(EnergyAsia, April 8) — Last month’s 14th Society of Petroleum Engineers Middle East Oil & Gas Show and Conference (MEOS 2005) attracted a record total of 6,075 trade visitors and conference delegates from around the world. According to the organisers, the four-day event experienced a 26% rise in participation over 2003.   MEOS covered oil...

(EnergyAsia, April 8) — A Bechtel-Technip joint venture was awarded a contract last month by Saudi Aramco to build natural gas processing facilities at Khursaniyah, near Jubail Industrial City in Saudi Arabia’s Eastern Province. Bechtel is a US engineering firm while Technip is French.   The consortium will provide engineering, procurement, construction, commissioning, and startup...

(EnergyAsia, April 8) — The AustralAsian consortium has signed a seven-year contract with the Philippines’ Department of Energy (DoE) to explore for oil and gas in the northwest Palawan basin. This is the eighth contract signed in the last 15 months, sparking hopes that the country is starting to attract serious attention from upstream investors....

(EnergyAsia, April 8) — The Middle East will continue to be a major oil industry player and will be the key supplier to the growing Chinese market, said Hussain Sultan, group CEO of Dubai’s Emirates National Oil Company (ENOC).   Addressing delegates at the recent Middle East Petroleum and Gas conference in Dubai, Mr Sultan...

(EnergyAsia, April 8) — Indonesia’s domestic oil consumption has fallen by about 16% after the government raised fuel prices last month. State oil and gas company Pertamina said that fuel consumption averaged 158,000 kiloliters per day in March, compared to February’s 189,700 kiloliters per day.   According to the Jakarta Post, demand in the first...

(EnergyAsia, April 8) — Indian Oil Corporation Limited and Oil India Limited (OIL) last month signed an exploration and production sharing agreement (EPSA) with Libya’s National Oil Corporation for the right to explore and produce in Block No 86 in the Sirte basin. This was the first PSC awarded to IndianOil Corp and the OIL...

 (EnergyAsia, April 8) — UK’s Rolls-Royce said it has signed an agreement with a Singaporean consortium of companies to jointly invest US$100 million in developing a commercially viable power system based on fuel cell technology.   Having begun research into fuel cell technology in 1992, Rolls-Royce said it established a wholly-owned subsidiary, Rolls-Royce Fuel Cell...

(EnergyAsia, April 8) — UAE is likely to join the power grid linking Gulf countries in 2008, said Energy Minister Mohammed bin Dha’en Al Hamili. The emirates’ national power grid is scheduled to be operational by mid-2006.   “We will first complete the UAE National Power Grid by mid 2006 and then will join the...

(EnergyAsia, April 8) — The Energy Field of Study of the Asian Institute of Technology (AIT), working together with Carl Bro International and COGEN Europe, recently launched two new sustainable energy projects in Bangkok. According to the AIT, the projects build upon a pipeline of projects in sustainable energy over the last 15 years in...

(EnergyAsia, April 8) — Fueled by stronger domestic consumption and investment, Indonesia’s economy is expected to expand by 5.5% in 2005, despite the effects of the December 2004 tsunami and by 6% to 6.5% in the following two years, according to an ADB report. The Asian Development Outlook 2005 (ADO), the annual ADB flagship publication...

(EnergyAsia, April 7) — The EuroGulf Energy Forum held in Kuwait on April 2 to 3 is the concluding event of the Synergy Programme held under the patronage of Sheikh Ahmad Fahad Al Ahmad Al Sabah, Minister of Energy of Kuwait and Chairman of KPC. Its objectives include dialogue aimed at policy formulation and implementation...

(EnergyAsia, April 7) — Keppel FELS Ltd, the wholly owned subsidiary of Singapore’s Keppel Offshore & Marine Ltd, has secured a US$128.8 million contract for the construction of a KFELS B Class jackup rig for Seatankers Management Co Ltd.   The jackup, built to Keppel FELS’ proprietary design, is capable of drilling down to 30,000...

(EnergyAsia, April 7) — Keppel FELS Ltd, the wholly owned subsidiary of Singapore’s Keppel Offshore & Marine Ltd, has secured from regular customer ENSCO International Inc (ENSCO) an order to build a KFELS B Class jackup rig for US$117.2 million. The rig will be a replacement for ENSCO 64, which was heavily damaged by Hurricane...

(EnergyAsia, April 7) — Several Chinese companies have formed a 50-year joint venture to build an oil-storage facility in Yangshan port, near Shanghai. Located at the mouth of the Yangtze River, iIt will be China’s largest oil storage facility. Shanghai Sheng Gang Energy Sources Investment Co (40%), Hong Kong-listed Titan Petrochemicals (25%), PetroChina Co (13%),...

(EnergyAsia, April 7) — Dubai upstream company Dragon Oil Plc has reported strong financial and operating results last year.   After-tax profit jumped 73% to US$49.7 million from 2003 on revenue of US$97.1 million (18% up from 2003), earned from sales of 2.8 million (2003: 3.2 million) of its entitlement barrels.   The average gross...

(EnergyAsia, April 7) — The board of Hong Kong-listed XinAo Gas Holdings Limited said it has appointed Kong Chung Kau as an independent non-executive director and member of the audit committee from March 31, replacing Xu Liang who has resigned. Mr Kong, 36, the sole proprietor of C.K. Kong & Co. Certified Public Accountants, is...

(EnergyAsia, April 7) — Majors ChevronTexaco, Exxon Mobil Corporation and Royal/Dutch Shell said their subsidiaries have signed a framework agreement resulting in a new ownership structure for the Gorgon gas project and the Greater Gorgon gas resource off the coast of Western Australia state. The agreement provides the basis for the combined development of natural...

(EnergyAsia, April 7) — The Asian Development Bank (ADB) said China’s economy will continue to expand rapidly in 2005 to 2007, with growth rates expected at 8.5%, 8.7%, and 8.9%, respectively. According to a major report released this week, the ADB said that China’s economic growth last year accelerated to 9.5%, the highest level since...

(EnergyAsia, April 7) — Thai upstream company PTT Exploration and Production Public Company Limited (PTTEP) said subsidiary PTTEP International Limited (PTTEPI) will sign a farm-out agreement for Block B off the coast of Cambodia with Resourceful Petroleum Limited (RPL). PTTEPI will be the operator with a 40% participation interest while RPL will hold a 60%...

(EnergyAsia, April 7) — Saudi Aramco and Indian Oil Corporation Ltd. (IOC) have signed an agreement to evaluate future cooperation in petroleum research and development and the commercial exploitation of any resulting technologies. Abd Allah S. Al-Saif, Saudi Aramco’s senior vice president for exploration and production, said the accord signed last month in the presence...

(EnergyAsia, April 6) — In the latest edition of its Stockwatch Quarterly Review, US energy consultant ESAI examines the factors to shape the oil markets over the next 20 years. ESAI believes one major issue which may depress oil demand over this forecast period will be environmental factors, namely hybrid cars, legislation in California to...

(EnergyAsia, April 6) — South Korean-registered oil tankers with a hull life of over 26 years have been banned from operating from early April, a move aimed at preventing possible oil spills, the government has announced.   According to Yonhap news agency, the move is in line with a global trend to phase out single-hull...

(EnergyAsia, April 6) — A panel of Japanese oil experts is in favour of raising the country’s strategic oil stockpiles from fiscal 2006 to deal with growing fears of a possible oil supply shock, said a Japan Times report. The panel, which submitted its findings to the Ministry of Economy, Trade and Industry’s energy advisory...

(EnergyAsia, April 6) — ChevronTexaco Corporation is acquiring Unocal in a stock and cash transaction valued at approximately $18 billion including net debt, the companies have jointly announced. The acquisition, subject to approvals by Unocal shareholders and certain regulatory agencies, will significantly enhance ChevronTexaco’s position as a leading global energy provider.   The US major...

(EnergyAsia, April 6) — Pakistan and China are revising plans for the second phase development of the Gwadar Deep Sea Port project that could include the construction of seven additional berths, reported the Daily Times.   Under the original plan signed in August 2001, the US$600 million phase II plan consists of nine berths including...