Singapore’s Keppel Offshore & Marine (Keppel O&M) said it has secured two newbuild contracts totalling S$60 million through its wholly-owned subsidiaries, Keppel Verolme in the Netherlands and Keppel AmFELS in USA. (US$1=S$1.65). Keppel Verolme has been contracted by Perenco UK Limited, a petroleum, exploration and production company, to design and construct a Mobile Offshore...
Sakhalin Energy Investment Company Ltd has announced that the Vityaz Complex off Sakhalin Island in the Russian Far Eats has successfully completed its Sixth Production Season. The cumulative oil production for the 2004 season was 11.69 million barrels. The 2004 production season closed on December 11 when the Okha floating storage and offloading unit...
Indian upstream company ONGC has signed a contract with the Moscow-based Skochinsky Institute of Mining (SIM) for technical collaboration in developing underground coal gasification (UCG) technology. ONGC said the contract marks a significant step in its effort to develop gas from India’s underground “unmineable” coal reserves. The contract was recently signed by ONGC’s executive...
Shell Todd Oil Services Limited (STOS) has awarded French engineering firm Technip a contract for the supply and installation of flexible lines and umbilicals, and the installation of the wellhead platform of the Pohokura gas development project in New Zealand. STOS, a unit of the Royal Dutch Shell group, awarded the contract on behalf of the...
The Philippines’ Department of Energy (DOE) has approved South Sea Petroleum Holdings Ltd’s application to explore for oil and gas in the Agusan-Davao basin in Davao province. South Sea Petroleum applied for Service Contract (SC) 45, one of the first contracts to be signed by the DOE after the Supreme Court ruled the Philippine Mining...
Australian upstream company Santos Limited has announced that the A$200 million Casino gas field development in the waters off Victoria has been granted formal environmental approval by Canberra. Santos is operator and 50% stakeholder of the VIC/P44 joint venture, which includes Peedamullah Petroleum Pty Ltd, a wholly-owned subsidiary of AWE (25%) and Mittwell Energy Resources...
BASF-YPC Co. Ltd, an equal joint venture between German and Chinese interests, has produced its first methyl acrylate chemical product in an integrated petrochemical site in Nanjing, China. BASF has describted the December22 start-up of the plant as “an ambitious goal set by BASF and Sinopec when they established their joint venture in 2000.”...
Syntroleum Corp has been granted a worldwide licence under ExxonMobil’s gas-to-liquids (GTL) patents to produce and sell fuels from natural gas or other carbonaceous substances such as coal, the two companies said in a joint statement. Syntroleum has the right to extend the terms of this agreement to its licencees under an agreement it signed...
Openspec naphtha tonne C+F Japan – US$ 402.75 (-US$11.25 from Dec 22 closing) 95 ron unleaded gasoline barrel FOB Singapore – 44.00 (+0.15) Jet kerosene barrel FOB Singapore – 51.97 (-0.93) Gasoil barrel FOB Singapore – 50.10 (-1.40) LSWR barrel FOB Indonesia – 22.42 (-0.88) HSFO 180cst tonne FOB Singapore – 176.81 (-8.44) HSFO 380cst tonne FOB Singapore – 156.89 (-8.11)...
The outgoing chief of Australia’s peak pipeline industry body has predicted a highly active period of development over the next five years. Allen Beasley – who will stand down in March 2005 after six years as chief executive of the Australian Pipeline Industry Association (APIA) Ð said the nation’s pipeline industry and the gas...
US-based Northern Power Systems, Inc., a subsidiary of Distributed Energy Systems Corp. (Nasdaq: DESC), has been selected to provide integrated power systems for two major projects along a pipeline on Sakhalin Island located in the Russian Far East. Under the terms of two separate contracts valued in the aggregate at approximately US$5 million, Northern...
Malaysia’s national oil and gas corporation Petronas is expected to contribute RM25 billion (US$6.6 billion) to the country’s income this year based on the company’s profit for 2004, said Minister in the Prime Minister’s Department, Mr Mustapa Mohamed. Malaysian news agency Bernama quoted him as saying that Petronas’s contribution would mostly be in the form...
In a new report, Greenpeace and nef (New Economics Foundation) said rich countries are already spending billions of dollars to adapt to climate change. Meanwhile poor countries, who will suffer the impacts of climate change first and worst, are being fatally short changed, as industrialised nations abdicate responsibility for a problem they are overwhelmingly responsible...
US upstream company Amerada Hess Corporation has announced that an agreement has been reached to secure future natural gas sales from Block A-18 of the Malaysia-Thailand Joint Development Area (JDA). The agreement also provides for the acceleration of natural gas sales from the block. Amerada Hess and Petronas Carigali, Malaysian state upstream compay, are equal...
US independent ConocoPhillips has approved approximately US$1.8 billion in cash capital commitments for the multi-year second development phase of its Peng Lai (PL) 19-3 field in Block 11/05 in China’s Bohai Bay. The company said final project sanction is subject to approval of the overall development plan by China’s National Development and Reform Commission. ...
Jurong SML, a unit of Singapore’s SembCorp Marine, has secured a US$32 million deal to construct two units of 4,950 dwt tankers for Kuwait Oil Tanker Company S.A.K. (KOTC). The double hull tankers, each measuring 83.5m x 19.0m x 8.2m will have a 4,000 hp medium speed engine with UMS notation. Classed under Lloyd’s...
China Aviation Oil (Singapore) Corporation Ltd (CAO) said its wholly-owned subsidiary CAOT Pte Ltd (CAOT) has received offers for the entire 460,000 metric tons of jet fuel available for tender and that the ultimate buyers will proceed to enter into contracts with the successful suppliers. Financially stricken CAO is unable to trade after declaring...
State Electricity of Vietnam (EVN) corporation said it had produced a total of 44 billion kWh electricity up to December 10, reaching the target set for the 2001-2005 period, one year and 21 days ahead of schedule. According to a report from the Vietnam News Agency, the EVN has, over the past four years, obtained...
The parties to the long-running human rights case related to Unocal’s energy investment in the Yadana gas pipeline project in Myanmar have announced a settlement in principle. Although the terms of the settlement have been kept confidential, a Unocal media release said it would “compensate the plaintiffs and provide funds enabling plaintiffs and their representatives...
Taiwan’s Formosa Chemicals & Fibre Corporation (FCFC), a subsidiary of the plastics giant Formosa Plastics Group, has announced plans to set up a US$47.5 million synthetic phenol plant in China. According to the China Economic News Service, FCFC has benefited from strong world demand for benzene products over the past two years. Synthetic phenol is...
Indian state-run gas utility, Gas Authority of India Limited (GAIL), is eyeing a 10% stake in China Gas Holdings Ltd, which has exclusive rights to set up city gas distribution projects in 42 cities in China. “China Gas has offered us equity to bring value to their city gas distribution projects,” Gail chairman and managing...
Openspec naphtha tonne C+F Japan – US$ 414.00 (-US$10.83 from Dec 21 closing) 95 ron unleaded gasoline barrel FOB Singapore – 43.85 (-1.63) Jet kerosene barrel FOB Singapore – 52.90 (-1.60) Gasoil barrel FOB Singapore – 51.50 (-1.76) LSWR barrel FOB Indonesia – 23.30 (-0.03) HSFO 180cst tonne FOB Singapore – 185.25 (-4.67) HSFO 380cst tonne FOB Singapore – 165.00 (-7.31)...
Indonesian state-owned oil company Pertamina raised the price of its liquefied petroleum gas (LPG) by around 41% and those of its Pertamax and Pertamax Plus high-quality gasolines by over 60%, Indonesian news agency Antara reported. “The price of LPG is to be raised from 3,000 rupiah (32 US cents) per kilogram to 4,250 rupiah...
Japanese engineering firm Chiyoda has signed with the Qatar Liquefied Gas Company Limited II a contract for engineering, procurement and construction of the onshore facilities with the world’s two largest LNG trains. The US$4 billion contract will be executed by a joint venture of Chiyoda Corporation and Technip of France. Each train will produce...
The Indian Oil Corporation (IOC) is expanding its Dahej liquefied natural gas (LNG) terminal in the state of Gujarat from 5 million tonnes to 10 million tonnes per annum, a media release from the IOC said. The IOC would also set up another LNG receiving terminal at the southern Indian city of Kochi with an...