Openspec naphtha tonne C+F Japan – US$397.75 (+US$12.75 from Dec 13 closing) 95 ron unlead gasoline FOB Singapore Ð 43.37 (+1.17) Jet kerosene barrel FOB Singapore Ð 49.35 (+0.85) Gasoil barrel FOB Singapore Ð 49.20 (+1.40) LSWR barrel FOB Indonesia Ð 22.75 (+0.55) HSFO 180cst tonne FOB Singapore Ð 176.75 (+1.00) HSFO 380cst tonne FOB Singapore Ð 157.25 (+0.75) ...
China Aviation Oil Group Corp (CAOGC), which monopolises the country’s jet fuel supply, is setting up a jet fuel joint venture with China National Petroleum Corp (CNPC) and China Petroleum & Chemical Corp (Sinopec). CAOGC said the new company will help improve its competitiveness ahead of the opening of China’s oil products market to international...
The United Arab Emirates has named Mohammed bin Dhaen al-Hamili, 51, as its new oil minister, replacing Obaid bin Saif al-Nasseri in a cabinet reshuffle last month. Mr Al-Hamili, a committee member of the supreme petroleum council, will head a unified energy ministry incorporating the oil, electricity and water ministries. Until his promotion, Mr al-Hamili...
Revived talks about a Chinese takeover of Toronto-listed Husky Energy (crude oil and NGL reserves: 544.3 million barrels, gas: 2,058.9 billion cubic feet) drove its stock price to a six-year high of more than C$35 in late November. The Calgary, Alberta-based company is majority-owned by Hong Kong tycoon Li Ka-shing and his conglomerate, Hong Kong-based...
Trials are about to begin on the development of the first “greenhouse-friendly” liquefied petroleum gas engine (LPG) for heavy vehicles in Australia. Minister for the Environment and Heritage Ian Campbell has announced that the Australian government would contribute A$600,000 to help BP develop and put to trial the engine. (US$1=A$1.3). “Successful trials of this engine...
The Royal Dutch Shell group has announced that it is progressing to the next phase of its proposed world-scale ethylene cracker and derivatives project in Singapore. This phase will result in a detailed design and engineering package for construction to begin in 2006 and start-up in the first half of 2009. The project, estimated...
Indonesian state-owned electricity company PLN has invited tenders for the construction of a 20-megawatt (MW) geothermal power plant in North Sulawesi, the Jakarta Post newspaper reported. Ali Herman Ibrahim, PLN director for primary energy and power generation, said the engineering, procurement and construction (EPC) tender for the Lahendong power plant closes on Jan 25....
The following jobs are available in the oil, gas, marine and power sectors. For reference to these jobs, please cite www.EnergyAsia.com or EnergyAsia Report. EMERSON PROCESS MANAGEMENT: Senior Project Engineer, Project Manager, Singapore Degree or Diploma in Engineering, minimum 8 years experience in oil and gas and/or petrochemical industry. At least 5 years...
Tyumenneftegaz, a subsidiary of Russian-British oil major TNK-BP, has started building a 76.5-km oil pipeline connecting the Kalchinskoye field in the Uvat district of the Tyumen region to the trunkline, ITAR-TASS reported. The 1-billion rouble pipeline, with a carrying capacity of up to 12 million tonnes, is expected to start up next July. (US$1=28 roubles)....
The last time people in New Delhi saw the sun rise in winter was a decade ago. Since then, exploding numbers of poorly engineered diesel vehicles made watching the sunrise impossible, so thick was the smog every winter morning. The days were hazy and the air was black; breathing was impossible. Every fifth person had...
Dutch oil and chemicals storage company Vopak has announced a proposal for a buy back of its preference shares, reducing the amount of outstanding shares from EUR 115.3 million to EUR 65 million on December 30. (US$1=EUR 0.75). The company said it will also attempt to effect a distribution chargeable to the share premium account for the...
Australia is on track to meet its Kyoto target for reducing greenhouse gas emissions, according to a new report released by Minister for the Environment and Heritage Ian Campbell. Australia is committed to meeting its internationally agreed target constraining emissions in 2008-12 to 108% of their 1990 level. The latest analysis shows projected emissions...
In an attempt to control air pollution in its capital city Ahmedebed, India’s Gujarat state is planning to promote compressed natural gas (CNG) use by building filling stations and gas infrastructure. Speaking recently to a high-level committee of civil servants and business people, Chief Minister Narendra Modi unveiled a roadmap for managing and promoting...
Indian upstream company ONGC, which is exposed to the deepwater exploration business, said it may benefit from the growing ties between the Indian and Norwegian governments. ONGC praised Norwegian companies as being among the most impressive operators in the offshore oil and gas business. The ability of companies such as Statoil and Norsk...
State-owned gas company Perusahaan Gas Negara (PGN) said it has started work on a 1,140-km pipeline to distribute gas from South Sumatra to West Java. PGN president W.M.P. Simanjuntak told the Antara news agency the US$1 billion project will be completed in two parts by 2006, starting with the construction of the 490-km distribution and...
Openspec Naphtha tonne C+F Japan – US$385.00 (-US$26.90 from Dec 10 closing) 95 ron unl FOB Singapore Ð 42.20 (-2.83) Jet kerosene barrel FOB Singapore Ð 48.50 (-1.20) Gasoil barrel FOB Singapore Ð 47.80 (-1.20) LSWR barrel FOB Indonesia Ð 22.20 (-1.15) HSFO 180cst tonne FOB Singapore Ð 175.75 (-2.75) HSFO 380cst tonne FOB Singapore Ð 156.50 (+0.25) ...
SG Corporate & Investment Banking (SGCIB) has appointed Jeffrey Chen, formerly responsible for oil derivatives in China, as its new Singapore-based chief for commodity risk management in Asia. He succeeds Gerard Raynor, who has returned to Paris as head of sales for Europe and Asia. The company has recruited Chow Tee Lee, formerly of...
Russia and Japan are to sign an agreement in January on building a $ 12 billion crude oil pipeline from East Siberia to Russia’s port of Nakhodka, on the Sea of Japan, according to Cyprus-based APS Review Oil Market Trends. The agreement on the 4,200-km pipeline and its financing by Japan will be signed during...
French engineering company Technip said it has been awarded a contract to build an additional cracking furnace in an ethylene plant located in Al-Jubail, Saudi Arabia. The plant is owned by Al-Jubail Petrochemical Co. (KEMYA), an equal joint venture between SABIC & ExxonMobil Chemical. The new furnace will allow KEMYA to increase its ethylene and...
The following jobs are available in the oil, gas, marine and power sectors. For reference to these jobs, please cite www.EnergyAsia.com or EnergyAsia Report. SUNDUS MANAGEMENT (UAE): Petroleum Engineer, Marine Services, Petrophysicist Petroleum Engineer, Ref: EG/PE/2226. Degree in petroleum engineering, six year experience in preparing schedule programmes for testing wells, bottom hole...
The recent experience with higher and more volatile oil prices has added to uncertainty about the long-term path of crude oil prices. The “Annual Energy Outlook 2005” (AEO2005), released last week by the Energy Information Administration (EIA), includes two oil price cases to evaluate the impact of alternative world crude oil price trends. When released, the...
Crude oil prices fell closer to US$40 barrel last Friday despite OPEC’s announcement that it had agreed to reduce its daily oil output by 1 million barrels a day, with the possibility of more to come early next year if prices continued to decline. Crude oil futures reached a record US$55.17 in late October but...
Gasoline prices at the pumps fell three Singapore cents last Friday in line with weaker world oil prices. But diesel pump prices remained unchanged at S$0.952 a litre. (US$1=S$1.65). The country’s four fuel retail operators, Shell, Caltex, ExxonMobil and Singapore Petroleum Company (SPC), all announced price cuts within hours of each other. The...
Singapore’s High Court has agreed to give financially stricken China Aviation Oil (Singapore) an extension of six weeks to forge a rescue plan following its collapse from a US$550 million loss in trading oil derivatives. Part of the plan involves Singapore state investment agency Temasek Holdings and CAO’s parent in Beijing injecting US$50 million each...
Openspec Naphtha tonne C+F Japan – US$411.90 (+US$5.05 from Dec 09 closing) 95 ron unl FOB Singapore Ð 45.03 (+0.70) Jet kerosene barrel FOB Singapore Ð 49.70 (+0.95) Gasoil barrel FOB Singapore Ð 49.00 (+1.20) LSWR barrel FOB Indonesia Ð 23.35 (-0.90) HSFO 180cst tonne FOB Singapore Ð 178.50 (+4.00) HSFO 380cst tonne FOB Singapore Ð 156.25 (+0.75) ...