(EnergyAsia, August 11) — Scientists at Germany’s Fraunhofer Institute for Solar Energy Systems ISE are trying to develop solar panels to power mobile phones, laptop computers, PDAs, iPODS and other portable devices that require increasing amount of power. The scientists are trying to develop technologies that will make extend operating times of batteries. At the...
(EnergyAsia, August 10) — Foster Wheeler Ltd said it has been authorised by ExxonMobil Asia Pacific Pte Ltd to proceed with the early phase of the front-end engineering design (FEED) for certain downstream units and associated plant infrastructure of the Singapore Parallel Train (SPT) project. In January 2006, Foster Wheeler announced the award of a...
(EnergyAsia, August 10) — Indonesian President Susilo Bambang Yudhoyono has invited Singapore businesses to invest in three important sectors in his country: infrastructure, biofuels and special economic zones (SEZs). Mr Yudhoyono was in Singapore this week to brief political and business leaders on his country’s plans for economic reforms and business opportunities. He invited...
(EnergyAsia, August 10) — Singapore-listed KS Eenergy Services said its first half net profit surged 83% to S$32.6 million while revenue climbed 55.9% to S$131.9 million over the same period last year, thanks to the booming oil and gas sector. (US$1=S$1.57). Net profit attributable to shareholders rose 82.7% to $31 million for the six...
(EnergyAsia, August 10) — Thailand’s state upstream company PTTEP said it and its subsidiaries posted a 32.8% rise in second quarter net profit of 7,277 million baht compared with year ago levels. Basic earnings per share came to 2.22 baht, with return on shareholders’ equity for the quarter at 36.30%. The group had total revenues...
(EnergyAsia, August 10) — Qatar’s Ras Laffan Liquefied Natural Gas Company Limited (II) said it will proceed to sell 2.5 million tonnes per year of liquefied natural gas (LNG) to India’s Petronet LNG Limited, completing a sales agreement signed in 1999. Then, RasGas II and Petronet had signed a sales and purchase agreement for...
(EnergyAsia, August 10) — Global oil and liquids supply capacity could increase as much as 25% by 2015, with unconventional sources including gas-related liquids and extra-heavy oils accounting for a major proportion of net capacity growth, said US consulting group Cambridge Energy Research Associates’ (CERA) in a new field-by-field study of worldwide hydrocarbon liquids production capacity. The...
(August 10) — Bob Malone, chairman and president of BP America Inc, issued a statement at a press conference in Anchorage, Alaska, the US early this week after announcing crude oil production from the Prudhoe Bay field would be disrupted for several months. The company said Monday it had discovered severe corrosion at its...
(EnergyAsia, August 10) — HSBC Investments has launched the ‘HSBC GIF Sustainability Leaders Fund’, focusing on European multinational companies the bank considers to be leaders in sustainable development. The fund has been developed with the Leadership for Environment and Development (LEAD), an international not-for-profit organisation focused on leadership and sustainable development. Stephen Green, HSBC...
(EnergyAsia, August 10) — Noble Group, the Hong Kong-based global supply chain manager of agricultural, industrial and energy products, has concluded a stock purchase agreement with Petroplus International BV for the acquisition of its subsidiary Oxyde Chemicals BV for around 11 million euro. (US$1=0.78 euro). The deal to be funded in internal cash reflects Oxyde’s total...
(EnergyAsia, August 10) — Flowserve Corp, US-based world leader in fluid motion and control products and services, officially opened its new pump, valve and seal manufacturing facility in Suzhou city in China. The facility will support the company’s existing China operations in Beijing, Shanghai, Dalian and Shenzhen by providing pumps, valves, seals and services to...
Due to a public holiday, there will be no publication today....
(EnergyAsia, August 8) — Thai state oil and gas company PTT said it is collaborating with Japanese automaker Toyota and Kasetsart University to develop biodiesel from the jatropha crop. PTT said it signed a memorandum of understanding (MOU) for a two-year research programme with its partners to meet His Majesty the King’s will on developing...
(EnergyAsia, August 8) — China’s Suntech Power Holdings Co Ltd (NYSE: STP), one of the world’s leading manufacturers of photovoltaic (PV) cells, said it has signed a definitive agreement to acquire MSK Corporation in a two-step cash and stock transaction. In the first step of the acquisition, which is expected to close in the...
(EnergyAsia, August 8) — State-owned Indian Oil Corporation Ltd (IOC) has reported a net operating loss of Rs14,440 million for the April-June quarter of the current financial year to March 31 2007. (US$1=Rs46). However, after taking into account a profit of Rs32,250 million from sale of 20% of its holding of ONGC shares, IOC reported...
(EnergyAsia, August 8) — Edited excerpt of speech given by Lim Hng Kiang, Singapore’s Trade and Industry Minister at the inaugural EMA forum, “Plugging into Singapore”. The forum aims to provide a platform to share the trends and investment opportunities in Singapore’s energy sector. “With no natural fuel resources of our own, we are...
(EnergyAsia, August 8) — RasGas Company Limited has appointed Mohamed Saleh Al Sada as its new managing director, replacing Alex Dodds, who had been in the position since January 2005. Dr Al Sada, who took over from August 1, previously served as director technical at Qatar Petroleum where he oversaw oil and gas projects...
(EnergyAsia, August 8) — Japan’s Chubu Electric Power Co has reduced its pretax profit projection for the current fiscal year by 100 billion yen to about 95 billion yen as a result of an earlier accident at its nuclear power plant 5 at Hamoka in Shizuoka Prefecture. (US$1=115 yen). It said group net profit projection...
(EnergyAsia, August 8) — China will help Iran expand and upgrade the 150,000 barrels per day oil refinery in Arak city as part of a US$2.7 billion trade deal between the two countries. The plant will be expanded to process 250,000 b/d of crude in 2010 to help Iran meet its growing need for oil...
(EnergyAsia, August 8) — French energy major Total has signed an agreement with Indonesia’s PT Easco East Sepanjang to farm into the offshore East Sepanjang block, northeast of Java, with a 49 % working interest. Total said it has the option of acquiring an additional 41 % interest at a later date, provided specific...
(EnergyAsia, August 8) — Suzlon Energy Limited (SEL), the world’s fifth leading wind turbine manufacturer, recently unveiled a set of record financial results for the quarter ended June 30 as part of its financial year 2006. Sales jumped to Rs9,337.7 million from Rs3,075.9 million for the same period last year. (US$1=Rs 46). Announcing...
(EnergyAsia, August 8) — Indian downstream company Bharat Petroleum Corp Limited (BPCL) is expected to soon establish a wholly-owned subsidiary in Singapore for trading and procurement of crude oil and petroleum products as well as shipping and derivatives. The move will make BPCL the first Indian oil company to have its own overseas trading arm....
(EnergyAsia, August 7) — Singapore-based PEARL Energy Limited, the wholly owned upstream subsidiary of UAE’s Aabar Petroleum Investments, has provided an update of its activities for the second-quarter. Aabar is listed on the Abu Dhabi Securities Market. PEARL Energy reported an entitlement of 12,081 barrels of oil per day from its contract area of...
(EnergyAsia, August 7) — Amid the boom in the offshore oil and gas business, Singapore’s Ezra Holdings Limited said it is building a 300-ft accommodation work and crane barge boasts a helideck big enough to land a Sikorsky helicopter, a heavy lift pedestal crane and accommodate 300 workmen for US$8.85 million. Ezra’s wholly owned...
(EnergyAsia, August 4) — After years of famine, Singapore’s oil sector is once again a hive of construction activities as oil and petrochemical companies return to invest in large projects. Singapore’s last big wave of oil and petrochemical investments came in the early 1990s, heralding a period of rapid economic growth for the country. ...