(EnergyAsia, August 3) — Hong Kong-listed China Oilfield Services Limited (COSL) has released a set of operations statistics for the six months ended 30 June 2006. The company operated for a total number of 2,224 days, down 54 days or 2.4%, compared with the same period last year. Operating days for jack-up rigs and...
(EnergyAsia, August 3) — Standard & Poor’s ratings services said it has affirmed its ‘A’ long-term debt rating on the senior secured Series A and Series B bonds, due 2020 and 2027, respectively, issued by Qatar-based Ras Laffan Liquefied Natural Gas Co. Ltd. (II) (RasGas II) and Ras Laffan Liquefied Natural Gas Co. Ltd. (3)...
EnergyAsia, August 2) — Sinagpore-based China Petrotech Holdings Limited (CPHL) said it has agreed to acquire a 48% equity interest in China Zhen Rong Cambodia Energy Co Ltd (CZRCE) from Power Unicorn Investments Ltd (PUI) for US$5.76 million. With the transaction, the CZRCE’s owners are CPHL (48%), PUI (27%), Guangdong Zhen Rong Energy Company Ltd...
(EnergyAsia, August 2) — Thailand’s upstream company PTT Exploration and Production Public Company Limited (PTTEP) said its board of directors has passed a resolution to pay shareholders an interim dividend of 1.71 baht per share from petroleum income for the first half of the year. (US$1=38 baht). For the second quarter, the company said it...
(EnergyAsia, August 2) — Australian upstream company Essential Petroleum Resources Limited (EPR) said that Bass Strait Oil Company Limited (Bass) and Inland Oil Resources Pty Ltd (IOR) have elected to farm into the Victorian Otway Basin permits PEP 151 and PEP 150. As announced last November and February, Essential said Bass and IOR have earned...
(EnergyAsia, August 2) — In a statement released in Brazil, multinational soya traders have agreed to a two-year moratorium on buying soya from newly deforested land in the Amazon, said Greenpeace. The environmental lobby group welcomed the move, stating that the international soya trade has been affected by the negative publicity around the huge environmental...
(EnergyAsia, August 2) — India’s downstream oil companies continue to suffer from the government’s decision not to let them raise pump prices to reflect rising prices on the world markets. The latest victim is the Hindustan Petroleum Corp Ltd (HPCL) which reported an increased loss of Rs6.07 billion (US$1=Rs46) for the April-June quarter, compared with...
(EnergyAsia, August 2) — India will buy power from neighbouring Bhutan when they jointly build the 1,020MW Tala hydroelectric project. Taking a crucial step towards energy security, India last week signed an agreement with Bhutan for the purchase of power from the proposed hydro-electric plant. The two sides had signed an agreement on March...
(EnergyAsia, August 2) — Reliance Industries Ltd (RIL), India’s largest private sector oil firm, wants compensation from the government on par with the state oil companies for losses it incurs from selling gasoline and diesel to domestic consumers at below world prices. Reliance said the government should provide for a level playing field between the...
(EnergyAsia, August 2) — Austral Pacific Energy Ltd has announced it has started oil production at the onshore Cheal oil field onshore in Taranaki, New Zealand. Production began last week at rates up to 300 barrels per day from temporary facilities that allow continuous oil production from one well. Production will rise to 1,000...
(EnergyAsia, August 1) — Scientists from China’s University of Science and Technology have claimed a breakthrough in sharply reducing the cost of producing biofuels from crop stalks, chaff and sawdust. They said the new technology will enable the cost of producing biofuels to be 57% below that of diesel oil and 39% cheaper compared...
(EnergyAsia, August 2) — Singapore’s SembCorp Marine said its Brazilian shipyard, Mauā Jurong, has secured an engineering, procurement and construction contract worth US$550 million from Companhia Mexilhāo do Brazil (CMB) for the construction of PMXL-1, a Fixed Gas Production Platform to be installed off the waters of Brazil. Construction will start immediately with delivery...
(EnergyAsia, August 1) — BP Solar, a pioneer in silicon casting for solar photovoltaic cell applications, said it has developed a new silicon growth process that significantly increases cell efficiency over traditional multi-crystalline-based solar cells. The new technique, named Mono2, enhances BP Solar’s technological expertise in the silicon growth and wafering arenas where silicon ingots...
(EnergyAsia, August 1) — SK Corporation, Korea’s largest oil company, has announced record sales revenue for the first half year ending on June 30, 2006. The company reported sales revenue of 11.03 trillion won, up 11 % from 9.95 trillion won for the same period a year ago. (US$1=950 won). Net profit increased 17.3% year...
(EnergyAsia, August 1) — China’s Liaoning province has started constructing a new nuclear plant, the first in the country’s northeast region. The Hongyanhe Nuclear Power Plant in Donggang Town of Wafangdian, 104 km north of Dalian City, will have six generating units, each with an installed capacity of one million kilowatts. Two pressurised water...
(EnergyAsia, August 1) — PetroChina expects to receive approval to build a new refinery in China’s Guangxi Zhuang autonomous region. The powerful National Development and Reform Commission (NDRC) could soon approve the 13 billion yuan project within six months. (US$1=8 yuan). The 10 million tonne/year plant is designed to process crude oil from Sudan....
(EnergyAsia, August 1) — China’s Yingli Solar is planning a US$400 million initial public offering (IPO) on the US Nasdaq stock market. Yingli is China’s largest maker of solar power equipment. The IPO will likely go ahead by early next year. Competitor Suntcch last year raised US$396 million when it listed on the New...
(EnergyAsia, August 1) — India’s state planners are pushing its state oil firms to step up ethanol supply by linking up with Brazilian producers. The government wants the oil firms to look at importing ethanol from Brazil and to enter into partnerships with Brazilian ethanol producers to increase supplies. However, critics question the...
(EnergyAsia, August 1) — India’s Haryana state will invest Rs39 million this year to help boost the use of renewable energy, in particular solar energy. (US$1=Rs46.2) The focus of the investment is on encouraging people in the rural areas to adopt renewable energy technologies to meet their day to day requirements for cooking, heating,...
(EnergyAsia, August 1) — Indian Oil Corp (IOC) has recently tied up with five leading manufacturers of LPG stoves to market their Green Label branded stoves through its nationwidewide network of LPG distributorships. Mrinal Roy, IOC’s general manager for LPG, said: “We were the pioneers in the 1970s when we launched the energy efficient...
(EnergyAsia, August 1) — India’s Manipur state wants New Delhi to help it expand its fuel storage capacity. At a recent meeting with leaders of India’s ruling Congress party, Manipur chief minister Ibobi Singh said the state must have the capacity to store all petroleum products equal to up to 90 days of consumption....
(EnergyAsia, July 18) — India’s Aegis Logistics is planning to buy liquid terminals at the major ports of Jawaharlal Nehru, Kochi, Kandla, New Mangalore and Visakhapatnam. Talks to acquire terminal facilities at three of the ports are already “in advanced stages,” unidentified officials told the local media. Mumbai-based Aegis, which operates the Mumbai Port...