Australian company Origin Energy has announced the completion of its assessment of environmental effects (AEE) as part of seeking resource consents for the Kupe Gas Project in New Zealand, a media release from the company said.   Origin Energy is operating at Kupe on behalf of the joint venture consisting of Origin Energy Resources (Kupe)...

The Pakistan government is preparing a 15-year National Energy Security Plan starting this year that will focus on the role of liquefied natural gas (LNG) in meeting the country’s energy needs.   According to a report in Pakistani English newspaper, Dawn, the government will look into investing between US$600 million and US$800 million to set...

Retail investors have been allotted 20% – getting a maximum of 1,000 shares each Ð in the initial public offering of shares in Lanka IOC, the Sri Lankan unit of Indian Oil Corporation, while financial institutions and large foreign investors have been allocated the remaining two million shares.   Lanka IOC has announced its basis...

Global ship power provider W’rtsil’ will supply four dual-fuel engines for a liquefied natural gas (LNG) carrier under construction at the Alstom Chantiers de l’Atlantique yard in France, the company has announced.   The vessel is being built for a joint venture owned by Japanese Nippon Yusen Kaisha (NYK) and Gas de France for completion...

Shell, which has invested over RM70 billion in Malaysia in the last four decades, plans to pump in another RM12 billion (US$1=RM3.8) from now till 2008, said Shell Malaysia chairman Jon Chadwick.   He praised Malaysia’s favourable business climate and cited investors’ confidence in Petronas and other local business partners, reported Malaysian news agency Bernama....

Openspec naphtha tonne C+F Japan – US$429.90 (+US$9.77 from Dec 17 closing) 95 ron unleaded gasoline barrel FOB Singapore – 45.88 (+0.46) Jet kerosene barrel FOB Singapore – 51.45 (+1.80) Gasoil barrel FOB Singapore – 52.24 (+1.31) LSWR barrel FOB Indonesia – 23.45 (-0.05) HSFO 180cst tonne FOB Singapore – 189.98 (+2.02) HSFO 380cst tonne FOB Singapore – 169.76 (+2.69)...

UMW Holdings Bhd expects its oil and gas division to contribute 10% to 15% to group earnings in three to four years as it expands into China and other countries in the region, managing director Abdul Halim Harun said.   “Oil and gas is still a small contributor to our profits right now, but that...

TL Offshore Sdn Bhd, a subsidiary of SapuraCrest Petroleum, has been awarded a RM144 million (US$38 million) procurement and installation services contract by Brunei Shell Petroleum, making it the largest overseas contract secured by the company so far, Malaysia’s Bernama news agency reported.   TL Offshore Sdn Bhd specialises in the transportation and installation of...

South Korea will gain access to 10 million metric tonnes of liquefied natural gas (LNG) from two additional sites near the country’s first commercial LNG field in the East Sea, the Korea Herald quoted government sources as saying.   From one site, located about 5km south of the field, officials from the Ministry of Commerce,...

US independent oil and gas company ConocoPhillips has approved a budget of US$6.9 billion for 2005. This total excludes approximately $300 million in capitalised interest and $200 million in minority interest.   About 75% of the budget has been set aside for upstream and midstream activities, while refining and marketing will receive about 22%. The remaining funds...

Pakistan and China have signed seven agreements in trade, communications and energy sectors and drew up a framework for greater economic cooperation.   The two sides have signed a memorandum of understanding on cooperation in oil and gas exploration after one-to-one talks held in the Chinese capital between Pakistan Prime Minister Shaukat Aziz and Chinese...

Swift Energy New Zealand Limited (Senz) Ð a wholly-owned subsidiary of Swift Energy Company based in Houston, Texas Ð has entered into a farm-in agreement with Ballance Agri-Nutrients Limited for a 60% stake in a petroleum exploration permit in New Zealand.   The 16,794-acre Petroleum Exploration Permit 38742 was previously held by the New Zealand-based...

China’s CNOOC Limited said its subsidiary, CNOOC SES Ltd, together with other contractors of the offshore Southeast Sumatra production sharing contract (PSC), have signed a gas sales agreement with PT Perusahaan Listrik Negara (PLN), the national electric power company of Indonesia.   The agreement was signed on December 12.   Under the terms of the...

Openspec naphtha tonne C+F Japan – US$ 420.13 (-US$3.12 from Dec 16 closing) 95 ron unleaded gasoline barrel FOB Singapore  – 45.42 (-0.67) Jet kerosene barrel FOB Singapore – 51.45 (+0.18) Gasoil barrel FOB Singapore –  52.24 (+0.42) LSWR barrel FOB Indonesia – 23.45 (+0.10) HSFO 180cst tonne FOB Singapore – 189.98 (-0.59) HSFO 380cst tonne FOB Singapore -169.76 (+1.82)  ...

The construction of Asia’s largest coal-fired power plant, Tanjung Bin, is about 55% and progressing “slightly ahead of schedule”, according to Bernama news agency.   Citing a senior executive of Zelan Construction Sdn Bhd, which is constructing the plant, Bernama reported that the Engineering, Procurement and Construction (EPC) contractors Sumitomo-Zelan Consortium expects to commission the...

The Philippine Department of Energy (DOE) and the United Nations Development Programme (UNDP) signed a memorandum of understanding (MOU) recently with 13 other government agencies and institutions for the creation of a national renewable energy database, the Philippine Star newspaper reported.   Under the MOU, a Renewable Energy Database Keepers’ Committee (REDBKC) has been organised...

The introduction of reliability systems into petrochemical plants is transforming traditional operating and maintenance practices. Benefits gained by systems provided by SKF have included large financial savings as well as the prevention of a catastrophic pump failure, detection of a coolant leak and a doubling of meantime between failure for critical process fans.   In petrochemical...

Shangqiu city in the central province of Henan recently completed the construction of a 48,000-cubic metre depot for storing oil products. The depot’s main shareholder is the Shangqiu Petroleum Corporation, which will use the facility for distributing oil products from the Sinopec Group.   The project’s first phase, costing 75 million yuan, comprises 12 tanks,...

“Extremely high” Chinese gasoil imports in November helped push Singapore gasoil/Dubai margins to new record highs, said US-based consultant ESAI in the latest edition of its Pacific Basin Stockwatch.   But there will be no price crash, said ESAI.   “Last fall, Chinese refiners were surprised by the economy’s rapid recovery from the SARS virus...

Australian upstream company Origin Energy Limited said it is continuing testing exploration well Trefoil-1 in the Bass Basin permit T/18P after it reported natural gas flow. The first of two cased hole drill stem tests has been completed since December 9.   The first test flowed gas at a final rate of 16.3 million cubic...

The Asian Development Bank (ADB) has approved a US$120-million loan to help ensure a steady and reliable power supply in northern Vietnam. This will help in meeting the area’s growing demand, especially from industrial and commercial consumers, an ADB media release said.   The project will expand and upgrade the 500 kilovolt (kV) and 220...

Thai state oil refiner and marketer Bangchak Petroleum Plc will begin offering gasohol 91, a fuel mix of 90% gasoline and 10% crop-derived ethanol, at nine of its service stations. This is the first time ethanol-mixed gasoline will become commercially available to motorists in Thailand, which is aiming to reduce dependence on fossil fuels.  ...

Steve Pryor has been named to succeed Steve Simon as President of ExxonMobil Refining & Supply Company from December 1. Mr Pryor, 54, is currently deputy to the president and will also be elected a vice president of the corporation. Mr Simon, 61, will be elected a senior vice president. The World Liquefied Petroleum Gas...

In an air separation process at a major manufacturer of industrial gases, the company was reducing the pressure in a cooling water stream with a pressure let-down valve. This provided an opportunity to install a process pump from ITT Industries’ Goulds Pumps unit, run it backwards as a turbine, and recover some of the available...

Itochu Corp, Japan’ third-biggest trading company, has renewed its interest in partnering the Papua New Guinea government in a proposal that would help finance the government’s stake in a US$3 billion gas pipeline.   Itochu confirmed its interest last week and is likely to participate in a bidding process that the government will hold to...