(EnergyAsia, December 19) — IndianOil Corp and Ansals Group, a leading real estate developer in the country, have signed a memorandum of cooperation (MoC) for setting up a chain of gasoline stations in certain projects being built by the Ansals Group. The MoC was signed by A M K Sinha, IndianOil’s retail sales executive director,...

(EnergyAsia, December 19) — UK’s Cairn Energy PLC has set an offer price of Rs160 per share for subsidiary Cairn India Limited to be floated on the Bombay Stock Exchange Limited (BSE) and the National Stock Exchange of India Limited (NSE). (US$1=Rs45). The price implies Cairn India will have a market capitalisation of Rs282.45 billion...

(EnergyAsia, December 19) — Ausfuel has started up its new A$7 million oil depot in Darwin Port, the largest integrated fuel and transport depot in Australia’s Northern Territory state. (US$1=A$1.3).   In opening the depot early this month, the state’s Minister for Business and Economic Development, Kon Vatskalis, said the Territory’s strong economy was delivering...

(EnergyAsia, December 19) — Singapore’s Keppel FELS Limited, a wholly-owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), said it will divest its entire 72% interest in the rig, West Berani, to SeaDrill Asia Limited for US$72 million. The divestment follows the completion of the semisubmersible drilling tender (SSDT), which was delivered on time...

(EnergyAsia, December 19) — GE Energy said it has signed three contracts with the Saudi Electric Company (SEC) worth more than $950 million to supply 23 F-class gas turbines and additional equipment for three power plants that will add 2,900 megawatts of capacity to the kingdom’s electricity grid.   These projects include 15 GE Frame...

(EnergyAsia, December 19) — China Energy Limited last week registered its prospectus for an initial public offer of its shares and a proposed listing on the main board of the Singapore Exchange Securities Trading Limited. China Energy and subsidiary Shandong Jiutai Energy Technology Co Ltd are believed to be the largest producer of dimethyl ether...

(EnergyAsia, December 19) — OPEC sent a message of bold market assertiveness at its December 14 meeting in Abuja, Nigeria by announcing a further output cut of 500,000 b/d and inducting fast-growing new exporter Angola into the organisation, said commodities trader Fimat. The latest cut will take effect February 1 after OPEC had agreed to...

(EnergyAsia, December 18) — BOC, the leading supplier of gases, industrial and safety products in New Zealand, has agreed with Shell New Zealand to buy over the major’s commercial LPG business including its shareholding in Liquigas. The purchase is subject to a ruling by the New Zealand Commerce Commission, which is expected by early 2007....

(EnergyAsia, December 18) — Singapore’s Keppel Singmarine Pte Ltd said it has clinched a S$135 million contract to build a Floating Storage Offloading system (FSO) unit for Lukoil ÐNizhnevolzhskneft, a subsidiary of Russia’s Lukoil Oil Company.   The 28,000 tonnes dwt Ice-Class FSO is a new design by Marine Technology Development Pte Ltd, the design...

(EnergyAsia, December 18) — Australian upstream company Santos said it has “successfully” completed drill stem testing of the Blackbird discovery well in the Nam Con Son Basin off Vietnam. On November 17, the company said it found four oil bearing intervals in the well’s main Middle Dua sandstone target, two of which have now been...

(EnergyAsia, December 18) — From 2006 to 2010, China, Russia, Central and South Asia will experience an unprecedented build-up in their oil and gas pipeline infrastructure due to their increased demand, supply and trade in oil and gas resources. The key players will be building energy pipelines to link China with Russia, Central Asia and...

(EnergyAsia, December 18) — Caltex Australia Limited said it expects an-after tax profit in the range of A$405 million to A$425 million on a replacement cost of sales operating profit (RCOP) basis for the year to December 31 2006.  This compares with an RCOP result of A$414 million (excluding significant items) for the full year...

(EnergyAsia, December 18) — US energy major Chevron Corp said that Western Australia’s environment minister has cleared the way for environmental approval to be granted to the Gorgon gas project subject to conditions.   The minister has upheld the Gorgon proponents’ appeal of the Western Australia Environmental Protection Authority’s June 2006 advisory bulletin that recommended...

(EnergyAsia, December 18) — The Energy Ministers of China, India, Japan, South Korea and the US, which account for nearly half of world oil consumption, issued a joint statement at the end of their special meeting in Beijing on December 16.  The ministers had met to discuss ways to promote energy security, stability, and sustainability....

(EnergyAsia, December 18) — Shell Erneuerbare Energien GmbH and Saint-Gobain Glass Deutschland GmbH, have formed a joint venture to manufacture solar power panel based on advanced copper indium di-selenide (CIS) technology. The joint venture was recently approved by the European Commission.   The new entity AVANCIS KG will start construction of the production facilities with...

(EnergyAsia, December 18) — The weekly spot price of uranium rose more than 10% to a record US$72 a pound for the week ending December 15, said TradeTech’s Nuclear Market Review.   The review said the $7 rise was the largest percentage jump in its 38 years of record-keeping.   It said: “The price increase...

(EnergyAsia, December 18) — Singapore-listed Wilmar International, which is building a biodiesel plant on Jurong Island, has announced four major transactions to merge and consolidate its Asia-based empire of edible oils, palm plantations, grains and processing plants into a US$4.3 billion multinational agricultural company.   Controlled by tycoon Robert Kuok, Wilmar International has offered to...

(EnergyAsia, December 15) — US-based GT Solar Incorporated co-founder and CEO, Kedar Gupta, will retire from the company on December 31, 2006. President Tom Zarrella will lead the company and report to the board of directors.   Dr Gupta co-founded the company with his long time business partner, Jon Talbott, in 1994 with $1,000 between...

(EnergyAsia, December 15) — China plans to begin filling up its third strategic petroleum reserve (SPR) site in Shandong province from next April.   The facility at Huangdao port will have 32 tanks with a total storage capacity of 3.2 million cubic metres. This will meet the country’s demand for three days.   China is...

(EnergyAsia, December 15) — Australia’s North West Shelf (NWS) Venture said it has signed new heads of agreement for the ongoing supply of liquefied natural gas to Japan’s Tokyo Gas Co Ltd.   In a deal starting in April 2009, the participants of Australia’s largest resources project will supply around 530,000 tonnes a year of...

(EnergyAsia, December 15) — Australian uranium exports can be put to military use despite Canberra’s best efforts to prevent this from happening, local anti-nuclear activists warned.   “Our uranium exports can directly and indirectly fuel the fires of future nuclear weapons and further regional insecurities,” said David Noonan of the Australian Conservation Foundation (AFC).  ...

(EnergyAsia, December 15) — India’s National Thermal Power Corporation (NTPC) is planning to build a 2,000 megawatt (MW) nuclear power plant in India’s southeastern state of Tamil Nadu.   Speaking to local reporters, NTPC chairman and managing director T. Sankaralingam said it is not aiming to compete against rival Nuclear Power Corporation Ltd (NPCL). Instead,...

(EnergyAsia, December 15) — Concern about excess oil inventories has re-emerged as an explicit focus of OPEC policy ahead of the group’s December 14 meeting, said commodities trader Fimat. Given towering total OECD inventories — on par as of end-September with the infamous 1998 overhang that pushed WTI down to $10/barrel — and an ominous...

(EnergyAsia, December 15) — US power company Mirant Corporation has announced it has signed an agreement with a Japanese consortium involving the Tokyo Electric Power Co and Marubeni Corp for the sale of its Philippine business for $3.424 billion plus working capital at the closing.   After the payment of related debt (estimated to be...

(EnergyAsia, December 15) — Singapore-based EZRA Holdings Limited, a leading offshore and marine solutions provider, has landed its first contract with the fast-growing Middle East offshore oil and gas industry with charters while strengthening its position in Southeast Asia.   The charters are worth up to S$59 million, excluding extension options. (US$1=S$1.55).   The charters...