(EnergyAsia, June 20, Friday) — The International Monetary Fund (IMF) has announced it will investigate “the real and financial factors” behind the recent surge in oil and commodity prices, their volatility, and the effects on the global economy. Responding to a call by the Group of Eight (G8) major industrial nations, managing director Dominique Strauss-Kahn...

(EnergyAsia, June 20, Friday) — Representatives of 40 developing and industrialised countries have agreed to create two international investment funds that will provide innovative financing for developing countries to pursue cleaner development paths and protect themselves from the impacts of climate change. The World Bank said the agreement came last month after a two-day meeting...

(EnergyAsia, June 20, Friday) — French major Total said it has signed a memorandum of understanding (MOU) to supply liquefied natural gas (LNG) to leading Chinese oil and gas company China National Offshore Oil Corporation (CNOOC). CNOOC President, Fu Chengyu, and Total CEO, Christophe de Margerie, signed the MOU on behalf of their companies with...

(EnergyAsia, June 20, Friday) — China Technology Development Group Corporation (CTDC), a provider of renewable energy products and solutions, said it has begun building a pilot amorphous silicon (a-Si) thin-film solar energy rooftop system in China’s Fujian province. The system will be built at its production plant in the China Merchants’ Zhangzhou Development Zone (CMZD)....

(EnergyAsia, June 20, Friday) — Texas, US-based Eltek Valere has announced that it will make the Asian debut of its green product line – Flatpack2 HE – to wireless and fixed line service providers at the CommunicAsia 2008 event in Singapore from June 17 to 20. Eltek said the Flatpack2 HE DC power system is...

landing of record-high oil prices, said US commodities broker Newedge. The sharp run-up in oil prices this year have had a profound impact on the world at many levels: social, economic, political and institutional. Unlike earlier price gains, the latest hike is causing real stress, not just on refiners and consumers, but also on the...

impact on both supply and demand, said IMF chief economist Simon Johnson. “Right now the oil market is tight and there isn’t a lot of additional supply that can come on at very short notice and the market looks like it’s going to remain under pressure for some time to come,” he said according to...

climb from already high levels now, said analysts. A big decline in demand would, in turn, imply lower or negative growth and could lead to a drop in oil prices towards the end of 2008 or early 2009, according to analysts at Lehman Brothers. Demand destruction is already apparent in the US where consumers are...

 stockpiles and help deal with volatile crude oil prices on the world markets. The cooperation of these large, fast growing Asian economies is crucial for the IEA in its effort to prepare countries to deal with oil emergencies. The US government has urged China, the world’s second largest oil consumer, to join the 27-member IEA,...

semisubmersible drilling tender (SSDT) for Seadrill Asia Limited. Scheduled for delivery in first quarter of 2011, the drilling tender will be built to the KFELS SSDT™ 3600E model. The KFELS SSDT™ series is designed by Keppel Offshore & Marine Limited’s R&D arm, the Deepwater Technology Group. When completed, the latest unit will join Seadrill Asia’s...

 out the main terms of a production sharing agreement (PSA) for an exploration licence in the Absheron area. Total will be the operator of the Absheron Block, with 60% interest, while SOCAR will have a 40% stake. This block is located in the Caspian Sea, 100 km from Baku, in a water depth of around...

recovery systems in China, and signed contracts for another two systems in Malaysia and Congo. One of the systems in China with an electricity output of 14MW, has just started operation while the other, a 26.8MW system, is expected to be commissioned and to start up around early August. The company said the two system...

Wulanchabu City in China’s Inner Mongolia Autonomous Region to build a 49.5MW wind farm. To implement the RMB480.5 million project, the company has signed two contracts for the purchase of 33 sets of 1,500kw wind turbine and turbine tower, and expects to sign several more. (US$1=RMB6.9). Hong Kong Energy (Holdings) Limited, formerly known as J.I.C....

on Americans to demand that automakers manufacture electric vehicles (EV) so that they can reduce dependence on fossil fuels. “Call Toyota, call GM, call Ford, call them all and tell them that you won’t buy another car until it can be plugged in and charged with electricity. Americans must demand the choice to drive cars...

(EnergyAsia, June 18, Wednesday) — Singapore’s Keppel FELS Limited, the wholly-owned subsidiary of Keppel Offshore & Marine Limited (Keppel O&M), said it has secured a US$420 million contract to build two jackup drilling rigs for Seadrill Limited. To be delivered in the second and fourth quarter of 2010, the new rigs will be built to...

(EnergyAsia, June 18, Wednesday) — To the dismay of the aviation industry, Mobil said it plans to close its aircraft fuel depot at Milford Sound in the south west of New Zealand’s South Island soon. The company said it had advised stakeholders of its plan to demolish the depot. However, regional emergency services said the...

(EnergyAsia, June 18, Wednesday) — Amidst rising food and fuel prices, the World Bank has forecast that world economic growth will slow down to 2.7% in 2008 from 3.7% last year. The developing world will also register slower growth of 6.5% compared with 7.8% last year. Amidst the financial turmoil in the Western world, and...

(EnergyAsia, June 18, Tuesday) — Greenpeace has praised Japan’s energy policy as an example for the world to follow with its focus on developing renewable energy technology and energy efficiency. In a special report, “Energy (R)evolution – A Sustainable Japan Energy Outlook,” Greenpeace said Japan shows how a combination of renewable energy technologies and energy...

(EnergyAsia, June 18, Tuesday) — Santrol Oil and Gas Stimulation Products said it has launched a joint venture with the world’s third largest manufacturer of ceramic proppants to produce resin-coated proppants for Asia as well as the Middle East, Eastern Europe and Australia. A wholly owned subsidiary of U.S.-based Fairmount Minerals Ltd, Santrol is sharing...

(EnergyAsia, June 18, Wednesday) — UK’s TSMarine said it has successfully completed phase one of its rigless intervention activity on Woodside’s Vincent project, off the coast of Western Australia. This is the first fully integrated rigless subsea well intervention project in the Asia Pacific region. TSMarine said its Perth subsidiary operates a multiyear service contract...

(EnergyAsia, June 18, Wednesday) — Anglo Dutch major Shell has agreed to buy a stake in the coal seam gas (CSG) or coalbed methane (CBM) projects of Australia’s Arrow Energy, which is aspiring to become Asia’s leading CSG player. Arrow Energy CEO Nick Davies said Shell Exploration Company B.V. (Shell), a subsidiary of Royal Dutch...

(EnergyAsia, June 18, Wednesday) — Abu Dhabi has announced plans to invest more than $2 billion in developing thin-film PV technology and manufacturing. Through the Masdar Initiative, the emirate’s drive to create a sustainable society, Abu Dhabi said it will fund a three-phased manufacturing and expansion strategy to produce the latest generation of thin-film PV...