(EnergyAsia, May 17) — Origin Energy Resources (Kupe) Limited, as operator of the Kupe gas project in New Zealand, has awarded ‘preferred contractor’ status to Technip Oceania Pty Ltd for construction of both the onshore and offshore components of the project. This follows the announcement last month of Technip as preferred tenderer for the construction...

(EnergyAsia, May 17) — The Nasdaq Stock Market Inc (NASDAQ) (NASDAQ:NDAQ) and Clean Edge Inc have announced plans to launch the NASDAQ(R) Clean Edge(R) U.S. Index, which they described as “an innovative and powerful tool for clean- energy investing.”   Clean Edge is a leading research and publishing firm that helps companies, investors and policymakers...

(EnergyAsia, May 17) — Singapore-listed China Aviation Oil Corporation Ltd (CAO) said its first quarter net profit jumped sharply to S$342.25 million from S$11.22 million a year earlier due to a one-off waiver of debts. (US$1=S$1.56).             The company emerged from restructuring after collapsing from substantial trading lossess of more than US$550 million incurred in...

(EnergyAsia, May 17) — Singapore-based cargo transportation and logistics company Neptune Orient Lines (NOL) said high fuel costs contributed to a 39% plunge in its first quarter net profit to US$120 million. Group revenue edged up 4% to US$1.883 billion, while earnings per share was down by 39% to 8.22 cents from year-ago levels.  ...

(EnergyAsia, May 17) — The following is an extract of a commentary issued by Antoine Halff, head of energy research at Fimat USA.             Sobering oil data from the International Energy Agency Ð including fresh reports of slowing demand growth and rising OECD inventories Ð took some fizz off market expectations of continued unbridled global...

(EnergyAsia, May 17) — Australian upstream company Santos said it has acquired Woodside’s 30% interest in the offshore permit VIC/RL2, located in the Gippsland Basin off the state of Victoria.   The acquisition increases Santos’s interest in the unitised Kipper gas field project from 14% to 35% and is subject to customary government approvals. The...

(EnergyAsia, May 17) — Australian Pipeline Trust (APA) said it has concluded gas transportation arrangements that will play a significant role in extending the supply of natural gas to Tamworth and surrounding regions in New South Wales state. APA said final arrangements had been reached with Central Ranges Pipelines Pty Limited for the construction of...

(EnergyAsia, May 17) — Thailand’s state energy company PTT Plc said it will sell off part of its stake in Rayong Refinery Co (RRC) next month in line with plans to reduce its exposure to oil refining while expanding its petrochemicals portfolio. PTT, the sole owner of RRC, expects to sell off more than its...

(EnergyAsia, May 17) — South Asia LPG Company Pvt Ltd, the equal joint venture between India’s Hindustan Petroleum Corporation (HPCL) and France’s Total, has started work on a Rs3.33 billion underground cavern with a capacity to store up to 60,000 tonnes of liquefied petroleum gas (LPG). (US$1=Rs52).   The storage facility being designed by French...

(EnergyAsia, May 17) — High fuel costs dragged Singapore Airlines’ FY2005 profit down 8.3% to S$1.241 billion despite strong growth in its carriage and yields for both passenger and cargo operations. Group revenue rose 11.1% to a record S$13,341 million while fuel-driven expenditure surged 13.4% to S$1,432 million. (US$1=S$1.57).             SIA said fuel accounted for...

(EnergyAsia, May 16) — Guangdong in southern China, which has a relatively long history as a manufacturing base and relies heavily on migrant labour, was one of the first provinces to accept a capitalist system. Also known by its older name of Canton, it opened up to foreign investment in the 1980s and is the...

(EnergyAsia, May 16) — A former private secretary to Australia’s Prime Minister John Howard, Paul McClintock, will lead a team of senior business figures to advise the government on a A$500 million programme on developing renewable and low emission-technology projects. Australia is a member of the recently established Asia-Pacific Partnership on Clean Development (known as...

(EnergyAsia, May 16) — Any attempt at addressing the world’s energy and environmental needs would have to deal with the growing impact of China and India, or it cannot be regarded as serious. Last month, the government of hydrocarbon-rich Abu Dhabi named its partners in the US$100 million “Masdar Initiative” to address the challenges of...

(EnergyAsia, May 16) — UK-based BG Group said it has signed an exploration and production sharing agreement with the government of Oman for a 100% interest in and operatorship of the onshore Block 60 in the Sultanate. The block, covering almost 1,500 sq km, contains the Abu Butabul gas and condensate discovery which was made...

(EnergyAsia, May 16) — Noble Group, the Hong Kong-based energy and commodities trading firm, is expanding into the US ethanol market. The company recently closed the financing of a 55 million gallons per year ethanol project in Pratt, Kansas and is building a plant in Nebraska. From next January, it will be distributing in excess...

(EnergyAsia, May 16) — Indonesia’s PT Apexindo Pratama Duta Tbk said it has received a faxed order from Total E&P Indonesie for a drilling project in the Sisi and Nubi gas blocks in Kalimantan provinces for three years valued at around US$170 million. Apexindo said it and Total are now in the process of finalising...

(EnergyAsia, May 16) — The commentary below was written by Lester R. Brown of Washington DC-based Earth Policy. The article issued by Earth Policy was adapted from his book, Plan B 2.0: Rescuing a Planet Under Stress and a Civilization in Trouble (New York: W.W. Norton & Company, 2006), available on-line at www.earthpolicy.org/Books/PB2/index.htm. When the...

(EnergyAsia, May 16) — Oil have stayed mostly in the US$70/barrel range since late April, but Daniel Yergin, renowned author and chairman of Massachusetts-based Cambridge Energy Research Associates (CERA), does not think an oil shortage exists. In particular, he continues to attack the peak oil argument that world oil production has peaked. In a recent...

(EnergyAsia, May 16) — Singapore-listed Rotary Engineering Limited said it has signed an engineering, procurement and construction (EPC) contract worth S$41.008 million awarded by Oiltanking Singapore Limited. (US$1=S$1.57). Work on Oiltanking’s Phase 7 project on Singapore’s Jurong Island is underway and is expected to be completed by the end of 2006. The project involves the...

(EnergyAsia, May 16) — Thai state upstream company PTT Exploration and Production Public Company Limited (PTTEP) said it and its subsidiaries made net profit of 7,839 million baht or 11.92 baht per share in the first quarter of 2006. This represented an increase of 84% over the same period last year. (US$1=37 baht). The company...

(EnergyAsia, May 15) — Following last week’s successful launch of its first biodiesel plant, Philippines’ Chemrez Inc said it is looking at going public to raise funds to build a second plant.   The proposed plant would be three times the size of the 60 million litres per year coconut-based plant that has just started...

(EnergyAsia, May 15) — Oil pricing agency Forward Market Curve Limited (FMC) has landed a deal to provide Singapore Exchange its over-the-counter (OTC) oil derivatives prices to facilitate the exchange’s OTC clearing activities.             SGX said it signed an agreement with FMC together with other market pricing for reference in the daily valuation of OTC...

(EnergyAsia, May 15) — Safety and quality will be the key concerns in China’s nuclear power development programme under new guidelines issued by the State Council.             The guidelines cover the country’s nuclear development strategy through 2020. They stress the principle of putting safety and quality first in nuclear power station construction, and using independent...

(EnergyAsia, May 15) — Malaysian plantation group Kulim (Malaysia) Bhd said it is in talks with several unnamed California-based US firms to jointly build an export-oriented biodiesel plant on the Indonesian island of Batam. Kulim and its potential partners, which specialise in producing ethanol from corn, are discussing the plant’s capacity and investment cost. Analysts...

(EnergyAsia, May 15) — China said its domestic coal production is expected to reach a record 2.6 billion tonne/year by 2010, up from 2.19 billion tonne in 2005.   The rise reflects a much slower growth rate compared with past years. Output was only 1.3 billion tonne in 2000.             Importantly, officials promise to continue...