(EnergyAsia, June 23) — Thailand represented by state oil and gas company PTT has signed an agreement to purchase natural gas produced from Blocks B-17, C-19 & B-17-01 of the Malaysia-Thailand Joint Development Area (JDA). An agreement-signing ceremony last week was attended by Viset Choopiban, Thailand’s Energy Minister, Abu Talib Othman and Sivavong Changkasiri,...
(EnergyAsia, June 23) — Aramco Japan Holdings Company BV, a subsidiary of Saudi Arabian Oil Company (Aramco), has acquired an additional 18,840,000 shares in Japan’s Showa Shell from Royal Dutch/Shell Group. Saudi Aramco acquired a 9.96% strategic shareholding in Showa Shell Sekiyu K.K. from Royal Dutch/Shell Group pursuant to an agreement signed in July 2004. ...
(EnergyAsia, June 23) — Thailand’s state oil and gas company PTT Public Company Limited (PTT) said it has issued Bt4.04 billion worth of unsubordinated unsecured bond with 10 years maturity. (US$1=Bt43). The bond, issued to institutional investors on June 20, carries 4.75% fixed yield. Standard Chartered Bank (BKK Branch) was appointed the underwriter. PTT...
(EnergyAsia, June 23) — Singapore’s SembCorp Marine said its wholly-owned subsidiary, Jurong Shipyard, has secured its third rig building contract, worth US$131 million, from Petrojack ASA for the construction of a Baker Marine Pacific Class 375 Deep Drilling Offshore Jack-up Rig. The construction contract is the second option rig that Jurong Shipyard granted to...
(EnergyAsia, June 23) — ONGC Videsh Limited (OVL), a wholly-owned subsidiary of India’s Oil and Natural Gas Corporation Limited (ONGC), said ithas registered a record net profit of Rs7,610 million for the financial year ended March 31, 2005, up 78% against the previous year.The huge growth in profitability has been recorded even after accounting for...
(EnergyAsia, June23) — In a major rebuke to Washington, members of the US Conference of Mayors unanimously passed a resolution recently requiring their cities to try to meet or exceed emissions standards set by the Kyoto Protocol, an international global-warming treaty ratified earlier this year without the US. According to Seattle’s Komo TV, mayor...
(EnergyAsia, June 23) The UAE and China have signed a memorandum of understanding that will bolster bilateral relations in the energy and oil sector. The MoU was signed by Yousif Omeir bin Yousif, CEO of Adnoc and Chen Geng, Vice President of China National Petroleum Corporation (CNPC). The ceremony last week was attended by...
(EnergyAsia, June 23) — China, the world’s second-largest energy consumer after the US, will spend some Rmb400 billion (US$1=8.27) on building new nuclear power plants by 2020, according to China Daily. The energy-hungry country intends to increase the amount of installed nuclear power capacity from the current 16 gigawatts (GW) to 40GW within 15...
(EnergyAsia, June 23) — Thai Oil Plc, Thailand’s largest oil refiner, has begun cracking heavy oil supplied from Bangchak Petroleum Plc under a co-operation agreement between the two state-owned energy giants that will optimise the use of the country’s refining capacities. The Bangkok Post reported that Thaioil will bring in bunker oil from the...
(EnergyAsia, June 23) Ð The Indian government will soon drastically increase domestic natural gas prices, the first increase since April 2002. The tariff hike is set to directly affect all Indian consumers and most the country’s industrial sectors, newswire Infraline reported, although it is not yet clear when exactly the price hike will take...
(EnergyAsia, June 22) — Financial strength is the number one determinant of a company’s reputation in Singapore, according to the findings of the country’s first poll on what shapes corporate reputation. The survey of 1,500 local respondents was commissioned by regional communications consultancy Reputation Management Associates Pte Ltd (RMA) to determine base-line perceptions of corporate...
(EnergyAsia, June 22) — Esso Australia Pty Ltd, a subsidiary of Exxon Mobil Corporation, has announced that the Kipper project participants (Esso Australia Resources Pty Ltd, BHP Billiton, Woodside Energy Ltd and Santos Ltd) had signed a Memorandum of Understanding (MOU) to develop the Kipper gas field in the Bass Strait. The project participants...
(EnergyAsia, June 22) — Hong Kong could reap massive benefits if it moderates its excessive use of air conditioning, top administration officials said, calling for air-conditioners to be set at no lower than 25.5C. According to Assistant Director of Environmental Protection, Eric Chan, savings of some HK$1 billion (US$=HK$7.7) could be achieved each year...
(EnergyAsia, June 22) — Xinao Gas Holdings Limited, a privately-owned piped gas operator in China, and China Huayou Group, a subsidiary of China National Petroleum Corporation, have jointly secured a piped gas project in Luoyang city in Henan province. The two companies have signed a Memorandum of Understanding (MOU) on the project with the Luoyang...
(EnergyAsia, June 22) — Top Pakistani and Indian government officials will be pressing ahead in coming weeks with work on plans for a natural gas pipeline from Iran to India despite US objections and the countries’ history of mutual distrust, according to Pakistani media reports. The much-vaunted Iran gas pipeline could lay the foundations...
(EnergyAsia, June 22) — Singapore-listed upstream company PEARL Energy Limited has announced the completion of the first delineation well in the Bussabong Production Area Application in the Block B 12/32 contract area in the Gulf of Thailand. The Bussabong 6A delineation well was drilled to a total depth of 8,026 feet. Although several...
(EnergyAsia, June 22) — Jurong Shipyard, a wholly-owned subsidiary of Singapore’s SembCorp Marine has secured an EPC contract to build two ultra-deepwater semi-submersible drilling rigs worth US$780 million for Seatankers Management Co Ltd. Seatankers will give the public drilling company SeaDrill Ltd the right to acquire the rigs at existing contract terms. Jurong Shipyard...
(EnergyAsia, June 22) — Singapore’s Keppel FELS Ltd said it and Diamond Offshore Drilling, Inc have signed a US$300 million contract for the construction of two B Class (Super) jackup rigs for Diamond’s subsidiaries. The agreement follows a Letter of Intent signed between the two companies announced on May 3. These two high-performance premium...
(EnergyAsia, June 22) — Thai state upstream company PTTEP said the consortium comprising the Malaysia-Thailand Joint Authority, PTTEPI and PC JDA Limited as sellers have signed the gas sales agreement (GSA) of MTJDA project (Blocks B-17 & C-19 and B-17-01) with buyers PTT Public Company Limited (PTT). Gas production is expected to start at the...
(EnergyAsia, June 22) — Thailand’s oil and gas demand excluding feedstock for petrochemicals rose by 5.7% from last year to 1,181,400 barrels per day (b/d), said Pongpayak Sathienpakiranakorn, PTT Public Company Ltd’s vice president of corporate public relations. Consumption of refined oil products averaged 748,900 b/d, an increase of 3.3% over the previous year....
(EnergyAsia, June 21) — Japan’s Parliament, The Diet, has passed a law mandating the companies report the level of their greenhouse gas emissions from next April 1. The gases include carbon dioxide, methane, nitrous oxide and three alternatives to chlorofluorocarbon. More than 8,000 companies will be affected by the move as Japan seeks to...
(EnergyAsia, June 21) — Lucite International, a world leading manufacturer of acrylic products and owner of the renowned Lucite¨ and Perspexª brands, last week said it will build a 120,000 manufacturing facility in Singapore using its innovative and proprietary Alpha technology. The plant, scheduled for completion at the end of 2007, will produce methyl...
(EnergyAsia, June 21) — Singapore Telecommunications Limited has announced that remote land-based users can look forward to enjoying all the benefits of broadband with its new Inmarsat Broadband Global Area Network (BGAN)) service scheduled for launch at the end of 2005. The oil and gas industry is a key target of Singtel’s new service. ...
(EnergyAsia, june 21) — Singapore Exchange (SGX) has announced its intention to develop and implement an over-the-counter (OTC) clearing facility that will initially cover energy derivatives and forward freight agreements (FFA). The facility is expected to be ready in the first quarter of 2006. SGX said the growth in commodities traded and commodity-linked derivatives in...
(EnergyAsia, June 21) — The US Mobile Security Detachment (MSD) 25, the unit currently assigned to protect Iraq’s critical two oil platforms, are training Iraqi Naval Marine Force personnel to take over all close-in point defense operations aboard the Al Basrah (ABOT) and Khawr Al Amaya (KAAOT) oil terminals. MSD 25 arrived on station...