profit of US$15.3 million for the third quarter for a 45% increase from the same period last year.   Due to higher jet fuel procurement volume and gains from hedging activities and freight optimisation, CAO said its third quarter gross profit increased 81% to US$6.3 million. CAO said it procured and supplied 1.29 million metric...

net profit fell by more than 47% to Rs668.5 million from the same period last year. Listed on the National Stock Exchange of India, Jaiprakash Hydro-Power said sales were also down 8% to Rs1.083 billion for the July-September quarter. For the six months ended September 30, the company posted a net profit of more than...

performance alternative fuel engines, and Cummins India Ltd (CIL) said they have signed a large order to supply 3,125 natural gas buses equipped with CWI’s B Gas Plus engines to the Delhi Transport Corporation (DTC). The 230 horsepower B Gas Plus engines, powered by compressed natural gas (CNG), are licensed by CWI and manufactured by...

offshore oil and gas services, said a subsidiary has signed a Memorandum of Understanding (MOU) with Petrovietnam Construction Joint Stock Corporation (PVC) to serve the offshore installation construction market in Vietnam. PVC, a subsidiary of state oil and gas firm PetroVietnam, will be teaming up with Swiber Offshore Construction Pte Ltd. PVC specialises in providing...

documents outlining ambitious plans to deepen regional economic cooperation in transport, trade facilitation, trade policy and energy in the region. The plans were agreed at the 7th Ministerial Conference of the Central Asia Regional Economic Cooperation (CAREC) programme. Ministers and senior officials from Afghanistan, Azerbaijan, China, Kazakhstan, Kyrgyz Republic, Mongolia, Tajikistan and Uzbekistan attended the...

methane concentrations are rising again, said Australia’s science agency CSIRO. “This is not good news for future global warming,” said CSIRO’s Paul Fraser, who co-authored a paper to be published in Geophysical Research Letters, a journal of the American Geophysical Union. In recent years, the growth of important greenhouse gases, namely methane and the CFCs,...

UAE’s Global Process Systems (GPS) to provide two major process packages for the Usan floating production, storage and offloading (FPSO) project in Nigeria. GPS’s office in Kuala Lumpur, Malaysia, will execute the US$15 million contract to design and supply a glycol dehydration package, and flare and HC blanket gas recovery package for installation on the...

after tax net loss of NZ$710,000 for the third quarter of 2008, an improvement from the loss of NZ$3.64 million for the same period last year. (US$1=NZ$1.6). Cash flow from operations totalled to NZ$1.370 million, compared with a loss of $9.1 million in the previous quarter, reflecting the impact of oil price hedges, now closed...

(EnergyAsia, November 21, Friday) — Asia’s rapidly growing cities need to follow the models of Singapore, as well as some European cities, in developing integrated and sustainable public transport systems. They also need to include land use planning so that people can travel more easily and affordably to offices, schools or entertainment areas, a transportation...

(EnergyAsia, November 21, Friday) –– China Oilfield Technology Services Group Limited, Singapore-listed provider of integrated tertiary oil recovery equipment and technology solutions to enhance oil extraction, has reported a loss of RMB21.8 million for the third quarter ended September 30. The company said its bottom line was hit by the recognition of share-based payment expenses...

(EnergyAsia, November 21, Friday) — Tokyo Electric Power Co said it plans to invest a total of 10 billion yen to install two of Japan’s largest scale solar power plants in Kawasaki city to the south of Tokyo. (US$1=95 yen). The plants will produce a total of 21 million kilowatt-hours of electricity per year, sufficient...

(EnergyAsia, November 21, Friday) — Carotech Bhd, a leading Malaysian producer of palm methyl ester, said it has signed a RM200 million contract with trader Trafigura Beheer BV Amsterdam to supply refined and distilled palm biodiesel for export to the US and Europe. The Malaysia-listed company will supply Switzerland-based Trafigura between 5,000 and 7,000 tonnes...

(EnergyAsia, November 21, Friday) — Air New Zealand said one of its aircraft will make the world’s first commercial aviation test flight to be powered by biofuel on December 3. The company said the Boeing 747-400 test flight out of Auckland, New Zealand will be powered by a jatropha-based second-generation fuel that has been certified...

(EnergyAsia, November 21, Wednesday) — The joint venture owned by affiliates of InterOil, Pacific LNG and Merrill Lynch have agreed to build a liquefied natural gas (LNG) plant on a site adjacent to InterOil’s refinery in Papua New Guinea. Canada’s InterOil said Merrill Lynch does not have any right to negotiate the purchase or offtake...

(EnergyAsia, November 21, Friday) — Chevron’s offshore Block A oil project in Cambodia is likely to come onstream only after 2010, said a government official. Speaking at a conference in Singapore, Ho Vichit, vice-chairman of Cambodian National Petroleum Authority (CNPA) said the US major has yet to file official plans for the project. He expects...

(EnergyAsia, November 21, Friday) — The future of electric-powered cars lies in China where some 700 million cars are estimated to be on the roads by 2050, up from about 160 million last year. Analysts and investors predict that many new vehicles coming onto Chinese roads will be electric-driven. They calculate that with 700 million...

(EnergyAsia, November 21, Friday) — Chinese state oil major PetroChina is keeping an eye out on opportunities to buy energy companies and assets abroad on the cheap in the wake of the current credit and financial crises around the world. The cost of such assets has fallen sharply as companies are struggling to raise capital...

(EnergyAsia, November 21, Friday) — Singapore-listed Chemoil Energy has reported making a net profit of US$10.4 million for the third quarter, reversing a loss of US$2.5 million for the same period last year. Revenue surged by 70% to US$2.72 billion over the same period. For the first nine months, Chemoil achieved a net profit of...

for the offshore industry, said its third quarter net profit fell 7.4% to US$18.2 million while its revenues surged 186.5% surged to US$130.1 million. Swiber said its growth was underpinned by continued buoyant demand for its services in offshore construction sector. For the nine months ended September 30, the company said its revenues were up...

(EnergyAsia, November 20, Thursday) — UK major BP plans to export crude oil from Kazakhstan through the Baku-Tbilisi-Ceyhan pipeline to the port of Ceyhan in Turkey. The oil, from Kazakhstan’s Tengiz oil field, will be brought via ship over the Caspian Sea to Azerbaijan where it will be loaded up through the 1,770-kilometre pipeline. The...

over BP’s strategic stakes in the Caspian Pipeline Consortium (CPC) and the Tengiz oil field in Kazakhstan.   The consortium owns and operates the Caspian pipeline which pumps 750,000 b/d of crude oil from Kazakhstan to the Black Sea in Russia. BP’s stake could be worth up to US$700 million. The UK major holds its...

US major, said its third quarter net loss has risen sharply to 3,554 million baht from 380 million baht from a year ago. It blamed the larger net loss on decreased downstream earnings. The refining, petrochemical and marketing company reported a loss of 5,024 million baht compared with a profit of 492 million baht in...

more integrated approach in managing urban growth to ensure that the rapid expanding cities in the region are both economically and environmentally sustainable, a UN official told the largest gathering on air quality management in the region. Speaking in Bangkok at the recent Better Air Quality 2008 (BAQ) workshop, which has brought together about 1,000...