(EnergyAsia, April 4) — China’s refining capacity growth is key to the future outlook for East Asia’s oil products supply/demand balance, according to a recent study by the Institute of Energy Economics of Japan (IEEJ). The study, written by senior economists Hidehiro Unoki and Toshihide Ohnuma, looks at scenarios through 2015 and 2030. It...
(EnergyAsia, April 4) — State-owned downstream company state Indian Oil Corporation Ltd said it has for the first time included the acquisition of exploration and production assets and commercialisation of product formulations as part of its Memorandum of Understanding (MoU) with the Indian government for the year 2006-07. The company said this is in...
(EnergyAsia, April 4) — Singapore-listed China Aviation Oil Limited has announced the completion of its restructuring plan which included the appointment of a new board of directors. The new board comprises Lim Jit Poh as independent chairman, Zhao Shousen, Yang Chuan, Meng Fanqiu, Wu Shen Kong and Ian Springett as non-executive directors, Mrs Lee...
(EnergyAsia, April 4) —- Singapore-listed upstream company Interra Resources Limited said it has made “significant” prospects and leads in Myanmar through its 60%-owned Goldpetrol JOC Inc. In turn, Goldpetrol has a 100% interest in two improved petroleum recovery (IPR) contracts with the Myanma Oil and Gas Enterprise (MOGE) in the Yenangyang and Chauk oil...
(EnergyAsia, April 4) — Singapore-listed China Aviation Oil Limited has announced the completion of its restructuring plan which included the appointment of a new board of directors. The new board comprises Lim Jit Poh as independent chairman, Zhao Shousen, Yang Chuan, Meng Fanqiu, Wu Shen Kong and Ian Springett as non-executive directors, Mrs Lee...
(EnergyAsia, April 4) —Indian oil refiners are preparing for a massive capacity expansion through new builds, upgrades and debottlenecking over the next few years. According to Petroleum Ministry report, the country’s domestic refining capacity of 133 million tonnes (2.68 million barrels per day) will rise to 154 million tonnes next year and 210 million...
(EnergyAsia, April 4) — Australia has agreed to supply uranium to China in two landmark agreements signed in Canberra yesterday by the countries’ two foreign ministers. The agreements over nuclear transfer and nuclear cooperation was signed by Alexander Downer and Li Zhaoxing following a meeting between visiting Chinese Premier Wen Jiabao and Australian Prime Minister...
(EnergyAsia, April 3) — Singapore’s KS Energy Services Limited said its joint venture with Tat Hong Holdings Ltd, Global Oilfield Services Pte Ltd, has been incorporated in Singapore. Global Oilfield is now an associated company of KS Energy. Listed on the Singapore Exchange in August 1999, KS Energy is an energy services group catering...
(EnergyAsia, April 3) — Singapore’s Keppel FELS Ltd said it has secured a second order for a KFELS B Class jackup rig valued at US$184 million from Jindal Group based in India. The agreement with Jindal Pipes Limited includes the design, engineering and construction of the rig as well as costs in getting the rig...
(EnergyAsia, April 3) — As world oil prices appear ready again to rise to record levels this quarter, an International Monetary Fund (IMF) working paper has called for raising interest rate and tighter monetary policy to check the inflationary effects of a possible oil crisis. The paper, “World Crude Oil Markets: Monetary Policy and the...
(EnergyAsia, April 3) — Malaysia’s Scomi Engineering Bhd, a subsidiary of Scomi Group Bhd, said it has received another major order from Saudi Aramco for the supply of oil country tubular goods (OCTG). The order was awarded to Scomi Engineering’s Singapore machine shop unit, OMS Oilfield Services Pte Ltd. The order is for the supply...
(EnergyAsia, April 3) — Hong Kong-listed China Oilfield Services Limited (COSL), a leading oilfield services provider for offshore China, said its 2005 net profit jumped 17% to RMB821 million on revenue of RMB4.79 billion, which was up 25.2% from 2004. (US$1=RMB8.02). COSL said its four business segments, drilling services, well services, marine support and transportation...
(EnergyAsia, April 3) — Woodside Energy Ltd., a wholly owned subsidiary of Australian upstream company Woodside Petroleum Ltd, said it has approved capital expenditure for its share of the first phase of the Vincent oil field development, off North West Cape in Western Australia. The project’s first phase is expected to cost US$720 million. ...
(EnergyAsia, April 3) — The panel appointed to consider the environmental effects of the proposed Mortlake power station in Australia has ended its public hearing in Mortlake. Origin Energy Limited has proposed to build a high-efficiency, natural gas-fired power station near Mortlake. Appointed by Planning Panels Victoria, a branch of the Victorian Department of Sustainability...
(EnergyAsia, April 3) — UAE-based oil and gas company Aabar Petroleum has advanced its plan to buy a stake in Singapore-based Pearl Energy with an unscheduled offer for 214,200,016 shares at S$1.95 a share. (US$1=S$1.6). Earlier this year, Aabar had entered into an option agreement to buy a 48% stake from Pearl’s main shareholder,...
(EnergyAsia, April 3) — The year 2005 was the hottest on record, said Earth Policy. The average global surface temperature of 14.77 degrees Celsius (58.6 degrees Fahrenheit) was the highest since recordkeeping began in 1880. January, April, September, and October of 2005 were the hottest of those months on record, while March, June, and November were...
(EnergyAsia, April 3) — NYSE-listed Emerson said it has acquired Bristol Babcock from FKI plc (LSE: FKI) of Loughborough, England, for $121 million. To be renamed Bristol, it becomes part of Emerson Process Management and adds industry-leading measurement and control products, technologies, and services for oil, gas, power, water, and wastewater industries worldwide. Headquartered...