(EnergyAsia, July 6) — Australian resources giant BHP Billiton said it has approved the capital expenditure for its 35% share of the costs to develop the Neptune oil and gas field in the Gulf of Mexico. The Neptune facility will have a design capacity to produce up to 50,000 barrels of oil and 50 million...
(EnergyAsia, July 6) — US major Chevron Corporation said it has decided to move the Greater Gorgon gas development in Australia into the Front End Engineering and Design (FEED) phase. The FEED scope for the Greater Gorgon development includes the establishment of a 10 million tonnes per year, two-train liquefied natural gas (LNG) facility...
(EnergyAsia, July 6) — Finland’s W’rtsil’ has inaugurated a state-of-the-art production plant in Wuxi, located about 100 km west of Shanghai, China. W’rtsil’ Propulsion (Wuxi) Co Ltd, the company’s first wholly-owned production venture in China, focuses on the manufacture of Lips-brand Transverse Thrusters. Also known as bow thrusters or tunnel thrusters, they are used in...
(EnergyAsia, July 6) — The Tokyo Electric Power Company, Inc has signed an agreement to acquire a 14% stake in Indonesia’s Paiton I Project from a current shareholder. The US$137 million transaction makes TEPCO the first Japanese electric power company to invest in the independent power producer (IPP) business in Indonesia. The project involves a...
(EnergyAsia, July 6) — Keppel AmFELS, the US-based wholly owned subsidiary of Singapore’s Keppel Offshore & Marine Ltd (Keppel O&M), has signed contracts for the construction of two jack-up rigs with Scorpion Offshore of Houston, Texas. The contract price for the two rigs, excluding owner furnished equipment, is approximately US$174 million. Keppel said these...
(EnergyAsia, July 6) — The Bank of Thailand wants the government to float diesel prices in a bid to reduce hefty oil-import bills and reduce the country’s rising trade deficit. According to analysts’ estimates, Thailand’s current account came in at a record shortfall of US$1 billion in April, bringing the total deficit to US$2.7...
(EnergyAsia, July 5) — Singapore’s KS Energy Services Limited said it has entered into an agreement to provide an upgraded offshore jack-up rig to an unidentified Asian-based state owned oil and gas group. The project is valuied at US$42.5 million and KS Energy said it will be paid a fee based on the total value...
(EnergyAsia, July 4) — Australia’s Origin Energy said it has completed the issue of NZ$422 million and US$50 million of senior unsecured notes into the US private placement market. (US$1=NZ$1.33). The notes were issued in four tranches maturing 2012, 2014, 2017 and 2020. The NZ dollar proceeds from the notes have been used to repay...
(EnergyAsia, July 5) — Australian upstream company said it has executed a “definitive” merger agreement to acquire Tipperary Corporation as well as Slough Estates USA Inc’s 10% interest in Tipperary Oil and Gas Australia Pty Ltd. (a 90% subsidiary of Tipperary Corporation). The acquisition will provide Santos with an approximate 75% operated working interest in...
(EnergyAsia, July 5) — Calgary, Alberta-based Niko Resources Ltd said it achieved record results for the three and twelve months ended March 31, 2005. The company has growing exposure to upstream activities in India and Bangladesh.. For the year ending March 31, petroleum and natural gas sales were C$107.9 million compared to C$85.8 million in...
(EnergyAsia, July 5) _– An ExxonMobil sponsored study charges that Hong Kong government plans to cap carbon emissions would cost some US$2.5 billion/year, hurt the city’s local economy and potentially even worsen global warming. The study was conducted by the Australian APEC Study Center with sponsorship from US-based Exxon Mobil. According to the Hong...
(EnergyAsia, July 5) — Malaysia’s Genting Bhd said its indirect wholly-owned China-based subsidiary, GP China Ltd, will acquire interests in four power plants in China for US$71 million. (US$1 = RM3.80). The company is rapidly expanding into power-related ventures both locally and abroad. In a filing with the local stock exchange, Bursa Malaysia Bhd,...
(EnergyAsia, July 5) — Malaysia’s state oil and gas company Petronas has reported a 40.5% jump in revenue to a record RM137 billion last year. The company gained from both high oil prices and increased sales volume. Last year, Petronas sold a total of 207.1 million barrels of crude oil and condensates, a 6.6%...
(EnergyAsia, July 5) — Improved economics, concerns over energy security, and the pressure to limit emissions of greenhouse gases are promoting nuclear power’s fortunes broadly around the world, said US energy consultant CERA. In a recent report, CERA said Asian nations have been the most aggressive in their pursuit of nuclear power over the...
(EnergyAsia, July 5) — Russia-based Sakhalin Energy said it has loaded its 100th oil cargo from the Vityaz production complex. The cargo of approximately 680,000 barrels was loaded aboard an export tanker for delivery to Japan. On June 10, Sakhalin Energy started its seventh crude oil production season from the Vityaz production complex. The company said...
(EnergyAsia, July 5) — India’s Gujarat State Petroleum Corp (GSPC) has announced a major offshore natural gas discovery that could double the country’s gas production. According to Indian news media reports, the find is India’s biggest gas discovery ever. The find, made in early June by GSPC, is estimated to hold 20 trillion cubic...
(EnergyAsia, July 4) — The UK government has prioritised climate change for their G8 and EU Presidencies this year and less than a week before the G8 Summit starts on July 7. The International Climate Change Task Force convened by Prime Minister Tony Blair and the European Council see climate change as “probably, long-term...
(EnergyAsia, July 4) — A conference on successes, and challenges in electricity regulation in Central Asia opens in Beijing today, said the Asian Development Bank (ADB). The three-day event, bringing together about 50 industry participants and experts, is co-hosted by ADB and the China’s State Electricity Regulatory Commission (SERC) with financial support from the...
(EnergyAsia, July 4) — Unocal Corporation said its board of directors has set August 10 as the date of the special meeting of stockholders at which a vote is scheduled to be taken on the proposed merger with Chevron Corporation. Stockholders who hold shares of Unocal common stock at the close of business on June...
(EnergyAsia, July 4) — Canada’s TransCanada Corporation said it has reached an agreement to sell its approximate 11% in Indonesia’s PT Paiton Energy Company to subsidiaries of Japan’s Tokyo Electric Power Company for US$103 million. Paiton Energy owns two 615 megawatt coal-fired power plants in East Java, Indonesia. The transaction is expected to close in...
(EnergyAsia, July 4) — Australian upstream company Woodside said it has received a notice from Alcan Gove Pty Ltd terminating the gas sales agreement between the Blacktip joint venturers and Canadian aluminum giant Alcan. Alcan and the Blacktip joint venturers, Woodside Energy Ltd. and Eni Australia BV, had agreed last November on the sale...
(EnergyAsia, July 4) — China Aviation Oil (Singapore) Corporation Ltd said it has appointed a corporate governance assessment committee to improve the company’s corporate governance and management. The appointment follows its June 3 announcement following the release of the report prepared by PricewaterhouseCoopers (PwC), the special auditors appointed on November 30 at the direction of...
(EnergyAsia, July 4) — BP, Sinopec and Shanghai Petrochemical Company, the three parties in the SECCO petrochemical venture, last week celebrated the successful construction and commissioning of the manufacturing complex at a ceremony in Shanghai, following a decade-long collaboration. The 220-hectare SECCO facility, the largest petrochemical complex in China to date, was built in...
(EnergyAsia, July 4) — Raw materials merchant Noble Group said it has entered the international carbon emissions compliance market on July 1. With one of the industry’s most successful teams joining the company from the Dutch utility Nuon, Noble will immediately become a major player on the global market. The carbon credits team, managed by...
(EnergyAsia, July 4) — Canadian aluminum company Alcan Inc said it has reached an agreement with the PNG Gas Project on commercial terms for the sale of natural gas to Alcan’s Gove alumina refinery in the Northern Territory state of Australia. The agreement is for the supply of 43.5 petajoules per annum for a period...