California-based IMPCO Technologies Inc has named a board director, Mariano Costamagna, and founder of Italy’s BRC Srl, as its new CEO and President. He replaces Robert M. Stemmler, who remains as chairman and as a consultant to facilitate the change in leadership and support the integration of the two companies. Last October, IMPCO Technologies said...
Openspec naphtha tonne C+F Japan – US$ 396.67 (-US$6.33 from Jan 10 closing) 95 ron unleaded gasoline barrel FOB Singapore – 45.03 (-0.60) Jet kerosene barrel FOB Singapore – 50.65 (+1.36) Gasoil barrel FOB Singapore – 49.65 (+0.25) LSWR barrel FOB Indonesia – 26.15 (+0.30) HSFO 180cst tonne FOB Singapore – 181.80 (-0.24) HSFO 380cst tonne FOB Singapore – 173.25 (+3.77)...
The following is a list of the oil companies that donated to the relief efforts for victims of the tsunamis that struck Asia and Africa on December 26 More than 150,000 people died in the disaster that followed after a giant earthquake struck the waters off northern Sumatra island in Indonesia. 1) Caltex Australia...
China is shifting its national energy policy towards energy conservation and improving energy efficiency, a departure from its previous emphasis on energy exploitation. According to the China Daily, the move will help the country control emissions of carbon dioxide to meet possible Kyoto Protocol obligations years ahead of schedule. The Kyoto Protocol, aimed at...
Indian Oil Corp (IOC) has failed in its attempt to import sufficient volumes of diesel of Euro-III emission standard to meet a domestic shortfall ahead of the introduction of India’s clean fuel programme on April 1, Indian news agency PTI reported. According to PTI, IOC did not get any response in a tender to...
The Rajasthan state government has approved a 80-billion rupee refinery that will be India’s third largest to be set up by the Hindustan Petroleum Corp Ltd (HPCL), the Hindustan Times reported (US$1=43 rupees). The 9 million tonne/year refinery will be built by HPCL subsidiary, Guru Gobind Singh Refinery Ltd. When completed, it will...
China’s largest petrochemicals joint-venture, the Shanghai Secco Petrochemical Co Ltd, has been completed, the China Daily reported. With a combined investment of US$2.748 billion by joint-venture partners China Petroleum and Chemical Corporation (Sinopec), Shanghai Petrochemical Co Ltd (SPC) and BP East China Investment Co, the project is expected to boast an annual production capacity...
A consortium led by Japanese trading house Marubeni Corp has won a US$3 billion dollar contract to build an integrated power and water project in Abu Dhabi. According to UAE’s WAM news agency, Marubeni Corp said the consortium will build a one-million-kilowatt thermal power plant and a plant that can produce 300,000 tonnes of...
State oil company PetroVietnam produced more than 20 million tonnes of crude oil and 6.25 billion cubic metre of gas last year, surpassing its target by 15.5% and 9% respectively. Vietnamese news agency VNA reported that the company also exported 14% more crude than planned. The Vietnam-Russia oil and gas venture Vietsovpetro alone...
The deadly tsunamis that struck Asian and Africa on December 26 has destroyed a vital fuel storage depot in southern Sri Lanka and the precise impact on fuel supplies there remains unclear, according to the Lanka Business Online. The affected depot in Galle in southern Sri Lanka is owned by Ceylon Petroleum Corporation (CPC)....
Malaysian power companies are planning to continue their expansions overseas this year, Malaysia’s Business Times reported. The expansions will come as local markets are adequately supplied and against the backdrop of the restructuring of national utility company Tenaga Nasional Bhd, the paper said quoting analysts. The analysts said Malaysia has adequate power supply...
Malaysia’s oil and gas companies are expected to chalk up a profit growth of over 100% in the next two years, Malaysia’s Business Times reported. Citing a study by research house MIDF Sisma Securities, the newspaper said a “hive of activities” is expected over the next two years, creating new markets and opportunities for...
PTT Plc (PTT), Thailand’s largest energy firm, expects total sales revenue in 2005 to grow 10% from last year’s record Baht600 billion. PTT expects to invest about Baht 300 billion in its subsidiaries, thereby boosting growth over the next five years, according to the Business Day. PTT President Prasert Bunsumpun was quoted as...
Thailand’s levy on gasoline and gasohol sold to motorists has been raised by another Baht 0.30/litre to replenish the government’s state oil fund and help clear outstanding debts incurred from borrowing for fuel price subsidies more quickly (US$1=Baht39). However, oil companies said pump prices will not rise because Singapore and Dubai oil prices have...
Thailand’s PTT Exploration and Production Plc (PTTEP) will invest Baht133.8 billion to raise its production capacity over the next five years, Thailand’s Business Day reported (US$1=Baht39). The move comes as part of the company’s plan to increase its petroleum sales to an average of 143,000 barrels of oil equivalent per day (boe/d). The company...
Woodside Energy (USA) Inc., a wholly owned subsidiary of Australia’s Woodside Petroleum Ltd., said it has formed an alliance with Explore Enterprises of Louisiana LLC to jointly conduct exploration, acquisition, development and production activities in the Gulf of Mexico. Woodside and Explore Enterprises will jointly invest in the shelf and deep waters of the Gulf. ...
Openspec naphtha tonne C+F Japan – US$ 403.00 (+US$3.25 from Jan 07 closing) 95 ron unleaded gasoline barrel FOB Singapore – 45.63 (+1.13) Jet kerosene barrel FOB Singapore – 49.29 (+1.66) Gasoil barrel FOB Singapore – 49.40(+1.90) LSWR barrel FOB Indonesia – 25.85 (+1.62) HSFO 180cst tonne FOB Singapore – 182.04...
In a move that will complete the realignment of its shareholders, Hong Kong-based Meiya Power Company Limited (MPC) said that BTU Power Company (BTU) has become a 50% shareholder of MPC, having bought out the interests of PSEG Global LLC (PSEG). The restructuring has brought together a group of investors that support MPC’s growth...
Pakistani authorities say tribesmen have attacked a state-run natural gas facility in Baluchistan Province, setting fire to a portion of the national pipeline network in the southern part of the country. According to the Voice of America (VOA) citing local police, there were casualties during an extensive battle last week between tribesmen and Pakistani...
Iran’s Pars Oil and Gas Co. has completed two out of the total three offshore pipelines of the phases 6,7 and 8 of the South Pars Gas Field, according to Iranian news reports. Sea pipelines measuring 32 inches and 4 inches in diametre and 95 and 101-km long were laid from the seaside region...
The RM1 billion Malaysia-Thai gas pipeline project will boost economic growth in the respective border regions of the two countries when it is completed this month, according to The Star newspaper. (US$1=RM3.8). Quoting Kalantar Mastan , CEO of Trans-Thai-Malaysia (Thailand) Ltd (TTM), the newspaper said the project could provide the much-needed spark to bring...
The Gulf Cooperation Council (GCC) states will play a key role in gas supplies in the future, as they control 40% of the world’s proven natural gas reserves or about 72 trillion cubic metres of natural gas, according to a report by Qatar’s WAM news agency. Currently, GGC members produce less than 245 billion cubic...
The world’s leading car manufacturer, Toyota, is eyeing the design of a car adaptable to the Philippines’ coconut methyl ester (CME), the Manila Bulletin reported. The project is part of an effort to promote environmental sustainability in compliance with the Kyoto Protocol, the Bulletin said. Evangeline Valbuena, Philippine Coconut Authority (PCA) administrator, said it will...
Qinghai Oil Field, an affiliate of state China National Petroleum Corporation (CNPC), said its oil and gas output reached a record four million tons last year. This included 2.22 million tons of oil and 1.78 billion cubic meters of natural gas. According to the China Daily, Zong Yiping, Qinghai’s vice general manager, said it...
The United Arab Emirates said it will continue to invest in Asia’s oil and gas sector and raise its hydrocarbon output to meet the region’s demand. According to Kuwait’s KUNA news agency, Energy Minister Mohammed Al-Hamli told a gathering of Asian oil ministers in New Delhi that the UAE is ready to supply the...