Nasdaq-listed Ivanhoe Energy through its 100% owned subsidiaries Sunwing Energy and Pan-China Resources, has signed a 30-year production-sharing contract with state PetroChina covering approximately 900,000 acres with a gross natural gas resource potential of five trillion cubic feet located in the western portion of the Sichuan Basin, China’s largest gas- producing region. “This is the...
SHANGHAI (AFX-ASIA) – PetroChina Co Ltd has been talking to foreign companies about the possibility of investing in the Chongqing-Hubei gas pipeline, the China Daily reported, citing a PetroChina official. Enron Corp had been lined up to buy a stake in the US$600 million project, but the deal was shelved after Enron’s collapse. The PetroChina...
OSAKA (AFX-ASIA) – India is considering establishing an oil stockpile along similar lines to the US, Indian Minister for Petroleum and Natural Gas Ram Naik said. Speaking recently at the International Energy Forum, he said the idea is being examined but the final requirements had not been determined. He added India had enough energy supplies...
Holland’s logistics company Vopak has announced the nomination of Jack P. de Kreij to its executive board from January 1 2003. Mr. De Kreij, the chief financial officer, is also in charge of strategic finance and corporate development. Mr de Kreij, a senior partner with PriceWaterhouseCoopers, is currently territory leader in the Netherlands for Transaction...
US independent energy company Unocal Corporation said that its Unocal Indonesia Company subsidiary had mobilised resources to address a thin hydrocarbon sheen near a deepwater well site off the coast of East Kalimantan in Indonesia last week. A survey by a remotely operated vehicle (ROV) shows hydrocarbon seepage from the plugged casing of the Ranggas...
BANGKOK (AFX-ASIA) – KGI Securities (Thailand) Plc said National Petrochemical Plc’s third quarter results will be affected by the one-month emergency shutdown of its propylene plant, although the impact is unlikely to be significant. In addition, the company is expected to benefit from the rise in olefin prices, KGI said, adding that it has a...
At The Opening Of Sibcon 2002, At Shangri-La Hotel, 26 September 2002, 9:00 am “Protecting the Singapore Brand” 1.ÊÊÊÊÊÊFirst, let me extend a warm welcome to all delegates to the 12th Singapore International Bunkering Conference (SIBCON 2002). To our foreign delegates, I wish you all a pleasant stay here and hope that you will have...
China’s CNOOC Limited said that it has signed an agreement to acquire from BP a 12.5% interest in the reserves and upstream production of the proposed joint venture in Indonesia’s Tangguh LNG Project. CNOOC Limited will pay BP approximately US$275 million through the acquisition of interests in Production Sharing Contracts (PSCs). The Tangguh LNG Project...