EnergyAsia, July 22) — The Indonesian government has proposed to build the country’s 10th oil refinery in Tuban, a northern coast town of East Java province, as a long-term measure to reduce fuel shortages, said President Susilo Bambang Yudhoyono. “The government has decided to build a refinery in Tuban if oil exploration and exploitation can...
(EnergyAsia, July 22) — The concrete gravity base substructure (CGBS) for the Sakhalin II Phase 2 Project’s Piltun-Astokhskoye B (PA-B) platform has started its journey to Sakhalin, when it was towed out of the dry dock at Vostochny near Vladivostok port. Sakhalin Energy said that the tow-out of the PA-B structure follows the successful...
(EnergyAsia, July 22) — Australian upstream company Bounty Oil & Gas has named Laurence Roe as managing director, replacing Tom Fontaine. Mr Roe was previously the company’s exploration manager, a post he held since its listing on the stock exchange in 2002. In a statement, the company said the board believes that Mr Roe’s...
(EnergyAsia, July 22) — Chicago-based GlobalView Software Inc, an industry leader in providing fully integrated, Internet based, real-time and historical energy information solutions, said it has entered into a redistribution agreement with C1 Energy, a publisher of energy market pricing and news on China. Shen Ping, the founding director of C1 Energy, said: “As...
(EnergyAsia, July 22) — US inventories of heating oil and diesel have grown by a solid 14 million barrels over the last several weeks and are now well within their seasonal range. In the latest edition of the Atlantic Basin Stockwatch, ESAI said that these increased inventories should help margins decline, although they are expected...
(EnergyAsia, July 22) —- South Korea’s financially-troubled Incheon Oil Refinery Co is again attracting the interest of local and foreign companies amid a shortage of refining capacity in Asia and around the world. A district court said the country’s three largest refiners, SK Corp., GS-Caltex Corp. and S-Oil Corp, along with China’s Sinochem and...
(EnergyAsia, July 22) — Australian upstream company Santos Limited said it has agreed to sell its 100% working interest in permit VIC/RL1, which contains the undeveloped Golden Beach gas field, to Cape Energy Group. Golden Beach, located in the offshore Gippsland Basin, 4 km off the eastern Victorian coast, was discovered in 1967. ...
(EnergyAsia, July 22) — The operator of Australia’s Bass Straits gas (BassGas) project, Origin Energy, said production start-up will be delayed, but sweetened the disappointment by raising the field’s natural gas reserves. In late April, Origin had issued an alert that a number of defects, and potential defects, had been identified with respect to...
(EnergyAsia, July 22) — UK’s Cairn Energy said it is making “good progress” in its efforts to fast track development of its three largest discoveries to date in northern Rajahstan state in India. It said the combined 2P (proved plus probable) oil in place for the Fatehgarh reservoir in the Mangala, Bhagyam and Aishwariya...
(EnergyAsia, July 22) — Singapore-based KS Energy Services Limited said it has acquired a 20% equity interest in MEI Engineers Pte Ltd and also established a wholly owned subsidiary in Hong Kong called KS Tech Oilfield Support Limited. Its stake in Singapore-based MEI Engineers came through its purchase of 58,108 ordinary shares at S$1...
(EnergyAsia, July 21) — Malaysian oil and gas engineering firm Sumatec Resources is planning to build a 11.5 megawatt (MW) biomass power plant in Perlis, the country’s Business Times reported. The investment in the plant will be handled by Sumatec’s 80% owned affiliate company Perlis Biopower Shd Bhd. Under current plans, the biomass...
(EnergyAsia, July 21) Ð Malaysia holds a combined oil and gas reserves of around 19.49 billion barrels of oil equivalent (boe), according Bernama news agency. This includes oil reserves of 19 years and natural gas reserves of 33 years based on current rate of production, Bernama said, citing Petronas chief executive Mohamed Hassan Marican....
Mr Rutger van Thiel, managing director, Oiltanking Singapore, Mr Chia Kim Piow, managing director, Rotary Engineering Limited, ladies and gentlemen. I am pleased to join you at this groundbreaking ceremony, which marks the latest expansion of Oiltanking’s terminal and an important addition to the Jurong Island complex. Oiltanking is a good friend of Singapore, having...
(EnergyAsia, July 21) — The Canadian Renewable Fuel Association (CRFA) has responded immediately to the findings by two US universities that ethanol is not a viable energy source nor does it help the environment. Researchers at Cornell University and the University of California-Berkeley say ethanol production does not enhance the nation’s energy security, its agriculture,...
(EnergyAsia, July 21) — US energy companies Chevron Corporation and Unocal Corporation have jointly announced an amended merger agreement, raising Chevron’s offer for Unocal from US$16.5 billion previously to US$17 billion. The announcement represents a rejection by the Unocal board of an US$18.5 billion offer from China’s state-owned CNOOC which has become the subject of...
(EnergyAsia, July 21) — The Taiwanese government is preparing plans to restrict the carbon dioxide (CO2) emissions of the country’s top 200 energy consuming firms. The Economic Ministry’s Industrial Development Bureau (IDB) will target heavy energy consumers like Formosa Plastics Group (FPG), China Petroleum Corp (CPC) and China Steel Corp (CSC), CENS news media...
(EnergyAsia, July 21) — Oiltanking, the world’s second largest storage company for oils, chemicals and gases, will invest S$100 million in another 240,000 cubic metres of oil storage capacity in Singapore. (US$1=S$1.68). When completed by August 2006, the 6th phase of its expansion in Singapore will boost the company’s liquids capacity to 1.24 million cubic...
(EnergyAsia, July 21) — Rising international oil prices could undermine Sri Lanka’s economic performance this year, its Central Bank has warned. Its officials told BusinessLanka that oil prices could be as dangerous to Sri Lanka as the ongoing political instability. The country meets virtually all its oil and gas requirement from imports. With oil prices...
(EnergyAsia, July 21) — The US Department of Energy (DOE) has opened an office in Beijing to support the department’s efforts to develop cooperation with China on energy and nuclear security issues. Energy Secretary Samuel Bodman made the announcement in conjunction with the recent first meeting of the US-China Energy Policy Dialogue in Washington....
(EnergyAsia, July 21) — US-based Occidental Petroleum Corporation said a royal decree issued by the Sultanate of Oman has approved the contract for the development of the Mukhaizna oil field, one of the largest oilfields in Oman. Under the terms of a new Production Sharing Contract, Occidental will be operator of the field with a...
(EnergyAsia, July 20) — A prominent critic wants Vietnamese power utility Electricity of Vietnam (EVN) to be held accountable for the recent blackouts in the country’s northern regions. Nguyen Manh Hien, a former director of the Electricity of Vietnam’s Energy Institute, told the Vietnam News Service that the outages, which cost the country millions...
(EnergyAsia, July 20) — A prominent critic wants Vietnamese power utility Electricity of Vietnam (EVN) to be held accountable for the recent blackouts in the country’s northern regions. Nguyen Manh Hien, a former director of the Electricity of Vietnam’s Energy Institute, told the Vietnam News Service that the outages, which cost the country millions...
(EnergyAsia, July 20) Dutch oil and chemical storage specialist Vopak has awarded the construction of three additional jetties to Antara Koh and McConnel Dowell for a total amount of S$36 million. (US$1=S$1.65). The new jetties can accommodate tankers up to 150,000 dead weight ton and will be operational by August next year. “As...
(EnergyAsia, July 20) — Foster Wheeler International Corporation’s Abu Dhabi Branch has won a project management consultancy (PMC) services contract with Abu Dhabi Polymers Company Limited (Borouge) for a major expansion of the Borouge petrochemicals facility at Ruwais, United Arab Emirates. Foster Wheeler International is a subsidiary of engineering firm Foster Wheeler Ltd, while Borouge...
(EnergyAsia, July 20) — Russia’s Gazprom and Royal Dutch/Shell have signed a Memorandum of Understanding regarding a swap of shares in Zapolyarnoye-Neocomian and Sakhalin-II projects. Gazprom was represented by chairman Alexey Miller while Jeroen van der Veer, Shell’s chief executive, signed for the Anglo Dutch company at a recent ceremony in London. Shell said the...