Archive | April, 2011

SINGAPORE: Goldman Sachs, Harren & Partner to invest US$500 million in OIG

(EnergyAsia, April 29 2011, Friday) — The Harren & Partner Group and Goldman Sachs Capital Partners said they have agreed to invest a total of US$500 million in Singapore-based OIG Offshore Installation Group to help finance the company’s strategic growth and acquisition of additional vessels. OIG Offshore Installation Group is an offshore engineering contract procurement […]

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ASIA: Thermal coal contract prices hit new record high

(EnergyAsia, April 29 2011, Friday) — The contract price of thermal coal has risen to an all-time high, supported by rising demand from China and India, and Japan’s renewed interest. With nuclear power programmes facing cutbacks around the world following the crisis at Japan’s Fukushima reactors, countries will increase their demand for the three main […]

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INDIA: ABB awarded US$18 million contract to upgrade power plant automation

(EnergyAsia, April 28 2011, Thursday) — ABB, the Switzerland-based power and automation technology group, said it has won an order worth US$18 million to upgrade and modernise control systems a 1,260 megawatt (MW) thermal power plant in the western Indian state of Gujarat. The contract was awarded by Gujarat State Electricity Company Limited (GSECL) for […]

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CHINA: Rolls-Royce secures US$65 million contract to supply and install gas compression equipment

(EnergyAsia, April 28 2011, Thursday) — Rolls-Royce, the UK-based global power systems company, said it recently secured a contract to supply gas compression equipment to PetroChina, the country’s largest oil and gas producer, for its West-East gas pipeline project. Rolls Royce said it will supply and install its RB211 gas turbine compressor packages at the […]

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MARKETS: IMF expects global economic recovery to continue

(EnergyAsia, April 28 2011, Thursday) — High inflation and soaring oil prices in emerging economies create new challenges but the global economic recovery should continue, according to the latest assessment by the International Monetary Fund (IMF). In its recently released World Economic Outlook report, the IMF has maintained its global economic growth forecasts at 4.4% […]

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CHINA: Sinopec to continue holding down oil product exports

(EnergyAsia, April 28 2011, Thursday) — China Petrochemical Corp (Sinopec), Asia’s leading oil refiner, said it will stop oil-product exports indefinitely in the face of a worsening domestic supply squeeze and rising fuel prices that has triggered a major truckers’ strike in Shanghai. “We have suspended exports to regions other than Hong Kong and Macau,” […]

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