(EnergyAsia, April 19) — Jurong Shipyard, a subsidiary of Singapore’s SembCorp Marine, said it has secured a rig building contract worth US$165.5 million from JackInvest I Pte Ltd for the construction of a Baker Marine Pacific Class 375 deep drilling offshore jack-up rig. Construction is expected to start next month with delivery scheduled by...
(EnergyAsia, April 19) — Thailand’s Energy Ministry has predicted that local palm oil price will rise to 160,000 litres per day this year on growing demand of the crop for biodiesel production. Deputy permanent secretary Pornchai Rujiprapa said palm-oil production would have to rise further if it is to meet the country’s biodiesel demand of...
(EnergyAsia, April 19) — Hong Kong-listed Noble Group (NOBL: SGX), a global supply chain manager of agricultural, industrial and energy products, has announced the financial closing of the first ethanol plant being built by Gateway Ethanol LLC, an ethanol project development company based in Kansas, the US. The 55-million-gallon plant located in Pratt, Kansas is...
(EnergyAsia, April 19) — Hong Kong-listed Titan Petrochemicals Group Limited (Titan) (HK 1192) said its net profit fell 24% to HK$303 million last year despite a 200% rise in turnover to HK$10,464 million. Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 60% to HK$866 million. (US$1=HK$7.78). The company’s board has recommended a final...
(EnergyAsia, April 19) — Indian engineering firm L&T said it secured an order valued at Rs3.68 billion from a major power generation company in China for supply of critical gasification equipment. L&T said it will supply three sets of gasification equipment to Datang International Power Generation Co Ltd for its coal based olefin project in...
(EnergyAsia Report, April 18) — US sciences company DuPont is the latest household name to join the fast-growing biofuels bandwagon. Already, an eclectic group of leading businessmen, celebrities, environmentalists, farmer groups and governments has climbed on board in their quest for goals as diverse as profits, energy independence, solutions to global warming and political gains....
(EnergyAsia, April 18) — Reports of another draw in US gasoline and distillate stocks in the week ending April 7 highlight the rising risks of a tight US product market this summer, said commodities trader FIMAT. Although US crude stocks edged higher on the back of exceptionally low refinery activity, global crude supply growth remains...
(EnergyAsia, April 18) — Singapore-based upstream company PEARL Energy Limited said it has completed drilling of the Berlian 1A exploration well in the Sebuku Production Sharing Contract (PSC). The drill is part of a three-well exploration program in the Makassar Straits in Indonesia. Berlian 1A was located approximately 30 kilometres northwest of the Makassar...
(EnergyAsia, April 18) — Asian Development Bank (ADB) said it has made a US$2 million grant to improve electric supply services to rural residents in Tajikistan. The grant, from ADB’s Japan Fund for Poverty Reduction, provided by the government of Japan, will establish a community-based “run-of-river” micro-hydropower supply system in six poor communities in remote...
(EnergyAsia, April 18) — Hong Kong-listed China Resources Enterprise Limited said its 2005 profits rose by 50% to a record HK$2.22 billion on a 14% rise in revenue to HK$53.6 billion. (US$1=HK$7.78). Earnings per share rose by 45% to HK102¢. The board has proposed a final dividend of HK25¢ per share. Together with the...
(EnergyAsia, April 18) — Investors expect to start construction of a 25-million-litre/year ethanol plant on The Philippines’ Mindanao island worth P1.5 billion in June. (US$1=P52). The plant in Kibawe, Bukidnon province is a joint venture of the Bronzeoak Philippines Inc. (BPI), the state-owned National Development Corporation (NDC) and three groups of Bukidnon sugar planters....
(EnergyAsia, April 18) — Qatar has taken another step towards becoming a major financial centre with the recent signing of two memoranda of understanding (MoUs) to establish the International Mercantile Exchange (IMEX) in Doha as the region’s first dedicated energy trading platform. Gulf Energy has signed a MOU each with the Qatar Financial Centre...
(EnergyAsia, April 18) — SKSWood Sdn Bhd, a joint venture led by a subsidiary of John Wood Group PLC, with Syarikat Kejuruteraan Sistematik (SKS) and Petrokon Utama Sdn Bhd has been awarded a new multi-million dollar contract by Brunei Shell Petroleum Company Snd Bhd (BSP) to design, procure, construct and install marine water injection pipelines...
(EnergyAsia, April 18) — Green Energy Resources, which supplies woodfibre fuels, biomasse and woodchips for direct energy and gasification and sawdust to reduce coal-polluting emissions, said it has renewed its initiative to buy multiple woodchip carrier ships and deliver higher volumes of environmentally certified wood biomass to China. The Huntington, New York based company...
(EnergyAsia, April 18) — CS Mutiara Petroleum Sdn Bhd, an equal joint venture company between Petronas Carigali Sdn Bhd and Shell Exploration and Production Malaysia BV, has made another gas discovery in Block PM302 off the northeast coast of Peninsular Malaysia. The Bunga Dahlia Channel-1 exploration well, located in a water depth of 67...
(EnergyAsia, April 17) — The gas recovery and utilisation work at Vietnam’s Rang Dong oil field was recently approved as a clean development mechanism (CDM Project) project under the Kyoto Protocol. Japan’s Nippon Oil Corporation which is involved in the project said this is the first CDM project to reduce carbon dioxide emissions by utilising...
(EnergyAsia, April 17) — Emerson Process Management has won an order worth $30 million for Fisher control valves to be installed at a joint venture between Qatar Petroleum and ExxonMobil for the Qatargas II LNG Plant expansion at the Ras Laffan Industrial Complex in Qatar. The expansion will add onto the existing Qatargas site....
(EnergyAsia, April 17) — Sakhalin Energy Investment Company Ltd, the operator of Russia’s first offshore oil and gas project, said Russian companies received about $1 billion worth of new contracts in 2005, or about 87% of the total amount of all new contracts awarded during the year. This brings the total value of contracts with...
(EnergyAsia, April 17) — The United Nations Industrial Development Organisation (UNIDO) and the Chinese government have begun building a major solar technology project in Lanzhou, capital of China’s Gansu province. Beijing will contribute some US$18.5 million to the project. The project aims to promote the exchange of solar technology and international cooperation among developing...
(EnergyAsia, April 17) — Two Japanese companies, Kawasaki Heavy Industries (KHI) and Lawson, recently announced renewable energy projects. Engineering firm KHI said it has received an order for the construction of a biomass methane fermentation facility from Suzu City in Ishikawa Prefecture. KHI said it will build a plant to treat organic refuse such...
(EnergyAsia, April 17) — US major Chevron Corp said it will pay $300 million to acquire a 5% stake in Reliance Petroleum Limited’s (RPL) Jamnagar export refinery in India. The agreement with Reliance Petroleum Limited (RPL), a company formed by Reliance Industries Limited, allows for Chevron the right to increase its stake to 29%. ...
(EnergyAsia, April 17) — Chinese companies have announced major investments to promote wind power in the country. State-owned China Huadian Group Corporation said it is planning to invest RMB15 billion to build the country’s largest wind farms in Xinjiang province while Hong Kong-based CLP Holdings Ltd has set aside RMB413 million to jointly build...
(EnergyAsia, April 17) — Korea’s Kkiec Co and Malaysia’s Octangon Co have entered into a joint venture to build a waste tyre energy plant in Malaysia’s Selangor state. In a statement, Korea’s ministry of industry and energy said the technology developed by Kkiec will be used in the plant to transform 120 tons of...
(EnergyAsia, April 17) — Indonesia and Japan are teaming up to promote the development and use of biomass energy. The Indonesian climate and soil are very suited to producing biomass products, said Haruhiko Ando, a director of Japan’s Global Energy and Fuel Cell Policy, at a recent seminar in Jakarta. Meanwhile, Japan faces high...
(April 17) — China’s state-owned Shenhua Group and Australia’s Roaring 40s are exploring the possibility of forming a joint venture (jv) to develop wind power facilities in China worth more than US$200 million. Roaring 40s is itself a jv between Australia’s Hydro Tasmania and Hong Kong’s CLP Power Asia. Talks are underway for a...