COMPANY: Unocal sees production, earnings growth from global projects

Unocal Corporation expects significant growth in production, earnings and cash flow over the next five years from crude oil and natural gas development projects that have been sanctioned or expected to be approved soon, the company told financial analysts last week. Speaking at an analyst meeting, Charles R. Williamson, Unocal chairman and CEO, said the […]

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CHINA: Most Hong Kong taxis have converted to LPG

More than 75% of Hong Kong’s taxi owners have replaced their diesel taxis with liquefied petroleum gas (LPG) taxis, according to financial analysts at ING Financial Markets. In a recent report, Hong Kong-based analysts of the company with said that over 75% of taxis owners have taken advantage of a government subsidy and converted their […]

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PHILIPPINES: Petron sees 0.80-1.50 pesos/litre price rise with new fuel specs

MANILA (AFX-ASIA) – Petron Corp may have to pass on to consumers a price increase of 0.80 to 1.50 pesos per litre for gasoline products that comply with new benzene and aromatics specifications, spokeswoman Virginia Ruivivar said. (US$1=52 pesos) She said “there’s no question” that Petron will comply with the new gasoline specifications required under […]

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CHINA: Updates on Huaneng Power, Nanshan Power

HONG KONG (AFX-ASIA) – Huaneng Power International Inc said it has entered into a deal worth 50.6 million yuan per year to offer management services for thermal power plants managed and controlled by China Huaneng Group and Huaneng International Power Development Corp. (US$1=8.28 yuan). China Huaneng owns a 51.98% stake in Huaneng International, which in […]

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PAKISTAN: Punjab province hit by LPG shortage

Pakistan is facing an acute liquefied petroleum gas (LPG) shortage in the southern Punjab area following shutdowns of two LPG producing units in the country and high international LPG prices, which have curbed imports, local newspapers have reported. LPG prices have recently risen to Rupee50/kg (1US$=58.6 Rupee), from Rupee 37/kg before. While long queues formed […]

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MARKETS: Chevron awarded patents on low-emission gasolines containing ethanol and methods for blendi

Chevron U.S.A. Inc., a subsidiary of ChevronTexaco Corp., said that the Patent and Trademark Office has recently issued the company patents on low-emission gasolines containing ethanol and on methods for blending those gasolines. These patents, issued as part of a series of patent applications filed by Chevron U.S.A. Inc., are directed to various reformulated gasoline […]

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