(EnergyAsia, June 16) — Rapid growth in demand for all forms of energy dominated world energy markets in 2004, leading to rising prices, said BP. While growth in demand from China in particular was exceptional, the strength of demand growth was a global phenomenon, increasing above the 10-year trend in every region of the world....
(EnergyAsia, June 16) — MayBan Securities issued the following research note on Malaysian-listed energy services company Wah Seong Corp. The report is based on Wah Seong’s briefing for analysts last month. Wah Seong aims to be a major oil and gas services company in the region by 2007 and plans to make itself present...
(EnergyAsia, June 16) — India’s seven state-owned oil companies had a tough fiscal 2004, reporting a 24.6% drop in aggregate net profit to Rs 91,110 million. Revenue was up 22.4% to Rs 3,011,700 million. (US$1=Rs44). Indian Oil Corporation (IOC), Hindustan Petroleum Corporation Ltd (HPCL), Bharat Petroleum Corporation Ltd (BPCL), IBP, Bongaigaon Refinery, Kochi Refineries...
(EnergyAsia, June 16) — Hardy Oil and Gas has become the first Indian oil and gas company to list in London when it floated on the Alternative Investment Market last month. The company hopes to raise 15 million pounds, which would give it a market value of about 75 million pounds, said Infraline news service....
(EnergyAsia, June 16) — The sun has been in existence a lot longer than the oil industry. Yet, solar energy is still an insignificant part of today’s world energy supply compared to fossil fuels. Most governments and corporations remain oblivious to the potential of the sun’s heat and light to provide an endless supply of...
(EnergyAsia, June 16) — The world’s largest private sector oil and gas company believes promoting free markets, global participation and technology is the best way to mitigate the impact of climate change. And it says it wants greater dialogue and co-operation with all interested parties to develop long-term solutions. By its sheer size — a...
(EnergyAsia, June 16) — Middle East Petrol plans to invest $60 million to expand its oil storage terminals in the Caspian Sea area as a result of the growing flow of Kazakh crude to world markets, according to the Caspian Business News (CBN). Crude supply in Central Asia has increased through the recently completed Baku-Tbilisi-Ceyhan...
(EnergyAsia, June 16) — Dubai Holding and the New York Mercantile Exchange (NYMEX) have jointly established the Dubai Mercantile Exchange (DME) to develop the Middle East’s first energy futures exchange. Expected to begin operating early next year, the DME will be developed under the direct instruction of Dubai’s Crown Prince, His Highness General Sheikh Mohammed...
(EnergyAsia, June 16) — Is the planet headed for environmental hell and ultimate destruction if countries fail to curb their greenhouse gas emissions as spelt out under the Kyoto Protocol? For the protocol’s supporters, environmental meltdown is already underway, hence the desperate call to action. Greenhouse gases, increasingly produced by human activity, are blamed for...
(EnergyAsia, June 16) — UK’s Cairn Energy said it has received formal approval from the Indian government for an 18-month extension of the exploration licence for further appraisal over 2,884 sq km of acreage in the block off the north and west of Rajasthan state. This appraisal area incorporates the Bhagyam and Shakti oil fields...
(EnergyAsia, June 15) — SK Energy Asia Pte Ltd (SKEA) said it has withdrawn its application to place China Aviation Oil (Singapore) Corporation Ltd (CAO) under judicial management. The subsidiary of Korea’s SK Corp said it made the decision following the decision this week by Justice Kan Ting Chiu of the Singapore High Court...
(EnergyAsia, June 15) — Australia’s BHP Billiton has approved a fifth train expansion of the liquefied natural gas (LNG) processing facilities at the North West Shelf Project on the Burrup Peninsula in Western Australia. The approval covers a liquefaction processing train with a capacity of 4.2 million tonnes per annum (mtpa), additional processing facilities...
(EnergyAsia, June 15) — Malaysia’s Petronas, through its subsidiary PC Madura Ltd, has signed a sales agreement for the supply of gas to Indonesia’s PT Perusahaan Gas Negara (PGN) from its 25%-owned Maleo field in Indonesia. The Maleo gas field is located within the Madura Offshore PSC area, southeast of Madura Island in...
(EnergyAsia, June 15) — Singapore-listed PEARL Energy said it has begun oil production from its Jasmine field in Block B 5/27 in the Gulf of Thailand. The initial flow rate is approximately 2,000 barrels of oil per day from the first three development wells. The company said production at the Jasmine offshore platform has...
(EnergyAsia, June 15) — Innovene, BP plc’s petrochemicals and refining subsidiary, and Delta International, a leading Saudi-owned independent development company, said they have signed a Memorandum of Understanding (MOU) for a major investment in Saudi Arabia’s petrochemical sector. The memorandum marks the beginning of detailed negotiations between Innovene and Delta for the construction of a...
(EnergyAsia, June 15) — Russia’s Sakhalin Energy said it has signed a full sales and purchase agreement (SPA) to supply LNG to Japan’s Toho Gas Co Ltd. As part of the full agreement, Toho Gas has also decided to take an additional 200,000 tonnes per annum (mtpa) for 20 years. Sakhalin Energy said that...
(EnergyAsia, June 15) — Engineering firm Foster Wheeler Ltd said that its UK subsidiary, Foster Wheeler Energy Limited, has been awarded a project management services contract by India’s Oil and Natural Gas Corporation (ONGC) for a grassroots facility associated with the removal of ethane, propane and butane from liquefied natural gas (LNG) to be constructed...
(EnergyAsia, June 15) — Dubai Holding, the investment arm of the Dubai government, has launched Dubai Energy to focus on investing in energy projects around the world. Headed by former ConocoPhillips executive Ahmad Sharaf, the company will invest in foreign oil and gas ventures as well as build up a diversified energy investment portfolio....
(EnergyAsia, June 15) — Nasdaq-listed China Energy Savings Technology, Inc (CEST) said its China-based subsidiary Starway Management Limited has landed a contract with the government of Liaoyang City in Liaoning Province to provide energy saving products worth more than $4.5 million. The contract will kick in with China heading into the peak power demand season...
(EnergyAsia, June 15) — The Parliament House of South Australia state has installed a solar facility that will generate more than 20kw of zero-emission power at peak times. The facility was turned on last week by the Premier of South Australia, Mike Rann. Andrew Stock, Origin’s state director, said: “This initiative by the South Australia...
(EnergyAsia, June 14) — Despite Washington’s refusal to act against the threat of global warming, hundreds of cities, counties, states, colleges and businesses are moving ahead on their own. In the process they are saving huge amounts of money and helping reduce the US’s dependence on fossil fuels. According to BushGreenWatch site, in the...
(EnergyAsia, June 14) — Australian oil companies will soon have the proof that ethanol is safe to use while helping to correct the country’s trade imbalance, said Trade Minister Mark Vaile. A special taskforce commissioned by Prime Minister John Howard would soon present its findings that ethanol was good for the environment and safe for...
(EnergyAsia, June 13) — Nasdaq-listed Foster Wheeler Ltd said its Australian subsidiary Foster Wheeler (WA) Pty Ltd has been awarded an engineering, procurement and construction management (EPCm) contract with operator Woodside Energy Ltd on behalf of the North West Shelf liquefied natural gas (LNG) venture. The contract was awarded following investment approval by the NWS...
(EnergyAsia, June 13) — Talisman Malaysia Limited, a wholly owned subsidiary of Canada’s Talisman Energy Inc, said it has been granted additional acreage to be included within the Block PM-3 Commercial Arrangement Area (CAA) off the coasts of Malaysia and Vietnam. “The additional acreage to Block PM-3 CAA represents another important step in our...
(EnergyAsia, June 13) — Software company Allegro Development said it has signed an agreement to supply Singapore’s PowerSeraya Ltd its industry leading Allegro v.7 Energy Trading, Settlement and Risk Management Software. PowerSeraya operates generation assets with a capacity of approximately 3,100MW, supplying Singapore with about one third of its electricity. PowerSeraya also owns state-of-the-art oil...