(EnergyAsia, September 2) — SUEZ LNG Trading SA, a subsidiary of SUEZ Energy International, formerly Tractebel Electricity and Gas International, said it has signed a 20-year sales and purchase agreement with Yemen LNG for the purchase of approximately 2.5 million tons of LNG per year. Most of the cargoes will be destined for North...
(EnergyAsia, September 2) — Caltex Australia said it the threat to fuel supplies for Queensland from proposed industrial action by production operators at the company’s Lytton refinery in Brisbane has been averted following agreement by the operators to lift the threat of industrial action. At a hearing in the Australian Industrial Relations Commission in Brisbane...
(EnergyAsia, September 2) — Bangladesh’s fuel dealers and tank-lorry owners have threatened to shut down operations next week to rebut charges that they have been involved in adulterating fuels. At a press briefing last week, they issued an eight-point demand aimed at the oil companies and government to stem the country’s growing fuel contamination problems....
(EnergyAsia, September 2) — A federal judge in the US District Court for the Northern District of California has ruled against the Bush Administration and allowed a groundbreaking global warming lawsuit to proceed. The landmark decision is the first time that a federal court has specifically granted legal standing for a lawsuit exclusively alleging injury from...
(EnergyAsia, September 2) — Korea’s SK Corporation said it and its partners Hunt Oil Company and Total have received approval from the Yemen government for the construction of an LNG liquefaction plant at Yemen’s Gulf of Aden. The partners have reached a final investment decision on the development plan for an integrated project that will...
(EnergyAsia, September 2) — MayBan Securities has placed a ‘buy’ rating on Malaysian process industry company KNM Group Berhad after its second quarter financial performance came within expectations. MayBan said: “Despite a 2% quarter-on-quarter decline in turnover, second quarter net profit was boosted by lower effective tax rate of 21.9% and higher contributions from...
(EnergyAsia, September 2) — Steps taken by the US government to address the oil market disruptions caused by Hurricane Katrina will only have limited impact on recent price increases, said Eurasia Group’s director of global energy, Antoine Halff. These steps include an offer to make oil available from the strategic petroleum reserve (SPR) and...
(EnergyAsia, September 2) — Philippines President Arroyo will seek Saudi Arabia’s commitment to continue supplying crude oil to the Philippines at a “special” price when she visits the world’s largest oil exporting country this month, Energy Secretary Raphael Lotilla said. While in the kingdom, she will also discuss with Saudi leader King Abdullah and...
(EnergyAsia, September 2) — Saudi Arabia’s SABIC affiliate Eastern Petrochemical Company (SHARQ) has signed a letter of intent to award contracts to engineering firm Foster Wheeler to construct utility offsite facilities within its expansion project III. Mohamed Al-Mady, SABIC vice chairman and CEO said: “SHARQ’s expansion project will add a total of 2.8 million metric...
(EnergyAsia, September 1) — Reliance Industries’ plans to double capacity at its Jamnagar refinery to 1.2 million b/d is a huge boost for stretched global refining capacities, signalling a clear recovery in the refining industry, analysts said. The shortage of global refining capacity after years of under-investment has helped crude oil prices break through...
(EnergyAsia, September 1) — India’s downstream state oil marketers could lose as much as Rs400 billion in the current financial year to March 31 2006 selling oil products to domestic consumers at subsidised rates. Petroleum Minister Mani Shankar Aiyar, told Financial Express that the state marketers are in danger of being unable to proceed...
(EnergyAsia, September 1) — The most destructive hurricane to hit the US in decades may have pushed the oil market decisively into a new bullish phase with dangerous implications for the world economy. With complete ease, New York crude futures surged more than US$4.60 to hit a record US$70.80 a barrel on August 29 following...
(EnergyAsia, September 1) — MayBan Securities has placed a ‘buy’ rating on Malaysia’s Petronas Gas after the company announced results that came in within expectations. MayBan said: “There were no surprises in PGas’ earnings performance. The significant increase in quarter-on-quarter and year-on-year turnover and earnings were mainly due to: 1. Impact from the...
(EnergyAsia, September 1) — Indonesian state energy company Pertamina has won a decision from a Singapore appeal court confirming an earlier ruling to penalise US power company Karaha Bodas Company (KBC) for seizing its assets. The two companies have been battling in various international courts for several years following Indonesia’s decision to cancel a geothermal...
(EnergyAsia, September 1) — Dutch energy logistics company Royal Vopak generated net turnover of 326.2 million, down from 322 million Euro for the same period last year, which included the sale of businesses that earned 14 million Euro. After adjusting for an adverse currency translation effect of 3.8 million Euro and discontinued activities, Vopak said...
(EnergyAsia, September 1) — China’s annual consumption of natural gas is expected to reach 100 billion cubic metres sometime during the country’s 11th Five-Year Plan between 2006 and 2010. According to the China Securities Journal, China now consumes 40 billion cubic metres natural gas. Gas accounts for just three per cent of the country’s energy...
(EnergyAsia, September 1) — Singapore Technologies Marine Ltd (ST Marine), the marine arm of Singapore Technologies Engineering Ltd, said its US operations, VT Halter Marine Inc., has secured a contract to build four more articulated tug barge (ATB) units for Crowley Maritime Corp’s subsidiary, Vessel Management Services Inc. The vessels, which include the cost of...
(EnergyAsia, September 1 –Ð Singapore-listed Ezra Holdings Ltd said it is building two new 12,000 brake horse power (bhp) multi-purpose anchor handling, towing and supply vessels (AHTS) for almost US$40 million, excluding the cost of certain owner-furnished equipment. (US$1-S$1.65). The AHTS vessels, to be delivered in the financial year ending August 31 2007, will...
(EnergyAsia, September 1) — Petronas together with upstream subsidiary Petronas Carigali Sdn Bhd and Sarawak Shell Bhd recently concluded a gas sales agreement (GSA) with Malaysia LNG Sdn Bhd (MLNG) for the supply of up to 400.4 trillion btu of gas to the MLNG plant until 2020. The agreement effectively extends a similar earlier...