Archive | May, 2011

MARKETS: Consultant said high energy prices could derail world economic recovery

(EnergyAsia, May 31 2011, Tuesday) — High oil prices could threaten the world’s already fragile economic recovery, said John Westwood, chairman of energy consultant Douglas-Westwood (DW). In a hard-hitting address at the recent Breakbulk Europe conference in Belgium’s Antwerp city, Mr Westwood cited his company’s research showing that since 1973 the US had entered recession […]

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AUSTRALIA: Prime Minister Gillard launched construction work on A$16-billion GLNG plant

(EnergyAsia, May 30 2011, Monday) — Australia’s Prime Minister Julia Gillard has officially launched construction works on the massive A$16-billion Santos Gladstone liquefied natural gas plant (LNG) on Curtis Island in Queensland state. (US$1=A$0.98). Witnessing the start of a new economic boom for the region at last Friday’s ceremony were the Queensland Premier Anna Bligh […]

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AUSTRALIA: Investors met mid-sized energy and resources firms at Singapore event. Reporting by SURESH NAIR

(EnergyAsia, May 30 2011, Monday) — Australia’s booming economy is opening up opportunities for Asian investors to buy into their energy and resources sector. Last week, the Australian Securities Exchange (ASX) held events in Hong Kong (May 24) and Singapore (May 26) for investors to meet with the executives of some of Australia’s small and […]

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AUSTRALIA: Shell to build multi-billion-dollar giant floating LNG terminal

(EnergyAsia, May 27 2011, Friday) — In announcing its decision to build the world’s first floating liquefied natural gas (FLNG) terminal, Royal Dutch Shell plc will also be laying claim to developing the biggest water-borne structure in history. The 448-m-long ‘Prelude FLNG’ facility, to be anchored 200 km off the Australian coast, will be constructed […]

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CHINA: Sinopec and Sabic to build polycarbonate plant in Tianjin

(EnergyAsia, May 27 2011, Friday) — Saudi Arabia’s petrochemical giant Saudi Basic Industries Corp (Sabic) said it and China’s Sinopec have signed a deal to build a 260,000-ton-a-year polycarbonate plant in Tianjin city for start-up in 2015. The new plant will be an extension to the three-million-ton-a-year petrochemical complex that the two companies jointly started […]

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CHINA: Vopak and partner to expand storage terminal in Tianjin

EnergyAsia, May 25 2011, Wednesday) — Dutch oil and chemical logistics firm Royal Vopak said it and equal joint-venture partner Tianjin Bohai Chemical Industry Group will develop the 240,000-cubic metre second phase of their terminal in China’s Tianjin city to store liquefied petroleum gas (LPG). The project includes three low-temperature tanks of 80,000 cbm each […]

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SINGAPORE: Keppel secures rig orders worth US$1.34 billion in May, year-to-date exceed S$6.5 billion

(EnergyAsia, May 25 2011, Wednesday) — Keppel FELS Limited, a subsidiary of Singapore’s Keppel Offshore & Marine Limited, said it has secured orders to build oil rigs worth a total of US$1.345 billion from various international clients in May, boosting the value of its year-to-date contracts to more than S$6.5 billion. (US$1=S$1.25). Its biggest order […]

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THAILAND: Foster Wheeler awarded contract to revamp residue fluidised catalytic cracking refinery unit

(EnergyAsia, May 25 2011, Wednesday) — Switzerland-based Foster Wheeler AG said a subsidiary in its Global Engineering and Construction Group has been awarded a contract to provide front-end engineering design (FEED) for a refinery in Thailand. The Star Petroleum Refining Company Limited (SPRC) awarded the contract for work on its residue fluidised catalytic cracking unit (RFCCU) […]

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