(EnergyAsia, May 22) — In spite of the recent downward trend in prices of carbon commodities in the European market, government officials, private sector brokers, traders and market specialist said the global market is starting to develop grow. James Warren Evans, the World Bank’s environment director, said the global market in carbon credits is...
(EnergyAsia, May 22) — The International Energy Agency (IEA) wants greater urgency from the New Zealand government to implement its strategic oil stockpile plans announced in March last year. On a recent visit, IEA chief Claude Mandil has expressed concern that Wellington has allowed its oil stockpile to fall to just 61 days of...
(EnergyAsia, May 22) — The Asian Development Bank (ABD) is set to approve a US$300 million for a power project in Uttaranchal state, Press Trust of India reported. The 20-year ADB loan facility would carry an interest rate of 0.6% above the London Interbank Offered Rate, or Libor. The project could add much needed...
(EnergyAsia, May 22) — India has joined 21 other countries in adopting a strategy to capture carbon dioxide emissions from power generation plants as part of an effort to reduce global warming. Carbon dioxide is a greenhouse gas responsible for causing global warming and climate change. The strategy, under the Carbon Sequestration Leadership Forum...
(EnergyAsia, May 22) — Japan is considering adding refined products including gasoline, kerosene, diesel and fuel oil to its strategic oil stockpile from 2007 while boosting crude stockpile to 95 days of consumption from 90 days previously. The product stockpile will be equal to one day of consumption. The move could provide further support...
(EnergyAsia, May 19) — Indian Oil Corporation (IOC) expects to complete a Rs900 million naphtha pipeline from its Gujarat refinery to the Dahej terminal by mid-year, the Business Standard reported. (US$1=Rs42). The product pipeline will enable IOC to export surplus naphtha from its 13.7 million tonnes per year refinery through Dahej. Currently, IOC ships...
(EnergyAsia, May 19) — Quezon 3rd District Representative Danilo E. Suarez said that the first biomass power plant in Southeast Asia that he is proposing will be constructed in the Philippines’ Bondoc Peninsula area in the Quezon Province. The 1-billion-peso plant is to be funded mostly by borrowing or aid from abroad. The 10-megawatt...
(EnergyAsia, May 19) — French engineering giant Technip said it has been awarded by BP Zhuhai Chemical Company Limited, a joint venture between BP and the Fu Hua Group, a services contract for the development of a new world-scale Purified Terephthalic Acid (PTA) plant at their site in Guangdong Province in China. The contract,...
(EnergyAsia, May 19) — Small rural communities throughout Nepal will reap the benefits of the carbon market with the recent signing of an emission reductions purchase agreement (ERPA) for the Nepal Biogas project, said the World Bank. This is the first greenhouse gas emission (GHG) reductions project in Nepal under the Clean Development Mechanism (CDM)...
(EnergyAsia, May 19) — Hydro Marine Services (HMS), a subsidiary of J. Ray McDermott, S.A. said its recently modified Intermac 650 barge has completed the launch of the largest jacket ever constructed in China. Intermac 650 was contracted to Offshore Oil Engineering Co. Ltd. (COOEC) enabling the installation of the 213m high, 25,200-ton jacket...
(EnergyAsia, May 19) — Hong Kong power company CLP said it is collaborating with leading UK wind power developer, Wind Prospect, on a feasibility study for a potential 150MW offshore wind farm off Sai Kung. Based on Wind Prospect’s pre-feasibility work, the proposed site is 7.5 km east of Clearwater Bay Peninsula and approximately...
(EnergyAsia, May 19) — Indian Oil Corp (IOC) and its marketing unit IBP will again take a financial hit as the Indian government continues to deny their request to raise pump prices while crude oil prices keep soaring. IOC alone is expected to record shortfalls of Rs22.24 billion for April (Rs44.95=US$1). Last year, the...
(EnergyAsia, May 19) — US energy major Chevron Corporation said its subsidiary has invested in a Texas-based company that is building a large-scale biodiesel plants in the country. The facility will have the potential to produce 100 million gallons per year of this clean-burning renewable fuel Ð an amount that would more than double the...
(EnergyAsia, May 19) — CSR, Australia’s biggest sugar refiner, has reported a 16.7% rise in FY2005 pre-tax income before significant items to nearly A$250 million, vindicating the decision to emphasise ethanol production. (US$1=A$1.3). Revenue rose 21.1% to A$2.87 billion. Higher sugar prices and demand for ethanol helped profits rise for the year ended March...
(EnergyAsia, May 19) — Australian Pipeline Trust (APA) said it has entered into a Heads of Agreement with the Northern Territory Government and Power and Water Corporation (PWC), establishing a framework for the development of an estimated A130 million new gas pipeline in the state. (US$1=A$1.3). The parties started negotiations following PWC’s announcement last...
(EnergyAsia, May 18) — India’s Mangalore Refinery and Petrochemicals (MRPL) has promoted general manager R. Rajamani to the position of managing director. He joined the company in 1993 as head of technical services. Singapore’s KS Energy has named Adam Paul Brunet, a UK national, as executive director with responsibility for the group’s operations and...
(EnergyAsia, May 18) — FuelCell Energy Inc, a leading US manufacturer of ultra-clean, efficient electric power plants for commercial and industrial customers, said it has extended the distribution agreement with partner Marubeni Corp to sell DFC products in Japan. Marubeni has agreed to order 6 megawatts (MW) of DFC power plants and a cash down...
(EnergyAsia, May 18) — The Energy & Power Systems Group and consultants Frost & Sullivan will host their 2006 quarterly analyst briefing on Wind Energy Technology today at 11:00 am EDT, US. Frost & Sullivan said improvements in wind turbine technology today make wind energy one of the most economically viable forms of renewable energy....
(EnergyAsia, May 18) — Vietnam’s northwestern mountain region could be developed to provide hydro-electricity to help the country cope with its rising energy needs, said the chairman of the Steering Committee for Northwestern Region Development Truong Tan Sang. At a recent conference in Hanoi focusing on the northwestern region, Mr Sang, a Politburo member...
(EnergyAsia, May 18) — The Singapore Exchange (SGX) has launched the SGX AsiaClear facility for clearing of over-the-counter (OTC) oil swaps and forward freight agreements (FFAs). The facility serving 18 OTC products was officially launched by Mrs Lim Hwee Hua, Minister of State for Finance and Transport. The service cleared its first OTC oil...
(EnergyAsia, May 18) — Sales of diesel have risen sharply in Taiwanese in the first two months of 2006, according to the Directorate General of Budget, Accounting & Statistics. Diesel sales surged 18% in contrast to slow gasoline uptake of just 1.7%. Analysts said motorists switched to using diesel after the government sharply raised...
(EnergyAsia, May 18) — China has concluded a number of business deals with Yemen, including oil exploration following last month’s visit to Beijing by President Ali Abullah Saleh. Leading a delegation of senior officials and business leaders, he met with China’s President Hu Jintao, local officials and business leaders. Marwan Abdulla Noman, Yemen’s...
(EnergyAsia, May 18) — The massive Shell-CNOOC petrochemicals joint venture (jv) project in Huizhou, Guandong province is operating smoothly after coming onstream last month. The partners invested some US$4.2 billion in the project, making it the largest joint venture project in China so far. Shell owns 50% while CNOOC has 45% and the Guangdong...
(EnergyAsia, May 18) — Russia’s Sakhalin Energy said it recently signed a full sales and purchase agreement (SPA) for LNG supply to Japan’s Tohoku Electric Power Co., Inc. The transaction calls for the supply of up to 420,000 tonnes per annum (mtpa) of LNG for a period of some 20 years, with deliveries scheduled to...
(EnergyAsia, May 18) — Malaysian steam boiler manufacturer Enco Danstoker said it has been awarded a contract to build a RM22 million biomass steam plant in Bentong town in Pahang state. The plant will supply power to the paper manufacturing operations of Pascorp Paper Industries Bhd, a subsidiary of Pahang State Economic Development Corporation. The...