(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) — 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) — The Malaysian government said it raised the price of diesel by five sen per litre to 88.1 sen to reduce the financial burden of continuing to subsidise the fuel as world oil prices continued to rise. (US$1=380 sen or RM3.8). Domestic Trade and Consumer Affairs Minister Shafie Apdal said the increase...
(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 4) — US major Chevron Texaco Corporation recently awarded a US$1.1 billion dollar contract to Korea’s Daewoo shipbuilding and Marine Engineering (DSME) for the construction of a floating production storage and off-loading (FPSO) vessel for use in Nigeria’s Agbami crude oil field. The contract was signed in Abuja in Nigeria. According to...
(EnergyAsia, March 4) — The Yemen LNG Company (YLNG) recently signed three Heads of Agreement (HOA) for the sale of liquefied natural gas (LNG). Tractebel EGI (Suez) will buy 2.5 million tons per year and Total Gas and Power Ltd up to 2 million tons per year for delivery to the US while Korea’s Kogas...
(EnergyAsia, March 4) — A Petronas Carigali-ConocoPhillips joint venture has signed a Production Sharing Contract with Petronas, the Malaysian national oil company, for the appraisal and development of the Kebabangan oil field, in waters off the northwest coast of Sabah, Malaysia. Petronas Carigali is the upstream subsidiary of the national oil company. In a...
(EnergyAsia, March 4) — A 40/60 joint venture between PPES Works (S) Sdn Bhd and Chiyoda Malaysia Sdn Bhd has won a RM120 million contract to build phases 3 and 4 of an independent oil terminal (IOT) in Senari in the East Malaysian port of Kuching. (US$1=RM3.8). PPES Works, a subsidary of Cahya Mata...
(EnergyAsia, March 4) — Pakistan’s upstream oil and gas company Oil and Gas Development Company Limited has reported an increase of 62.15% in after tax-profits to Rs 15.77 billion for the first half of the year ending December 30, 2004. (US$1=Rs59). The OGDCL board has approved a second interim dividend of 15% (Rs. 1.50...
(EnergyAsia, March 4) — Russia will begin building a US$15 billion pipeline from Siberian oil fields to the Sea of Japan in summer, the Primorye region’s deputy governor said, according to an AFX Asia report. “The pipeline’s construction is due to begin this summer, on both ends at once — in Taishet and the Perevoznaya...
(EnergyAsia, March 4) — Caltex Australia plans to invest A$500 million upgrading its refineries over the next three years to boost transport fuels production by 20%, the Herald Sun reported. Managing director Dave Reeves said the move would add more than A$150 million to earnings before interest and tax to almost A$850 million. (US$1=A$1.26). ...
(EnergyAsia, March 4) — Environmental lobby group Greenpeace has hailed China’s passing of a landmark renewable energy promotion law last week. Greenpeace said: “The Chinese top legislature voted to pass China’s first renewable energy promotion law, which will help the country meet ambitious targets for the uptake of renewable energy.” Greenpeace said it welcomed...
(EnergyAsia, March 4) — The state governments of Punjab and Madhya Pradesh have approved the construction of new oil refineries while Rajasthan is planning one. Hindustan Petroleum (HPCL) will build a nine-million-tonne a year refinery in Punjab while the size of BPCL’s plant in Madhya Pradesh is still being worked out. The two state governments...
(EnergyAsia, March 4) — Indonesian student and worker groups have been holding largely peaceful protests across the country following the government’s decision to raise fuel prices by an average 29% on March 1. Police are on full alert to prevent the demonstrations turning violent as had been the case in the past when Jakarta attempted...
(EnergyAsia, March 3) — Chinese upstream company CNOOC Limited said it and ConocoPhillips China Inc (COPC), a ConocoPhillips (NYSE: COP) subsidiary, have signed a contract with Shanghai Waigaoqiao Shipbuilding (SWS) to build a 280,000-tonne floating, production, storage and offloading (FPSO) vessel hull for the PengLai (PL) oil fields. SWS is a subsidiary of China State...
(EnergyAsia, March 3) — China might see a surge in diesel imports in the second quarter after a lull in the past two months to meet seasonal demand for farming and to fill a supply gap due to refinery shutdowns, traders and analysts told China Daily. China had lessened its diesel imports for the...
(EnergyAsia, March 3) — Exxon Mobil Corporation said it has completed the sale of its 3.7% stake in China Petroleum and Chemical Corporation (Sinopec). “The selling process commenced after close of the Hong Kong market and placed the shares on the public markets at a price of HK$3.38 per share, raising approximately HK$10.7 billion...
(EnergyAsia, March 3) — China’s crude oil imports fell by an unexpectedly sharp 24% year-on-year to 7.8 million tons in January, the first fall in more than two years, according to analysts and sources from the General Administration of Customs. Analysts told the China Daily that hefty 2004 year-end stockpiles and the high price...
(EnergyAsia, March 3) — Korea’s energy and retail conglomerate GS Group is targeting to expand into China’s oil refining and distribution services markets, said chairman Hur Chang-su. Korea’s seventh largest conglomerate expects its 14 affiliates, which includes the country’s second largest oil refiner LG-Caltex Oil Corp., to increase their combined sales to 24 trillion won...
(EnergyAsia, March 3) — The consumption of oil products by South Korean household fell sharply by 11.4% last year to 606.2 million barrels on account of sharply higher prices and the economic downturn. According to state Korea National Oil Corp, this was the third straight year of household oil consumption. In 2002, it was...
(EnergyAsia, March 3) — Keloil-PTT LPG Sdn Bhd (KPL), a 60/40 joint venture between local oil firm Keloil Sdn Bhd and the Petroleum Authority of Thailand (PTT), is investing RM15million to build its second liquefied petroleum gas (LPG) filling plant in Malaysia. (US$1=RM3.8). According to the Star newspaper, the plant will be located on a...
(EnergyAsia, March 3) — Qatar Petroleum (QP) and The Royal Dutch/Shell Group of Companies (Shell) this week signed a Heads of Agreement (HOA) for the development of a large-scale Liquefied Natural Gas (LNG) project located in Ras Laffan City, Qatar. The project is called Qatargas 4. The agreement was signed in Doha on behalf...
(EnergyAsia, March 3) — Qatar Petroleum (QP) and Shell Chemicals Limited (Shell) this week signed a Letter of Intent (LOI) for the development of a world-scale ethane based cracker and derivatives complex in Ras Laffan Industrial City, Qatar. The agreement was signed on behalf of Qatar Petroleum by Abdullah Bin Hamad Al-Attiyah, Second Deputy...
(EnergyAsia, March 3) — Thailand’s upstream company PTTEP said it has signed agreements to sell natural gas from an Oman offshore field to the Omani government. Subsidiary PTTEP Middle East Company Limited (PTTEP ME) is the operator of the so-called Oman 44 project with 100% stake holding. PTTEP ME, the seller, signed the...