(EnergyAsia, September 14) — Oman’s first half oil and gas exports fell 1% to 129,597,300 barrels from the same period last year, reported the Oman News Agency (ONA).   Citing the National Economy Ministry, ONA reported that Oman’s total production of crude oil and condensate for the first half reached 140,129,300 barrels compared with 142,557,000...

(EnergyAsia, September 14)  — Howard Pang, a former executive with Vopak Singapore, has joined Horizon Terminals Management Pte Ltd as commercial manager.   Horizon is building an oil storage terminal on Jurong Island. In the first phase, it will build 27 tanks with a capacity to store 720,000 cubic metres of liquid petroleum products, with seven...

(EnergyAsia, September 14) — Greenland, one of the world’s largest and least inhabited land mass, was the focus of two recent important investigations on the impact of global warming on the planet. In both, officials, scientists and journalists found that increased warming had accelerated the melting of giant icebergs in Greenland over the past decade,...

(EnergyAsia, September 14) — Keppel FELS Limited (Keppel FELS) and J. Ray McDermott, S.A. (J Ray) a subsidiary of McDermott International Inc, said they are in the process of forming an equal joint venture company, to be named FloaTEC, LLC, to provide deepwater and ultra deepwater oil and gas development solutions.   The two companies...

(EnergyAsia, September 13) — Despite their dynamic economies, many developing Asia Pacific countries have failed to achieve their United Nations Millennium Development Goals (MDGs), said a new report from the ADB, UN Development Programme (UNDP) and UN Economic and Social Commission for Asia and the Pacific (UNESCAP). “This region has made rapid progress towards many...

(EnergyAsia, September 13) — Four UAE companies are among several international corporations which have expressed interest in buying a 51% stake in Pakistan’s largest oil distribution and importing company Pakistan State Oil (PSO). The emirate companies are Abraaj Capital Limited, Abu Dhabi Group, PAL Group of Companies and Al Ghurair Investment LLC.   According to...

(EnergyAsia, September 13) — Australia’s Origin Energy said it has entered into an agreement with Anglo Coal (Moura) Limited and Mitsui Moura Investment Pty Ltd for the sale of its interests in the Moura CSG field for A$22 million in cash. (US$1=A$1.32). The sale is subject to government approval and, where applicable, the pre-emptive rights...

(EnergyAsia, September 13) — Australian upstream company Antares Energy has agreed to participate in the drilling of a deep gas prospect in Wharton County, Texas in the US to earn a 25% working interest. The prospect is a 5,030 metres test of two lower Wilcox sands, with a combined reserve potential of 85 billion cubic...

(EnergyAsia, September 13) — A New Zealand business group has issued a statement welcoming the government’s plan to set targets for biofuels production and use. The New Zealand Business Council for Sustainable Development said that Wellington’s “first small steps towards a biofuels target” are to be welcomed at a time when gasoline and diesel prices...

(EnergyAsia, September 13) — The South Korean government has agreed to release a total of 2.88 million barrels of crude oil over a 30-day period to help international efforts to stabilise world market. The government is acting in concert with other countries in keeping with a plan by the International Energy Agency (IEA) to soothe...

(EnergyAsia, September 13) — Taiwan’s Chinese Petroleum Corp (CPC) is under pressure to raise fuel prices as world oil prices hit record high, said Minister of Economic Affairs Ho Mei-yueh. World oil futures prices recently reached a record US$70.85 a barrel on fears that Hurricane Katrina has permanently damaged oil production, refining and logistic infrastructure...

(EnergyAsia, September 13) — With oil prices rising to record high levels every few weeks, the Thai government is considering new ways to curb the country’s appetite for gasoline and diesel. Last week, oil companies raised fuel prices at the pumps by another 0.4 baht a litre, pushing premium gasoline to 27.34 baht per litre,...

(EnergyAsia, September 13) — Japan has dismissed talks that it will release its domestic strategic petroleum reserves (SPR) to check rising domestic fuel prices.   Kyodo news agency quoted economy minister Shoichi Nakagawa as saying that Japan is “not in a panic.” He also rejected suggestions that the government look at lowering tariffs on oil...

(EnergyAsia, September 13) — Malaysia’s Boustead Petroleum Sdn Bhd (BPSB), a unit of Boustead Holdings Bhd, plans to borrow RM340 million to help pay for the downstream assets and business of BP Malaysia Sdn Bhd, reported the Business Times. (US$1=RM3.75). BPSB said it would take up a RM120 million loan from investment bank CIMB Bhd...

(EnergyAsia, September 12) — Hong Kong-based commodities trade Noble Group Limited said the syndication for its US$500 million revolving credit facility has been successfully closed with an oversubscription. Proceeds from the facility will be used to finance the general working capital of the group. The facility was initially launched at US$400 million and was well...

(EnergyAsia, September 9) — New Zealand is looking into plans to introduce car-less days, reduce speed limits and, as a last resort, ration fuel under emergency measures in case of a global oil crisis, said the Economic Development Ministry. The ministry is studying the proposals outlined in a report to help the country cope with...

(EnergyAsia, September 12) — Canadian financial institution CIBC World Markets said West Texas Intermediate crude oil prices will reach or exceed US$100 per barrel by the fourth quarter of 2007.             It forecasts WTI price to average US$84 next year compared with US$65 per barrel this year. In 2007, WTI will average US$97.             In...

(EnergyAsia, September 12) — India’s Ammana Bio Pharma Limited, a major supplier of ethanol to local oil companies like IOC, BPCL, RIL and HPCL, said it is building the country’s first ethanol unit. The plant will use sorghum crop as its feedstock. The company’s executive director, B.K.Murthy, told Financial Express: “Our total investment in the...

(EnergyAsia, September 12) — Taiwan is unlikely to meet by its economic growth target of 4% this year on the back of soaring international oil price and the depreciation of the local currency against the US dollar, said think tank Taiwan Institute of Economic Research (TIER). (US$1=NT32).   The weaker currency, however, will help boost...

(EnergyAsia, September 12) — The Philippines government said it is pushing ahead to develop alternative energy sources with biofuels occupying a high priority as oil price climbed to record levels recently.   According to the official PIA press, President Arroyo wants to promote and develop ethanol, which is produced from fermented and distilled crops like...

(EnergyAsia, September 12) — Contrary to analysis that says meteorological risk now trumps political risk, meteorological risk actually compounds political risk, according to US consultants Eurasia Group.   With the tightening of oil, gas and distillate markets following Hurricane Katrina’s disruption of US production and refining capacity, the possible impact of other events that could...

(EnergyAsia, September 12) — Hong Kong-listed Huaneng Power International, Inc said it has obtained the central government’s approval to reconstruct and expand the Shandong Huaneng Xindian Power Plant also known as Xindian Power Plant Phase III. The company said the approval came from the National Development and Reform Commission. The RMB2.47 billion project comprises the...

(EnergyAsia, September 12) — Finance leaders of the 21-member Asia Pacific Economic Cooperation (APEC) forum who met in Korea over the weekend said they want increased policy coordination between oil producing and consuming states to curb surging oil prices. Their statement also called for greater currency rate flexibility “to resolve global imbalances,” according to Yonhap...

(EnergyAsia, September 12) — As the US copes with the devastation and tragedy caused by Hurricane Katrina, the lessons learned from Oil ShockWave and the mission of Securing America’s Future Energy (SAFE) appear even more relevant and critical. Oil ShockWave demonstrated that taking even a small amount of oil off the market could cause prices...

(EnergyAsia, September 9) — Indonesian President Susilo Bambang Yudhoyono last week inaugurated a new oil refinery in Balongan, Indramayu, West Java province. The 52,000 barrels/day refinery will boost the country’s oil products supply at a time of rising demand, reported Antara news agency.   Mr Susilo said the refinery could help reduce expenses on imports...