QATAR: Qatar Petroleum and Mitsui & Co sign agreement for participation in Qatargas 3 project

(EnergyAsia, September 23) — Qatar Petroleum (QP) said it has signed a Heads of Agreement (HOA) with Mitsui Co Ltd for the Japanese company’s participation in the Qatargas 3 project in Ras Laffan Industrial City in Qatar.   The agreement was signed last week on behalf of Qatar Petroleum by Abdullah Bin Hamad Al-Attiyah, Qatar’s...

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MALAYSIA: Carotech emerging as hot biodiesel stock

(EnergyAsia, September 23) — Malaysia’s Carotech Bhd is emerging as the country’s first biodiesel stock as it moves to expand capacity to produce palm oil-based biodiesel. Carotech is better known for its production of tocotrienols, a palm oil-based vitamin extract, reported the Star newspaper. Carotech is positioned to capitalise on the projected huge demand for palm...

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BRUNEI: Brunei Shell Petroleum bought three Sikorsky helicopters

(EnergyAsia, September 23) — Sikorsky Aircraft said that Brunei Shell Petroleum (BSP) has contracted to buy three S-92 helicopters for offshore oil service. The value of the contract was not disclosed. BSP becomes the first oil company in Asia to select the S-92 for fleet operations.   BSP and Sikorsky announced the deal in a...

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INDIA: ONGC and Cairn get New Delhi’s okay to build Rajasthan refinery

(EnergyAsia, September 23) — Oil and Natural Gas Corp (ONGC), India’s largest oil producer, has received government approval for a 7.5 million tonne/year refinery at the Barmer district in Rajasthan state, Infraline newswire reported.             ONGC will build the unit through an equal joint venture between its subsidiary MRPL and the UK’s Cairn Energy. Cairn...

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DUBAI: Kampac Oil signs upstream deal with Senegal

(EnergyAsia, September 23) — Dubai-based Kampac Oil M.E., part of the Kampac Oil group, has signed an oil exploration and production concession in the offshore waters of the West African state of Senegal, the company announced. Senegal’s national oil company, Petrosen, is a minority partner in the concession. The contract, signed recently by Kampac chairman...

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AUSTRALIA: Canberra pledge “no increase” in gasoline excise rate

(EnergyAsia, September 23) — The Australian government said it will not increase the gasoline excise tax.             In a joint statement, Minister for the Environment and Heritage Ian Campbell and Treasurer Peter Costello said there will be no increase in the excise tax to fund the government’s plans to reduce sulphur content in Australia’s gasoline...

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AUSTRALIA: Woodside said Mauritania oil project remains on course for oil production from February 2

(EnergyAsia, September 23) — Australian upstream company Woodside said its offshore Chinguetti oil development in Mauritania remains on schedule to start producing crude oil in February 2006. The project is 88% complete. Woodside said: “The Chinguetti joint venture has completed an update of estimated project costs. Known project costs to complete the installation and start-up...

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AUSTRALIA: Santos sells interest in Timor Sea exploration permit

(EnergyAsia, September 23) — Australian upstream company Santos Limited said it has agreed to sell its 25% interest in the exploration permit JPDA 03-01 in the Timor Sea to Paladin Resources plc (Paladin).             The permit contains the undeveloped Jahal and Kuda Tasi oil fields and is located in the Joint Petroleum Development Area between...

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SINGAPORE: KS Energy unit lands deal to lease equipment to provide offshore oil and gas operations

(EnergyAsia, September 23) — Singapore’s KS Energy Services Limited said its wholly owed subsidiary, KS Tech Oilfield Support Ltd, has entered into a lease agreement with an unidentified “North Asian national oil company” to provide a set of refurbished offshore capital equipment for a total rental of US$3 million over an 18-month period. The lease...

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SINGAPORE: Speech by Vivian Balakrishnan, Singapore’s Second Minister for Trade and Industry, at the

(EnergyAsia, September 22) — The issue of record high oil prices continues to be the hottest topic of discussion, amongst producers and consumers, citizens and governments, experts and pundits alike. The consensus has been that the key contributor to escalating oil prices is the exceptionally high global demand for oil, especially in Asia, which accounted...

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CHINA: Sinopec to buy stake in insurance firm Anbang

(EnergyAsia, September 22) — China Petroleum and Chemical Corporation (Sinopec), China’s largest oil refiner, is planning to buy a 20% stake in Anbang Property & Casualty Insurance, an auto insurer.  China Daily reported that Sinopec will pay RMB338 million (US$1=RMB8.1) for the stake, making it one of Anbang’s largest stakeholders, along with carmaker Shanghai Automotive...

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INDIA: Synthetic Rubber maker SRF to sell emissions credits to Shell

(EnergyAsia, September 22) — Indian industrial synthetic products maker SRF Ltd has signed a deal to sell Shell Trading International 500,000 certified emission reductions (CERs) credits by April 2007, Press Trust of India reported.             SRF also signed up Shell to join as a partner in SRF’s Clean Development Mechanism (CDM) project, another emission reduction...

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INDIA: Mangalore Refinery declares 10% dividend, first in 17 years

(EnergyAsia, September 22) — India’s Mangalore Refinery and Petrochemicals Limited (MRPL) has declared a maiden dividend of 10%, its first time in 17 years.   Announcing this at the company’s 17th annual general meeting, chairman Subir Raha, spoke extensively about the great strides MRPL has made since ONGC took over in March 2003.   Mr...

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THAILAND: Proposal to merge Rayong Refiney, Star Petroleum Refining dropped

(EnergyAsia, September 22) — Thai state energy company PTT and US major Chevron Corp have agreed to drop their plans for merging their Thai refining units amid differences over strategy.   PTT-owned Rayong Refinery Co (RRC) and Chevron’s Star Petroleum Refining Co (SPRC) could not agree on several key policies including marketing strategy and the...

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AUSTRALIA: ABARE predicts oil exports to earn A$9 billion this year

(EnergyAsia, September 22) — Australia will earn A$9 billion (US$1=A$1.3) from oil exports, mostly to Asian countries, predicted state agency Australian Bureau of Agricultural and Resource Economics (ABARE). The earnings are 43% higher than previous year.   In its latest report on the Australian commodities sector, ABARE said domestic crude oil production would grow 7%...

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SINGAPORE: Keppel FELS delivers jackup rig 18 days ahead of schedule

(EnergyAsia, September 22) — Keppel FELS Limited (Keppel FELS), a subsidiary of Singapore’s Keppel Offshore & Marine Ltd, said it has delivered a KFELS B Class jackup rig to the National Drilling Company of Abu Dhabi (NDC) 18 days ahead of schedule. The rig has also achieved a zero-accident safety record during her more than...

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INDIA: New Delhi may oust ONGC chief Raha at AGM

(EnergyAsia, September 22) — New Delhi might force the resignation of Oil and Natural Gas Corporation (ONGC) chairman Subir Raha at the firm’s annual general meeting (AGM), Infraline newswire reported.   Mr Raha is fighting government plans to appoint two additional government directors to the company’s board. There are already three government appointees on the...

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INDIA: ONGC Videsh to explore for oil offshore Cuba

(EnergyAsia, September 22) — The overseas arm of India’s state-owned Oil and Natural Gas Corp, ONGC Videsh, has successfully bid on two blocks in Cuba’s potentially rich Gulf of Mexico waters, Infraline newswire reported.   High oil prices and the international scramble to buy up potential resources has increased international interest in Cuba’s largely unexplored...

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VIETNAM: Electricity of Vietnam to build US$151 million transmission line

(EnergyAsia, September 22) — The Electricity of Vietnam (EVN) Corporation is seeking to build a 500kV electricity transmission line linking the northern provinces of Son La, Phu Tho and Vinh Phuc and Hanoi.   According to the Vietnam News Agency (VNA), EVN has submitted a feasibility study to the Vietnamese Prime Minister for approval to...

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MARKETS: Tools are available to reduce winter gas price shock, CERA tells US Congress

(EnergyAsia, September 21) — North America’s already-tight natural gas supply- demand balance, ratcheted tighter by Hurricane Katrina, could be relieved somewhat for the coming winter by encouraging conservation and fuel flexibility, Cambridge Energy Research Associates told the US House Government Reform Subcommittee on Energy and Resources last week. In his testimony, Michael Zenker, CERA’s senior...

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UAE: Sharjah Pipeline Co to build jet fuel storage in free zone

(EnergyAsia, September 20) — Sharjah Pipeline Co (SPC) has signed a lease agreement with Hamriyah Free Zone to build a jet fuel storage facility in the free zone that will be linked directly to Sharjah International Airport (SIA) by a 41 km pipeline, according to AMEInfo.   The agreement was signed on behalf of HFZ...

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CHINA: Fourth largest state oil company launched

(EnergyAsia, September 21) — China has issued a licence for the establishment of its fourth largest state oil company to help it meet its growing domestic oil demand. The country’s main oil companies include China National Petroleum Corp., China Petrochemical Corp and China National Offshore Oil Corp.   Shaanxi Yanchang Petroleum Group Co, formed by...

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INDONESIA: Pertamina sets up two units to oversee Cepu deal

(EnergyAsia, September 21) — Indonesian state oil and gas firm Pertamina has formed two units to manage the Cepu block with US major ExxonMobil, according to the Jakarta Post. A special subsidiary, PT Pertamina Cepu, which will report to the company’s exploration and production division, has been established to manage the block, spokesman Mochamad Harun...

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MALAYSIA: Petronas to build new oil and gas terminal in port in East Malaysia

(EnergyAsia, September 21) — Malaysian state energy company Petronas will construct a new oil and gas terminal in Kimanis, about 50 km from the East Malaysian town of Kota Kinabalu to receive and transfer crude oil and natural gas from the deepwater oil and gas fields in the state, according to Bernama news agency.  ...

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MALAYSIA: Renewable energy adoption remains slow

(EnergyAsia, September 21) — The development of renewable energy in Malaysia is moving at a slow pace despite various initiatives taken by the government, reported Bernama news agency citing Energy, Water and Communications Minister Lim Keng Yaik.   Schemes such the Small Renewable Energy Power Programme (SREP), the Malaysian Industrial Energy Efficient Improvement Project (MIEEIP)...

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