(EnergyAsia, April 13) — “Negative community perceptions” towards the oil industry are compromising growth in Australia’s wealth and setting the stage for a blow-out in the current account balance, according to an industry lobby group. “The incorrect perceptions of the oil and gas industry Ð and related government policy – must quickly change if...
(EnergyAsia, April 13) — Australian upstream company Essential Petroleum Resources has announced that it has agreed to acquire a 20% interest in petroleum exploration licence PEL 27 in the Otway Basin from Beach Petroleum Limited. PEL 27 covers 240 sq km of the north western flank of the Penola Trough, a proven petroleum system....
(EnergyAsia, April 13) — ChevronTexaco Corporation said The Western Australian Energy Research Alliance (WAERA) and ChevronTexaco Australia Pty Ltd have agreed to undertake petroleum industry research, technology development, and education and training projects. The work from the strategic alliance is expected to benefit ChevronTexaco’s Australian and worldwide operations. The agreement was signed last week...
(EnergyAsia, April 13) — With sound macroeconomic fundamentals achieved and key sectors strengthened by reforms implemented in the past 4-5 years, Pakistan is expected to sustain strong economic growth of at least 7% over each of the three fiscal years FY2005-FY2007, according to a recent Asian Development Bank (ADB) report. The Asian Development Outlook...
(EnergyAsia, April 13) — The world markets for solar energy, wind energy, and fuel cells are poised to grow from $16 billion in revenues in 2004 to more than $100 billion by 2014, according to a report by Clean Edge, Inc, a US-based energy research and publishing firm. Clean Edge projects that markets for solar...
(EnergyAsia, April 13) Ð Till now a minor player in China, Kuwait is aiming to make inroads into the fast-growing oil and petrochemicals market of this Asian giant. State-owned Kuwait Petroleum Corporation (KPC) aims to strengthen ties with its Chinese customers with the recent opening of its office in Beijing, said Jamal Al-Nuri, head of...
(EnergyAsia, April12) — Several US oil and gas companies including ChevronTexaco, Anadarko Petroleum, Apache, Unocal Corp, Tesoro Corp and The Marathon Oil Corp have agreed to take far-reaching actions in recent months to disclose their potential financial exposure from climate change and develop strategies to improve their strategic positioning as international pressure grows to reduce...
SINGAPORE: Speech by Vivian Balakrishnan, Second Minister for Trade & Industry, at the investment agreement signing between UK’s Rolls-Royce plc and Enertek, the Singapore consortium comprising EDB Investments, Temasek Holdings and Accuron Technologies (EnergyAsia, April 12) — This event marks the start of a strategic relationship between Rolls-Royce Fuel Cell Systems and Singapore. It...
(EnergyAsia, April 12) Ð Azerbaijan’s economy is expected to accelerate, with major oil and gas projects fueling real gross domestic product (GDP) growth, at double-digit levels over the next few years, according to a major ADB report. Following the 10.2% growth registered in 2004, Azerbaijan’s real GDP growth is expected to soar to 14.5%...
(EnergyAsia, April12) — The Chinese government has called on coal mining companies to invest more in safety following several headline-grabbing deadly mine disasters. Coal mine explosions killed more than 6,000 workers last year — 80% of world fatalities in coal operations — as operators ignored safety precautions in rushing to produce coal to fuel the...
By Peter C. Fusaro, Global Change Associates Inc. Cyndy Wilson, Catalytics Dr. Gary Vasey, Utilipoint International Inc. (EnergyAsia, April 12) — Green Trading is a term that was coined several years ago to capture the value of the convergence of the capital markets and the environment. It encompasses all forms of environmental financial trading...
(EnergyAsia, April 12) — Pakistan said its domestic oil output rose by 3% while gas production was up by 22% for the first quarter of the year. The Dawn newspaper said oil production stood at 64,000 barrels per day while the daily gas out put came to 3.5 billion cubic feet per day over...
(EnergyAsia, April 12) — Financially stricken China Aviation Oil (Singapore) Corporation Ltd said its restructuring process remains on track despite last week’s order by Singapore’s High Court that the judicial management petition by SK Energy Asia Pte Ltd be adjourned to a date before May 20 2005. CAO has been hit by lawsuits after becoming...
(EnergyAsia, April 12) — Singapore’s Senoko Power Limited last week officially launched its National Weather Study Project, a community initiative that aims to increase awareness among primary and secondary school students in Singapore about the importance of weather and climate change on our daily activities and the environment we live in. John Lim Kok...
(EnergyAsia, April 12) — The Asian Development Bank (ADB) said it will help the government of Laos achieve its poverty reduction and development goals through a $20 million public sector loan, a private sector loan of up to $50 million, and a political risk guarantee of up to an aggregate maximum liability of $50 million...
(EnergyAsia, April 11) — UK security services specialists IDS International Asia Pte Ltd has opened an office in Singapore, with the energy sector as a key target for its expansion. The company provides security services for a wide range of environments including Industrial and Corporate (for instance, risk management, project management for risk and security,...
(EnergyAsia, April 11) — Caltex Australia said there had been a serious incident at its Lytton oil refinery in Brisbane last week as a result of the escape of hydrogen fluoride gas. “The 24 people who were taken to Brisbane hospitals following the incident are currently being held for observation or have already been released. ...
(EnergyAsia, April 11) — Setting new and more specific directions for Australia’s upstream oil and gas industry will be high on the agenda at the 45th annual conference of the Australian Petroleum Production & Exploration Association (APPEA), starting in Perth this Sunday. The annual conference Ð from April 10 to 13 – is the largest...
(EnergyAsia, April 11) — Australian upstream company Santos Limited has announced that the dividend rate for its Franked Unsecured Equity Listed Securities (FUELS) will be 5.2862% per annum for the period covering March 31 2005 to September 29 2005. After incorporating the value of expected franking credits, the grossed-up dividend rate equates to 7.5517% per...
(EnergyAsia, April 11) — A government analyst has predicted that coal would remain China’s main energy source for years, with oil a distant second. China’s coal consumption of 1.97 billion metric tons last year accounted for 68.7% of its energy mix last year, while oil provided 21.8% and gas just 2.8%. Water and hydroelectricity represented 6.7%...
(EnergyAsia, April 11) — Today’s crude market can be described as schizophrenic, with U.S. inventories rising toward 310 million barrels, but WTI prices continuing to flirt with record highs, and Chinese imports falling by one million b/d in January while refinery runs remained near record highs. According to US energy consultants ESAI, OPEC recently...
(EnergyAsia, April 11) — Executives of Saudi Aramco’s marketing and supply planning (M&SP) unit and Vela International Marine Ltd gathered recently to learn about emerging trends in the global crude-oil and shipping markets. Saleh B. K’aki, president of Vela, said it was the first time key personnel from Aramco’s marketing and shipping arms and other...
(EnergyAsia, April 11) — The Sri Lankan government will likely meet next week to decide on restructuring the Ceylon Electricity Board (CEB) and the Ceylon Petroleum Corporation (Ceypetco) after canceling a meeting late last month for fear of provoking further industrial action by labour unions. The Cabinet caved in after most of the 52 trade...
(EnergyAsia, April 11) — US major Exxon Mobil Corporation said it has been chosen by the Abu Dhabi Supreme Petroleum Council (SPC) for final negotiations regarding participation in the further development of the Upper Zakum offshore oilfield. In a statement issued by the SPC, ExxonMobil was said to have been chosen based on submission of...
(EnergyAsia, April 11) – After a better than expected performance in 2004, the Philippines economy is expected to grow at around 5% in each of the next three years, according to a major Asian Development Board (ADB) report. Last year, the economy expanded by 6.1%, the highest rate in 15 years, underpinned by a benign...