SINGAPORE: Ezra may cancel orders for five support vessels

support and marine services to the oil and gas, said it is “proactively” reviewing its order for five multi-functional support vessels (MFSVs) due to the global financial crisis. The review could lead to their cancellations.   An options order for a 30,000 brake horsepower (bhp) MFSV with Singapore’s Keppel Singmarine Pte Ltd is the first (more…)

SRI LANKA: Court sacks petroleum minister, suspends payments to banks over troubled hedging deals

minister and suspended payments of up to $700 million to four banks over hedging deals on oil purchases. Chief Justice Sarath Silva has ordered the country’s President to take over the duties of Petroleum Minister A. H. M. Fowzie for “failing” to supervise Ashantha de Mel, the chairman of the Ceylon Petroleum Corporation (CPC), which (more…)

VIETNAM: PetroVietnam offers 30% stake to crude oil suppliers

30% of its stakes in its oil refineries to foreign oil producers willing to provide it long-term supply of crude oil. Speaking at a recent industry conference, Petro Vietnam’s general director Tran Ngoc Canh said the company will proceed to build another two refineries after the completion of the country’s first oil refinery at Dung (more…)

SRI LANKA: Presidential support for hydropower development

(EnergyAsia, December 1, Monday) — Sri Lanka’s government has targeted to develop the country’s hydro-power potential to help meet its growing energy demand. The government of President Mahinda Rajapaks has appointed a task force to study and help implement projects, as well as lend support to hydropower project developers.   The country has identified some (more…)

CHINA: Growing calls to step up national oil stockbuild

Chinese government to step up the country’s oil stockpile building programme. They said China should advantage of the recent sharp drop in world crude oil prices and its large holding of foreign exchange reserves of nearly $2 trillion to build up oil stockpile for future use. US crude futures have fallen to just slightly over (more…)

COAL: Greenpeace says industry inflicted costs of 360 billion euro in 2007

costs worth at least 360 billion euro in 2007, including mining accidents, said environmental group Greenpeace. It made the charge in a special report, “The True Cost of Coal”, released with the independent Dutch Institute CE Delft. The report was released as Industry Ministers from at least 20 big emitting countries met in Warsaw with (more…)

AUSTRALIA: Mission NewEnergy reports breakthrough in bio-ethanol technology

produced bio-ethanol from non-food agricultural waste material. The pilot plant was set up in a joint venture with a scientific team in India. Mission claims that they will be able to produce bio-ethanol from a range of low cost and abundantly available feedstock, eliminating the need to utilise valuable food crops as feedstock. With over (more…)

PHILIPPINES: PNOC acquires Shell Solar

Solar Philippines for 25 million peso. (US$1=50 peso). With the acquisition, PNOC is now targeting to install 40,000 solar home systems (SHS) over the next five years. The company said it has already installed some 15,000 systems in the first phase.   PNOC is positioning to meet rising demand from Philippine consumers for solar home (more…)

SINGAPORE: Oil trading companies reduce staff size, operations

and staff size this year in response to the tough business environment. Statoil Asia Pacific, the trading arm of Norway’s StatoilHydro ASA, has announced that it has closed its four-person oil products trading team in Singapore. French bank BNP Paribas has shut down its oil derivatives trading desk in Singapore to focus its activities in (more…)

FILMS: Interviews with Conergy, Fortis Bank, Epeus Group, Malaysia’s PTM

(EnergyAsia, November 28, Friday) — EnergyAsia recently interviewed executives from renewable energy solutions company Conergy, project management company Epeus Asia Pacific, financial institutions Chicago Mercantile Exchange and Fortis Bank and Superfund, and the Malaysian Energy Centre (PTM). These interviews were filmed and can be found on Epeus Asia Pacific, an international project management company, (more…)

MALAYSIA: Prime Minister to launch Kertih Plastics Park

(EnergyAsia, November 28, Friday) — Malaysian Prime Minister Abdullah Ahmad Badawi will launch the country’s first fully integrated plastics park to be built under the East Coast Economic Region (ECER) master plan on December 2. Sited on a 140-hectare plot, the Kertih Plastics Park (KPP) will be a hub for plastics manufacturers and service providers. (more…)

SINGAPORE: Seadrill, Scorpion and Lewek may not proceed with rig contracts with Keppel

(EnergyAsia, November 28, Friday) — Singapore-based rig builder, Keppel Offshore & Marine Limited, said it has received indications from Seadrill Limited, Scorpion Offshore Ltd, and Lewek Shipping Pte Ltd that they are reviewing their options on their rig building contracts that were signed in the middle of this year. The contracts under review are for (more…)

SINGAPORE: Keppel secures four contracts worth S$340 million

(EnergyAsia, November 28, Friday) — Singapore’s Keppel Offshore & Marine said it has secured four contracts worth a total of S$340 million through its subsidiaries. (US$1=S$1.51) The contracts call for the conversion of a floating storage and offloading vessel (FSO), the construction of an internal turret, the refurbishment and outfitting of a semi-submersible multi-service vessel (more…)

KAZAKHSTAN: More Tengiz oil to be shipped through BTC pipeline

(EnergyAsia, November 28, Friday) — Chevron’s Kazakhstan venture TengizChevroil is increasing shipment of crude oil through the Baku-Tbilisi-Ceyhan (BTC) pipeline from Baku to the port of Ceyhan in Turkey. The company aims to flow 98,000 b/d of crude through the BTC pipeline next year. The oil is being transported by rail from the Tengiz field (more…)

BOOK: ‘Alternative Fuels: The future of Hydrogen’ features chapter on fuel and energy trends

(EnergyAsia, November 28, Friday) — The second edition of ‘Alternative Fuels: The Future of Hydrogen’ features a new chapter on fuel and energy trends. The book also addresses the many of the factors affecting energy use including the availability and desirability of various fuels, especially, hydrogen. It examines ways to align policy and technology to (more…)

QATAR: Emerson sign five-year support and service agreement for expanding LNG production

(EnergyAsia, November 28, Friday) — US-based Emerson Process Management said it has signed a long-term support and service agreement with Qatargas Operating Company Ltd. for its expanding liquefied natural gas (LNG) operations. Under the five-year agreement, Emerson will provide asset management services, advanced skills training, and a comprehensive parts management program. It has also has (more…)

INDIA: ADB to boost financing for energy efficiency projects

(EnergyAsia, November 28, Friday) — The Asian Development Bank (ADB) said it plans to set up a fund to help finance energy efficiency projects in the Indian state of Madhya Pradesh.  The planned Energy Conservation Fund (ECF) will complement an ongoing ADB investment programme in Madhya Pradesh’s power sector aimed at reducing the power supply (more…)

CHINA: US-based Sunrise Consulting Group to buy 60% stake in Jiangsu solar company

(EnergyAsia, November 28, Friday) — California, US-based Sunrise Consulting Group Inc said it has signed a letter of intent to purchase up to 60% of China’s Sunrise Solartech Co Ltd. Founded as a privately owned enterprise in March 2006 in Jiangsu province, Sunrise Solartech specialises in designing, developing, manufacturing and marketing solar energy products. The (more…)

ABU DHABI: Mustang Engineering wins design contract for carbon capture and storage project

(EnergyAsia, November 28, Friday) — Houston, Texas-based Mustang Engineering, a subsidiary of international energy services company John Wood Group PLC, said it has been awarded the contract to provide front-end engineering and design (FEED) services for a carbon capture and storage (CCS) project in the UAE. The contract was awarded by Masdar, an Abu Dhabi (more…)

MARKETS: International Energy Agency (IEA) calls world energy demand trends “patently unsustainable”

downplayed the statistics and significance of oil depletion, said the Association for the Study of Peak Oil and Gas USA. The association hailed International Energy Agency’s (IEA) World Energy Outlook (WEO) 2008 report which “conclusively recognised” the reality of ‘peak oil’ and the magnitude and implications of large annual decline rates on the world’s annual (more…)

ASIA: Georgia president was misled by US, analysts say

Georgia’s president Mikheil Saakashvili risked a clash with Russia by invading breakaway region South Ossetia in august, analysts said. In fact, neo-conservatives around US vice president Dick Cheney may have egged Mr Saakashvili into seeking a confrontation with Russia, they said. In early August, Georgia launched a massive assault on South Ossetia in an attempt (more…)

MARKETS: Credit crisis hits oil trading and project development

crisis is hitting global trade in refined oil products and paper contracts. One key issue is the difficulty of obtaining letters of credit to finance purchases as counter-party risks have been significantly raised since the crisis broke in recent months.   Oil refiners said they might be forced to pare back production even though underlying (more…)

SHIPPING: Solution to Somalia piracy problem must include security cordon, says Intertanko

of Independent Tanker Owners (Intertanko) has called on governments to provide naval and other military support such as aerial surveillance to protect seafarers and trade in the international sea lanes.   The most dramatic incident took place early this month when pirates hijacked the Saudi-owned Sirius Star oil tanker was hijacked in the Indian Ocean (more…)