(EnergyAsia, November 7) — Gulf Energy, a global consortium of leading energy consultants and major investors from the Gulf, US, Europe and Southeast Asia, has unveiled phase one of a master plan for the proposed multi-billion dollar Energy City in Qatar. It has also announced the appointment of the Bahrain-based Islamic investment bank, Gulf Finance...
(EnergyAsia, November 7) — Japan’s Environment Ministry is proposing not to impose a carbon tax on gasoline, light oil and jet fuel for now as a result of high oil prices, reported the Japan Times. An earlier plan to impose the carbon tax proved unpopular and was met with stiff from the business community and...
(EnergyAsia, November 7) — Sri Lanka President Chandrika Kumaratunga has named herself to head the new Petroleum Resources Development Ministry. She is also handling the ministries for defence, education and media. The new ministry has been set up to develop the island nation’s oil and gas potential which is attracting the interest of international...
(EnergyAsia, November 7) —Russian President Vladimir Putin has informed Shell that his government will not approve the company’s US$10 billion cost overun on the Sakhalin-2 liquefied natural gas (LNG) project, Russian business daily Kommersant reported. This could mean that Shell will not be able to revise the project’s budget to recover any cost overrun from the...
(EnergyAsia, November 7) — Asia’s largest biofuels conference, Asia Biofuels Conference & Expo, will be held on December 6-8 2005 at the Westin Philippine Plaza in Manila, Philippines. The 3rd annual conference will focus on the development of biofuels projects and connecting future producers, current producers, project developers and investors. Speakers will cover the “Complete Biofuels Cycle,” including...
(EnergyAsia, November 4) — The Siemens Industrial Solutions and Services (I&S) Group said it has been contracted by Saudi Aramco to equip 14 distribution terminals and associated tank farms with the latest version 1.4 of the “Sisog TMS” terminal management system. The new terminal management systems must be operating from early 2007. Dhahran-based Aramco is...
(EnergyAsia, November 4) — The Kupe gas development consortium said that all onshore regulatory approvals for the proposed project in New Zealand have cleared all regulatory hurdles, but the project’s capital cost has increased to NZ$800 million. (US$1=NZ$1.3). Consortium leader and operator Origin Energy Resources (Kupe) Limited said they have been granted approval by...
(EnergyAsia, November 4) — Ethanol use as a fuel will put further pressure on India’s already tight sugar markets in the coming years, the Financial Express has reported. Plans for a 5% nationwide ethanol blending mandate will mean that India’s sugar manufacturers are set for good times ahead, analysts said. Already, there are blending...
(EnergyAsia, November 4) — Singapore Airlines (SIA) said its April-to-September net profit fell 3.9% to S$578 million for the first half of financial year 2005-06 due largely to sharply higher jet fuel costs. (US$1=S$1.7). Group operating profit was $584 million, down 6.3% from last year despite achieving record operating revenue of S$6,395 million. ...
(EnergyAsia, November 4) — Naresh K. Nayyar has been appointed the first CEO of ONGC-Mittal Energy Ltd, (OMEL), the joint venture firm formed recently by Indian state upstream company Oil and Natural Gas Corp (ONGC) and Mittal Group, the world’s largest steel maker. The new firm’s role is to acquire oil and gas assets abroad....
(EnergyAsia, November 4) — Mangalore Refinery and Petrochemicals Limited (MRPL), a subsidiary of India’s state upstream company ONGC, has reported a 2% decline in its net profit for the quarter ended September 30, 2005. The company blamed its reduced profit of Rs 1.66 billion on its inability to raise retail prices under orders from the...
(EnergyAsia, November 4) — SunGard has announced the release of the version 8.0 of its PAWS decision support solution used by the oil and gas trading industry for aggregated energy market data, pre-deal decision analysis and post-deal reconciliation. PAWS 8.0 enhancements provide a redesigned futures data class, improved charts and graphs, expanded report format options,...
(EnergyAsia, November 4) — Hong Kong-listed China Oilfield Services Limited (COSL) has released its unaudited operational statistics for the nine months ended September 30. The total number of wells drilled amounted to 171, of which 131 were development wells and 40 were exploration wells. Total number of operating days during the period was 3,481 days, representing...
(EnergyAsia, November 4) — Singapore-listed Ezra Holdings Limited (Ezra) said its wholly owned subsidiary, Lewek Shipping Pte Ltd, has awarded US$26 million worth of newbuilding contracts for two vessels to Pan-United Marine Ltd. The contract value excludes the cost of certain owner-furnished equipment. This latest order comprises two 78-metre multi-purpose anchor handling, towing and supply...
(EnergyAsia, November 4) — Australian upstream company Santos Limited said the shareholders of Tipperary Corporation have voted to approve the merger agreement providing for the acquisition of Tipperary by Santos. The approval follows Santos’ announcement on July 1 2005 of the proposed acquisition, and on July 5 of Santos’ decision to accelerate the acquisition of...
(EnergyAsia, November 3) — CIGEC or China International Gas Exhibition and Conference 2005 will be held at the Shanghai Exhibition Centre on Nov 2 to 4. The event aims to facilitate deal-making by companies interested to do business in China or with Chinese companies. Mr.Chen Xiaohou, General Economist of CPP, will give...
(EnergyAsia, November 2) — The following is the opening address by Dr Yaacob Ibrahim, Singapore’s Minister for the Environment and Water Resources, at the Renewable Energies Symposium 2005 organised by the Singapore-German Chamber of Industry and Commerce. The event was attended by government officials and a visiting German business delegation, as well as Andreas Michaelis,...
(EnergyAsia, November 2) — Indonesia’s Ministry of Transportation, and Ministry of Energy and Mineral Resources have announced they will be setting up a joint committee to investigate aircraft refuelling practices at the country’s airports, according to the Jakarta Post. Transportation Minister Hatta Radjasa announced the move in response to allegations from budget carrier Batavia...
(EnergyAsia, November 2) — China Petroleum & Chemical Corp or Sinopec Corp has sold off its 40% stake in South China’s Yuehai oil tanks to Hong Kong-listed Hans Energy Co, which now becomes the sole owner of the tanks. Hans Energy owns the tanks through subsidiary Yuehai (Panyu) Petrochemical Storage and Transportation Co. Sinopec,...
(EnergyAsia, November 2) — Hong Kong-listed Huaneng Power International Inc said it suffered a 20.97% decline in net profit to RMB3.05 billion for the first nine months of 2005 despite seeing a near 36% rise in operating revenues to RMB29.126 billion. (US$1=RMB8.08). The company blamed the sharp profit drop on the rise in the...
(EnergyAsia, November 2) — Hong Kong-lised China Oilfield Services Limited (COSL), the leading integrated oilfield services provider in the offshore China market, said it has obtained shareholders’ approval for distribution of a special interim dividend was at an extraordinary general meeting (EGM) in Beijing last week. The special dividend per share is RMB1.39 cent (tax...
(EnergyAsia, November 1) — Germany’s Peter Cremer GmbH is planning a multi million dollar investment in Singapore to produce biofuels and further downstream specialty chemical derivatives. This will be Singapore’s first biodiesel plant. Cremer, a multi billion dollar family business established in Hamburg Germany in 1946 have manufacturing operations in Europe, the US and Asia....
(EnergyAsia, November 2) — The Asian Development Bank (ADB) said it will help expand the natural gas infrastructure and delivery system in Bangladesh to support the country’s economic growth through a US$230 million loan package. The $413 million project will construct four gas transmission pipelines totaling 353 km to transport about 360 million cubic feet...
(EnergyAsia, November 2) — Australia’s leading resources company has released its update on energy exploration and development activities for the quarter ended September 30 2005. During the quarter, cost reviews were completed for the Ravensthorpe and Yabulu projects in Australia. Due to the impact of demand driven tightness in the Australian labour market, rising...
(EnergyAsia, November 2) — Vietnam has licensed 657 foreign direct investment (FDI) projects with total registered capital of US$2.98 billion in the first 10 months of this year. The Ministry of Planning and Investment’s Foreign Investment Agency said the figures represent an increase of 13.5% in the number of projects and a 71.4% rise...