’s ‘Eco Expo Asia’ from October 28 to 31 to feature four new highlights

(EnergyAsia, April 29, Tuesday) — ‘Eco Expo Asia’ will be held at the AsiaWorld-Expo in Hong Kong from October 28 to 31 and will feature four new topics:  Air Quality, Eco-friendly Products, Energy Efficiency and Waste and Recycling. The US Commercial Service published a report in 2007 called ‘Hong Kong (Pearl River Delta): Pollution Prevention (more…)

SINGAPORE: ‘Aviation Outlook and Jetfuels 2008’ at Hotel Intercontinental from June 25 to 26

(EnergyAsia, April 29, Tuesday) — ‘Aviation Outlook and Jetfuels 2008’ will be held at the Hotel Intercontinental in Singapore from June 25 to 26. With aviation fuel becoming a bigger cost component for airlines, the industry needs to urgently address this growing threat to their survival. The conference will address the key initiatives in driving (more…)

SINGAPORE: ‘Investing in Infrastructure Assets Asia 2008’ at Grand Hyatt from June 9 to 13

(EnergyAsia, April 29, Tuesday) — ‘Investing in Infrastructure Assets Asia 2008’will be held at the Grand Hyatt Hotel in Singapore from June 9 to 13. The event will bring together global investors from five continents to meet infrastructure owners and regulators from over 10 countries to discuss the regulatory investment climate in Asia, how to (more…)

SINGAPORE: Stolt-Nielsen awarded ‘opportunity’ to build chemical storage terminal on Jurong Island

(EnergyAsia, April 29, Tuesday) — Norway’s Stolt-Nielsen SA said its Stolt Tankers & Terminals (ST&T) division has been awarded the opportunity to construct a chemical storage terminal on 15 hectares of vacant land on Singapore’s oil and petrochemicals hub on Jurong Island. The Oslo-listed company said it has received a formal notice of the award (more…)

SINGAPORE: ‘Asia Gas 2008 Conference’ at Grand Copthorne Waterfront from May 28 to 30

(EnergyAsia, April 28, Monday) — ‘Asia Gas 2008 Conference’ will be held at the Grand Copthorne Waterfront Hotel in Singapore form May 29 to 30. The conference will feature case studies on Indonesia’s gas industry and its stake in the domestic power market with demand trends and opportunities in the country’s gas to power market, (more…)

INDONESIA: ‘Infrastructure Security in Oil and Gas 2008’ to be held in Jakarta from May 27 to 28.

(EnergyAsia, April 28, Monday) — The security and availability of oil is critical as it directly affects the world’s economic, political and social stability. ‘Infrastructure Security in Oil and Gas 2008’ which will be held at the Le Meridien Hotel in Jakarta, Indonesia from May 27 to 28 will address current issues faced by the (more…)

PAKISTAN: Refining capacity reaches 13.5 million tonnes per year

(EnergyAsia, April 28, Monday) — Pakistan’s total refining capacity now stands at 13.5 million tonnes per year, although actual output is only just under 11 million tonnes per year. The country’s largest refiner is Pak-Arab Refinery Limited (PARCO) with a capacity of 4.5 million tonnes per year. The other refiners include Pakistan Refinery Limited (ARL)...

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MARKETS: Oil needs to stay above 70 per barrel to support new projects, says Total

(EnergyAsia, April 28, Monday) — Oil prices will have to stay above US$70 per barrel to justify investments in exploration and production projects, French oil major Total reckons.  Crude oil prices have stayed above $100 for most of 2008, touching a record $119.90 on April 22. Like most companies, Total is under growing pressure to...

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MALAYSIA: Kedah oil refinery, storage project now pegged at RM83billion

(EnergyAsia, April 28, Monday) — The budget for a proposed oil refinery project in Malaysia’s Kedah state has reached a new high of RM83 billion, up from earlier estimates of RM50 billion. (US$1 = RM3.13). Its promoters blamed the increased cost estimate on the decision to locate the “Kedah Hydrocrabon Hub” on a four-sq-km man-made...

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