Archive | November, 2008

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 […]

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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 […]

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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 […]

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