(EnergyAsia, July 20) — Asia’s largest oil refiner, Sinopec of China, said its crude refining throughput rose 5.3% to 71.68 million tonnes in the first half of 2006 compared with the same period last year. The government’s decision to allow domestic fuel prices to rise encouraged Sinopec and other refiners to raise products output. Sinopec...
(EnergyAsia, July 20) — China’s Huaneng Power International Inc said it boosted its power output for the first half of 2006 by 2.2% to 73.424 billion kWh. The increase came mostly from increased output at its power plants in Shantou, Taicang and Yueyang. The company said seven new generation units at the three locations and the Shanghai...
(EnergyAsia, July 20) — ALSTOM said it has signed a contract, worth more than 100 million euros, with Bahrain’s Ministry of Electricity and Water for the modernisation of the Rifaa II power plant. The single-cycle power plant consists of six type GT13D2 gas turbines operating on fuel gas. The plant is over 20 years...
(EnergyAsia, July 20 2006) — The media in Southeast Asia is once again reporting that a smog created by forest and land burning in Indonesia has covered vast areas of Malaysia and southern Thailand. Tens of millions people in the region will once again be breathing the stale fumes and ash blown in from Sumatra island as plantation...
(EnergyAsia, July 20) — Malaysian state energy company Petronas has launched its liquefied petroleum gas (LPG) bottling plant in Vietnam’s Dong Nai Province. The plant, Petronas’s second LPG facility in Vietnam, was acquired from ExxonMobil (Unique) Vietnam Co Ltd last September. Marking the takeover, Petronas said it held a launch ceremony for the takeover...
(EnergyAsia, July 19) — HSBC, the world’s first major bank to become carbon neutral, has announced its strategy to help clients respond to the challenges and opportunities of creating a lower carbon economy. It will advise them on the implications of climate change and the business opportunities that arise. HSBC has also issued its...
(EnergyAsia, July 19) — Korea said it had to pay more for its crude oil imports in the first five months of the year as a result of the Iranian nuclear crisis and political instability in Nigeria. For the first time, Korean consumers had to pay an average of more than US$60 a barrel for...
(EnergyAsia, July 19) — McDermott Industries (Aust) Pty Ltd., a subsidiary of J. Ray McDermott S.A., was recently awarded a contract by Woodside Energy Limited, operator of the North West Shelf (NWS) Venture, valued at approximately $200 million, for substructure and pipelay installation for the venture’s US$1.2 billion Angel platform development. The Angel development...
(EnergyAsia, July 19) — Singapore held a national seminar on emissions trading on July 12, the day after it officially became a signatory to the Kyoto Protocol, the 1997 UN agreement set up to slow down global warming by attempting to limit greenhouse gas emissions. In keeping with its name, “Emissions Trading – Economic...
(EnergyAsia, July 19) — Hong Kong-listed CITIC Resources Holdings (CRH) Limited said wholly owned subsidiary CITIC Seram Energy Limited has agreed to acquire a 51% participating interest in Indonesia’s Seram Island Non-Bula Block from KUFPEC (Indonesia) Limited for US$97.4 million. Upon completion of the acquisition, which is conditional upon certain Indonesian government approvals and...
(EnergyAsia, July 19) — Gas Authority India Limited (GAIL) said its April-June after-tax profit rose 22% to Rs5.92 billion while revenue surged 24% to Rs40.78 billion. Profit before tax was up 17% to Rs8.52 billion. (US$1=Rs45). The company said it has provided for Rs2.5 billion as its share of subsidy payments to the government...
(EnergyAsia, July 19) — US power company Mirant Corp said it plans to sell off its Philippines business as part of a strategic plan to enhance shareholder value. The company’s other plans included the immediate launch of a modified “Dutch Auction” tender offer for up to 43 million shares of Mirant common stock, using available...
(EnergyAsia, July 19) — The Philippine government said it is trying to lead the way in conserving and using energy more efficiently to help cushion the effects of a new round of oil price hikes. On July 9, the country’s leading four oil firms increased gasoline prices by about P0.05 centavos per liter while...
(EnergyAsia, July 19) — The Japanese government is planning to introduce gasoline with a three percent ethanol mix for motoring use from fiscal 2008. Vehicles on Miyakojima island in the Okinawa Prefecture, will be the first to experiment with the fuel containing ethanol produced from locally grown sugar cane. Tokyo plans to build a...
(EnergyAsia, July 18) — US major Chevron Corporation said one of its affiliates made a natural gas find at its Chandon-1 exploration well located 260 km offshore north western Australia in permit WA-268-P. The well was spud on June 21, and it sits within the western reaches of the Greater Gorgon development area. It was...
(EnergyAsia, July 18) — Australian upstream company Santos said it has agreed to pay A$474 million to buy over Delhi Petroleum Pty Limited (Delhi), thereby raising its stake in the Cooper Basin oil and gas fields. (US$1=A$1.35). In adding 21% to its stake in the mature Cooper Basin oil and gas reserves, Santos will...
(EnergyAsia, July 18) — At its meeting in St Petersburg in Russia, the G8 nations have issued the following statement, “Plan of Action on Global Energy Security“. The G8 countries include the US, Britain, Germany, Japan, France, Italy, Canada and Russia. “Energy is essential to improving the quality of life and opportunities in developed...
(EnergyAsia, July 18) — Russia’s Rosneft and state Chinese Petroleum Corporation (Sinopec) have signed an agreement on the management of oil producer Udmurtneft following its purchase by the Chinese company and Rosneft’s exercise of its option to buy into Udmurtneft. Udmurtneft shares will now belong to a management holding company, in which Rosneft holds...
(EnergyAsia, July 18) — The skyrocketing international price of oil has prompted a number of domestic and foreign companies to step up efforts to develop the market for renewable energy in Taiwan, according to the CENS News. The companies include the Taiwan Power Co. and Formosa Plastics Group of Taiwan, and InfraVest of Germany. ...
(EnergyAsia, July 18) — The Organisation of Petroleum Exporting Countries (OPEC) has expressed its concern with the “strong upward pressure” on oil prices of the past few days and “wishes to reassure the market of its continuing commitment to order and stability, to the benefit of producers and consumers alike.” Crude oil prices rose...
(EnergyAsia, July 18) — Permolex International LP has announced a major expansion of its North American ethanol business, following its successful equity investment in Northeast Biofuels (NEB), a “destination” bio-refinery to be constructed in Volney, New York. The NEB plant will be the first ethanol facility in northeastern US. Because of its strategic upstate New...
(EnergyAsia, July 18) — India’s Minister for Petroleum and Natural Gas Murli Deora said the government will not allow domestic oil prices to rise despite world oil prices surging to new record levels. “We are not considering any rise in domestic oil prices at present,” Mr Deora told reporters last week at the launch of...
(EnergyAsia, July 18) — India should increase its strategic petroleum reserves and step up diplomacy and trade ties with both oil producing and consuming nations to enhance its energy security, said the state Export Import Bank of India (EXIM Bank). In a study, “Indian Petroleum Products Industry – Opportunities and Challenges”, the bank said India...
(EnergyAsia, July 18) — Australian upstream company Santos has provided an update on its Jeruk-3 appraisal well that it shares with its partners under the Sampang Production Sharing Contract (Sampang PSC). “The Jeruk-3 appraisal well is being drilled in the Sampang PSC, offshore Indonesia, approximately 1.8 km west of Jeruk-1 and 40 km south east...
(EnergyAsia, July 17) — Taiwanese solar companies are applauding the government’s plan to help them expand into the Middle East, Africa and Pacific islands to increase their international presence. Leading solar equipment producer Motech Industries Inc has welcomed the announcement as the industry is seeking out new markets, after having focused most of their...