Archive | March, 2012

MARKETS: Canadian crude discount to US WTI to grow, to average US$27 in 2014, predicts BENTEK Energy

(EnergyAsia, March 29 2012, Thursday) — Western Canadian Select (WCS) crude prices will continue to weaken against West Texas Intermediate (WTI) and will sell for an average discount of US$27 below the US benchmark in 2014, predicts BENTEK Energy, a US-based energy markets information and analytics company. Earlier this week, the Canadian discount surged above […]

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ASIA: Rising LNG demand to drive region’s offshore marine growth

(EnergyAsia, March 29 2012, Thursday) — The following is an edited version of an article written by Alex Bailey on behalf of Seatrade, a producer of maritime and cruise publications, conferences and exhibitions. Soaring demand for liquefied natural gas (LNG) across Asia is driving major new investments into exploration and infrastructure capabilities. This will stimulate […]

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INDONESIA: Foster Wheeler awarded project management consultancy contract for Cilacap refinery upgrade

(EnergyAsia, March 28 2012, Wednesday) — Foster Wheeler AG said a subsidiary of its Global Engineering and Construction Group has been awarded a contract by PT Pertamina, Indonesia’s state oil company, to provide project management consultancy services for the residue fluid catalytic cracker (RFCC) project at the Cilacap refinery on Java Island. Foster Wheeler will […]

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CHINA: Sinopec blames refining losses for slow growth in 2011 net profit

(EnergyAsia, March 27 2012, Tuesday) — China Petroleum and Chemical Corp (Sinopec Corp), the country’s second largest integrated oil company, said its 2011 net profits grew by just 1.3% as downstream losses from its refining and marketing operations offset upstream gains. With its net profit at 71.7 billion yuan, the company reported basic earnings of […]

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INDONESIA: Classification society RINA appointed to work on world’s first marine CNG project

(EnergyAsia, March 27 2012, Tuesday) — International classification society and verification group RINA said it has been appointed by Indonesia’s electricity utility PT PLN to help develop the world’s first marine compressed natural gas (CNG) project. PLN expects to begin delivering between 3,000 and 6,000 standard cubic feet (mscf) per day of CNG from the […]

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ASIA: Canada’s oil and gas industry cheers government’s free trade talks with Japan, South Korea and Thailand

(EnergyAsia, March 27 2012, Tuesday) — Canada’s upstream oil and natural gas industry said it welcomes and encourages federal initiatives to negotiate trade-related agreements with Asian countries given their strong and growing need for oil and natural gas and growing importance in global energy markets. Prime Minister Stephen Harper, presently on his second visit to […]

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AUSTRALIA: Caltex’s new bunker tanker to support Sydney shipping boom

(EnergyAsia, March 27 2012, Tuesday) — As a boost to its national marine fuel supply network, Caltex Australia has added a new 65-metre bunker tanker, Anatoma, to its Sydney operations. The company’s leading downstream oil company said it has signed a service agreement with SVITZER to operate the double-hulled bunker tanker, which will begin delivering […]

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