AZERBAIJAN: Finland’s W’rtsil’ awarded contract to supply another large power plant

(EnergyAsia, October 23) — AzerEnerji, the state energy company of Azerbaijan, is expected to award Finland’s W’rtsil’ a contract for a 300 MW multi-fuel power plant to be located in Sangachal, 50 km south of the capital of Baku. W’rtsil’ said the new plant will consist of 18 50DF generating sets.   The company expects...

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SINGAPORE: Shell launched construction of petrochemicals complex

(EnergyAsia, October 23) — Royal Dutch Shell last week launched the construction of its petrochemical complex on Singapore’s Bukom island, with Prime Minister Lee Hsien Loong breaking ground as guest of honour.   When complete, the new plant will include a new world-scale 800,000 tonnes per annum ethylene cracker on Bukom Island and a 750,000...

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ASIA: IMF sees continued strong growth in Central Asian countries

(EnergyAsia, October 23) — The International Monetary Fund’s Middle East and Central Asia Department has predicted the Central Asia region will continue to enjoy strong economic growth but warned of the need for policies to guard against rising inflation and excessive borrowing. David Owen, senior advisor in the department, presented the report’s main findings for...

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CHINA: Japan’s MHI gets order for components for 4 units of gas turbines

(EnergyAsia, October 23) — Japan’s Mitsubishi Heavy Industries Ltd (MHI) said it has received an order from Dongfang Steam Turbine Works (DFSTW), one of China’s top three turbine manufacturers, for the supply of major components for four units of M701F gas turbines. DFSTW is based in Deyang city in Sichuan province. The gas turbines to...

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AUSTRALIA: Woodside may not meet 2006 production target of 72 million boe

(EnergyAsia, October 23) — Australia’s upstream company Woodside Petroleum Ltd said it may not be able to meet its 2006 production targets as a result of problems at some of its projects. Third quarter production was 27.7% higher than the same period last year while sales volume rose 25.8%. Production rose 22.3% to a record...

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CHINA: PetroChina said crude, natural gas output rose in first nine months of 2006

(EnergyAsia, October 23) — PetroChina Company Limited said its business operations continued to advance in the third quarter of 2006 compared with the corresponding period last year. For the first nine months of the year, PetroChina said its oil and gas production grew 5.8% to 793 million barrels of oil equivalent over the same period...

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CHINA: Focus on services to boost energy savings

(EnergyAsia, October 23) — China’s state planners want to boost the country’s services sector in an attempt to curb rising energy consumption.   According to a paper released by the State Council, China needs to moderate and manage its growing energy consumption by changing its industrial structure. For the five years to 2010, the government...

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SINGAPORE: Keppel FELS on course to deliver another KFELS Super B Class jackup rig

(EnergyAsia, October 23) — Singapore’s Keppel FELS Limited said it is on course to deliver another KFELS Super B Class jackup drilling rig to repeat customer Oslo-listed Sinvest ASA on time and within budget.   Evelynn Worum, Lady Sponsor and wife of Geir Worum, chairman of Sinvest, named the rig Deep Driller 3 at a...

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MARKETS: OPEC to cut output by 1.2 million b/d from November 1, oil prices continue to slide

(EnergyAsia, October 23) — World oil prices continue to slide, hitting an 11-month low of US$56.82 a barrel in New York last Friday on traders’ disbelief that OPEC will follow through on its decision to cut its output by 1.2 million barrels per day from November 1. West Texas Intermediate crude has now lost more...

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PEOPLE: Leif Strid named Asia Pacific director for SunGard GMI

           (EnergyAsia, October 24) — SunGard has named Leif Strid as Asia Pacific Director for its GMI clearing and accounting system for global exchange-traded derivatives, futures and options. To be based in Hong Kong, Mr Strid is responsible for managing the GMI infrastructure within the region, serving existing customers and coordinating the expansion of the...

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SINGAPORE: Energy security and alternative energy as national policy

(EnergyAsia, October 23) — The following is an edited copy of a speech by Singapore’s Minister of State for Trade and Industry, S. Iswaran, at the ‘Financing Energy Projects in Asia’ Conference last week.   The government has established an inter-ministry Energy Policy Group (EPG) to formulate and co-ordinate our national energy strategies. The EPG...

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AUSTRALIA: Peak oil looms, says Senate committee, sparking debate

 (EnergyAsia, October 20) — The Lucky Country is starting to confront the possibility of resource constraint as its dependence on oil imports grow. One of the world’s most self-sufficient and well-managed countries, Australia is increasingly debating its energy future as its conventional crude oil production and reserves continue to show rapid decline while the lack...

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JAPAN: Six companies establish the Nippon GTL Technology Research Association

(EnergyAsia, October 20) — Japan’s Inpex Corp said it and other companies have established the Nippon Gas-to-Liquids (GTL) Technology Research Association. Its partners include Nippon Oil Corp, Japan Petroleum Exploration Co Ltd, Cosmo Oil Co Ltd, Nippon Steel Engineering Co Ltd and Chiyoda Corp. Tadashi Sagai, the executive vice president for Japan Petroleum Exploration Co...

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KOREA: Gazprom supplies first LNG cargo

 (EnergyAsia, October 20) — Russian natural gas giant Gazprom said it has supplied its first liquefied natural gas (LNG) cargo to South Korea. Subsidiary Gazprom Marketing & Trading Ltd bought the145,000 cubic-meter cargo from Japan’s Mitsubishi Corp, which had obtained it from Celt, a joint venture between Mitsubishi Corp and Tokyo Electric Power Inc.  ...

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RUSSIA: Rosneft and China’s CNPC to form joint venture company

  (EnergyAsia, October 20) — Russia’s Rosneft and China’s China National Petroleum Company (CNPC) have established a new 51/49 joint venture company, Vostok Energy Ltd.   An agreement for the company was signed by Sergey Bogdanchikov, president of OJSC Rosneft, and Chen Geng, president of CNPC, on October 16.  The charter capital of Vostok Energy was set at 10 million rouble....

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JAPAN: NORESCO awarded $106 million cogeneration project for US Navy in Yokosuka

(EnergyAsia, October 20) — NORESCO, a US provider of energy savings solutions, said it has been awarded a $106 million project to build a cogeneration power plant at Commander, Fleet Activities Yokosuka (CFAY) in Japan, in support of the US Naval Facilities Engineering Command (NAVFAC) for the Far East. The plant, to be operational by...

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INDIA: Oil firms still squeezed by price controls

 (EnergyAsia, October 20) — India’s oil marketing companies continue to complain about losses as a result of the government’s insistence on keeping the ceiling on retail prices for oil products.   Privately owned Reliance and Essar are threatening to close down their retail businesses if they do not receive the same support given to the...

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MARKETS: S&P warns China, India could face serious oil shocks

(EnergyAsia, October 20) — Credit watchdog Standard & Poors has warned that the economies of India and China are vulnerable to the impact of a serious oil shock.   In a recent report, S&P said China is vulnerable to an economic retreat from an oil price shock because of its high energy needs as a...

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INDIA: Reliance, Chevron eye Europe, Africa retail markets

(EnergyAsia, October 20) — India’s Reliance and US energy major Chevron, recently entered into a partnership, are looking at plans to supply oil to retail markets in Europe and Africa.   Supplies to Europe and Africa would become available after the start-up of Reliance’s planned 580,000 b/d refinery at Jamnagar in Gujarat state. The company...

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CHINA: Essential Innovations signs MOU for geothermal loop-field technology

(EnergyAsia, October 20) — Essential Innovations Technology Corp said its wholly-owned Canadian subsidiary, Essential Innovations Corp, has signed a Memorandum of Understanding giving the company the exclusive global right to market and private label a totally unique geothermal loop-field technology under the EI brand name. Essential Innovations said it will now work hand-in-hand with its...

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TAIWAN: USEC, Taiwan Power sign uranium fuel supply contract worth US$200 million

(EnergyAsia, October 20) — NYSE-listed USEC Inc said it has signed a contract valued at more than $200 million with Taiwan Power Company to supply enriched uranium fuel to the utility’s eight nuclear power reactors. The new contract for the supply of enriched uranium fuel runs from 2009 through 2013.   “This new contract enhances...

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CHINA: COSL celebrates 20th anniversary of serving Tarim Basin

(EnergyAsia, October 19) — Hongkong-listed China Oilfield Services Limited (COSL) said this year marks the 20th anniversary of its entry into the Xinjiang Autonomous Region to provide support services in the Tarim Basin. Marking the event, COSL’s chief operating officer Li Yong and vice president Tang Daizhi led executives and officials at a special celebration....

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SRI LANKA: CENTRAL BANK seeks to protect economy from impact of high oil prices through hedging

(EnergyAsia, October 19) — Sri Lanka’s Central Bank has submitted a proposal to the government to hedge the country’s oil imports from rising, volatile prices.   In a statement, it said that last month, it made a presentation to the President and the Cabinet to “explain the schemes available in the global market by way...

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AUSTRALIA: Hardman Resources and Ugandan government sign MoU

(EnergyAsia, October 19) — Australia’s Hardman Resources Limited said its wholly-owned subsidiary Hardman Petroleum Africa Pty Ltd, operator of the Block 2 joint venture, the government of Uganda, Hardman and partner Tullow Oil plc, have signed a Memorandum of Understanding relating to future investment plans and licence obligations for Block 2.   “We appreciate the...

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COMPANIES: Chevron Energy Solutions to prepare proposal to develop high-efficiency ethanol plants fo

(EnergyAsia, October 19) — Chevron Energy Solutions (CES), a Chevron Corp subsidiary that develops energy efficiency and alternative energy projects, said it will conduct preliminary work to prepare a proposal for the development of highly efficient ethanol production plants for Ethanex Energy Inc, a renewable energy company engaged in low-cost ethanol production.   CES will...

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