(EnergyAsia, September 20) — The governments of China and the UK have signed a Memorandum of Understanding (MOU) to develop their energy relationship. The MOU provides for the creation of a China-UK Energy Working Group that will meet annually to explore opportunities for mutual cooperation in the energy sector. Meetings will be focussed on...
(EnergyAsia, September 20) — Hong Kong-listed China Oilfield Services Limited (COSL) said it has completed its first well operation in Indonesia and begun drilling in China’s Beibu Gulf. Its semi-submersible drilling rig Nanhai II has been engaged to provide drilling services in an offshore location in Indonesia for Malaysia’s Genting Oil & Gas Limited (GOGL)....
(EnergyAsia, September 20) — German chemical giant BASF and China’s Sinopec have signed an agreement to commission a technical and commercial feasibility study for the expansion of their joint venture petrochemical project in Nanjing in China’s Jiangsu province. Chen Tonghai, Sinopec chairman, JŸrgen Hambrecht, BASF chairman and Martin BrudermŸller, BASF board member responsible for...
(EnergyAsia, September 20) — The Singapore government has established a energy policy group to look at energy issues “holistically”, covering the four perspectives of economic competitiveness, environmental sustainability, energy industry development and energy security. The group will balance out what the government views are “the sometimes conflicting objectives” of economic competitiveness, environmental sustainability and...
(EnergyAsia, September 20) — Australian upstream company Antares Energy has reported an after-tax net profit of A$5.5 million profit for the year to June 30. (US$1=A$1.33). The company undertook acreage building with the acquisition of several US projects in the Shaeffer Ranch, Kenedy Ranch, Oyster Creek, New Taiton and Yellow Rose. It also sold...
(EnergyAsia, September 19) — Asian Development Bank (ADB) said it has formed a panel of renowned energy and environment experts to guide the preparation of an energy strategy for the Greater Mekong subregion. The panel comprises Mohan Munasinghe, Johan Rockstram, Akrasanee Narongchai and Keobang Keola. Dr Munasinghe is the vice chair of the Intergovernmental...
(EnergyAsia, September 19) — The price of oil will fall further to US$55 per barrel by year-end, down sharply from its mid-July peak of more than US$78 a barrel, said Canada’s Toronto-Dominion Bank. In a commentary, TD’s economists Derek Burleton and Natasha Apollonova said the TD Commodity Price Index (TDCI) in US dollars rose...
(EnergyAsia, September 19) — Abu Dhabi Future Energy Company (ADFEC) said it has launched the $250 million Masdar Clean Tech Fund in partnership with Credit Suisse, a leading global bank, and Consensus Business Group (CBG) of the UK. The fund will initially invest in companies with promising cleantech, advanced energy and sustainability-related technologies. Credit...
(EnergyAsia, September 19) — SolArc Inc, a leading provider of enterprise supply, trading and risk management solutions for the aviation industry, said that Singapore Airlines has selected them to provide and implement a fuel management system, SolArc’s RightAngle system. Among other functions, SolArc RightAngle will provide Singapore Airlines with an automated fuel budget and...
(EnergyAsia, September 16) — The International Monetary Fund (IMF) has released the September 2006 issue of its monthly Asia and Pacific Regional Economic Outlook. David Burton, director of the IMF’s Asia and Pacific Department, highlighted the report’s key findings: “Asia appears poised to continue its strong economic performance of recent years. Growth in...
(EnergyAsia, September 19) — Energy broking firm Starsupply said it has opened an office in Switzerland for biofuels and oil commodities. The office is headed by Laurent Gonelle. The company’s address Starsupply SA, Les Hauts de St-Jean, CH 1260, Nyon, Switzerland, tel (4122) 365 5500....
(EnergyAsia, September 19) — A joint refining project planned by PetroChina and Sinopec is still waiting for government approval, China Daily reported. The companies are planning to build a US$1.6 billion project in Guangxi Zhuang Autonomous Region to process oil imported from Sudan where PetroChina is a major producer and explorer. Notably, the...
(EnergyAsia, September 19) — India’s power major National Thermal Power Corp (NTPC) is looking to import some 1.5 million tonnes of spot liquefied natural gas (LNG). NTPC desperately needs the gas to meet a shortfall in fuel supplies for its seven gas-based power plants. Separately, the company has also sent a team to...
(EnergyAsia, September 19) — Indian upstream company ONGG Videsh is aiming to buy up the entire output of Russia’s Sakhalin-I natural gas project. The company is keen to import the gas in liquefied form. It has already made a proposal to buy some eight billion cubic metre/year to its Sakhalin-I project partners. ONGC Videsh...
(EnergyAsia, September 19) — Engineering giant Foster Wheeler Ltd said its UK subsidiary, Foster Wheeler Energy Limited, and its Singapore subsidiary, Foster Wheeler Asia Pacific Pte. Ltd, have been awarded a reimbursable engineering, procurement and construction (EPC) contract by Lucite International Singapore Pte Ltd (LISPL) for a new methyl methacrylate (MMA) manufacturing facility to be...
(EnergyAsia, September 18) — The government of India’s Goa state is weighing proposals to build two 250 megawatt (MW) power plants. Both units would be coal-based with one plant to be sited in the northern part of Goa and another in the south. Goa was recently approached by the central government to consider proposals...
(EnergyAsia, September 18) —A book entitled, “Energy & Emissions Markets: Collision or Convergence?”, has been published explaining the link between energy and environmental issues. Co-written by two energy and environmental consultants Peter C. Fusaro and Tom James, the books examines the global forces of energy and environmental issues and their links. The beginning of European...
(EnergyAsia, September 18) — Fixed assets investment in China’s petroleum and chemical industry rose by 36.3% in the first half of 2006, said the China Petroleum and Chemical Industry Association (CPCIA). Investment in oil exploration and development was up 25.6% to RMB67.1 billion, over the same period last year, while investment in oil refining...
(EnergyAsia, September 18) — The Indian government is planning to develop an index to help determine the pricing of the country’s rising coal imports. The coal index would be similar to its global crude oil index, officials said. The index will help bring under one roof the different varieties of coal imported from different...
(EnergyAsia, September 18) — India’s Petronet has been unable to find buyers for spot LNG shipments offered by Qatar because of record high prices. Qatar offered an LNG shipment at US$12.5 per million British Thermal Unit (mm BTU), the highest price ever for an LNG cargo to India. Petronet had to reject the...
(EnergyAsia, September 18) — China is aiming to raise energy saving standards in new buildings by 65% under a new programme. The Beijing Construction Committee has published a new programme mandating buildings to achieve those savings by 2020. Some existing buildings will have to be rebuilt under the new codes. As an initial...
(EnergyAsia, September 18) — India’s privately held Reliance Industries wants the government to ensure a level playing field in the downstream fuel retail market to enable it to compete against state owned competitors. Reliance’s executives told the local media that its downstream business is being harmed because of New Delhi’s policy of compensating the...
(EnergyAsia, September 18) — Australia should start preparing for the drastic consequences associated with the peaking of global oil production, a Senate committee said in its report following a 10-month national investigation into the theory that crude oil output will start declining in the next decade or two. After interviewing hundreds of experts including...
(EnergyAsia, September 18) — Keppel Integrated Engineering (KIE), the environmental technology and engineering division of Singapore’s Keppel Corp Ltd, has signed a Memorandum of Understanding (MOU) on strategic partnership with China National Environmental Protection Corporation (CNEPC) to serve the biomass and sludge treatment market in China. A ceremony was held last week witnessed by Alphonsus...
(EnergyAsia, September 18) — Over the next five years, global oil demand and non-OPEC production will both rise in a manner that will put the squeeze on OPEC, said US-based consultant ESAI. According to its latest 5-year outlook, OPEC production may not go up without contributing to a significant global surplus. The increase in...