(EnergyAsia, August 24) — The US subsidiary of Taiwan’s Formosa Plastics Corp (FPC), Formosa Plastics Corporation USA (FPCUSA), said it plans to build two power plants fired by petroleum coke to reduce the use of increasingly costly oil and natural gas.   The plants, costing a total US$370 million, will partly replace two natural gas-fired...

(EnergyAsia, August 24) — Nasdaq-listed SunPower Corp, a Silicon Valley-based manufacturer of the world’s highest efficiency, commercially available solar cells and solar panels, has launched its automated solar panel manufacturing plant in the Philippines near its SPML solar cell factory.   SunPower said it expects to produce up to 30 megawatts (MW) of solar panels...

(EnergyAsia, August 24) — The Indian government is preparing to issue oil bonds worth a total Rs280 billion to help compensate India’s oil marketing firms who Ð due to price regulations Ð are forced to sell product below cost.   Proceeds from the sales will help the oil marketing firms close the gap between regulated...

(EnergyAsia, August 24) — The latest wave of attacks by Sri Lankan armed separatists known as the Tamil Tigers is jeopardising Trincomalee port where Indian Oil Corp (IOC) has an oil storage facility and operates ships for transporting fuel.   The situation at Trincomalee, including its oil facilities, has been the subject of recent phone...

(EnergyAsia, August 24) — Caltex Australia has issued a statement spelling out its position on ethanol and biofuels.   – Development of the ethanol market can be achieved without mandates through the policy of the Australian Government to encourage both supply (capital grants) and demand (excise concessions and sales incentives).   – Caltex is opposed...

(EnergyAsia, August 24) — Within a year of its founding, Becco Biofuels has grown into a globally integrated operation with crop farms, seed-crushing plants and refineries in Europe, Asia, Africa and Latin America. Starting in Spain where it now operates biodiesel refineries, the integrated biodiesel producer has expanded into China, which will eventually become one...

(EnergyAsia, August 24) — Two Dubai state agencies, the Dubai Multi Commodities Centre (DMCC) and Techno Park, have tied up with LNG Impel (IMPEL) to develop a ‘world class’ liquefied natural gas (LNG) storage facility in Dubai’s Techno Park in the UAE. The project is estimated to cost US$1 billion.   Envisioned as an infrastructure...

(EnergyAsia, August 24) — Between July and September every year, an annual event of massive destruction takes place in Indonesia that directly harms the health and safety of tens of millions of people in Southeast Asia. While it once commanded news headlines and primetime television slots, and the attention of government officials in the region,...

(EnergyAsia, August 24) — Interntanko, the association of oil tanker owners, has welcomed the decision by the Joint War Committee (JWC) of the London hull insurance sector to take the Malacca Straits off the list of areas where additional insurance premia are levied. The bulk of East Asia’s oil supply is delivered by tankers through...

(EnergyAsia, August 24) — Australian upstream company Woodside Petroleum said its first half net profit rose by 19.9% to A$524.3 million for the first half from A$437.4 million for the corresponding period last year. The latest net profit includes significant items of valued at -A$18.6 million including the realised gain of various assets and oil...

(EnergyAsia, August 23) — Indian Oil Corp (IOC) and Turkey’s Calik Enerji are planning a joint refinery-petrochemicals complex at Ceyhan in Turkey.   The prospective partners have already submitted their applications to the Turkish government. The proposed 15 million tonnes/year refinery could cost up to US$4.9 billion to build.   In a related development, IOC...

(EnergyAsia, August 23) — China National Offshore Oil Corp (CNOOC) has signed a preliminary liquefied natural gas (LNG) supply deal with Malaysia’s Petronas to source its planned Shanghai LNG terminal, according to the South China Morning Post.             The terminal will have an annual capacity to re-gasify three million tonne of LNG. The 55/45 joint...

(EnergyAsia, August 23) — German automaker DaimlerChrysler is planning to source biodiesel from Indian farmers of the jatropha crop.   The company’s Indian subsidiary is in the process of identifying areas and recruiting farmers to grow the crop on their farms.   DaimlerChrysler India has tied up with India’s Central Salt and Marine Chemicals Research...

(EnergyAsia, Augus23) — Thai state energy company PTT Public Company Limited (PTT) said it and its subsidiaries recorded Bt48.25 billion in first half earnings on total sales revenue of Bt583.62 billion. (US$1=Bt38).   The group realised a Bt7.13 billion gain from the sale its Rayong Refinery Public Company Limited (RRC) shares. PTT bought RRC from...

(EnergyAsia, August 23) — Oiltanking has started up its first oil storage terminal in China with the launch of its phase 1 tanks in the Daya Bay Petrochemical Industrial Park in Huizhou City in Guangdong province.   Construction of the terminal started in July 2005 shortly after the signing of a long-term storage agreement between...

(EnergyAsia, August 23) — Texas, US-based SulphCo(R) Inc said it has signed a Letter of Intent with Korea’s Hyundai Oilbank Co Ltd and SulphCo KorAsia Inc on commercialising its oil refining technology. Hyundai Oil Bank, a leading Korean refiner, and SulphCo have agreed to work together with the aim of entering into a commercial agreement...

(EnergyAsia, August 23) — The Australian Gas Light Company (AGL) has announced a record net profit of A$432.1 million for the 12 months to June 30, up 16.7% from the previous year. (US$1=A$1.33).   Profit attributable to shareholders from continuing operations rose 87.1% to A$457 million primarily due to the prior year result including a...

(EnergyAsia, August 23) — Shell Exploration & Production has welcomed the delivery of the first gas cargo from its Pohokura Project in Taranaki, New Zealand. Gas began flowing from the three completed onshore wells through the production station at Motonui, near New Plymouth earlier this month. The field, which is the second largest in New Zealand,...

(EnergyAsia, August 23) — China’s Three Gorges hydro-power project is equipped to store record amounts of water after this summer’s flood season. The reservoir will start storing additional water following an appraisal by authorities.             Officials said it is ready to hold 156 metres of water, up from 135 metres previously when the reservoir began...

(EnergyAsia, August 23) — Russian energy giant Gazprom said it has exported its first liquefied natural gas (LNG) cargo to Japan. The 145,000-cubic-meter or 92-million-cubic meter cargo was sold by Gazprom Marketing & Trading Ltd, a unit of the Gazprom Group of companies, to Mitsubishi Corp, which had bought it from Celt, a joint venture...

(EnergyAsia, August 22) — China Natural Gas Inc (CNGI), the first China-based natural gas public company traded in the US capital market, said it has signed a five-year contract with Zhengzhou Zhongyou Oil & Gas Co Ltd, a subsidiary of Sinochem, China’s largest chemical company, to supply 350,000 cubic meters of compressed natural gas per...

(EnergyAsia, August 22) — US energy major Chevron Corp said its Australian subsidiary has successfully bid for the rights to a deepwater exploration permit with gas potential off the coast of Western Australia state. Chevron Australia Pty Ltd will be the operator and will hold a 50% interest, with Shell Development (Australia) Pty Ltd holding...

(EnergyAsia, August 22) — Malaysian engineering company Dialog Group Berhad said its wholly owned subsidiary, Dialog Systems Pte Ltd, has decided not convert a letter of intent for the construction of an oil storage facility in Singapore into a contract.   Dialog said it was unable to resolve “a number of contractual terms, especially in...

(EnergyAsia, August 22) — Bangladesh’s northern district is preparing for a fuel shortage after state Bangladesh Petroleum Corporation (BPC) warned that 14 of its fuel depots including the 38.2-million-litre Baghabari terminal will soon run out of diesel.   The company’s northern control room said a small cargo of 4.7 million litres of diesel is expected...

(EnergyAsia, August 22) — COSCO Corp Singapore Limited, a leading ship repair, marine engineering and shipping group, said its 51%-owned subsidiary, COSCO Shipyard Group, recently secured its first contract to build a floating storage and offloading unit (FSO) of 52,000 dwt. The US$74.8 million project marks the Singapore Exchange-listed company’s entry into the lucrative offshore...