SINGAPORE: ‘Bunkering: Principles, Management & Operations’ from September 2 to 3

(EnergyAsia, August 1, Friday) — August Energy Pte Ltd will be holding a workshop on ‘Bunkering: Principles, Management & Operations’ at the Bestway Building, off Shenton Way on September 2 and 3.

Bunker fuel is probably the largest cost component for the shipping industry today. The cost of bunker fuel recently climbed to a record of more than US$770 a tonne FOB Singapore, double what it was a year ago.

This workshop is recommended for anyone interested in the bunker fuel markets in Singapore, and the world at large. This includes any professional in the oil trade, banks, financial institutions, refiners, shipping and marine companies, ports, insurance firms, government, regulators, consultancies, and the media.

Topics addressed include the structure of the oil markets in general and the bunker markets in particular, the impact of the US credit crisis, the crackdown on malpractices, supply-demand balances, Singapore as a major hub in the global bunker supply chain, operational and management practices, and government policies.

The event will also examine the role of surveyors and inspectors, bunker contamination, dispute handling, MARPOL rules and requirements, auditing practices and policy in Singapore.

Speakers include Lee Hong Liang (Bunker World), Douglas Rait (IBIA Asia Exco), Yee Peng Fei (PSB consultant) and Dave Cheng Loon (Certification International Pte Ltd).

Who should attend: crew and staff of bunker companies, shipping lines, bunker purchasing department, brokers, banks, financial institutions, oil companies, government agencies dealing with the marine and maritime industries, traders, operations staff of trading firms.

CHINA: PV manufacturer Solarfun and Europe’s Schuco in 47 MW sales contract

(EnergyAsia, August 1, Friday)— Solarfun Power Holdings Co Ltd, a China-based manufacturer of photovoltaic (PV) cells, modules and ingots, said a wholly owned subsidiary has signed a 47-megawatt (MW) sales contract with Schüco International KG, a leading PV system provider in Europe. Solarfun said it will supply a combined total of 47 MW of PV…

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BIOFUELS: Oxfam blames crop-for-fuel trend for food price hikes

(EnergyAsia, August 1, Friday) — Biofuels accounted for 30% of the recent increase in world food prices, with disastrous impacts on food supplies and the economy of poor nations, a new Oxfam report found. The increased cost of food has pushed 30 million people around the world into poverty, the agency said. It added that…

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SOUTH KOREA: GS Caltex and Japan’s Nippon Oil to form carbon materials JV

(EnergyAsia, August 1, Friday) — Refining giants GS Caltex of South Korea and Nippon Oil of Japan have agreed to form a joint venture to produce carbon materials for high-end energy storage devices. The 900-tonne per year plant will be built at Gumi, southeast of Seoul, and is expected to start up in 2010. The…

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AUSTRALIA: Santos names David Knox as CEO and managing director

(EnergyAsia, August 1, Friday) — Australian upstream company Santos has confirmed acting CEO David Knox as CEO and managing director. He will be paid a base salary of A$1.75 million and a remuneration linked to performance.   Mr Knox, 50, joined Santos last September as executive vice president with responsibility for growing its emerging new…

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AUSTRALIA: Solar Sales acquired by US-based SunPower

(EnergyAsia, August 1, Friday) — US-based SunPower Corporation said it has completed the acquisition of Australian integrator and distributor, Solar Sales Pty Ltd, for an undisclosed sum. Founded in 1983, Solar Sales was one of Australia’s first photovoltaic companies and is a leading systems integration and product distribution organisation. Solar Sales offers solar panels and…

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PEOPLE: Singapore’s Swiber appoints two CEOs to lead business units

(EnergyAsia, August 1, Friday) — Swiber Holdings Limited), a Singapore-based provider of offshore services, said it has appointed two new heads to lead the growth of its two business units, Offshore Construction Services (OCS) and Offshore Support Services (OSS). Nitish Gupta, currently Swiber’s COO, will lead OCS while Darren Yeo, an executive director and executive…

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PHILIPPINES: Energtek signs natural gas agreement with PNOC-EC to implement project

(EnergyAsia, August 1, Friday) — Energtek Inc, a US-based company focused on developing its Adsorbed Natural Gas (ANG) technology, said it has signed a purchase contract with the Philippine National Oil Company – Exploration Company (PNOC-EC) for natural gas extracted from the San Antonio stranded gas well in the Philippines’ Isabela province. The purchase contract…

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AUSTRALIA: AGL acquires Allco’s wind farm development portfolio

(EnergyAsia, August 1, Friday) — Australia’s AGL Energy Limited (AGL) said it has acquired the Australian wind farm interests of Allco Finance Group Limited (Allco) for A$12.5 million to help meet compulsory renewable energy targets. (US$1=A$1.03). The assets include seven development projects in the states of Queensland, New South Wales and South Australia.

AGL managing director Michael Fraser said the transaction was consistent with its strategy of developing a diverse pipeline of renewable projects to meet its long-term obligations under the Mandatory Renewable Energy Target (MRET) scheme.

Last month, the company announced an investment in Torrens Energy Limited and the development of its geothermal exploration licences.

“The Federal government has confirmed its commitment to a 45,000 GWh target by 2020 and AGL’s portfolio of current renewable generation and potential development opportunities positions us well under the expanded MRET scheme,” Mr Fraser said.

“The development portfolio we have acquired from Allco effectively represents an early entry option for us over potential future wind sites which should become increasingly valuable as the expanded MRET is deployed over time. It would also deliver further diversity across our renewable portfolio.”

SINGAPORE: ‘21st International Coal Supply Contracts and Transport Logistics’ from September 15 to 1

(EnergyAsia, August 1, Friday) — The ‘21st International Coal Supply Contracts and Transport Logistics’ will be held at the M Hotel in Singapore from September 15 to 19.

The seminar is designed to provide delegates with an overview of the entire coal supply chain.

Topics covered include coal supply and transport agreements negotiation, freight markets and vessel selection, shipping contracts and paper trading, hedging for coal and shipping, the role of traders, brokers, agents and lawyers in arranging deals and transport and coal quality assurance in contracts and logistics.

The seminar is recommended for coal producers, buyers, sales and marketing managers, energy traders and marketers, financiers, shipping and logistics managers, exporters and importers, brokers, middle and back office managers, risk managers, lawyers and government officials involved in monitoring and regulating the coal trade.

‘21st International Coal Supply Contracts and Transport Logistics’ is organised by Coaltrans Conferences. For more information, please contact Admin@EnergyAsia.com.

AUSTRALIA: Origin Energy and Geodynamics to expand geothermal jpint venture

(EnergyAsia, July 31, Thursday) — Australian companies Origin Energy and Geodynamics said they are advancing their geothermal energy joint venture in Cooper Basin South Australia state.

Origin Energy said it will invest another A$9.6 million in the renewable energy project, bringing its total commitment to A$150 million. (US$1= A$1.03).

The development of the Cooper Basin geothermal resources will include the following three stages:

1. The announcement of ‘proof of concept’ and the development of a 1MW pilot plant to power the JV operations and the local township of Innamincka. The successful completion of the ‘proof of concept’ stage is expected sometime this month following tests and independent certification by Geothermex Inc.

2. The design and construction of a 50MW demonstration plant powered by geothermal energy, the drilling of  nine wells and the completion of transmission infrastructure for the plant. This is estimated to be completed in late 2011.

3. The replication of the demonstration 50MW power plant to achieve commercial base-load power generation. A further nine plants will be built to produce an overall capacity of 500MW. This is estimated to be completed in late 2015.

Geodynamics said it has drilled three wells — Habanero 1, Habanero 2 and Habanero 3. The first milestone under the farm-in agreement includes the completion of the Habanero 3 well and the open circuit circulation test between Habanero 1 and Habanero 3, which were completed on schedule and within budget.

Australian Geothermal Energy Association chief executive Susan Jeanes said the threats of climate change and energy security are spurring increased investor interest in renewable energy development in the country.

“Geothermal energy has the potential to provide Australia with low-emission base-load electricity for thousands of years. Australian companies such as Origin Energy and Geodynamics are leading the development of these critical geothermal projects, which will play a key role in helping us achieve the emissions cuts envisaged by today’s thought leaders,” Ms Jeanes said.

Origin Energy managing director Grant King said: “This marks a further step on the road to better understanding our Australian geothermal assets. With this milestone achieved we can now move towards actually harnessing the energy contained in the country’s hot-rock resources. We strongly believe in the growth opportunities of our low-carbon technologies in geothermal, solar and gas. Geothermal energy will play an ever more important role in securing the growing global need for clean energy technologies.

“Australia’s natural geothermal resources are among the best in the world and we believe geothermal energy has a key role to play in meeting the country’s emissions reduction targets foreshadowed through an emission trading scheme, as well as the planned renewable energy targets.”

Geodynamics managing director Gerry Grove-White said: “We are delighted with the progress we have made to date on our geothermal assets in the Cooper Basin. Today’s announcement confirms the faith we have in the techniques we are developing to exploit our world-class geothermal resources.

“Geodynamics is in pole position in the race to develop emissions-free renewable energy in Australia. The government’s commitment to an emission trading scheme and a renewable energy target underscores the importance of developing this important renewable energy source.”

In addition to its 30% interest in the Cooper Basin geothermal joint venture, Origin Energy also remains the company’s largest shareholder with approximately 7.5% of the shares on issue.

Geodynamics is the largest ASX-listed company in Australia whose sole focus is on developing hot fractured rock geothermal energy.

SINGAPORE: SPC says second quarter profit up 0.6% to S$180.3 million

0.6 percent to S$180.3 million compared with the same period last year. Its revenue jumped by nearly 65% to S$3.25 billion on the back of higher oil prices. (US$1=S$1.35). Earnings per share rose to 34.96 Singapore cents from 34.79 Singapore cents previously. The oil refining and marketing firm said it will pay an interim one-tier…

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AUSTRALIA: BHP, ExxonMobil to invest US$1.1 billion on Turrum gas field development

Gippsland Basin joint venture will invest US$1.1 billion to develop more than 270 million oil-equivalent barrels from the Turrum field in the Bass Strait in southeast Australia. Exxon Mobil is represented by subsidiary Esso Australia in the equal joint venture. Esso Australia, the Turrum field operator, operates 21 offshore oil and gas production facilities in…

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BIOFUELS: Growing crops for fuel blamed for 75% hike in food prices

Bank said in a report leaked to Britain’s Guardian newspaper. The main drivers for food prices were programmes in the US and European Union to boost biofuels production, the report said. These findings run counter to claims by biofuels promoters who blame rising food demand in India and China for the sharp increases in global…

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CHINA: Large offshore wind farm project approved

approved the construction of a major wind farm power project off the coast of Shanghai city.   When it starts up in 2010, the 102,000-kilowatt project will be the country’s first offshore wind power project.  Project promoters include China Guangdong Nuclear Power Holdings, China Datang Group, China Power International Holdings and Shanghai Green Energy Engineering….

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MALAYSIA: Trade minister wants Japanese firms to invest in solar energy sector

emerging solar energy sector. International Trade and Industry Minister Muhyiddin Yassin, who recently led a trade mission to Japan, told business people there that Malaysia offered a highly attractive environment for developing the solar power industry. Speaking at a seminar, he said many solar equipment firms including Germany’s Q-Cells have begun investing in Malaysia. Japanese…

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MARKETS: Experts urge US, Europe to rethink biofuels strategy

reconsider their biofuels policies and crop subsidies in light of the recent sharp rise in food prices. The European Union has announced an aggressive target for 10% of its cars and trucks to run on biofuels by 2020. The plea for a change has come on the back of a leaked report by the World…

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NEW ZEALAND: Government go ahead with biofuels blending plan

consumption despite increasing concerns over its impacts on food prices and the environment. However, it will make a concession by reducing the targeted mandatory minimum biofuels content in fuel from 3.4% by 2012 to 2.5% in following a recommendation from the country’s parliamentary environment select committee. The blending requirement will likely be phased in from…

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TAIWAN: CPC in talks to invest in Canada’s oilsands

Canada’s Saskatchewan province in a joint-venture with aboriginal communities. CPC could spend up to C$800million to acquire oil sands leases and develop projects in coming years with partner Indian Oilsands (US$1 = C$1). Indian Oilsands is an initiative that groups many of the province’s First Nations groups. The joint venture could start by focusing on…

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SINGAPORE: Advanced Holdings secures four new energy contracts worth S$19.3 million

process equipment and technologies, clean energy solutions and environmental technologies, said it has secured four new contracts worth a total of S$19.27 million. (US$1=S$1.36). Two of the contracts are for oil and gas projects in Singapore while the other two are petrochemical projects in China. These contracts are not expected to have any material impact…

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THAILAND: A-Power to develop $300 million, 600MW distributed power generation system

(EnergyAsia, July 30, Wednesday) — Nasdaq-listed A-Power Energy Generation Systems Ltd said it has signed a memorandum of understanding with Thailand’s National Power Supply Co Ltd to develop a 600 MW distributed power generation system in Chachengsao province. National Power Supply co is a subsidiary of Advance Agro Public Co. Ltd, a large Thai-based conglomerate….

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MALAYSIA: Petronas to pay RM30 billion dividend

(EnergyAsia, July 30, Wednesday) — Malaysia’s state oil and gas company Petronas will pay a dividend of RM30 billion to the government, up 50% from last year. (US$1=RM3.26). The huge dividend was declared after the company had reported a 31.5% increase in net profit to nearly RM61 billion for the fiscal year ended March 31….

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SOUTH KOREA: Crude storage capacity to be raised to over 140 million barrels by 2010

(EnergyAsia, July 30, Wednesday) — South Korea plans to increase its crude oil storage capacity to 141 million barrels by 2010, up 27% from current levels. The new capacities include storage for emergencies and joint storage with foreign refiners. State KNOC has stated that the expansion will help the country cope with supply disruptions as…

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INDIA: Vizag refinery project decision seen in December

(EnergyAsia, July 30, Wednesday) — The consortium proposing to build a US$6 billion integrated refinery-petrochemicals project in the Indian coastal city of Vishakhapatnam or Vizag is expected to make a final decision by December. The consortium, comprising India’s Mittal group, Hindustan Petroleum (HPCL), GAIL and Oil India (OIL), and France’s Total, has been working on…

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INDIA: Refiners unlikely to meet target for fuel standard

(EnergyAsia, July 30, Wednesday) — India’s state oil refiners may not be able to upgrade all their facilities to meet the 2010 deadline for producing Euro–IV grade fuels for 11 major cities. The refiners are facing massive project delays amid rising costs and tight supplies for engineering equipment and manpower. The order books of contractors…

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