(EnergyAsia, November 21) — India’s Petroleum Ministry has proposed to jointly establish with private companies a 10-million tonne strategic storage capacity for oil and a 15-day storage capacity for natural gas. The ministry is expected to soon submit the proposal to the finance ministry before it is sent to the Cabinet. An unnamed...
(EnergyAsia, November 21) — Indonesia, the world’s largest LNG exporter, will reduce exports by 10% next year as it faces declining gas production from aging fields in East Kalimantan and Aceh provinces, where the Arun plant is located. According to the Jakarta Post, buyers in South Korea, Taiwan and Japan have agreed to cut their...
(EnergyAsia, November 21) — Pakistan’s petroleum ministry has supported oil refiners’ demand to enhance their profit margin under a new proposed pricing formula that could lead to higher petroleum prices. According to a Daily Times report, the ministry is supporting the refiners’ call to raise their profit ceiling to compensate them for rising feedstock...
(EnergyAsia, November 21) — Following a recent board meeting, China Petroleum & Chemical Corpo or Sinopec Corp said it will privatise Sinopec Zhenhai Refining & Chemical Company Limited (ZRCC) through subsidiary Ningbo Yonglian that has been established for the purpose of the move. According to the merger agreement between Ningbo Yonglian and ZRCC, Ningbo...
(EnergyAsia, November 21) — India has about 40 million hectares of ‘wasteland’ Ð 14% of the country’s total area Ð that could be fully or partially cultivated with the oil-bearing jatropha crop. According to the Deccan Herald, the Indian government’s Vision 2020 plan states that cultivating 10 million hectares with jatropha would generate 7.5...
(EnergyAsia, November 18) — INTERTANKO said its member fleet has grown by 12.5% or 21.3 million deadweight tons to 194 million dwt. The additional tankers are owned by 15 companies, said the association which represents independent tanker owners. The two biggest owners are Frontline (13.3 million dwt) and American Eagle Tankers (6.1 million dwt)....
(EnergyAsia, November 18) — Keppel Seghers Engineering Singapore Pte Ltd (Keppel Seghers), the environmental technology division of Keppel Integrated Engineering (KIE), said it has secured a 25-year Design-Build-Own-Operate (DBOO) contract from the National Environment Agency (NEA) for Singapore’s first incineration plant to be built under the Public-Private Partnership (PPP) initiative. Located at Tuas South,...
(EnergyAsia, November 18) — The UK’s Craig Group is looking to grow its presence in Australia with a new partnership agreement. The global shipping and energy services firm is hoping to win business in the rapidly expanding offshore Australasian market, estimated to be worth $10 billion a year. International Mooring Systems (IMS), the division...
(EnergyAsia, November 18) — Australia’s largest resource development – the A$16 billion North West Shelf gas project Ð needs immediate naval protection as it is at risk of terrorist attack, said the Speaker of Western Australia state’s legislative assembly. Earlier this month, Australian police arrested 17 Muslim men they said were planning to launch terrorist...
(EnergyAsia, November 18) — The Philippine government said several state agencies, business entities, transport groups and non-government organisations have teamed up to mark November as the ‘Clean Air Month’ pursuant to Executive Order 1109. Activity started off with a motorcade around Mainla city with buses included in the 1st Regional Bus Painting Contest joining...
(EnergyAsia, November 18) — Ezra Holdings Ltd, a Singapore-based offshore support and marine services provider, said it has secured charter contracts worth at least US$57.6 million (S$98 million) for seven vessels under its fleet. Ezra said it has secured a 3-year extension of the charter from SKS Wood Sdn Bhd for its heavy lift...
(EnergyAsia, November 18) — In a joint statement issued at the conclusion of an inauguration ceremony held in Doha early this week, Qatar Petroleum and ExxonMobil Ras Laffan (III) Limited, a wholly owned subsidiary of Exxon Mobil Corp, announced the launch of Ras Laffan Liquefied Natural Gas Company Limited (RL3). RL3 is a further...
(EnergyAsia, November 16) — The joint venture company of Belgium’s Katoen Natie and Singapore’s SembCorp Logistics will invest another S$20 million to expand their existing facility on Jurong Island. Katoen Natie SembCorp (KNS) said it is developing phase two in response to the more than 90% occupancy rate of the present terminal and the expected...
(EnergyA, November 18) — Finland’s W’rtsil’ Corporation said it was awarded a contract by Yantai Raffles Shipyard in China to supply the main engines, thrusters and associated ancillary equipment for the new offshore semi-submersible platform “ORS Pioneer”. W’rtsil’ will deliver six W’rtsil’ 32 diesel engines and motor-driven steerable thrusters together with various ancillary equipment....
(EnergyAsia, November 18) — The Chinese Research Academy of Environmental Sciences (CRAES) has launched its first independent engine test facility. Sited in Beijing, the facility, which has been established with financial and technical support from German chemical giant BASF, will monitor fuel qualities in China. BASF said the facility will also undertake research for...
(EnergyAsia, November 17) — PEARL Energy Limited, a Singapore-listed oil and gas exploration and production company focused exclusively in Southeast Asia, has reported strong gains for the third quarter of 2005, with net profits rising to a record US$7.47 million, bolstered by crude sales from the Jasmine oil field with the Gulf of Thailand and...
(EnergyAsia, November 17) — Hong Kong-listed Panva Gas Holdings Limited (Stock Code: 8132) said its January-to-September 2005 net profit rose 28.6% to HK$219 million while revenue was up 26.6% to HK$1,622million. (US$1=HK$7.78). Gross profit grew by 64.2% to approximately HK$468million. Revenue from its core wholesale liquefied petroleum gas (LPG) business edged up 1.4% to...
(EnergyAsia, November 17) — Singapore-listed China Petrotech Holdings Limited (CPHL) said it is paying a special dividend of one Singapore cent per share after announcing a “sterling” set of results for the third quarter ended September 30, including a 46% rise in net profit to RMB20.9 million. (US$1=RMB 8.07, S$1.7). Its revenue jumped 75% to...
(EnergyAsia, November 17) — Kuwait is planning to build possibly the world’s largest oil refinery with a capacity of 615,000 barrels/day, reported the state news agency KUNA. According to KUNA, Hatem Al-Awadhi, the assistant CEO of Kuwait National Petroleum Company (KNPC), said the plant would cost at least US$1.85 billion to build. The company...
(EnergyAsia, November 17) — Fresh from arresting a group of alleged would-be terrorists, Australian authorities said Caltex’s Kurnell oil refinery, the Woolwich oil terminal and Sydney Harbour Bridge remain the top targets of possible terror attacks. The 124,500 barrels per day plant is the largest refinery in New South Wales and the second largest...
(EnergyAsia, November 14) — The world market for process automation and scientific instrumentation is expected to grow from US$61.3 billion in 2000 to US$94.2 billion in 2010, with China and India being the growth engines for measurement and automation technologies. ChemAsia, InstrumentAsia, AnaLabAsia or CIA 2005, to be held in Suntec Singapore, will showcase...
(EnergyAsia, November 17) — State-owned Gas Authority of India Limited is fast-tracking its planned Ratnagiri liquefied natural gas (LNG) terminal, Infraline reported. GAIL has already put together a consortium of engineering, procurement and construction contractors to work the project. The consortium includes Aker Kvaerner and Engineers India Limited (EIL) as well as Tokyo Gas...
(EnergyAsia, November 17) — Indian Oil Corp paid out a final dividend of Rs9.58 billion, marking the 39th consecutive year it is paying out a dividend, the company said in a statement (US$1=Rs46). In total, the company said it has so far paid out dividends to its shareholders worth over Rs100 billion. Indian...
(EnergyAsia, November 17) — The Indonesian government is hoping to sign a new agreement (HoA) with Japanese buyers to extend an existing liquefied natural gas (LNG) supply contract of six million metric tons per annum that expires in 2010, according to the Jakarta Post. The pricing formula for the cargoes produced by the LNG...
(EnergyAsia, November 17) — Indian upstream company ONGC said it has signed a Memorandum of Understanding (MoU) with Coal India Ltd (CIL) to jointly develop underground coal gasification (UCG) projects. Both companies have pledged to equally invest in pilot projects culminating in the establishment of UCG stations by 2009. They have identified and shortlisted 15...