INDIA: Essar faces delays in buying into Kenyan refinery

(EnergyAsia, July 30, Wednesday) — India’s Essar group will have to wait a bit longer for the Kenyan government to approve its proposed acquisition of a 50% stake in Kenya Petroleum Refineries Ltd (KPRL). Citing energy security concerns, the government has delayed making a decision on Essar’s offer to take over the stakes of Shell…

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VIETNAM: Asiatic moves into renewable energy with 44MW hydroelectric power project

(EnergyAsia, July 30, Wednesday) — Asiatic Group Holdings Limited, a Singapore-based engineering management specialist, said it will be building a 44-megawatt (MW) hydroelectric power project in Vietnam’s north-eastern Lao Cai province. Asiatic’s wholly-owned Colben Energy Holdings (Vietnam) Limited will pay US$6.3 million for a 51% stake in a newly established joint venture company, Colben Energy…

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PAPUA NEW GUINEA: Government signs natural gas agreement with Australia’s Oil Search Ltd

(EnergyAsia, July 30, Wednesday) — Australia’s Oil Search said it has signed a Memorandum of Understanding (MOU) with the Papua New Guinea government for the commercialisation of the country’s natural gas resources. The MOU provides a framework for the PNG government and Oil Search to jointly commercialise the substantial discovered PNG gas resource that is…

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NEW ZEALAND: Contact Energy investigating Waitahora wind farm project

(EnergyAsia, July 30, Wednesday) — New Zealand’s Contact Energy said it is investigating a new wind farm project on the remote Puketoi Range near Dannevirke in Southern Hawke’s Bay. The proposed 177MW Waitahora wind farm would cost around NZ$500 million to develop. Its 65 turbines would generate enough clean, renewable electricity to power up to…

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MARKETS: OPEC’s revenues to exceed US$1.251 this year

(EnergyAsia, July 30, Wednesday) — OPEC’s oil export earnings are set to rise to a new record exceeding US$1.251 trillion this year, about US$73 billion more than previously estimated. The US Energy Information Administration (EIA) said the cartel’s net oil export earnings are expected to surge 86% this year on the back of record-high oil…

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INDIA: Essar unit to provide third party logistics services

branching out into third-party logistics services.   Subsidiary Essar Shipping Ports and Logistics (ESPLL) owns a range of ports, terminals and logistics facilities that are currently used to service the group’s other subsidiaries, Essar Steel, Essar Oil and Essar Power. The group plans to open up those assets and services to external clients, mostly oil…

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CHINA: Ecuador refinery project open to Chinese, Iranian interest

jointly invest in a proposed 300,000 b/d refinery in Ecuador.   Ecuador President Rafael Correa said Venezuela’s state-owned PDVSA and PetroEcuador are open to the idea of inviting Chinese and Iranian participation in what could become South America’s largest refinery when it is completed in 2013. PetroEcuador has a 51% stake in the project with…

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CLIMATE CHANGE: World Wildlife Fund releases G8 scorecards, wants US to step up energy efficiency an

the progress of each of the G8 countries toward addressing climate change. The report, ‘G8 Climate Scorecards 2008’, reveals that the US can make substantial progress on the climate front by improving energy efficiency and increasing research and development funding for energy programmes. The scorecards report ranks the G8 countries – US, UK, Canada, France,…

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SAUDI ARABIA: Van Leeuwen wins US$38 million supply contract with Saudi Kayan Olefins Plant

(EnergyAsia, July 29, Tuesday) — Van Leeuwen Pipe and Tube (Singapore) Pte Ltd,  a subsidiary of the Netherlands-based Van Leeuwen Pipe and Tube Group BV, said it has been awarded an initial US$38 million contract to supply carbon steel, alloy steel, stainless steel and incoloy pipes, fittings and flanges for the Saudi Kayan Olefins Plant project in Saudi Arabia. (US$1=S$1.35)

Saudi Kayan Petrochemical Company’s complex in Jubail city is capable of producing six million metric tons of petrochemicals per year. It includes a 1.3-million-ton per year olefins plant at the Saudi Kayan cracker complex.

Kellogg Brown & Root Singapore will be responsible for the project’s engineering, procurement and construction management.
 
Van Leeuwen said it was selected to source, expedite, inspect and deliver at least 15,000 tons of pipes, fittings and flanges to the project based on its reputation and proven expertise in executing worldwide projects for renowned engineering companies and end-users.

Van Leeuwen regional managing director Hans Weerstra said the award is an “acknowledgment of Van Leeuwen’s successful strategy to support energy-related industries worldwide with the supply of steel piping material and enhanced services in logistics and project management.”
 
Van Leeuwen Pipe and Tube Group BV, an international trading company specialising in steel pipes, pipe components and valves, was founded in 1924 and has since been active in virtually all industrial sectors. The group currently has 37 locations throughout Europe, Asia, the Middle East and North America. It employs more than 1,100 staff and generates an annual turnover of 750 million euros.  (US$1 = 0.63 euros).

PAKISTAN: US energy infrastructure firm AEI buys into Karachi firm

controlling interest in Karachi, Pakistan-based DHA Cogen Limited (DCL).   AEI said it has the right to hold up to 52.99% of DCL’s shares, but declined to reveal the full terms of the transaction. The transaction strengthens AEI’s overall Asian presence. It recently acquired Luoyang Yuneng Sunshine Cogeneration Co Ltd in China, and the gas distribution…

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PHILIPPINES: Insular Oil to invest 400 million peso in new oil depot in Mindanao

million peso to build an oil products storage and blending terminal in Davao city to serve the southern province of Mindanao. (US$1=50 peso). Insular Oil will build the terminal on a 45,300-sq m waterfront plot which it bought from Herma Corp last July. Manila’s Board of Investments has given its approval and also granted Insular…

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AUSTRALIA: Power station in Victoria to capture coal-generated carbon gas from rig

a post-combustion-capture (PCC) pilot plant at the Loy Yang Power Station in Victoria state’s Latrobe Valley. CSIRO, the country’s leading science agency, said the milestone followed the Garnaut Report’s recognition that Australia has an important role to play in developing low emission coal technologies such as PCC. The 10.5 metre-high pilot plant is designed to…

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AUSTRALIA: National emissions trading scheme would hurt oil refiners

investments and even shut down existing capacity if the government goes ahead with its planned emissions trading regime. The country’s three major refiners, Caltex, Shell and ExxonMobil, said they would be saddled with huge extra costs without any compensation or support from the government of Prime Minister Kevin Rudd. At the same time, the refiners…

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INDIA: Diesel supply crisis feared

production capacity is not growing as fast domestc demand. The prospects of a crisis have been highlighted by recent instances of diesel supply problems in several major cities including Chennai and Bangalore. Diesel demand is rising by some 25% per year but the diesel capacity at the country’s refineries is growing by around 15% per…

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INDIA: Gasoline supply squeeze in Bangalore and Chennai

recently hit by diesel and gasoline shortages that are expected to persist for the rest of the year. The situation could worsen in the coming weeks with stocks running out completely and possibility that the crisis could spread to other cities, said Indian oil executives. Dealers blame India’s state oil marketing firms for the problem,…

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PHILIPPINES: Petron to close Bula oil depot in General Santos city

begun building new fuel tanks to replace its ageing Bula oil depot in General Santos City which is scheduled to close before the year end. As a result, its customers in the Socksargen area would not be affected by Bula’s closure, said the company’s vice president for supply and operations Mon Antiporta. He said the…

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SINGAPORE: Japan’s Kuraray to expand resin capacity, make specialty films for PV panels

million to expand its resin production capacity on Jurong Island that could make specialty films for solar PV panels. The company, which has made Singapore its Asia-Pacific hub, said a new 15,000-tonne-per-year polyvinyl butyral resin (PVB) resin plant will compliment an existing 40,000-t/y polyvinyl alcohol (PVA) resin plant. Chairman Yasuaki Wakui said the company will…

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US: House of Representatives vote against release of crude stockpile

releasing crude oil from the Strategic Petroleum Reserve (SPR) to bring down the price of oil. Despite the backing of the airline industry and consumers in the country, the Democrat-controlled House failed to muster the two-third majority required to force President Bush to release 10% of the 700 million barrels of crude from the emergency…

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VIETNAM: Chan May-Lang economic zone starts up fuel terminal

depots and port to serve two refineries that are being planned for Vietnam’s central provinces of Quang Nai and Thanh Hoa. The depots and port, owned and operated by a subsidiary of state-owned PetroVietnam. Built on a 7.2-hectare plot, the complex’s depots in the first phase can store up to 7,000 cubic metres of diesel…

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SINGAPORE: August Energy’s ‘Bunkering:Principles, Management & Operations’ to be held from September

(EnergyAsia, July 28, Monday)— August Energy Pte Ltd will be holding a workshop on ‘Bunkering: Principles, Management & Operations’ at the Bestway Building, off Shenton Way, in Singapore from September 2 to 3.

Bunker fuel prices are probably the largest cost components 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. Any company exposed to the bunker fuel market today must train its staff to understand both the technical aspects and market practices associated with the volatile nature of this commodity.

This workshop is recommended for anyone interested in the bunker fuel markets in Singapore, Asia and the world at large. This would include any professional or personnel involved in the bunker fuels trade, banks, financial institutions, oil refiners, shipping and marine companies, ports, insurance, government officials, regulators, consultants, economists 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 at the event include Lee Hong Liang (Bunker World), Douglas Rait (IBIA Asia Exco), Captain Zein (Hong Lam Marine Pte Ltd), 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.

For more information on ‘Bunkering: Principles, Management & Operations’, please contact Admin@EnergyAsia.com or Sales@AugustEnergy.biz.

AUSTRALIA: Origin Energy secures long term Queensland electricity hedge

hedge purchase and gas supply agreement with the Braemar 2 Partnership that will support the supply of electricity products to its customers in Queensland state. Braemer 2 is equally owned by ERM Power and Arrow Energy.   The final agreements with the partnership support the financial close and development of a second 450 MW open…

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CHINA: Guangdong province wants new oil storage in Huizhou city

Guangdong province is lobbying China’s central government to build a new crude oil storage terminal in the oil-petrochemical city of Huizhou.   The provincial government is also interested to establish its own oil products stockpile in Shenzhen near Hong Kong. The 1.3-billion-yuan terminal could store up to 800,000 tons of products. Construction of the 6-billion-yuan…

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CHINA: Titan secures floating storage leasing contracts

separate one-year leasing contracts with two leading oil trading companies for the entire 240,000 dwt storage capacity of Titan Chios, one of its floating storage units located at the Malaysian port of Tanjung Pelepas in Johor, near Singapore. Traders actively use floating storage in Singapore and Malaysia to support their spot trading and blending of…

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MALAYSIA: Rising cost, project delays and reserves depletion could hurt Petronas, says analyst

diminishing hydrocarbon reserves could hurt the long-term programmes and profitability of Malaysian state energy company Petronas, said stock analyst Aseambankers. For the last financial year to March 31 2008, Petronas was able to replace only half its hydrocarbon reserves, due largely to the rapid depletion of international fields. Its reinvestment profit ratio of 29% remains…

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MARKETS: Doubts over the size of US demand destruction on record oil prices

consumers in general are sharply reducing fuel consumption in response to the recent record breaking rise in oil prices.   But this has been put into doubt by Antoine Half, an analyst with US-based NewEdge Commodities, who said the size of oil demand destruction in the US could well be exaggerated. Calling it a mirage,…

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