AUSTRALIA: ExxonMobil to supply India’s Petronet LNG from Gorgon field

(EnergyAsia, September 1, Tuesday) — Exxon Mobil Corporation said an Australian subsidiary has agreed to the long-term supply of liquefied natural gas (LNG) to India’s Petronet LNG Limited from the proposed Gorgon LNG project in Western Australia. The agreement covers the supply of 1.5 million tonnes per year (million t/y) of ExxonMobil’s share of LNG…

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ASIA: China and India boost position in climate talks with ambitious solar power plans

(EnergyAsia, September 1, Tuesday) — China and India have unveiled bold plans to develop solar energy, putting teeth to goals for the use of renewable energy, and improving their positions with Western countries on climate change negotiations.   China is looking at increasing its solar power generation to 10 gigwatts (GW) by 2020 while the…

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AUSTRALIA: Power bills to rise on smart meter rollout

(EnergyAsia, September 1, Tuesday) — Households and small businesses in Australia’s Victoria state may see a A$150 increase in their power bills following the four-year implementation of smart meters. (US$1 = A$1.2). Smart meter technology will allow retailers to monitor electricity usage every 30 minutes instead of the current four times a year when someone…

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CHINA: Energy efficiency improves in the first half

(EnergyAsia, September 1, Tuesday) — The Chinese government said the country’s average energy consumption declined by 3.53% in the first half of 2009 from the same period last year. It attributed the fall to increased energy efficiency and its massive spending on clean energy projects embedded in its four-trillion-yuan stimulus package. (US$1=6.8 yuan). Possibly now…

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CHINA: MOU with US on clean energy cooperation signed

(EnergyAsia, September 1, Tuesday) — China and the US, two of the world’s largest emitters of environment-damaging gases, have signed a memorandum of understanding to improve cooperation on clean energy. The document, however, is said to be short on details, and does not resolve their differences on how to reduce greenhouse gas emissions that lead…

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CHINA: US upbeat on climate change discussions

(EnergyAsia, September 1, Tuesday) — The US has expressed optimism over its discussions with China on climate change issues.   The US chief climate negotiator, Todd Stern, said there were still differences in perspectives, but that the Chinese were keen on a successful outcome in the negotiations. Their recent strategic dialogue appears to have brought…

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SINGAPORE: Ezra in landmark deal to extract more value from its fleet management expertise

(EnergyAsia, September 1, Tuesday) — Ezra Holdings Limited, the Singapore-based support and marine services provider for the offshore oil and gas industry, said it has signed a vessel operating agreement (VOA) that will power its future returns and growth without any major capital outlay. As part of the agreement, Ezra said it will manage and…

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AUSTRALIA: US government’s US$32.5 million award for battery used in electric vehicles

(EnergyAsia, September 1, Tuesday) — The US government has awarded a US$32.5 million contract to a company to manufacture an advanced battery invented by Australian science agency CSIRO. The “UltraBattery”, to be produced by US manufacturer East Penn, is part of the US$2.4 billion funding programme for 48 advanced battery and electric-drive projects announced by…

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MARKETS: Who are the energy speculators?

(EnergyAsia, August 31, Monday) — The US, home to modern capitalism and the world’s oil industry, is seriously considering clamping down on energy speculation. Backed by populist sentiments amid rising commodity prices, the Commodity Futures Trading Commission (CFTC) is working with more than a dozen overseas regulators to define and reduce commodities speculation through tighter…

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AUSTRALIA: Industry wants greater role for natural gas in renewable energy targets

(EnergyAsia, August 31, Monday) — The Australian government should increase its focus on natural gas in future deliberations on renewable energy target (RET) legislation, said two associations linked to the gas industry. The Australian Petroleum Production & Exploration Association (APPEA) and the Australian Pipeline Industry Association (APIA) said the nation’s leaders should recognise natural gas…

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AUSTRALIA: Origin Energy announces Australia Pacific LNG site and predicts major jobs boost

(EnergyAsia, August 31, Monday) — Australia’s Origin Energy said it and its joint venture partner, ConocoPhillips, in Australia Pacific LNG, have secured the Laird Point site on Curtis Island in the Port of Gladstone from the Queensland state government as the site for its proposed liquefied natural gas (LNG) plant. Australia Pacific LNG is an…

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AUSTRALIA: Santos and GDF SUEZ to form strategic partnership

(EnergyAsia, August 31, Monday) — Australia’s Santos and GDF SUEZ, one of the world’s leading LNG companies, have announced a 40/60 partnership to jointly develop a floating LNG project in the Bonaparte Basin in Australia. The Bonaparte LNG project aligns the interests of both companies across the full value chain, from gas field resources to…

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COMPANY: Vopak raised forecast for 2009 earnings by 10% after 16.2% surge in 1H net profit

(EnergyAsia, August 31, Monday) — On the back of strong demand for its services and expansion of storage capacity, Dutch oil and chemical logistics giant Royal Vopak has raised its earnings expectation by 10% from its previous forecast of 450 million euro. It now expects to achieve an operating profit before depreciation and amortisation (EBITDA)…

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JAPAN: Kansai Electric cancels deal to buy LNG from Indonesia

(EnergyAsia, August 31, Monday) — In a major show of displeasure with Indonesia, Kansai Electric Power Co Inc, Japan’s second largest power producer, has cancelled its agreement to buy liquefied natural gas (LNG) from a plant in Central Sulawesi. The deal could not be fulfilled because of the Indonesian government’s recent ban on the export…

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KUWAIT: Planned attack on Shuaiba refinery foiled

(EnergyAsia, August 31, Monday) — The Kuwaiti government said it has foiled a planned attack by an Al Qaeda-linked group on its Shuaiba oil refinery during the Muslim holy month of Ramadan.   Security forces said the unidentified group had used Google Earth to acquire images of the 200,000 b/d plant, one of Kuwait’s three…

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DUBAI: Oiltanking raised stake in Star Energy’s Jebel Ali terminal to 50% from 25%

(EnergyAsia, August 31, Monday) — Germany’s Oiltanking Group said it has increased its shareholding in the Star Energy oil terminal in Dubai’s Jebel Ali free zone from 25% to 50%. The strategically-located terminal is now equally owned with the Abu Dhabi-based Star Energy Group. The 857,000-cubic metre terminal, which stores and handles a wide range…

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PAPUA NEW GUINEA: Upstream company Oil Search reports significant drop in profits

(EnergyAsia, August 28, Friday) — Papua New Guinean upstream company Oil Search Limited said its profit for the six months ended June 30 2009 plunged to US$35.6 million from US$133.3 million reported for the same period last year. The company attributed the fall to lower oil sales and weaker oil prices stemming from the global…

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INDONESIA: Technip awarded contract for oil recovery trial project in Sumatra

(EnergyAsia, August 28, Friday) — French engineering firm Technip said it has won a lump sum services contract from PT Chevron Pacific Indonesia for work on the Minas oil field in Sumatra, Indonesia. The contract covers detail engineering, project management, procurement assistance and construction management for water treatment and cooling facilities, polymer and surfactant mixing…

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INDONESIA: State Pertamina aims to expand stake in proposed refinery project with Mitsui & Co

(EnergyAsia, August 28, Friday) — State-owned Indonesian gas and oil firm PT Pertamina is seeking a bigger stake in its proposed US$1.5 billion joint venture with Japan’s Mitsui & Co for an oil refinery project in Central Java. The move, however, could put in jeopardy financing that was originally secured for the project with the…

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CHINA: Qatar, Shell and PetroChina propose to build massive oil refining and petrochemical project

(EnergyAsia, August 28, Friday) — PetroChina, Royal Dutch Shell and Qatar have asked China’s overall economic planning agency, the National Development and Reform Commission, for approval to build a large refining and chemical complex in Taizhou city in eastern Zhejiang province. The complex will include a 400,000 b/d oil refinery, a 1.2-million-ton-per-year ethylene plant and…

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CHINA: New site chosen for KPC-Sinopec refinery project

(EnergyAsia, August 28, Friday) — Kuwait Petroleum Corporation and China’s Sinopec Group have agreed on a new site for a mega refining-and-petrochemical joint venture project, boosting chances for its approval by the Chinese government later this year. The plant will be located on Donghai Island in the coastal city of Zhanjiang in China’s Guangdong province….

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AUSTRALIA: ExxonMobil and PetroChina sign US$41 billion Gorgon LNG supply agreement

(EnergyAsia, August 28, Friday) — Exxon Mobil Corporation and PetroChina Company Limited said their affiliates have signed a sales and purchase agreement for a 20-year supply of liquefied natural gas (LNG) from the proposed Gorgon LNG Project in Western Australia. The contract for the supply of 2.25 million tonnes per year of the ExxonMobil affiliate’s…

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AUSTRALIA: Chevron hails Canberra’s environmental approval for the Gorgon project

(EnergyAsia, August 28, Friday) — Chevron Australia Pty Ltd has welcomed what it calls the timely approval of the Gorgon natural gas project’s revised and expanded scope by Australia’s Environment Minister, Peter Garrett. PetroChina and India’s Petronet have committed to buy a total of A$60 billion worth of liquefied natural gas from the Chevron-operated Gorgon…

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AUSTRALIA: Caltex enters into bunkering agreement with Korevaar Marine Group

(EnergyAsia, August 28, Friday) — Caltex Australia said it will enhance its large-scale marine bunkering operations in Queensland after entering into an agreement with the specialist barge operator, Korevaar Marine Group. The long term agreement will see Korevaar’s double-hulled self-propelled barge Bunker V used by Caltex to refuel a varied market of cruise ships, coastal…

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ASIA: National oil companies no threat yet to Western interest in Africa, says UK’s Chatham House

(EnergyAsia, August 27, Thursday) — Western oil companies continue to dominate Africa despite the recent entry of national oil companies from Asia, said a study by UK’s Chatham House. The study, ‘Thirst for African Oil: Asian National Oil Companies in Nigeria and Angola’, said Western fears about an Asian takeover in the Nigerian and Angola…

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