(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) — 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...
(EnergyAsia, May 15) — Australian oil and gas producer Coogee Resources Limited said it has made a second discovery in the Timor Sea, enhancing its plans for development of the Montara/Skua oilfield later this year. The discovery is at Swallow-1 in the Exploration Permit AC/P34 in the Ashmore Cartier area of the Timor Sea in...
(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 11) — US technology and manufacturing services company Honeywell said it has received contracts to provide software and services to help maximise the performance, safety and reliability of Shell refineries and chemical plants around the world. The contract, covering 15 refineries in Europe and Asia and 10 chemical plants worldwide, supports a global...
(EnergyAsia, May 11) — India’s leading downstream company IOC has sold its 20% stake in state-owned upstream company ONGC through a private placement for Rs36.73 billion. (US$1=Rs44). The sale of 27.4 million shares will help IOC pay for its refining capacity programme. US investment banks Citigroup Inc. and Morgan Stanley managed the sale. On...
(EnergyAsia, May 11) — To accelerate the growth of its global renewable energy holdings from a nearly $1 billion base, GE Energy Financial Services said it has significantly expanded its team of finance and technical professionals serving this market. Energy Financial Services is seeking to grow its renewable energy investments to more than $3 billion...
(EnergyAsia, May 11) — Denmark’s LM Glasfiber said it has concluded a long-term contract to supply blades to Nantong Casc Wanyuan Acciona Wind Turbine Manufacture Co Ltd (NCWA), the Chinese joint venture of Acciona Windpower. Under the four year supply agreement, LM Glasfiber will supply NCWA with blades for its AW-77 1.5 MW wind...
(EnergyAsia, May 11) — Australian upstream company Santos has reported increased production volumes and revenue for the first quarter of 2006. Total production for the three months ended March 31 2006 rose 10.4% to 13.8 million barrels of oil equivalent (mmboe) from 12.5 mmboe in the previous corresponding quarter. Sales volume totalled 13.9 mmboe...
(EnergyAsia, May 11) — Village leaders from three communities devastated by ADB-financed coal plants presented the bank’s President with a bowl of coal in Hyderabad, India last month, said environmental lobby group Greenpeace. The act at the bank’s annual meeting was a symbolic indictment of the ADB’s continued funding of climate change through dirty coal...
(EnergyAsia, May 11) — ExxonMobil’s affiliate in Japan, Tonen Chemical Corporation, said it has expanded the microporous film production capacity at its Nasu Plant by more than 50% to meet strong demand and high growth in the lithium ion battery separator market. “This investment is the third in a series of expansions supporting Tonen’s...
(EnergyAsia, May 11) — State-owned Petrochina Co and Kuwait are considering jointly building a 400,000 b/d oil refinery in China’s Pearl River Delta region in Guangdong province, said local officials. They said the Guangdong government is expected to soon announce a decision. The project’s details are still under study. China is on a...
(EnergyAsia, May 11) — Meeting the energy needs of the Asia and Pacific region in a sustainable manner presents a huge challenge, ADB vice president Geert van der Linden told a seminar in India last week. Concerns have grown about energy security in the wake of the recent volatility and upward movement in oil prices,...
(EnergyAsia, May 11) — Transpacific Industries Group Limited (TPI) and Australian Renewable Fuels Limited (ARF) recently announced an agreement to form an equal unincorporated joint venture to study the feasibility of building a 45,000 litres/year biodiesel plant in Brisbane, Queensland state. The company said the project would be located adjacent to TPI’s existing cooking...
(EnergyAsia, May 10) — Singapore Exchange-listed KS Energy Services Limited said it has restructured its board following recent changes in the stakes of its substantial shareholders. Kris Taenar Wiluan has been appointed chairman and an executive director while Adam Paul Brunet has also been appointed an executive director. Tan Kim Seng has relinquished...
(EnergyAsia, May 10) — Nasdaq-listed Advanced Energy Industries Inc, a global leader in innovative power and control technologies for plasma thin film and nanotech manufacturing processes last week celebrated its 25th anniversary. Co-founder and chairman Douglas S. Schatz has overseen the company expand to serve its customers across the globe with 18 facilities in seven...
(EnergyAsia, May 10) — Singapore’s SembCorp Marine said its first quarter net after-tax profit rose 72% to a record S$40.8 million from year-ago levels while group revenue increased by 12% S$499.1 million. (US$1=S$1.56). The company said rig building and the ship repair business contributed to the increases. The profit increase was due largely...
(EnergyAsia, May 10) — State-owned China National Petroleum Corp (CNPC) plans to invest more than 180 billion yuan to boost and upgrade its refining and chemicals capacities over the next five years. (US$1=8). CNPC’s refining capacity will grow by 45 million tonnes/year to 170 million by 2010. The investments are part of Beijing’s...
(EnergyAsia, May 10) — The US has set up an environmental and energy technology office in Beijing. The office will help introduce into China advanced technologies from the US in the fields of environmental protection and energy efficiency, with a special emphasis on water. It will also provide information and training programs for China’s...
(EnergyAsia, April 10) — Bharat Heavy Electricals Ltd (BHEL) is in talks with international nuclear companies to form joint ventures to boost its nuclear capabilities. The potential partners include Alstom, GE Energy and Siemens. State-owned BHEL is exploring the possibilities of a technical tie-up for high-end nuclear equipment following the recent deal between India...
(EnergyAsia, May 10) — Russia has agreed to supply fuel for India’s Tarapur nuclear plant. Russia will supply 60 metric tonnes of low enriched uranium under the safety exception clause of the Nuclear Suppliers group guidelines, said Indian Prime Minister Manmohan Singh. The deal is part of efforts by New Delhi to expand...
(EnergyAsia, May 10) — Taiwan’s Formosa Plastics Group (FPG) recorded a record profit of NT240 billion for 2005 with profit margin averaging 17%. (US$1=NT32). The main profit contributors were Formosa Plastics Corp. (FPC), Formosa Chemical & Fiber Corp. (FCFC), Nan Ya Plastics Corp., and Formosa Petrochemical Corp. (FPCC). FPCC, in particular, benefited from the...
(EnergyAsia, May 10) — Singapore’s Keppel Corp said two of its subsidiaries, Keppel FELS Limited and Keppel Verolme BV, have each clinched a contract from Transocean Inc. (Transocean) worth a total of US$140 million. Each contract is for the upgrading of a Sedco 700-series semisubmersible drilling rig. The two Keppel yards reap substantial synergy...
(EnergyAsia, May 10) — New Delhi is taking direct management control of the country’s strategic petroleum reserves (SPRs). One important element is the transfer by Indian Oil Corp (IOC) of its equity in Indian Strategic Petroleum Reserves Ltd (ISPRL) to the Oil Industry Development Board (OIDB). The move is aimed at facilitating funding for...