(EnergyAsia, August 22) — State Korea National Oil Corporation has unveiled a new petroleum stockpiling facility in Seosan, South Chungcheong province, some 100 km southwest of Seoul. The facility consists of 24 above ground crude and oil product tanks on a 900,000 sq meter compound, according to Arirang News The Seosan oil storage base...
(EnergyAsia, August 22) — Two Malaysian companies are heading into a dispute as they make overlapping claims on the right to develop a reclaimed 40ha-island on Tanjung Bin in Johor state into the region’s petroleum hub. According to the Malaysian Business Times, Seaport Terminal (Johore) Sdn Bhd and KIC Oil and Gas Ltd are each...
(EnergyAsia, August 22) — 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 Goh Geok Ling who is retiring from the board after completing two three-year terms. Before his appointment, Mr...
(EnergyAsia, August 22) — Australian upstream company Woodside Petroleum Ltd has announced the appointment of two new directors to its board as replacements for two long-serving directors who will be retiring. Chairman Charles Goode said John Rose and Mr Rory Argyle will retire from the board from September 12. Ashton Calvert and David...
(EnergyAsia, August 22) — Jurong Shipyard, a wholly owned subsidiary of Singapore’s SembCorp Marine, said that SeaDrill Limited has exercised its option to build the second unit of an ultra deep water semi-submersible drilling rig worth US$404 million. The contract price is based on a turnkey contract with all owner-furnished equipment (OFE) including the 7,500...
(EnergyAsia, August 18) — The Indian government said it is investigating possible theft and adulteration of fuel delivered by Indian Oil Corp (IOC) to the country’s army in Jammu and Kashmir, Press Trust of India (PTI) news agency reported. Petroleum Minister Aiyar was reported as stating that his ministry will take “very strict action.” According...
(EnergyAsia, August 19) — Thailand’s PTT Public Company Limited said its second quarter net profits grew 30% to Bt18.36 billion or Bt6.56 per share as a result of high oil prices and strong energy demand growth in the country. (US$1=Bt40). PTT and its subsidiaries reported a 50% rise in revenues for the second quarter. ...
(EnergyAsia, August 19) — Malaysia has the potential to capture 10% of growing world demand for biodiesel, predicted to reach 10.5 million tonnes in two years, said a local resources company. According to the Business Times of Malaysia, TSH Resources Bhd group managing director Kelvin Tan said with the introduction of palm biodiesel domestically, Malaysia...
(EnergyAsia, August 19) — India’s eastern Bengal state is facing a liquefied petroleum gas (LPG) shortage due to a strike by transport workers, The Hindu reported. Haldia Refinery has already been forced to cut LPG production by 20% due to insufficient off-take from its customers. The refinery is said to be preparing for a total...
(EnergyAsia, August 19) — A US-based petroleum investment advisory firm said the oil and gas reserves in the central Tanon Strait between Cebu and Negros Oriental could be worth more than US$33 million. Texas-based Ispyoil told the Phiilippines News Agency (PNA) that Libertad in Bogo and in Maya in Daanbantayan towns are also likely to...
(EnergyAsia, August 19) — Royal Dutch Shell plc said it has appointed Loh Wai Kiew to lead its global Shell Marine Products business from November 1. After a period of familiarisation, she will assume her new role from the first quarter of 2006, reporting to Charles Harrison, executive vice president (business to business) who is...
(EnergyAsia, August 19) — Nasdaq-listed Washington Group International said its subsidiary, Washington Enterprises Emirates LLC, has won a contract from Abu Dhabi Oil Refining Company (TAKREER) to perform front-end engineering and design services for a sulfur-handling facility in the United Arab Emirates (UAE). The project will be implemented within the Abu Dhabi Oil Refining Company’s...
(EnergyAsia, August 19) — Four new entrants into the Philippines downstream oil industry will offer motorists ethanol-blended gasoline in at least 400 service stations nationwide from next month. According to the Manila Standard, Energy Undersecretary Peter Anthony Abaya said Flying V, Seaoil, Unioil and USA 888 will offer the fuel to jump-start the Department...
(EnergyAsia, August 19) — Ghana’s Ministry of Energy has awarded Dubai-based Kampac Oil Terminals a US$70 million contract to build and operate a floating oil storage unit off the coast of Tema. The facility will have a capacity of 2.3m barrels and store crude oil and products. According to Ghana’s GBC radio, the facilitiy is...
(EnergyAsia, August 19) — Indian upstream company Oil and Natural Gas Corporation (ONGC) last week reported discovering oil in the Cambay Basin and coalbed methane gas in Jharkhand. The oil find in Cambay Basin Sadra 9 and Sadra 10 fields “has already established a large hydrocarbon bearing area of about 35 sq km with...
(EnergyAsia, August 18) — High oil prices and the rising cost of oil imports are hurting India’s economy, according to the Reserve Bank of India (RBI). In a recent report, it said that the average crude oil price Indian importers had to pay has increased to US$52.2/barrel in the April to June period compared...
(EnergyAsia, August 18) — The embattled Philippines government said the country faces an energy crisis arising from rising oil prices. In a statement, Press Secretary Ignacio Bunye said Filipinos, who are calling for President Gloria Macapagal Arroyo to step down, should close ranks. The Department of Energy (DOE) said there were no indications that...
(EnergyAsia, August 18) — Singapore’s SembCorp Environmental Management (SembEnviro) has named Heng Chiang Gnee, the former deputy president of SembCorp Marine as its CEO from August 15. He will relinquish his positions as an alternate director in the SembCorp Marine board, chairman of Sembawang Shipyard Pte Ltd (SSPL) and his directorships in all SembCorp Marine...
(EnergyAsia, August 18) — Iraq is in discussion with 17 international firms to build new refineries in the country, an unidentified official at the oil ministry told a Dubai newspaper. According to the Khaleej Times, the refineries, to be constructed in Baghdad, Mosul and Basra, will have capacities ranging between 250,000-300,000 barrels per day....
(EnergyAsia, August 18) — Indonesia’s state energy company PT Pertamina has set aside US$70 million to buy six oil tankers as part of its plans to gradually replace its ageing fleet of 135 tankers, according to ANTARA news agency. Some of the 135 tankers used mainly to transport oil fuel for domestic distribution are...
(EnergyAsia, August 18) –: BP, Total, Petronas and Saudi Aramco are among several international oil companies eyeing a stake in Hindustan Petroleum Corp Ltd’s proposed Rs120 billion Bhatinda refinery in the Indian state of Punjab. HPCL is planning to tap the international capital market for funds in 2007. (US$1=Rs 45). “We are looking for...
(EnergyAsia, August 18) — Hong Kong-listed Panva Gas Holdings Limited said its first half 2005 net profit rose more than 34% to HK$128 million on a 12.9% rise in revenue to HK$958 million. (US$1=HK$7.78). Gross profit grew by 31.28% to HK$225 million. The company said its wholesale liquefied petroleum gas (LPG) business recorded a...
(EnergyAsia, August 18) — Thai oil company Bangchak Petroleum Plc expects to double the sale of its E-10 fuel, a blend of 10% ethanol and 90% gasoline, to 40 million litres per month by the end of the year, reported the Bangkok Post. Biofuel sales will grow rapidly now that the government has decreed that...
(EnergyAsia, August 18) — Singapore-listed SembCorp Industries (SCI) turned in a strong first half performance, powered by good showing from its utilities, marine and logistics businesses. The group’s profit attributable to shareholders (PATMI) rose 40% to S$146.7 million over the same period while turnover grew 23% to S$3.5 billion. (US$1=S$1.65). Subsidiary SembCorp Utilities saw...
(EnergyAsia, August 18) — India has invited South Korean oil companies to invest in its upstream and refining sectors as well as work jointly to explore opportunities in other countries. “We have invited them to invest in India both in upstream and refining and especially in export-oriented refining. I have suggested that working together...