SINGAPORE: KBR completes US$350 million fabrication project in Singapore for Shell’s Nigeria use

Engineering company Kellogg Brown & Root (KBR) has completed a fabrication, integration and onshore commissioning project for the floating production, storage and offloading (FPSO) vessel, the “Sea Eagle”, for Shell Petroleum Development Company of Nigeria Limited (SPDC). The vessel departed from Singapore on August 3 en route to Nigeria. It will then be moored to […]

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SINGAPORE: Oil refiners, petrochemical companies expect tough 2nd half, says EDB

Singapore’s oil refiners and petrochemical companies expect margins and prices to remain under pressure in th second half of 2002, according to a recently released survey by state Economic Development Board. Overall, the country’s manufacturing sector expect the business outlook to remain weak as a result of the uncertain prospect of the US economic recovery. […]

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INDONESIA: June trade surplus US$2.18-2.4 billion vs US$2.31 billion in May

JAKARTA (AFX-ASIA) – Indonesia is expected to report a June trade surplus of US$2.18 to 2.4 billion against US$2.31 billion in May and US$2.02 billion a year ago, as export demand continues to recover in line with regional countries, economists said. Credit Suisse First Boston economist Sharad Bhandari forecasts a trade surplus of US$2.4 billion, […]

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INDONESIA: Gulf Resources (Grissik) Ltd announces MOU with Petronas to Supply natural gas to Malaysi

Indonesia-based Gulf Resources (Grissik) Ltd., an indirect subsidiary of Conoco Inc., has signed a Memorandum of Understanding (MOU) for the supply of natural gas from Sumatra Island to Malaysia. The MOU was signed with Indonesian state oil company Pertamina and Malaysia’s national oil and gas company Petronas. About 73% of the natural gas required by […]

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INDONESIA: BP’s Kaltim Prima Coal offers 51% stake to Indonesia after legal action dropped

JAKARTA (AFX-ASIA) – PT Kaltim Prima Coal (KPC) — a 50:50 joint venture between BP PLC and Rio Tinto PLC — today offered a 51 pct stake to the central government for sale to local investors, after receiving confirmation that legal action against it has been dropped. Energy and Mineral Resources Minister Purnomo Yusgiantoro told […]

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