(EnergyAsia, October 24) — As New York oil futures dipped below US$60 a barrel on October 21 for the first time in three months, there were signs that consumers around the world finally had it with high oil prices. In the all-important US market, motorists have begun cutting back on driving and even shopping. There...

(EnergyAsia. October 24) — The inaugural staging of PS Middle East (PSME) 2005 to showcase engineering equipment and services represents a modest yet significant event at the Bahrain International Exhibition Centre (BIEC) in Manama from November 14 to 16 2005.   In support of HQ Link’s venture into the Middle Eastern market, Bahrain Convention &...

(EnergyAsia, October 24) — Canada is stepping up efforts to court China as it seeks to reduce its reliance on the US amid worsening trade ties between the two North American neighbours.             Canadian Natural Resources Minister John McCallum has made a high-profile visit to China to discuss increasing energy exports to the fast-expanding superpower....

(EnergyAsia, October 24) — Europe is keen to buy biodiesel made from palm oil in Malaysia, said Malaysia Plantation Enterprises and Commodities Minister Peter Chin following his recent visit to the continent. Mr China led a Malaysian business and technical delegation on an 11-day visit to France, Italy and Germany to market palmoil biodiesel. He...

(EnergyAsia, October 24) — Australia’s oil industry should help the government in its campaign to raise the national consumption of biofuels to 350 million litres a year by 2010, said Prime Minister John Howard. That is a modest figure as it would represent less than 1% of the country’s total gasoline use by then. Mr...

(EnergyAsia, October 24) — Vietnam’s key industries have reported a sharp drop in profits, the result of higher fuel price since the start of the year, said the Finance Ministry in a special report on the impact of rising oil prices on the economy.   According to Vietnam News Service, Hanoi raised domestic fuel prices...

(EnergyAsia, October 24) — The share prices of China’s three main oil companies offer upside after sliding off 52-week highs in the sell-off of the last two months, according to research house Hong Kong and Shanghai Bank (HSBC). China’s economic outlook remains strong and its latest five-year plan to 2010 announced last month will continue...

(EnergyAsia, October 24) — India’s Naturol Bioenergy Limited (NBL) will build an integrated oleo bio-technology facility in Kakinada, Andhra Pradesh state, the Business Standard reported.   The 300-tonne/day facility will export its entire output when it starts up in October 2006. Naturol’s project is based on the Brazilian model as Brazil has been very successful...

(EnergyAsia, October 15) — Japan has decided to extend measures to free up strategic petroleum reserves (SPR) oil reserves held by the country’s private sector for a further 30 days, through to November 5, the Japan Times reported.   As part of an International Energy Agency (IEA)-led effort to relieve the pressure on global oil...

(EnergyAsia, October 24) — Chinaoil, the trading arm of PetroChina, has signed a deal with the Korea National Oil Corp. (KNOC) to lease crude oil storage space in South Korea.   According to Korean media, the deal is valid for one year and involves 2.7 million barrels in storage capacity. South Korea has the right...

(EnergyAsia, October 21) — Aggreko plc, a global leader in the rental of power generation and temperature control services, said it has been contracted by Singapore’s Hock Cheong Electric Pte Ltd to supply an 8 MW / 20 kV gas generator package at the Batamindo Industrial Park on Batam Island, Indonesia. This is the first...

(EnegeryAsia, October 21) — Calgary, Alberta-based PetroKazakhstan Inc said its shareholders have approved a proposed plan by a subsidiary of China’s CNPC International Ltd to acquire all the issued and outstanding common shares of PetroKazakhstan for US$55 in cash per share. The transaction was approved by over 99% of the votes cast by shareholders voting...

(EnergyAsia, October 21) — Invensys Process Systems has been selected to provide advanced Supervisory Control and Data Acquisition (SCADA) for the Yanjiang oil pipeline, the longest crude oil pipeline in China. Invensys said the new automation project is based on the I/A Series SCADA Master Station from Foxboro and includes SCD5200 RTUs from Foxboro and...

(EnergyAsia, October 21) — Mining ministers from the 21-member Asia-Pacific Economic Cooperation (APEC) group met yesterday in Gyeongju, South Korea to confront several challenges relating to current global minerals’ demand and the environmental sustainability of the mining sector.             Bong-Hyeon Joo, director general for Energy Resources Policy in Korea’s Ministry of Commerce, Industry and Energy,...

(EnergyAsia, October 21) — The government of Kazakhstan said it plans to increase state participation and ownership in domestic oil refineries, said Prime Minister Daniyal Akhmetov at Parliament’s Majilis plenary session on oil prices stabilisation.   He also announced a ban of gasoline exports, with the Ministry of Energy and Mineral Resources, KazMunaiGaz JSC, to...

(EnergyAsia, October 21) — Finaland’s W’rtsil’ Corp said it was recently awarded a contract to supply a 4.3MW black-start generating set to Shanghai Zhadian Gas Turbine Generation Co of China. The set, powered by a 12-cylinder W’rtsil’ 32 diesel engine, is due to be handed over next June.   Black-start generating sets provide valuable insurance...

(EnergyAsia, October 21) — Singapore-based Union Lab Inspection Pte Ltd, a specialist in oil inspection, has started up operations under Leslie Pereira, a 30-year veteran in oil inspection and blending operations. Mr Pereira is supported by a team of six trained and experienced surveyors with access to the resources and laboratory testing facilities of sister company...

(EnergyAsia, October 21) — Two years after its inception, the Community Development Carbon Fund (CDCF) Ð a World Bank fund sponsoring the reduction of greenhouse gas emissions in developing countries Ð has for the first time received official emission certificates for a project under the provisions of the Kyoto protocol. This was in recognition of...

(EnergyAsia October 21) — NASDAQ-listed China Energy Savings Technology Inc (CESV), a leading provider of energy saving products in China, said it has entered into a Letter of Intent with Beijing Zhongmei Chengxin Technology Ltd to develop thermo-photovoltaic cell technology. Beijing Zhongmei developed this high-end nano technology, which has been patented in China and international...

(EnergyAsia, October 21) — With September’s daily average volumes at 815,000 tonnes a day, the European Climate Exchange (ECX) said its share of the exchange-traded emissions market has grown to 83% from 70% previously. ECX total market share, including over-the-counter trades, climbed to 35% from 32%.   Volumes in October have continued to break through...

(EnergyAsia, October 20) — Energy ministers at the seventh Asia-Pacific Economic Cooperation (APEC) meeting in Gyeongju, Korea this week have issued a statement pledging to seek solutions to alleviate pressure on the regional economy caused by sustained high energy prices.             While APEC energy ministers usually meet every two years, the statement said this second...

(EnergyAsia, October 20) — Australia’s Origin Energy Resources Limited said it has it has received an updated schedule for the completion of repairs to the offshore accommodation vessel, “Safe Concordia”, for use in the Bass Straits gas (BassGas) development project. Origin is the operator for the BassGas project. Origin said the revised schedule of repairs...

(EnergyAsia, October 20) — Australia’s grain growers want oil companies to use 200 million litres of ethanol by end 2007 to ease the pressure on rising gasoline prices.             According to Seven News, the opposition Labour Party has demanded that the federal government dip into its bumper A$13.6 billion surplus to give Australians income tax...

(EnergyAsia, October 20) — In striving to meet the Kyoto Protocol’s targets, governments in Europe and Southeast Asia are encouraging the use of biomass as fuel or biofuel in transport and electricity. Biofuels are mostly carbon neutral, and switching from fossil fuels to biodiesel is promoted as a solution to climate change.   But environmental...

(EnergyAsia, October 20) — Thailand and its neighbours could become the regional centre to produce biofuels to meet rising Asia’s energy demand, said Energy Minister Viset Choopiban.   Speaking at a workshop organised by the Ayerawaddy-Chao Phraya-Mekong Economic Co-operation Strategy (ACMECS) group, he said Thailand, Burma, Cambodia, Laos and Vietnam can produce crops for biofuels...