Archive | November, 2010

VIETNAM: Cavico secures Phase 1 of Dong Giao coal mine construction contract

(EnergyAsia, December 1 2010, Wednesday) — Cavico Corp, a NASDAQ-listed infrastructure construction, infrastructure investment, and natural resources conglomerate based in Vietnam, said its subsidiary, Cavico Infrastructure, has secured Phase I of a construction contract with Tay Nguyen Mineral Exploitation Company, a subsidiary of East North Company of Vietnam’s Ministry of Defence. Cavico Infrastructure will excavate […]

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COMPANY: Another four companies join globalCOAL

(EnergyAsia, December 1 2010, Wednesday) — globalCOAL said that HC Trading Malta Ltd, Lubelski Wegiel Bogdanka SA, Hess Energy Power & Gas Company and Traxys Europe S.A have all joined the globalCOAL trading community as market members. HC Trading is a subsidiary of the HeidelbergCement Group, a leading manufacturer of aggregates, cement and concrete listed […]

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MARKETS: Crude oil prices continue to head up

(EnergyAsia, December 1 2010, Wednesday) — Oil prices are heading higher in the coming months on a confluence of factors: a weak dollar, the US Federal Reserve’s decision for more quantitative easing, robust global demand, and pressure on OPEC to accept a higher price range. Oil has been at the top end of its 15-month […]

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PHILIPPINES: Phoenix Petroleum to set up storage facility

(EnergyAsia, December 1 2010, Wednesday) — Phoenix Petroleum Philippines Inc is investing 123 million peso to set up a storage facility for petroleum products in Zamboanga City in southern Philippines. (US$1=44 peso). The 4.9-million-litre facility will store biodiesel, gasoline and jet fuel to meet the demands of consumers in southern Philippines. The company also plans […]

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SAUDI ARABIA: Two companies to help Ivory Coast firm double fuel storage capacity

(EnergyAsia, December 1 2010, Wednesday) — Two Saudi firms have been awarded contracts worth a total of US$400 million to help Ivory Coast fuel storage company GESTOCI double its capacity to 680,000 cubic metres. Pipeline contractor Faysal M Qahtani Sons (FMQ) and financier Global Trading Group will jointly work on rebuilding a 60,000-cubic metre facility […]

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CHINA: Oil storage capacity to reach 78 million cubic metres by 2015

(EnergyAsia, November 30 2010, Tuesday) — China’s largest oil firms, CNPC and Sinopec, are expected to have a storage capacity of 50 million cubic metres by 2015, nearly equal the country’s total oil stockpile capacity. According to the China Petroleum Planning and Engineering Institute, the country’s other oil firms are expected to have a storage […]

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AUSTRALIA: Santos announces supply of 750PJ of Eastern Australian gas to GLNG

(EnergyAsia, November 30 2010, Tuesday) — Australian upstream company Santos Limited said it will supply 750 petajoules (PJ) of gas from its Eastern Australian gas reserves to its Gladstone Liquefied Natural Gas (GLNG) project in Queensland. Sourced mainly from existing uncontracted Cooper Basin 2P reserves, the supply agreement not only accelerates monetisation of these LNG […]

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CHINA: Sinopec halts diesel exports

(EnergyAsia, November 30 2010, Tuesday) — State-owned Sinopec said it has halted all diesel exports to help ease a nation-wide diesel shortage and also help suppress inflationary pressures. Sinopec’s decision will help ease the diesel shortage that’s blamed on the government’s forced power shutdowns aimed at generating energy savings. Possible hoarding by oil companies is […]

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