(EnergyAsia, October 13) — Indian upstream company ONGC Videsh Limited (OVL) has been named the sole award winner and operator for Block 127 in Phu Khanh Basin with 100% participating interest and operator ship. The basin is an undrilled deepwater basin with more than 14,000 km of 2D seismic data already acquired. Many leads...
(EnergyAsia, October 13) — State upstream company Oil and Natural Gas Corporation (ONGC) said it expects to develop wind power and biofuels within two years to complement its fossil fuels portfolio. “We are É finalising plans for setting up two wind farms in Tamil Nadu and Gujarat (states) with a capacity of 120-125 MW...
(EnergyAsia, October 13) — US-based Alliant Energy Corporation said it is “taking positive steps” toward selling off its interests in all 10 of its power facilities in China. Deals have been negotiated for four of 10 power plants in which Alliant Energy has investments. In a statement, the company said: “One deal has been...
(EnergyAsia, October 13) — Naanovo Energy Inc, a Swedish energy technology company, said it will invest US$650 million to build three waste-fired power plants in Vietnam. A company official, Le Lien, said it will soon begin building the first plant in Thanh Hoa at a cost of more than $48 million. The plant, which...
(EnergyAsia, October 13) — The sale and use of biofuel Ð a mixture of 5% processed palm oil and 95% diesel Ð will be made mandatory in 2008, reported The Star newspaper. The move will be implemented after the Biofuel Bill is tabled and passed by Parliament next year. Plantation Industries and Commodities Minister...
(EnergyAsia, October 12) — Australian upstream company Origin Energy Resources Limited said it is aware of “speculation” in the media in relation to reports that an offshore accommodation vessel, the Safe Concordia, in the Bass Straits gas (BassGas) project has departed Melbourne to Singapore for repairs. The company is the operator of the BassGas joint...
(EnergyAsia, October 12) — Indonesian oil drilling contractor PT Apexindo Pratama Duta Tbk said it has successfully concluded its first rights issue in 2005 as planned, raising Rp 460.7 billion. (US$1=Rp10,000). “We are satisfied that the rights issue was completed smoothly and on schedule despite domestic uncertainties, namely the rise in fuel prices and...
(EnergyAsia, October 12) — China’s oil sector is expected to produce oil at a level of about 180 million tonne/year through 2025, Xinhuanet reported. The forecast is based on the third general survey of national oil and gas resources by the National Development and Reform Commission (NDRC) recently, said Zhang Guobao, vice chairman of...
(EnergyAsia, October 12) — Kulim (Malaysia) Bhd said it is in talks with European companies to build an export-oriented biodiesel plant in Malaysia. Managing director Ahamad Mohamad told The Edge newspaper that the company had been approached to produce biofuel on a joint-venture basis or to supply the raw material to international companies, mostly from...
(EnergyAsia, October 12) — China’s oil major Sinopec is planning to build a 100,000 cubic metre oil storage depot in Suzhou, Jiangsu province, Interfax reported. The total investment will likely come to close to US$10 million. However, the project is still at a preliminary stage and officials did not disclose a timeline for completion....
(EnergyAsia, October 12) — Gas Authority of India Limited (GAIL) said it is interested to invest in exploration and production ventures and LNG projects in Australia. The company expressed its interest to Geoff Gallop, Premier of Western Australia state during his visit to the head office of the Indian state-owned company last week. Premier...
(EnergAsia, October 12) — World oil supply declined by 845,000 b/d in September to 83.8 million b/d, said the Paris-based International Energy Agency (IEA) in its monthly report. Hurricanes have shuttered 1.2 million b/d of US Gulf crude production, prompting 300,000 to 400,000 b/d downward revisions to non-OPEC supply for 2005 and 2006. Non-OPEC...
(EnergyAsia, October 12) — Australia’s Woodside Energy Ltd, operator of the North West Shelf Venture, said its the fourth liquefied natural gas (LNG) processing train at the Karratha gas plant in Western Australia has resumed production. The re-start of LNG4, which was shutdown on August 28, follows the successful completion of repairs to the...
(EnergyAsia, October 12) — PetroChina, China’s largest oil and gas producer, plans to invest some US$12.3 billion to expand its oil and gas pipelines by 15,000 kilometres over the next five years, Xinhuanet reported. The new pipelines will be concentrated in the southwestern, northwestern and northeastern parts of China. PetroChina also seeks to...
(EnergyAsia, October 12) — Oil and Natural Gas Corp (ONGC) affiliate Mangalore Refinery and Petrochemicals Ltd (MRPL) plans to increase capacity at its refinery to 15 million tonne/year, and the company is also looking at two grassroots refinery projects, Indian news media reported. According to Infraline, MRPL’s current refinery output stands at some 12...
(EnergyAsia, October 11) — Caltex Australia Limited has welcomed the approval by the Environment Minister of Caltex’s application for a short term variation to the Australian government’s clean fuel standards that apply from January 1 2006. Caltex said that the variation is part of a plan to ensure certainty of supply to its customers. Caltex...
(EnergyAsia, October 11) — Greenpeace has called for an Asian clean energy revolution with the launch of its upcoming ship tour aboard its flagship, the Rainbow Warrior. The environmental group said urgent action is needed to tackle global warming. “Asia is on the climate change front line: the impacts are already here devastating our environment,...
(EnergyAsia, October 11) — Germany’s BASF and Japan’s JGC Corp are jointly developing a new technology for removing and storing the carbon dioxide (CO2) contained in natural gas. The cooperation aims to develop a process that will shave some 20% off the cost of traditional methods, said BASF. Set up for an expected term...
(EnergyAsia, October 11) — The International Air Transport Association (IATA) announced that international passenger grew 8.3% and international freight traffic 3.6% in the first eight months of the year. However, year-on-year comparisons for August showed slower growth than for the previous seven months for international passenger and cargo traffic at 6.1% and 2.8% respectively. This...
(EnergyAsia, October 11) — Australia’s Beach Petroleum Limited said it has reached agreement with Tap (New Zealand) Pty Ltd and AWE New Zealand Pty Ltd in relation to a farm-in arrangement for PEP 38259, an exploration permit located in the offshore Canterbury Basin on the eastern side of New Zealand’s South Island. Under the...
(EnergyAsia, October 11) — SABIC’s affiliate, Eastern Petrochemical Company (SHARQ), recently signed three contracts with three engineering firms, Stone & Webster Limited, Foster Wheeler Energy Limited and LINDE-KCA-Dresden GMBH, for the expansion of its complex in the Jubail Industrial city in Saudi Arabia. The new project’s full capacity is expected to go on-stream by 2008....
(EnergyAsia, October 11) — China’s Guangdong province has proposed a plan for a strategic petroleum reserves (SPR) to be sited in the province, Interfax reported. The province, which experienced severe fuel shortages this summer, is proposing that SPRs be built in Huizhou, Maoming, Zhanjiang or Zhuhai. The SPRs would be part of Guangdong’s plans...
(EnergyAsia, October 11) — The run in international oil prices could add US$15 billion to China’s oil import bill this year, Xinhua reported. Oil futures prices recently rose to a record high of more than US$70, and continues to hover at around US$60-65 a barrel. According to Niu Li, an economist with the State...
(EnergyAsia, October 11) — Singapore-based KS Energy Services Limited said its 50% joint venture company, Harta Offshore & Marine Services Pte Ltd has entered into a letter of intent with an unnamed “North Asian-based national oil company” to provide and operate a floating warehouse to support its drilling operation in Indonesian waters Harta’s other owner...
(EnergyAsia, October 11) — Shanghai city is planning to set different natural gas prices for industrial and residential users, Xinhua reported. Currently, there is no price difference between natural gas for industrial users and residential users. A differentiation between end users will allow for better, more responsible gas use, planners said. As a...