(EnergyAsia, November 2) — Singapore-based China Aviation Oil Corp (CAO) has announced plans to sell off its 5% stake in the Spanish oil storage and logistics firm Compania Logistica De Hidrocarburos SA (CLH) as part of its settlement package with creditors agreed on May 24 2005. Once high-flying CAO, listed on the Singapore Exchange,...
(EnergyAsia, November 2) — Malaysia LNG Tiga Sdn Bhd, a subsidiary of state-owned Petronas, has signed sale and purchase agreements (SPA) with China’s Shanghai LNG Company Ltd to supply up to 3.03 million metric tonnes of liquefied natural gas (LNG) annually for 25 years. Petronas said the agreement was signed on July 31. The...
(EnergyAsia, November 2) — Grifco International Inc, a US-based provider of oil and gas service equipment to the oil and gas industry, said it has received a purchase order for equipment for use in a southwest oilfield operator by state Sinopec. Lee He, Grifco’s agent in China for the past 15 years, helped secure the...
(EnergyAsia, November 2) — The Asian Development Bank (ADB) said it is partnering with Beijing’s Tsinghua University to establish a regional knowledge hub in China on climate change. The knowledge hub is to be established under an ADB grant and expertise that is setting up centers of excellence in the region to support and strengthen...
(EnergyAsia, November 2) — Hongkong-listed CNOOC Limited said it has started production at the Caofeidian (CFD) 11-6/12-1S fields in Bohai Bay. The unitised CFD 11-6/12-1S fields are located in 04/36 and 05/36 blocks in average water depth of 22-30 meters. The development facilities of CFD 11-6/12-1S fields include three wellhead platforms, two of which are...
(EnergyAsia, November 2) — Thai state upstream company PTT Exploration and Production Public Company Limited (PTTEP) said it has set up four new subsidiaries to carry out petroleum exploration and development activities in different countries. They include PTTEP Bahrain Co Ltd, PTTEP Holding Co Ltd, PTTEP Indonesia Co Ltd and PTTEP Bengara I Co Ltd....
(EnergyAsia, November 2) — Last month’s overdue launch of Australia’s Bass Straits natural gas project by Victoria state Premier Steve Bracks has been hailed as the addition of a significant new source of gas supply for the country. Operator Origin Energy and its joint venture partners AWE, CalEnergy and Wandoo Petroleum Mitsui group of companies...
(EnergyAsia, November 2) — Australian upstream company Santos has reported its highest ever quarterly production of 16.6 million barrels of oil equivalent (mmboe), placing the company on track to achieve its annual production guidance of a record 60 to 61 mmboe for the full year. Santos said the record production for the three months...
(EnergyAsia, November 2) — Denmark’s Maersk Contractors said it has secured a contract for lease of a 375 ft jack-up rig to drill from Total E&P Borneo at its Maharaja Lela field off Brunei. The rig is the first of two identical jack-up drilling rigs presently under construction at Jurong Shipyard in Singapore. The...
(EnergyAsia, November 1) — Ouhua Energy Holdings Ltd, China’s third-largest liquefied petroleum gas (LPG) distributor, is hoping to raise S$52 million by selling 137 million shares through an initial public offering in Singapore. The company is offering to sell 90 million new shares and 47 million vendor shares at S$0.38 each. (US$1=S$1.57). Ouhua Energy,...
(EnergyAsia, November 1) — Taiwan’s government plans to promote the island’s growing solar sector and photovoltaic power generation. It wants the country’s photovoltaic output to reach NT$213 billion by 2015 from just NT$7 billion this year. (US$1=NT$32). State planners will provide assistance to polysilicon firms, especially in the area of raw material shortage. It...
(EnergyAsia, November 1) — Oil prices could still slip further after sinking to their lowest levels for the year last month. For most of October, WTI benchmark crude futures kept below US$60 a barrel on growing fears the US economy could be headed for a nasty recession next year. Sentiments have turned sharply and unpredictably...
ld (EnergyAsia, November 1) — Global Process Systems said its Mobile Offshore Production Unit (MOPU) supplied to oil and gas operator Petrofac has started up at the Cendor field in Block PM034 off the coast of Malaysia. The unit is connected to a spread moored floating storage and offloading unit (FSO) via a flexible...
(EnergyAsia, November 1) — Global Process Systems said its Mobile Offshore Production Unit (MOPU) supplied to oil and gas operator Petrofac has started up at the Cendor field in Block PM034 off the coast of Malaysia. The unit is connected to a spread moored floating storage and offloading unit (FSO) via a flexible submarine pipeline....
(EnergyAsia, November 1) — Emerson Process Management, a business of NYSE-listed Emerson, said it has been awarded the fiscal metering contract for the Fujian LNG-import terminal project in China. The terminal being constructed in Fujian province will be owned and operated by CNOOC Fujian LNG Co Ltd, a joint venture between China National Offshore...
(EnergyAsia, November 1) — In the first nine months of 2006, the carbon market grew to nearly $22 billion, more than doubling in value over the almost $11 billion recorded in 2005. This and other current statistics are revealed in the State of the Carbon Market Report update released by the World Bank and the...
(EnergyAsia, November 1) — Asian Development Bank (ADB) said it will help provide reliable and cheaper power supply to the province of Sihanoukville and its adjacent areas in southern Cambodia through a US$20 million loan. Sihanoukville, a fast growing city, has Cambodia’s only deep-sea port and is a major export-processing zone. It is currently being...
(EnergyAsia, November 1) — The government of Bangladesh has appointed the Washington DC-based International Finance Corporation (IFC) to play a lead advisory role in designing an efficient framework for increasing private investment in the country‘s power sector. FIC said it will initially provide advisory services on design and implementation of a 450 megawatt independent...
(EnergyAsia, November 1) — Singapore-listed Rotary Engineering Limited said its wholly-owned subsidiary, Rotary IMC Pte Ltd, has secured contracts worth S$15.5 million from Shell Eastern Petroleum (Pte) Ltd for “early works” on its Bukom refinery project. Rotary is a leading provider of engineering, procurement, construction and maintenance services supporting the oil-and-gas and petrochemical industry. (US$1=S$1.57)....
(EnergyAsia, November 1) — Thai state upstream company PTT Exploration and Production Public Company Limited (PTTEP) has released its latest financial statements for the third quarter of 2006. For the quarter, the company and its subsidiaries reported total revenues of Baht 23,896 million, an increase of Baht 3,910 million or 20% over the same quarter...