Soaring crude prices caused last month’s trade deficit

High crude oil prices caused Thailand to suffer a US$216-million trade deficit last month, the first since April, the Commerce Ministry announced. The bill for August’s crude oil imports rose 82% year-on-year to US$1.26 billion, according to the Bangkok Post. The value of all imports in August rose 35.3% year-on-year to a record of $8.5...

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Maritime authority to implement new bunkering measures to maintain port’s leadership

The Maritime and Port Authority of Singapore (MPA) will be implementing several new initiatives to upgrade the bunkering industry and enhance its services in port.  The schemes will also help prepare the multi-billion Singapore bunkering industry meet the revised international requirements on tankers being adopted. Yeo Cheow Tong, Singapore’s Minister for Transport, announced the MPA’s...

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Korea Gas asked to up its offer for a stake in Malampaya field

A consortium led by the Korea Gas Corp (Kogas) has submitted a “lower than expected” bid for a 4.9% stake in the Philippines’ US$4.5 billion Malampaya field, said state-owned Philippine National Oil Co Exploration Corp (PNOC-EC). PNOC EC officials told the Philippine Star newspaper that negotiations are underway for the consortium to raise its offer...

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Malaysian firm to expand LPG, NGL facilities at Adhi Field

Ranhill Berhad, a Malaysian engineering company, has won a US$21 million contract to expand the liquefied petroleum gas (LPG) and natural gas liquids (NGL) recovery facilities at the Adhi field in Pakistan’s northern districts of Punjab province.             State-owned Pakistan Petroleum Limited (PPL), which awarded the contract, said it has increased the recoverable reserves of...

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President Roh brings home new sources of energy after Kazakhstan and Russian visits

President Roh Moo-hyun’s recent visits to Kazakhstan and Russia are expected to secure new sources of energy, giving Korea an opportunity to restructure its energy sector, according to the Korea Herald. Korea’s heavy dependence on imports underlines the importance of the agreements signed in Russia and Kazakhstan, which are expected to expand bilateral development of...

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San-Ai Oil to buy Exxon Mobil’s Kygnus Sekiyu’s fuel stations

Oil retailer San-Ai Oil Co has announced it will buy over the retail business and assets of Kygnus Sekiyu KK, an oil distributor affiliated with Exxon Mobil Corp. The value of the deal, to be concluded by December, was not disclosed, said the Japan Times.              The deal will give San-Ai Kygnus’s network of about...

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Taiwan’s CPC and CNOOC to collaborate to explore for oil and gas in the Taiwan Straits

Taiwan’s Chinese Petroleum Corporation (CPC) and the China National Offshore Oil Corporation (CNOOC) will jointly explore for oil and gas near Penghu in the middle of the Taiwan Straits. According to CPC, the two sides, and CNOOC have collaborated before in the Tainan Basin and the Chaoshan Trough. While they did not find any hydrocarbons,...

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Santos awards second sales contract for John Brookes gas field

Australia’s upstream company Santos Limited said that its wholly owned subsidiary, Santos (BOL) Pty Ltd has signed a second gas sales contract for the John Brookes gas field. Under the contract, Santos (45%) and Apache Northwest Pty Ltd (55% and oerator) will supply EDL LNG (WA) Pty Ltd, a subsidiary of Energy Developments Limited (EDL)...

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Ingersoll Rand — Microturbines for continuous power supply

For governments, business planners and security experts around the world, power cost and reliability of supply are becoming a growing source of concern. As proven in the great black-out of North America and parts of Europe in the summer of 2003, the recent shutdown of nuclear plants in Japan, and now amid China’s power crisis,...

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ADB to extend $15 million for education and energy loans

Asia Development Bank (ADB) is planning to extend US$15 million in loans for the education and energy sectors of Samoa, according to a Country and Strategy Program (CSP) Update for 2005-2006 endorsed by ADB’s Board of Directors. The ADB said it is extending a $10 million loan for 2005 to promote the use of indigenous...

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Digital Gas joins Quanta consortium to build two 400-MW waste-to-power plants

New York-based Digital Gas, Inc said its subsidiary, Digital Energy & Farming Asia LLC (DEFA), has signed an agreement to join the Quanta Energy Environment consortium, which has received approval from the Taiwan government to build two400-MW waste-to-energy plants in Taiwan.            Quanta received foreign investment approvals from the Investment Commission of the Ministry of Economy...

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New deal with Kazakhstan on energy and power resources

South Korea and Kazakhstan agreed this week to jointly develop the Caspian oil field and an uranium field in southern Kazakhstan, according to the Korea Times. Korean President Roh Moo-hyun and Kazakh President Nursultan Nazarbayev also signed an agreement and a memorandum of understanding (MOU) on joint exploration of energy and mining resources, a protocol...

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BP Migas seeks to settle Sukawati oil field dispute

Oil and gas upstream authority BP Migas is seeking to resolve a dispute involving ExxonMobil, state-owned Pertamina and PetroChina over production tests at the Sukawati oil field in East Java, according to the Jakarta Post. The dispute centres on production tests at the Sukawati oil field being carried out by joint venture JOB Tuban which...

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Origin Energy says it extended help to 8,000 customers

Australia’s Origin Energy said it extended help to some 8,000 households experiencing financial difficulty over the last 12 months.             It said it introduced the “Power On” policy in July 2003 to assist financially-strapped customers, demonstrating its commitment to ensuring the entire community can responsibly access electricity and gas, regardless of their financial circumstances.            ...

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PTTEP announces investment in Block B-17-01 in the Joint Development Area (JDA)

Thailand’s PTT Exploration and Production Public Company Limited (PTTEP) said Bangkok has approved a production sharing contract, Block B-17-01, between the Malaysia-Thailand Joint Authority and PTTEP International Limited (a subsidiary of PTTEP), and PC JDA Limited (an affiliate of Petronas Carigali), as proposed by the Ministry of Energy. The participation interest will be 50% and...

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A*STAR and Mitsui Chemicals Inc sign R&D partnership, boosting local chemical industry

Mitsui Chemicals, Inc. (Mitsui), one of the largest chemical companies in Japan, recently signed a master R&D agreement with A*STAR’s (the Agency for Science, Technology and Research) research institutes, the Institute of Chemical and Engineering Sciences (ICES), and the Institute of Materials Research and Engineering (IMRE). The master agreement, signed by Akihiro Yamaguchi, managing director,...

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Government, Oman LNG and Union Fenosa are partners in the Qalhat LNG project

Oman’s government has signed a shareholders agreement making Oman LNG and Union Fenosa Gas its partners in Qalhat LNG (SAOC). The agreement was among several signed concerning Qalhat LNG. The others include two agreements on gas supply and shipping between Oman LNG and the Oman Shipping Company and an agreement on shared use of facilities...

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Tokyo Gas invests in Mexican power generation project

Japan’s Tokyo Gas Co Ltd has agreed with InterGen to jointly invest in Mexico’s Bajio power project. Tokyo Gas said this is the first time it its investing in a power generation business outside Japan.                 Bajio is a natural-gas-fired combined cycle Independent Power Producer (IPP) with total generation capacity of 601 megawatts (MW), located...

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New contracts pave the way for Indonesian LNG supplies

New sale contracts signed earlier this month for China’s second liquefied natural gas (LNG) project in Fujian Province will pave the way for imports from Indonesia in 2007, reported the China Daily. The gas to be imported from Tangguh in Indonesia will be sold by the project’s operator, China National Offshore Oil Corp (CNOOC), to...

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MoU with Myanmar soon to develop hydro power

Thailand hopes to soon sign a memorandum of understanding (MoU) with the government of Myanmar for a joint feasibility study to develop a 4,000MW hydro power plant on the Salawin river. Thailand’s electricity needs are mostly met by natural gas (70%), coal (17%) and oil (10%), while hydro power accounts for only 3%, according to...

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Singapore Power appoints TXU executives

State-owned Singapore Power has named former TXU executive Len Gill as chief of its new Australian energy business. The Singapore company had bought the Australian business from US electricity supplier TXU Corp for A$5.1 billion in April. Mr Gill was then general manager for TXU’s wholesale energy operations. Singapore Power’s Australian business now includes the...

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Financing concluded on Asia’s largest wind power project

South Korea is to have its first independent windpower project thanks to the recent conclusion of financing from an international consortium. The 39.6 MW Youngduk wind power farm in North Kyongsang is the first non-recourse financed wind power project in the Asian region, according to a press release issued by the law firm that represented...

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MHI-led consortium wins order for geothermal power plants in Iceland

Japan’s Mitsubishi Heavy Industries Ltd, in a consortium with Balcke Durr GmbH, a German engineering company, has received a turnkey order from Reykjavik Energy in Iceland, to build two 40 MW geothermal power plants at Hellisheidi, some 20 km east of Reykjavik. The order marks the eighth geothermal power plant consigned to MHI by the...

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Lavan port to start taking in 300,000-ton oil tankers

The first 300,000-ton oil tanker ship will start loading in Lavan port soon, said Gholam Abbas Jokar, the director of engineering and construction at the Iranian Offshore Oil Company. He told Petroenergy Information Network that a buoy installed in the region for berthing 300,000-ton ships is ready for operation. The buoy is ready to accommodate...

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Government promises to reduce fuel subsidy next year

The Indonesian government and the House of Parliament’s working committee reached an agreement last week to reduce 2005’s national budget allocated to fuel subsidy from an earlier target of Rp 21 trillion to Rp19 trillion, according to Antara news agency. (US$1 = 9,009 rupiah).             Committee chairman Arief Mudatsir Mandan said the government estimated that...

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