(EnergyAsia, July 13) — Indonesia’s state oil and gas firm Pertamina said it has reduced premium gasoline supply to Jakarta, Surabaya and other major cities as part of an attempt to ease the country’s oil supply crisis. Achmad Faisal, head of Pertamina’s fuel division, told the Jakarta Post the plan was aimed at putting...
(EnergyAsia, July 13) — Petronas Methanol (Labuan) Sdn Bhd (PMLSB), a subsidiary of Malaysia’s state energy company Petronas, has awarded Lurgi AG of Germany the contract to expand its methanol plant in Labuan. Petronas said the expanded plant will produce 1.8 million tonnes of methanol a year, or 5,000 metric tonnes a day,...
(EnergyAsia, July 13) — India and the US are pushing to expedite bilateral energy cooperation, including nuclear power, ahead of Prime Minister Manmohan Singh’s visit to Washington on July 18 to 20. According to the Hindustan Times, India’s Deputy Chairman of Planning Commission Montek Singh Ahluwalia recently agreed with US Energy Secretary Samuel W Bodman...
(EnergyAsia, July 13) — Africa is on the verge of an unprecedented oil boom as exploration and production (E&P) opportunities are becoming scarce globally. Outside OPEC, production in Europe, North America and Asia is declining. Increasingly, oil companies are waking up to Africa’s potential as one of the few areas in the world with significant...
(EnergyAsia, July 13) — Qatar Petroleum, Qatar Nitrogen Company and L’Air Liquide Middle East have signed an agreement to establish a joint venture company called Qatar Industrial Gases Company. The official signature took place under the patronage of Abdullah Bin Hamad Al-Attiyah, deputy Prime Minister and Minister of Energy and Industry. He said: “We are...
(EnergyAsia, July 13) — Contact Energy Limited and its joint venture partner, International Power Australia and Mitsui & Co. Limited (IPM), will offer the Valley Power peaking station for sale, said Contact Energy’s CEO, Steve Barrett. “Our partners in the project, International Power Australia and Mitsui & Co. (IPM), intend to divest their 60% interest...
(EnergyAsia, July 13) — Foster Wheeler Ltd said its UK subsidiary Foster Wheeler Energy Limited has been awarded a front-end engineering (FEED) and project management services contract by Saudi Aramco for the Khurais full-field development in Saudi Arabia. This onshore crude increment program aims to deliver 1.2 million barrels per day (b/d) of Arabian light...
(EnergyAsia, July 12) — Tuas Power Ltd, a wholly-owned subsidiary of Singapore’s Temasek Holdings, has named Lim How Teck as non-executive chairman. Mr Lim has been a director of Tuas Power since May this year and succeeds Mr Goh Geok Ling who is retiring from the board after completing two three-year terms. Lim...
(EnergyAsia, July 12) — Malaysia LNG Sdn Bhd (MLNG), a subsidiary of the state oil and gas company Petronas, said it has signed a sale and purchase agreement (SPA) with Hiroshima Gas Co., Ltd to supply up to 82,000 metric tonnes of liquefied natural gas (LNG) to the Japanese company for eight years starting...
(EnergyAsia, July 12) — The steel associations of Japan and China have agreed to boost exchanges of environment protection expertise, with Japan pledging to provide Chinese companies with conservation technology. According to Kyodo News Agency, the Japan Iron and Steel Federation and the China Iron & Steel Association signed a memorandum on bolstering ties...
(EnergyAsia, July 12) — Australian upstream company Santos said it is accelerating its July 1 proposed acquisition of another upstream firm, American Stock Exchange-listed Tipperary Corporation and Tipperary Oil and Gas Australia Pty Ltd (TOGA). Santos said it has entered into a definitive agreement with Slough Estates plc, the parent company of Slough Estates USA,...
(EnergyAsia, July 12) — China National Offshore Oil Corporation (CNOOC) appeared to have struck back at US major Chevron in an indirect way as the two companies intensify their contest to take over another American oil and gas company Unocal. According to The Australian, CNOOC has pulled out of negotiations for an LNG...
(EnergyAsia, July 12) — OMV Aktiengesellschaft, Central Europe’s leading oil and gas group, has acquired the 10% stake in Borealis held by the Norwegian oil and gas company Statoil. Borealis is a leading global producer of plastics. Abu Dhabi’s International Petroleum Investment Company (IPIC), one of the key shareholders of OMV, has increased its...
(EnergyAsia, July 12) — Singapore-listed PEARL Energy Limited said it has completed an exploration well at the Chang Daeng 3 location in the Block B 11/38 contract area in the Gulf of Thailand. The well was drilled to a total depth of 8,535 feet. Although several reservoir intervals were encountered, they did not contain significant...
(EnergyAsia, July 12) — Sakhalin Energy said it has successfully completed the installation of the Lunskoye A platform concrete gravity base structure (CGBS) at its location in the Lunskoye field off the coast of northeast Sakhalin. Over four days early this month, the CGBS was slowly and carefully lowered to the seabed in a...
(EnergyAsia, July 12) — Malaysian engineering company KNM Group Bhd said it has secured a euro 9.3 million contract to supply waste heat boilers and sulphur condensers for the Qatargas II Development Project in Qatar. In a statement, KNM said its wholly owned subsidiary, KNM Process Systems Sdn Bhd (KNMPS) has secured a...
(EnergyAsia, July 12) — Dubai-based Global Process Systems (GPS) said it has secured a major contract to supply a Mobile Offshore Production Unit, or MOPU, to Petrofac in Malaysia. Petrofac, one of the most recent arrivals on the Malaysian oil and gas scene, operates the Cendor field in Block PM304 off the coast of Peninsular...
(EnergyAsia, July 11) — Siam Gulf Petrochemical Co (SGPC) expects to start-up its new 30,000 b/d refinery near Phetchaburi by year-end. It will be Thailand’s eighth and smallest oil refinery, and will not have much impact on the country’s domestic oil supply. SGPC managing director Gudsarin Jivoraviwat told the Bangkok Post that the plant...
(EnergyAsia, July 11) — The Group of Eight communiqué issued last week by world leaders at their summit in Gleneagles highlights the divisions between US President Bush and the rest of the world on tackling climate change. According to Greenpeace, the communiqué includes a statement affirming that the countries that have already ratified Kyoto would...
(EnergyAsia, July 11) Ð China will begin filling its first strategic petroleum reserve (SPR) later this year, state CCTV news media reported. The facility, near Zhenhai, includes 16 oil tanks to store 14 million tones of crude, equivalent to nearly 30 days of current national consumption. Construction of phase I, by PetroChina and Sinopec,...
(EnergyAsia, July 11) — India’s Oil and Natural Gas Corporation is planning to raise capacity at its Mangalore refinery to 15 million tonne/year, from currently 9.69 million tonne/year nameplate capacity. According to Indian newswire reports the expansion project of almost 55% will cost some Rs30 billion (US$=Rs43.4). The reports quoted ONGC chairman and managing...
(EnergyAsia, July 11) — The Indonesian government and US major ExxonMobil have finally signed a long-awaited deal that will allow the US company to tap the country’s biggest hydrocarbon discovery in decades, the Cepu oil field. Jakarta, state Pertamina and ExxonMobil have agreed to that the two companies will get a 45% equity stake...
Oil prices fell sharply on July 7 in response to several bomb blasts in London that killed more than 50 people and injured more than 700 others. Oil prices fell sharply, but rebounded. New York-based consulting group Eurasia Group says the blasts, the work of terrorists, are unlikely to have a lasting impact on...
(EnergyAsia, July 11) — A Korean-led consortium has won the engineering, procurement and construction (EPC) contract for Qatar’s planned US$790 million Laffan condensate refinery, according to Qatar’s Peninsula newspaper. The plant will be fed by Qatar’s increasing condensate supply. South Korea’s GS Engineering and Construction Corporation and Daewoo Engineering and Construction Company Ltd have...
(EnergyAsia, July 11) — Taiwan must do more to open up its downstream oil products market to foreign companies to encourage competition and efficiency, said analysts. With oil prices at record levels and still rising, the country risks being hit by a major oil shock. They said that Taiwan places too many obstacles hindering...