(EnergyAsia, April 20) — In a major development within the UAE’s downstream petroleum sector, Emirates National Oil Company (ENOC) LLC and its subsidiary ENOC International Sales Limited (EISL), have purchased Caltex Trading and Transport Corporation (Caltex)’s 40% shareholding in Emirates Petroleum Products Company LLC (EPPCO). The buy-out makes EPPCO, which operates a 129-strong service...
(EnergyAsia, April 20) — Greenpeace has issued a report “Offshore Wind – Implementing a new Power House for Europe” as a strategic blueprint that outlines how offshore wind farms will be able to supply about 10% of Europe’s electricity sector by 2020. The report represents a crucial tool in the race to cut greenhouse emissions....
(EnergyAsia, April 20) — India is laying the groundwork to build new oil refineries and expand existing ones with the aim of raising oil product exports, said petroleum minister Mani Shankar Aiyar. “The idea is to offset India’s huge burden of imports of crude oil by exporting oil products. Such a strategy will also substantially...
(EnergyAsia, April 20) — French engineering group Technip has signed a letter of intent with Qatar Petroleum, ChevronPhillips Chemical Company LLC, Qatar Petrochemical Company and Total Petrochemicals to execute an engineering, procurement and construction (EPC) contract worth more than US$800 million for an ethylene cracker at Ras Laffan in Qatar. The 1.3 million tonnes/annum plant...
(EnergyAsia, April 20) — Australian upstream company Woodside said its first quarter production volumes fell by 1.9% from the previous quarter and 2% from year-ago levels. Production increases during the quarter for North West Shelf domestic gas, condensate, liquefied petroleum gas (LPG) and oil were offset by lower volumes from Laminaria and Legendre due to...
(EnergyAsia, April 20) — Huaneng Power International, Inc said it generated 36.09 billion kWh of power for the first quarter of 2005, up 47% over the same period last year. The increase was provided by the expanded generation at its power plants in Yushe, Huaiyin, Jining, Yingkou and Sichuan Hydro amid continued strong demand for...
(EnergyAsia, April 19) — Singapore’s PowerSeraya Ltd said it has received its first cargo of a new alternative fuel, Orimulsion, from Venezeula. PowerSeraya said it is the first power company in Singapore to provide multi-fuel options, offering a more cost effective and diversified supply of electricity to its customers. The company said the introduction...
(EnergyAsia, April 19) — PetroChina Company Limited said its key operational indicators recorded healthy growth in the first quarter of 2005, thanks largely to high oil prices and strong domestic demand. PetroChina said its oil and gas output rose 6.2% to 243 million barrels of oil equivalent from a year ago. Its crude oil output...
(EnergyAsia, April 19) — Huaneng Power International Inc said it has signed an agreement to allow Huaneng Group to manage Sichuan Huaneng Hydro Power Development Limited Liability Company for a fee of RMB2.42 million. Huaneng Power International will pay 60% of the fee reflecting its equity stake in Sichuan Hydro Power. Huaneng had bought...
(EnergyAsia, April 19) — Foster Wheeler Energy Limited, in a joint venture with China Huanqiu Contracting & Engineering Corp., has been awarded a feasibility study Stage I contract by Sasol Synfuels International (Proprietary) Limited (Sasol) and its Chinese partners comprising China Shenhua Coal Liquefaction Corporation Ltd. and Ningxia Luneng Energy and High Chemistry Investment Group...
(EnergyAsia, April 19) — Indian upstream company ONGC has signed a memorandum of understanding (MOU) with heavy vehicles manufacturer Ashok Leyland Ltd for developing facilities for importing and regassifying liquefied natural gas (LNG) in southern India. They will also develop facilities to extract petrochemicals from gas plants and lay pipelines to transport the gas to...
(EnergyAsia, April 19) — India’s import dependence on crude oil is expected to rise to about 85% by 2025 as against 70% now, reported the Press Trust of India. “India’s import dependence on crude oil is about 70% and as per current demand projections, on projected levels of domestic production, import dependence is expected to...
(EnergyAsia, April 19) — Russia’s Deputy Minister of Natural Resources Anatoly Temkin has predicted that the country’s commercial oil reserves will be depleted by 2017. According to Itar-Tass news service, the government last month discussed a new draft law on subsoil resources, prepared by the Ministry of Natural Resources, to eliminate a legislative loophole that...
(EnergyAsia, April 19) — A joint venture team of JGC of Japan, KBR, the engineering and construction subsidiary of Halliburton and Snamprogetti, the engineering and main contracting company of Italy’s Eni, has been awarded the engineering, procurement and construction (EPC) contract for a gas-to-liquids (GTL) facility in Escravos, Nigeria. The US$1.7 billion contract was awarded...
(EnergyAsia, April 19) — D1 Mohan Bio Oils Ltd, a joint venture between Chennai-based Mohan Breweries and Distilleries and UK-based D1 Oils, has unveiled plans to invest a total of Rs1 billion in invest about Rs 100 crore in a new jatropha processing plant in 2007. (US$1=Rs43). “Our pilot unit for processing jatropha will...
(EnergyAsia, April 19) — Bangkok Bank will lend 3.2 billion baht to enable Khon Kaen’s KSL Group to expand move into alternative energy and ethanol production from its traditional sugar mill business. (US$1=38 baht). A deal was signed last month at a ceremony attended by Chartsiri Sophonpanich, the President of Bangkok Bank and Chamroon Chinthammit,...
(EnergyAsia, April 18) — Australia’s Victoria state government has awarded the VIC/P44 joint venture led by upstream company Santos Limited a production licence to develop the A$200 million offshore Casino gas projectst. (US$1=A$1.25). The VIC/L24 production licence, awarded by the Department of Primary Industries, Victoria clears a major regulatory hurdle and will help to...
(ENERGYASIA, April 18) — The Asian Development Bank (ADB) has trimmed its economic growth forecast this year for Sri Lanka because of the impact of the tsunami disaster triggered by an earthquake last December. The Asian Development Outlook 2005 (ADO), the annual flagship ADB publication that forecasts economic trends in the region, said the...
(EnergyAsia, April 18) — Four local commercial banks have agreed to provide state-owned Electricity of Vietnam (EVN) a preferential loan worth nearly VND1.39 trillion (US$89 million) to finance the construction of the Pleikrong hydro-power project. According to the Vietnam News Service (VNS), the loan’s co-ordinator, the Bank for Foreign Trade of Vietnam (Vietcombank), will contribute...
(EnergyAsia, April 18) — Dubai’s Horizon Terminals Limited (HTL) will soon break ground on its US$200 million bulk liquids terminal on Singapore’s Jurong Island, according to the Khaleej Times. HTL is the terminals subsidiary of the Emirates National Oil Company’s (Enoc). Hussain Sultan, ENOC’s CEO and board member, told the newspaper that the contract...
(EnergyAsia, April 18) — Australia’s Amadeus Energy Limited (AMU) said it is making progress in listing its 66.7%-owned Australian Renewable Fuels (ARF) on the local stock exchange. ARF lodged a prospectus on March 21 to raise A$20 million to fund its activities in the biodiesel industry and replace an existing financing facility provided by Amadeus....
(EnergyAsia, April 18) — Indian Oil Corporation and Saudi Aramco are considering jointly building and operating a commercial storage oil terminal in India in favour of a strategic crude storage facility. The Press Trust of India reported that the two companies believe there will be demand for an independent oil storage service with oil...
(EnergyAsia, April 18) — The Indonesian government has approved the proposed development of the Oyong oil and gas field by a consortium led by Australian upstream company Santos Limited. The project is Santos’ first operated offshore oil and gas development in Indonesia. The Oyong field is located in the Sampang Production Sharing Contract area in...
(EnergyAsia, April 18) — Thai upstream company PTT Exploration and Production Public Company Limited (PTTEP) has named its new board of directors following its annual meeting earlier this month. The 15 members of the new board are chairman Manu Leopairote, independent director and member of the corporate governance committee General Lertrat Ratanavanich, chairman of the...
(EnergyAsia, April 18) — Emerson Process Management, a business of US engineering group Emerson, said it has won a US$7 million contract to automate China’s coal-fired Huaneng Yuhuan power plant as the country expands its generation capacity to meet the growing demand for power. The company said the Ovation(R) Control System will be installed as...