CHINA: Sinopec to boost capacity at Zhenhai refinery

(EnergyAsia, May 28, Wednesday) — China’s refining giant Sinopec plans to increase the capacity at its Zhenhai plant by 15% to 23 million tonnes per year. The expansion would help meet the country’s rising demand for petrochemical feedstocks, Sinopec said. The company, Asia’s largest oil refining, is building a one-million tonne per year ethylene plant (more…)

CHINA: PetroChina re-starts small refinery after earthquake

(EnergyAsia, May 28, Wednesday) — PetroChina said it has resumed operations at a small oil refinery in Sichuan province following an outage after a massive earthquake struck the region on May 12 killing an estimated 80,000 people. The 28,000 b/d refinery at Nanchong, east of Chengdu city, was knocked out for more than two days, (more…)

SAUDI ARABIA: Aramco and Total confirm building 400,000 b/d Jubail oil refinery

(EnergyAsia, May 28, Wednesday) — State-owned Saudi Aramco said it and French major Total have both confirmed their decision to invest in a 400,000 b/d full-conversion refinery in Jubail city in Saudi Arabia. The refinery will process Arabian Heavy crude to high–quality refined products that will meet the most stringent global product specifications and is (more…)

INDIA: UOP Technology to supply technology to ONGC’s aromatics plant

(EnergyAsia, May 28, Wednesday) — UOP LLC, a Honeywell company, said it has been selected to supply technology, basic engineering services and equipment to ONGC Mangalore and Petrochemicals Ltd’s new aromatics complex in Mangalore, India. The new complex is expected to produce 900,000 metric tons per year of paraxylene and about 275,000 metric tonnes of (more…)

INDIA: Suzlon reports high growth for FY2008

(EnergyAsia, May 28, Wednesday) — Suzlon Energy Limited, the world’s fifth leading wind turbine maker, said its revenues for the financial year ended March 31, grew by 71% to 136,794.3 million rupees. (US$1=Rs40). The company reported consolidated wind turbine sales volume of 2,311 MW, compared to 1,456 MW for a growth of 59%. Profit after (more…)

SINGAPORE: Oxford Princeton’s ‘Fundamentals of Technical Analysis’ from June 18 to 19

(EnergyAsia, May 27, Tuesday) — The Oxford Princeton Programme’s ‘Fundamentals of Technical Analysis’ workshop will be held in Singapore from June 18 to 19. The workshop aims to provide an understanding of technical analysis, common indicatiors and ways to use it. A trading simulation will allow delegates to make trading decisions based on the indicatiors. (more…)

BOOK: ‘Wind Energy Handbook’ on using wind energy to generate electricity

(EnergyAsia, May 27, Tuesday) — The ‘Wind Energy Handbook’ draws on the collective industrial and academic experience of several experts to highlight the interdisciplinary nature of wind energy research and provide a comprehensive treatment of wind energy for electricity generation. As environmental concerns focus attention on the generation of electricity from clean and renewable sources, (more…)

SAUDI ARABIA: Aramco and ConocoPhillips confirm 400,000 b/d Yanbu export refinery project

(EnergyAsia, May 27, Tuesday) — State-owned Saudi Aramco and US independent ConocoPhillips said they have approved funding and will proceed to build a 400,000 b/d export oil refinery in the Saudi Arabian coastal town of Yanbu. The refinery is being designed to process Arabian heavy crude which would be supplied by Saudi Aramco. Due to (more…)

MARKETS: ESAI predicts diesel will stay at premium to gasoline throughout summer

(EnergyAsia, May 27, Tuesday) — The Atlantic Basin diesel market is so fundamentally constrained that it is driving both diesel and gasoline prices, forcing diesel higher and holding down gasoline, said US consultant ESAI. In the May issue of The Atlantic Basin Stockwatch Marketview, a six-month outlook on Atlantic Basin product markets, ESAI said that (more…)

MALAYSIA: SunPower to build 1GW solar-cell fab

(EnergyAsia, May 27, Tuesday) — Nasdaq-listed SunPower Corporation, a Silicon Valley-based manufacturer of high-efficiency solar cells, solar panels and solar systems, has announced plans to build its third solar cell fabrication plant in Malaysia. The one-gigawatt manufacturing facility is expected to be constructed in two phases, with the first phase comprised of 14 solar cell (more…)

KOREA: Economy could shrink if Dubai crude exceeds US$150 a barrel

(EnergyAsia, May 27, Tuesday) — Analysts have been busily slashing their forecasts for South Korea’s economic growth as oil prices continue to rise to new highs. At least one forecast by the Samsung Economic Research Institute warned that the economy could shrink if the Dubai crude price exceeded $150 a barrel, repeating the outcome of (more…)

COMPANIES: DNV acquires US wind consulting firm GEC to achieve global wind leadership

(EnergyAsia, May 27, Tuesday) — Norway’s DNV said it has acquired US-based wind consultancy company Global Energy Concepts (GEC). The combination of DNV’s global energy risk management expertise and GEC’s engineering and technical services establishes a leading player within the global wind power consultancy market. DNV said the acquisition will enable it to provide expanded (more…)

CHINA: Puda Coal reports 11.6% rise in first quarter net profit to S$4.3 million

(EnergyAsia, May 27, Tuesday) — Puda Coal Inc, a US-listed supplier of China’s high grade metallurgical coking coal for the production of steel, said its first quarter net income rose 11.6% to S$4.3 million or $0.04 per share on a fully diluted basis compared with the same quarter 2007. Revenue surged 35.2% to a record (more…)

BAHRAIN: Ithmaar Bank, Kazakhstan state agency launched $1 billion regional energy fund

(EnergyAsia, May 27, Tuesday) — Bahrain’s Ithmaar Bank said it and Kazyna Capital Management, a subsidiary of Kazakhstan’s Sustainable Fund, Kazyna, have launched the $1 billion Ithmaar Kazyna CIS Energy Fund. Expected to have a term of ten years, the fund will target to meet the need for investment in the energy and energy-intensive sectors (more…)

AUSTRALIA: Tasmania inviting public comment to help improve management of underground fuel tanks

(EnergyAsia, May 27, Tuesday) — Public comment is being sought on methods to improve the environmental management of 1,000 underground fuel tanks in Australia’s Tasmania state. Releasing a paper canvassing options to manage the impacts of underground fuel storage systems, Tasmania’s Minister for Environment, Parks, Heritage and the Arts, Michelle O’Byrne, said leaking underground fuel (more…)

QATAR: WOQOD commissions new storage tanks at Messaimer

storage tanks each of 10 million liters of capacity at its distribution depot in Messaimer. The 60-million-riyal project includes loading pumps and support facilities. (US$1=3.64 rial). WOQOD’s vice-chairman and managing director, Mohammed Turki Al Sobai, said: “This investment is further evidence of WOQOD’s intent to invest in major capital projects to ensure that facilities are (more…)

SINGAPORE: EnergyAsia interviews Energy Market Authority on development of the LNG industry

(EMA), announced it had awarded the UK-based natural gas company BG Group the role of exclusive supplier and demand aggregator of liquefied natural gas (LNG).   EnergyAsia submitted a number of questions to the EMA on a range of issues facing Singapore’s entry into the LNG business. 1. Safety and security concerns. As LNG is (more…)

SINGAPORE: Pump prices up sharply again

price increases for gasoline and diesel. Shell led the latest round of increases last Friday, a day after world crude futures set yet another record price of more than US$135 a barrel. Singapore Petroleum Company (SPC) said it raised its gasoline price by S$0.05 a litre while diesel was up by S$0.07 a litre. (US$1=S$1.35). (more…)

AUSTRALIA: ‘Gas, LNG and Transportation Contracts & Gas/LNG Pricing’ in Perth from June 16 to 20

(EnergyAsia, May 26, Monday) — ‘Gas, LNG and Transportation Contracts & Gas/LNG Pricing’ will be held at the Mercure Hotel in Perth, Australia from June 16 to 20. As the gas price, and sales and purchase contract conditions largely determine the value and risks in transactions, understanding how these instruments define risk allocation and is (more…)

BOOK: ‘Profiting from Clean Energy’ provides a comprehensive investment guide

(EnergyAsia, May 26, Monday) — ‘Profiting from Clean Energy’, a book by professional investment analyst and advisor Richard W. Asplund, explains and discusses ways to invest in clean energy. It provides an in-depth explanation of the technology and industry structures, and identifies more than 150 stocks related to clean energy. Topics include clean energy investments (more…)

INDONESIA: Fuel prices raised by 25% to 33%

social unrest following last Friday’s decision to raise domestic fuel prices by a up to a third. Already reeling from high inflation and runaway food prices, households, small businesses and worker groups across the country have been stepping up their campaign in recent weeks to stop the fuel price rise. In announcing the long-awaited increases, (more…)

MARKETS: US Congress stops DOE adding 13 million barrels of oil to stockpile

succeeded in stopping the Bush administration from adding another 13 million barrels to the nation’s crude oil stockpile. Critics said stockbuilding by the Department of Energy and other government agencies around the world is unnecessarily adding strength to an already out-of-control oil market. Congress passed legislation in mid-month ordering the DOE to suspend its stockbuilding (more…)

PAKISTAN: Fuel retailers hoarding gasoline and diesel in anticipation of further price hikes

  (EnergyAsia, May 26, Monday) — Fuel retailers and small business owners in Pakistan’s major cities have begun hoarding fuel in storage facilities in anticipation of more price increases. In Rawalpinidi, fuel retailers have increased their regular orders by up to three times the normal 8,000 to 10,000 litres every other day. The fuel is (more…)

MARKETS: Major developments set stage for “alarmingly high oil prices”

  (EnergyAsia, May 26, Monday) — Front-month WTI crude’s surge past $135 a barrel on May 21 has set off three major new developments that are “unequivocally bullish” for the oil markets, said analyst Antoine Halff of Newedge Group. On the fundamentals front, he said the latest US oil statistics showed crude stocks unexpectedly drew (more…)

CHINA: Government orders stockpiled fuel released to quake zone

  (EnergyAsia, May 26, Monday) — China last week began releasing oil products from its state reserve stockpiles to areas struck by a massive 7.9-magnitude earthquake on May 12, said the National Development and Reform Commission (NDRC). The quake killed more than 50,000 people and inflicted damages worth more than US$10 billion. Leading oil company (more…)