Archive | February, 2010

VIETNAM: PetroVietnam expects oil revenue to fall further in 2010 after 20% drop last year

(EnergyAsia, March 1 2010, Monday) — State-owned PetroVietnam said its revenues fell 20% last year as compared with the previous year when crude oil prices reached record highs of more than $147 per barrel. Vietnam’s economy is dependent on oil exports, which account for 16% of the country’s gross domestic product. PetroVietnam said it expects […]

Continue Reading 0

SOUTH KOREA: Oil companies’ refining businesses perform poorly

(EnergyAsia, March 1 2010, Monday) — Two South Korean oil companies said losses at their refinery operations dragged down their sales and income for 2009. SK Energy’s operating profit fell to 901.4 billion won or less than half the previous year’s profit. Its petrochemicals business registered a record operating profit of about 600 billion won, […]

Continue Reading 0

QATAR: Ras Laffan 3 LNG train 7 begins production

(EnergyAsia, February 26 2010, Friday) — Ras Laffan Liquefied Natural Gas Company Limited 3 or Ras Laffan 3 said it has started up train 7 at Ras Laffan Industrial City in Qatar. The project, a joint venture of Qatar Petroleum (70%) and ExxonMobil Ras Laffan (3) Limited (30%), represents another expansion of LNG production facilities […]

Continue Reading 0

MARKETS: Obama adviser wants banks barred from risky financial activities like derivatives trading

(EnergyAsia, February 26 2010, Friday) — US President Barrak Obama’s economic recovery adviser Paul Volcker wants the government to prohibit banks from “risky financial activities” like derivatives trading and leave these only to hedge funds. Speaking recently in the UK, he said banks should stick to providing basic banking services, and let hedge funds undertake […]

Continue Reading 0

Developed by Bowtie