Archive | February, 2009

SINGAPORE: KTL report 37.4% net profit growth to S$3 million for 1H FY09

(EnergyAsia, February 27, Friday) — KTL Global Limited, a Singapore-based supplier of rigging equipment to the offshore oil and gas sector, has reported a 37.4% year-on-year increase in net profit to S$3 million for the half-year ended December 31 2008. (US$1=S$1.5). Group revenue increased 37.7% to S$37.4 million, boosted by strong demand for its products […]

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CHINA: CNOOC plans to acquire refiner Zhoushan Hebang

(EnergyAsia, February 27, Friday) — China National Offshore Oil Corp (CNOOC) is planning to buy oil refiner and aromatics producer Zhejiang Zhoushan Hebang Chemical. CNOOC is pursuing the takeover of Zhejiang Zhoushan Hebang, which has a production capacity of 250,000 tonnes per year, through its affiliate, CNOOC Ningbo Daxie Petrochemical Ltd, a fuel oil producer. […]

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TAIWAN: Lithium rechargeable battery supplier Boston-Power to set up R&D centre

(EnergyAsia, February 27, Friday) — In light of Taiwan’s dominance in the global market for notebook PCs, US-based Boston-Power Inc, a globally well-known supplier of lithium rechargeable batteries, said it is going to set up an R&D centre on the island. It also plans to ally with local notebook PC manufacturers to compete against Japanese […]

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CHINA: CNOOC completes building storage tank, starts constructing another in Guangdong

(EnergyAsia, February 27, Friday) — State-owned CNOOC has started work on a new 40,000-cubic metre oil products storage tank in the coastal city of Shaoguan in southern China shortly after it completed the construction of a much larger terminal in another part of Guangdong province. The 80-million-yuan terminal will help store and distribute oil products […]

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INDONESIA: Japan’s MHI receives order for gas-fired power plant from PT PLN

(EnergyAsia, February 27, Friday) — Japan’s Mitsubishi Heavy Industries Ltd (MHI) said it has received a full-turnkey order for a 750 MW natural gas-fired gas turbine combined-cycle (GTCC) power plant from PT PLN, Indonesia’s state-owned electricity company. PLN is planning to build a new GTCC power plant on the premises of the existing Tanjung Priok […]

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CHINA: Puda Coal to restructure six mines, build coal power plant in Shanxi province

(EnergyAsia, February 27, Friday) — Puda Coal Inc, a US-listed supplier of high grade metallurgical coking coal used in steel manufacturing, said it has signed a letter of intent with a local county government in China’s Shanxi province to consolidate the county’s six coal mines and build a coal power plant. The county will apply […]

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AUSTRALIA: Noble expressed ‘serious concerns’ over merger between Gloucester and Whitehaven Coal

(EnergyAsia, February 27, Friday) — Singapore-listed commodities trader Noble Group has expressed “serious concerns” over Gloucester Coal’s planned A$900-million merger with fellow Australian coal miner Whitehaven Coal. (US$1=A$1.55). Despite being Gloucester’s largest shareholder with a 21.7% stake, Hong Kong-based Noble said it was not informed or consulted by Gloucester’s board of Directors prior to the […]

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