(EnergyAsia, July 6) — Hong Kong-based Titan Petrochemicals Group Limited said it has agreed to buy as many as 10 6,500-metric tonne double hulled bunker barges for US$8.67 million each, as part of its plan to expand and upgrade its bunkering or ship refuelling business. “The bunkering market in Asia is experiencing steady growth in...

(EnergyAsia, July 6) — Schneider Electric China Investment Co Ltd (SECI), the main Chinese subsidiary of Schneider Electric, said it planning to take a 40% stake in Shanghai-listed Shaanxi Baoguang Vacuum Electronic Apparatus Co Ltd (SBVE). SBVE is a leading manufacturer of vacuum interrupters, the main technological component of medium voltage vacuum circuit breakers.            ...

(EnergyAsia, July 6) — More than 16 years after near financial collapse, Singapore’s China Aviation Oil is back in business and has named Tee Siew Kim as chief finance chief. She replaced Peter Lim, who is serving a two-year jail sentence for his role in CAO’s loss of more than US$550 million from oil derivatives...

(EnergyAsia, July 5) — Gas Authority of India Limited (GAIL) said it and Petrobras, Brazil’s energy giant, will be partners during the forthcoming NELP VI bidding for upstream assets in India.   The two companies signed a cooperation and confidentiality agreement during the last month’s visit by a GAIL team to Brazil. IPetrobras said it...

(EnergyAsia, July 5) — WorldWater & Power Corp, a developer and marketer of proprietary high-power solar systems, said it has broken ground on its largest project to date, the $7.8 million Farm ACW avocado ranch project in Fallbrook, California. Construction for the system, approximating one megawatt in size, is anticipated to be substantially completed before...

(EnergyAsia, July 5) — China has launched a new fund to help develop hydro, wind, solar and other environmentally friendly power sources as it aims to raise renewable energy’s contribution to 16% of the country’s total electricity supply by 2020. Other renewable energy sources like biomass, ocean wave and geothermal energy will also be covered...

(EnergyAsia, July 5) — CNOOC Limited said that its contractor, Offshore Oil Engineering Corporation Ltd, has discovered partial deformation in parts of the underwater structure of the jacket for its offshore PY30-1 project. The company said there has been no casualty or other damages of equipment because the problems were identified and measures have been taken...

(EnergyAsia, July 5) — Fuel retailer Unioil Philippines Inc will offer biofuels at its nationwide chain of outlets soon, joining a bandwagon that includes its competitors Petron Corp, Flying V Corp, Seaoil Philippines and Pilipinas Shell Petroleum Corp. Unioil will sell coco methyl ester (CME) produced by local company Chemrez Inc. CME is among the...

(EnergyAsia, July 5) — Lloyd’s, the world’s leading specialist insurance market, has set up its new Chinese onshore reinsurance operation in Shanghai. The city was chosen because of its status as a growing commercial and financial centre in China.   Lloyd’s said it will also keep its representative office in Beijing to maintain the strong...

(EnergyAsia, July 5) — IndianOil Corp has launched its 683-km Chennai-Trichy-Madurai petroleum products pipeline. The launch took place in Chennai last month attended by M. Karunanidhi, chief minister of Tamil Nadu state, P Chidambaram, Minister for Finance, Murli Deora, Minister for Petroleum and Natural Gas, T R Baalu, Minister for Shipping, Road Transport & Highways,...

(EnergyAsia, July 5) — Korea and Oman have agreed to jointly build and operate a liquefied natural gas storage terminal to provide stable LNG supplies to the Asian country. The project has the support of the Korean government. State Korea Gas Corp and Oman’s Oil and Gas Ministry signed a memorandum of understanding in Seoul...

(EnergyAsia, July 5) — Saudi Arabia’s Al Rushaid Group and US-based Flowserve Corp have signed an agreement to build the largest original equipment manufacturer (OEM) pump repair, manufacturing and training facility in the Middle East. Construction of the 20,500 sq m complex at the Al Rushaid oil field center in Dhahran, Saudi Arabia, will start...

(EnergyAsia, July 5) — Australian upstream company Santos said it found oil and gas at the Dua-4X exploration well currently being drilled in Block 12E off the coast of Vietnam.             Santos is participating in the well having agreed in April this year to take a 37.5% interest in two Vietnam exploration permits – Block...

(EnergyAsia, July 4) — The Japanese island of Okinawa will be the focus of a government programme to develop an ethanol fuel industry, said Minister of Economy, Trade and Industry Toshihiro Nikai.   After a meeting with Okinawa Governor Keiichi Inamine, Mr Nikai said the initiative would form part of the government’s plans to promote...

(EnergyAsia, July 4) — The Malaysian government will only consider applications to build hydro-powered plants as it plans to reduce dependence on power generated by oil, gas and coal, said the Minister of Energy, Water and Communications, Lim Keng Yaik. Fossil fuels are increasingly costly and not renewable, and projects built on these fuels may...

(EnergyAsia, July 4) — Malaysia could earn RM700 million a year from exporting biofuels at current crude palm oil prices if all 22 approved biodiesel plants are operational. (US$1=RM3.56). Malaysia is building a palm oil-based biodiesel industry to displace petroleum diesel. Ten biodiesel plants are under construction now. A 60,000-tonne biodiesel plant would cost RM40...

(EnergyAsia, July 4) — Ahmed bin Abdulnabi Macki, Oman’s Minister of National Economy and deputy chairman of the Financial Affairs and Energy Resources Council, last week inspected two projects in China’s Chengdu province in which Oman Oil Company owns shares.             The company has a 30% stake in an aromatics plant that is due to...

(EnergyAsia, July 4) — PT Apexindo Pratama Duta Tbk, an Indonesia-based service provider for energy companies, has landed a US$22.3 million geothermal drilling contract from Star Energy Holdings Pte Ltd and Magma Nusantara Limited. The two companies are prominent players in Indonesia’s geothermal energy sector.   Apexindo will start providing services to support the Wayang...

(EnergyAsia, July 4) — Finland’s Wartsila said demand for its ship power solutions for LNG carriers and offshore applications continued to be “exceptionally high” during May and June.   In the offshore market, W’rtsil’ continued to be favoured as the supplier of diesel generating sets for drill ships. During May and June, the company said...

(EnergyAsia, July 4) — The provinces of Shanghai, Jiangsu and Zhejiang, or the Yangtze River Delta which accounts 20% of China’s GDP, is at the forefront of the country’s drive to promote renewable energy. The authorities and business leaders of the three provinces started to take sustainable energy development seriously in 2004 when they were...

(EnergyAsia, July 4) — China National Petroleum Corporation (CNPC) has welcomed Transneft’s stated plan to build a pipeline to export oil from the village of Skovorodino in Eastern Siberia to run along the Pacific Ocean coast.   Trasneft President Semyon Vainshtok has informed Russian President Vladimir Putin about Transneft’s pipeline plan.   He said the...

(EnergyAsia, July 4) — Caltex Australia Limited said it expects an-after tax profit in the range of A$160 million to A$170 million on a replacement cost of sales operating profit (RCOP) basis for the first half of 2006. (US$1=A$1.36). This compares with A$149.6 million (excluding significant items) for the first half of 2005. These figures...

(EnergyAsia, July 4) — Thai state upstream company PTT Exploration and Production Plc (PTTEP) said it has signed an exploration and production sharing agreement (EPSA) with the Omani government for Block 58 in Oman. The agreement was signed in Muscat last month by Maroot Mrigadat, President of PTTEP and chairman of subsidiary PTTEP Oman Company...

(EnergyAsia, July 3) — US-based GT Equipment/GT Solar Technologies, a global leader in photovoltaic technologies and turnkey systems, has appointed Jeffrey J. Ford as head its Far East operations, including China. “Jeff Ford brings to GT a strong background of doing business in China over a period of 9 years. The Far East is a...

(EnergyAsia, July 3) — French company AREVA has announced the opening of two new factories in Xiamen city in China.             Representing a combined investment of 10 million Euros and 75 employees, AREVA said the facilities highlight its long-term commitment to modernising China’s power grid and providing solutions to ensure a reliable flow of energy...