Archive | October, 2012

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SINGAPORE: Indonesian coal miner Geo Energy, offshore fabricating company Triyards make strong debut on public listing

(EnergyAsia, October 31 2012, Wednesday) — Shares of fabricating and engineering firm Triyards Holdings and Indonesian coal miner Geo Energy Resources Ltd have performed well since their trading debut on the Singapore Exchange less than two weeks ago. Triyards began trading on October 18 after it was spun off as a form of dividend by […]

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CHINA: PetroChina unit and TransCanada to jointly build C$3-billion oilsands pipeline

(EnergyAsia, October 31 2012, Wednesday) — Amid the intensifying debate over the role of Chinese state-owned companies in Canada’s oil and gas sector, a  PetroChina subsidary has concluded an equal joint venture deal with TransCanada  Corp to build a C$3 billion oil pipeline in Alberta province. Phoenix Energy Holdings Ltd, the Canadian subsidiary of PetroChina […]

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MARKETS: IEA, Goldman Sachs expect oil prices to be capped through 2016

(EnergyAsia, October 30 2012, Tuesday) — Weak demand and rising output will dampen the outlook on oil prices over the next five years, but geopolitical tensions and the risk of military conflict in the Middle East will keep the market from crashing, according to forecasts from two authoritative organisations. Both the International Energy Agency (IEA) […]

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SINGAPORE: Ezra Holdings reports 62% rise in full year profit to US$65 million on record revenue

(EnergyAsia, October 30 2012, Tuesday) — Ezra Holdings, a Singapore-based provider of offshore oil and gas services, said its full-year net profit rose 62% to US$65 million with revenues surging 76% to a record US$984.2 million in its 20-year history. The company attributed the sharp rise in revenue for the year to August 2012 to […]

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ASIA: Region at growing risk of oil supply disruption with declining self-sufficiency and lack of stockpile, says Chatham House report

(EnergyAsia, October 30 2012, Tuesday) — Asia is increasingly at risk of oil supply disruptions as the region does not have sufficient strategic stockpiles while its oil deficit is projected to rise to 30 million b/d in 2030 from 18 million b/d in 2010, said UK-based Chatham House. In a new report, the research institute […]

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MARKETS: OPEC raised forecasts for world oil demand for 2012 and 2013, but focus still on downside risks

(EnergyAsia, October 29 2012, Monday) — The Organisation of Petroleum Exporting Countries (OPEC) has marginally raised its forecasts for global oil demand to reach 88.81 million b/d in 2012 and 89.6 million b/d next year, but slashed the rate of growth for both years. Continuing its focus on the downside risks to the outlook for […]

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