(EnergyAsia, March 9) — SK Corporation said its part-owned Peru LNG project has signed agreements to purchase 620 million cubic feet per day (MMCFD) of gas from the consortium of companies that constitute the upstream licence holders in the Greater Camisea area of Peru. The other shareholder in Peru LNG is operator Hunt Oil Company....

(EnergyAsia, March 9) — Singapore’s SembCorp Industries Ltd said subsidiary SembCorp Utilities Pte Ltd has divested SembCorp Energy (Kwinana) Pte Ltd (SCEK), a special purpose company holding a 30% stake in Perth Power Partnership (PPP), to Transfield Services Kwinana Pty Ltd of Australia. The sale price of around S$32 million was arrived at by taking...

(EnergyAsia, March 9) — The latest results of the Aberdeen and Grampian Chamber quarterly oil and gas survey, sponsored by Deloitte and conducted by the Fraser of Allander Institute, paint a very positive picture of a revitalised sector but reveal that the long-term sustainability of the UK sector is under threat from an increasing skills...

(EnergyAsia, March 9) — Australia’s largest resources company BHP Billiton has announced a cash offer of A$7.85 per share for the entire issued capital of WMC Resources Limited, valuing WMC Resources equity at A$9.2 billion (US$7.3 billion). BHP said the WMC Resources board has unanimously recommended its shareholders to accept the offer in the absence...

(EnergyAsia, March 9) — An Indian Parliamentary panel has criticised the petroleum ministry’s for failing to provide ethanol-blended gasoline across the country by the end of current fiscal year and for delaying the launch of a bio-diesel fuel plan.   In its report, the committee attached to the ministry told Parliament that the delay “indicates...

(EnergyAsia, March 9) — According to Interfax news agency, at the 14th session of the Standing Committee of the 10th National People’s Congress held on February 28, the Renewable Energy Law of China was approved and will take effect on January 1, 2006.   The law, aimed at encouraging the development of China’s renewable energy...

(EnergyAsia, March 9) — Financially stricken China Aviation Oil (Singapore) Corporation Ltd (CAO) said it will contest a judicial management petition filed in the Singapore High Court by Korea’s SK Energy Asia Pte Ltd on March 4.             CAO said there are good legal grounds to dismiss or stay the petition as judicial management is...

(EnergyAsia, March 9) — State-owned gas company PT Perusahaan Gas Negara (PGN) has released the names of the project management consultants for its Sumatra-Java gas pipeline project. The company has begun building the pipeline from Grissik in South Sumatra and Karawang in West Java, said PGN President W.M.P. Simanjuntak. UK’s Penspen Limited and Indonesia’s PT...

(EnergyAsia, March 9) — Qatar’s RasGas (II) and Distrigas-Europe last week signed a long-term LNG supply agreement.  Distrigas will import approximately 2.75 billion cubic metres of natural gas per year, equivalent to approximately 2.05 million tonnes/year of LNG, from Qatar on an ex-ship basis to be delivered to Belgium’s Zeebrugge LNG terminal for 20 years...

(EnergyAsia, March 9) — Qatar Petroleum, Total and ExxonMobil Qatargas II, Ltd, announced last week the signature of a Heads of Agreement (HOA) for the acquisition by Total of a 16.7% equity participating interest in Train II Qatargas II and the purchase by Total of liquefied natural gas ( LNG) from the Qatargas II Company....

(EnergyAsia, March 8) — “Malaysia raised the price of diesel by 6% (March 1) to 88.1 sen per liter (US$1=RM3.80 or 380 sen). The price of gasoline will remain unchanged for now, a report cited Minister in the Prime Minister’s Department Mustapa Mohamed as saying. “The government paid RM4.8 billion in fuel subsidies last year,...

(EnergyAsia, March 8) — Singapore’s upstream services company KS Tech Ltd said it has been appointed by Gulf Drilling International Limited (GDI) take charge of the procurement and project management of the conversion of a late 1970s jack-up production unit to a mobile offshore drilling unit.   KS Tech said it will be paid a...

(EnergyAsia, March 8) — Emirates Petroleum Products Company (EPPCO) LLC, a subsidiary of Emirates National Oil Company (ENOC) LLC, has taken the Trade Sector Dubai Quality Award for the second time.             The awards are presented to enterprises for excellence in different sectors of the economy by the government of Dubai, Department of Economic Development,...

(EnergyAsia, March 8) — Indian companies will save up to Rs 92 billion as a result of the proposed cuts in import duty proposed in the budget for the next financial year. (US$1=Rs43).             Oil companies alone could save Rs 52 billion from the cut in the import duty on crude from 10% to 5%....

(EnergyAsia, March 8) — The Thai government has announced a four-year programme to develop a nation-wide ethanol development programme.   Deputy prime minister Phinij Jarusombat, industry minister Pongsak Ruktapongpisal and energy minister Prommin Lertsuridej jointly made the announcement last week to boost confidence in the fledgling ethanol and biofuels industry.   The Sugar Planters’ Association...

(EnergyAsia, March 8) — Keppel Philippines Marine Inc, an affiliate of Singapore’s Keppel Shipyard Ltd., said it earned P138.4 million in net income last year compared with 2003’s P64 million. (US$1=P55). The company attributed the rise to higher sales from the international ship repair market. The Philippine Star reported the company’s ship repair and shipbuilding...

(EnergyAsia, March 8) — An international consortium led by Vietnam’s Petrolimex has announced plans to build a US$100 million storage facility in the country’s southern Van Phong Bay for storing and re-distributing oil products.   Petrolimex, a subsidiary of PetroVietnam, will own 55% of the venture, while Petrolimex Insurance Joint Stock Co will have a...

(EnergyAsia, March 8) — United Power Generation Co (UPG), a Thai biomass power producer, plans to invest US$585 million in an integrated reforestation and renewable energy project in Nakhon Ratchasima province in northeastern Thailand. According to the Bangkok Post, the Energy Ministry has approved the company’s proposal for the 300-megawatt plant that will be fired...

(EnergyAsia, March 8) — Australia’s Origin Energy last week announced that it has started construction of a natural gas pipeline to join the southeastern region of South Australia state (SESA) to the South East Australia (SEA) gas pipeline. The contract for the construction of the 45-km SESA pipeline with a 200 mm diameter has been...

(EnergyAsia, March 8) — The Japanese government is looking into changing the law to make it compulsory for around 26,000 companies to report the level of their greenhouse gas emissions. The law on global warming does not state specific limits for greenhouse gas emissions. Around 18,000 big businesses and another 8,000 companies in the transport...

(EnergyAsia, March 7) — Adnan Shihab-Eldin, OPEC’s Acting Secretary General and Research Director, presented this speech at the 8th Annual Asia Power Conference, Singapore last week. “Asia is a key player in world markets for commodities, manufacturing and services. OPEC recognises this and has sought to ensure that Asia’s rapidly growing oil needs will be...

(EnergyAsia, March 7) — Indian gasoline and diesel prices have not been raised despite a new levy of Rs0.50 being imposed by the Finance Ministry on the two fuels for road development from March 1. (US$1=Rs43). Similarly, the slashing of excise and customs duty on LPG and kerosene to nil have not translated into any...

(EnergyAsia, March 7) — Dutch storage specialist Royal Vopak said its operating profit on core activities excluding exceptional items increased from EUR 148.3 million in 2003 to EUR 152.9 million in 2004. Its net turnover fell to EUR 642.1 million from 2003’s EUR 749.6 million that included EUR 117.4 million on operating activities that have...

(EnergyAsia, March 7) — Global LNG Ð the Complete Supply Chain, May 16-19 2005. Organised by the Oxford Princeton Programme in Singapore Contact: 441865- 250521 Fax: 441865- 254599 Email: lrigg@oxfordprinceton.com Website: www.oxfordprinceton.com.   This highly interactive, in-depth “Global LNG Ð the Complete Supply Chain” course provides a sound understanding of key concepts and current practices...

(EnergyAsia, March 7) — MayBank Securities has recommended a ‘buy’ rating on Malaysian-listed SapuraCrest Petroleum. In a research report dated March 1, it said the stock has a ‘fair value’ of RM1.45, compared with its late February price of RM1.07. (US$1=RM3.8). MayBan’s commentary:             SapuraCrest has finalised the award of a contract for the construction...