(EnergyAsia, June 9) — Indian Oil Corp (IOC) has announced plans to venture into Indonesia’s oil retail market. The company views Indonesia’s market of 220 million people as an opportunity to expand its retail and refining businesses beyond its domestic base. IOC recently sent a high-level delegation to Jakarta to discuss possible tie-ups and...
(EnergyAsia, June 9) — Upstream company Pearl Energy will mark a short but highly successful stay on the Singapore Exchange once its takeover by UAE’s Aabar Petroleum is completed and its shares are delisted. As of the May 26 deadline, Aabar Petroleum had acquired more than 97% of Pearl’s shares, with the rest to...
(EnergyAsia, June 9) — SembCorp Engineers & Constructors (SembE&C), a wholly-owned subsidiary of Singapore’s SembCorp Industries (SCI), has been acquired by leading Indian engineering and construction company, Punj Lloyd Limited (PLL). SembCorp Industries (SCI) is a leading utilities and marine group in Asia. Punj Lloyd said it acquired a 88% stake in SembE&C for...
(EnergyAsia, June 9) — Leading refinery and petrochemical engineering firm KBC Advanced Technologies plc has announced the appointment of a new CEO and other senior executives. George Bright, previously chief operating officer, has been appointed CEO with the retirement of Peter Close while finance director Nicholas Stone will assume the role of operations director....
(EnergyAsia, June 9) — Ahmedabad, India-based Mamata Energy said it has developed a unique air conditioning-cum-air heating system that runs fully on solar energy. The company said the system includes highly efficient evacuated heat-pipes which trap solar energy for use in cooling air. The hot-air drying system can provide temperature from 40 to 100...
(EnergyAsia, June 9) — CleanFuel USA is set to expand rapidly in India’s growing market for liquefied petroleum gas (LPG) cars. Its Indian subsidiary plans to set up 160 LPG refueling stations by 2008, mostly in the states of Maharashtra, Madhya Pradesh, West Bengal and Punjab. CleanFuel USA, a leader in LPG fuelling...
(EnergyAsia, June 9) — Yanzhou Coal Mining said it has received approval from Beijing to develop a 5-million tonne/year coal-to-oil project (CTL). The first phase of the project in the northwestern province of Shaanxi is estimated to cost 10 billion yuan. (US$1=8 yuan). The project is expected to reach production capacity of 5...
(EnergyAsia, June 9) — Thailand’s state energy company PTT has bought a 40% stake in HMC Polymers as part of its expansion into the downstream petrochemical business, focusing on the production of specialty propylene. Prasert Bunsumpun, PTT’s President, said his company recently signed a share acquisition agreement and a shareholders agreement to acquire the...
(EnergyAsia, June 9) — SUEZ Energy International, a division of the SUEZ group, said it has started up projects to deliver power in Oman and Bahrain. The two projects, acquired mid-2004, were developed on a tight construction schedule, with works started after achieving financial close in November 2004 and a first operational phase ready by...
(EnergyAsia, June 9) — The International Air Transport Association (IATA) has expressed its concern with the impact of rising fuel cost on the industry. While expressing optimism as air traffic continues to grow, it also said the industry is taking a “beating” from high oil prices. It said that for the January-to-April period,...
(EnergyAsia, June 8) — Shell’s Philippines subsidiary has started selling gasoline with 10% ethanol content at its retail outlets. Pilipinas Shell Petroleum Corp becomes the second oil retailer in the Philippines after Seaoil Petroleum Corp to sell biofuels. Pilipinas Shell launched the biogasoline blend at its service station in Paco, Manila at a ceremony last...
(EnergyAsia, June 8) — St Louis, US-based International Fuel Technology Inc (IFT) and CIIF Oil Mills Group of the Philippines, the world’s largest coconut producer, have begun a research and development program to expand the use of coconut oil in biofuels blended with diesel fuel. CIIF Oil Mills Group accounts for more than 40%...
(EnergyAsia, June 8) — Malaysian plantation group Kulim believes it is on the way to becoming a leading biodiesel producer, projecting annual earnings of at least RM500 million from next June. Managing director Ahamad Mohamad said biodiesel will contribute to more than half of the group’s revenue from the second half of 2007. (US$1=RM3.5). By...
(EnergyAsia, June 8) — Japan’s Mitsubishi Heavy Industries Ltd (MHI) said it has received an order for three large-size wind turbines from Dongkuk Structures and Construction Co Ltd (Dongkuk S&C), a major wind turbine tower manufacturer in Korea. The three wind turbines will be installed at the Shin-An Wind Farm in Sinan Gun county in...
(EnergyAsia, June 8) — Japan’s Mitsubishi Heavy Industries Ltd (MHI) said it has received an order from Electrabel SA, a leading European energy company, to supply two replacement steam generators, a core component of pressurised water reactor (PWR) nuclear power plants (NPP). The two RSGs, for the Electrabel Doel-1 NPP, are scheduled for delivery...
(EnergyAsia, June 8) — India’s largest wind turbine generator, Suzlon Energy Limited (SEL), said it is now the world’s fifth largest, after achieving record sales and financial growth for the financial Year ended March 31 2006. Its sales rose 98% Rs38.41 billion while net profit expanded by 108% to Rs760 million. Earnings per share...
(EnergyAsia, June 8) — Invensys Process Systems said it has been chosen by China Power International Ltd. (CPI) to implement I/A Series digital control systems from Foxboro for seven generating units at four new power plants to be constructed in eastern China. The four are Ping Wei Plant #2 at Huai Nan city in An...
(EnergyAsia, June 8) — Reliance Capital Ltd, controlled by Indian tycoon Ani Ambani, has paid Rs920 million for a controlling 51% stake in Southern Wind Farms Ltd (US$1=Rs45). His allies bought a total of 17% of the company’s shares. The deal values Southern Wind Farms, a sister company of the NEPC group, at around...
(EnergyAsia, June 8) — Caltex Australia has completed the construction of an A$8 million, 15-million-litre diesel storage tank at the Gladstone, Queensland fuels terminal as part of a major upgrading programme of its national terminal infrastructure. (US$1=A$1.33). Caltex said it is continuing to upgrade and expand projects at a number of fuel storage and...
(EnergyAsia, June 8) — Operator Great Artesian Oil and Gas Ltd has made a natural gas discovery in the Cooper Basin in South Australia state, said investor Energy Investments Ltd. Perth-headquartered Energy Investments said the Cadenza – 1 discovery has increased its confidence in its commitment to the Copper basin area. Cadenza – 1 will...
(EnergyAsia, June 7) — UAE-based Aabar Petroleum Investments Company PJSC is completing its takeover of Singaporean upstream company Pearl Energy Limited after its bid for the company closed successfully on May 26. At the close, the total number of Pearl Energy shares owned, controlled or agreed to be acquired by Aabar and parties acting in...
(EnergyAsia, June 7) — IntercontinentalExchange, the NYSE-listed electronic energy marketplace, said its regulated futures subsidiary will list two new contracts based on coal, pending regulatory approval. The coal contracts are based on Rotterdam in the Netherlands and Richards Bay in South Africa, and will be cash settled against the indices API 2 and API 4...
(EnergyAsia, June 7) — In another setback for political stability in Northeast Asia, a US-led international consortium has announced it is pulling the plug on a US$1.6 billion nuclear project involving North Korea. The Korean Peninsula Energy Development Organisation (KEDO) said it will seek compensation from Pyongyang for the dissolution of the costly light-water reactor...
(EnergyAsia, June 7) — Solar Night Industries (SNI) said it has launched a ‘Solar Contractor Supply Market’ aimed at making it easier for architects, installers, residential home builders and remodeling specialists to acquire and install high quality solar products according to their individual client’s needs. Through its commercial distribution arm, SNI said it has...
(EnergyAsia, June 7) — Shanghai City will aim to derive one percent of its energy from renewable sources by 2010, up 10 times from the current level, with solar and wind projects leading the way, said the Shanghai Science and Technology Commission (SSTC). The city’s clean energy programme will be symbolised by the construction...