(EnergyAsia, January 24) — Talisman (Vietnam 15-2/01) Ltd, a wholly owned subsidiary of Canada’s Talisman Energy Inc, has announced that the Hai Su Trang (HST) exploration well off the coast of Vietnam has tested with significant oil rates. The well is located in Block 15-2/01, 50 miles off the east coast of Vietnam on trend...
(EnergyAsia, January 24) — Investors will be looking to build an oil storage facility to serve an industrial hub in Pakistan’s southwestern province of Balochistan after the completion of the country’s first Single Point Mooring (SPM) floating jetty in October. The US$60 million SPM jetty in Khalifa Point, near the Hub Industrial area, will...
(EnergyAsia, January 24) — The Pakistani government has defended itself and the oil industry from mounting criticism of price gouging and profiteering against consumers as two years of high oil prices have sharply boosted inflation in the country. The government has had to face tough questions from the Supreme Court and the National Assembly...
(EnergyAsia, January 24) — Indonesia’s state-owned oil company Pertamina said it will shut down low-volume oil depots throughout the country to help reduce the threat of persistent fuel supply shortages. Instead, it will concentrate its stockpiling in large storage facilities. Indonesia has been plagued by fuel shortages in recent years as rising world prices...
(EnergyAsia, January 24) — A crude oil storage terminal will be built in the oil hub of Jamnagar district in India’s northwestern state of Gujarat to serve an oil refinery being built by the Bharat Petroleum Corp. The storage terminal will be linked by a 950-km pipeline to the refinery in Bina in Madhya Prdaesh...
(EnergyAsia, January 24) — Vietnam’s two-decade-long struggle to build its first oil refinery received a vote of confidence this week when French bank BNP Paribas agreed to provide the government a 13-year, US$300 million loan for the project. The loan for the Dung Quat refinery in central Vietnam, has a three-year grace period and...
(EnergyAsia, January 24) — Saudi Aramco has been offered a stake in India’s three upcoming refineries at Bina, Bhatinda and Paradip located in different states in the country. India’s Petroleum Minister Murli Deora made the offer during a meeting with his Saudi counterpart, Ali Al-Naimi, in New Delhi last week. Aramco reciprocated by inviting...
(EnergyAsia, January 24) — The Asian Development Bank (ADB) said it is providing a US$3 million technical assistance grant to study the potential for regional electricity trading that would help optimise utilisation of power resources in both Central and South Asia. The study will prepare a proposed power trading project that would, in its initial...
(EnergyAsia, January 24) — Encouraged by the government, oil companies are stepping up their investment in storage facilities in China. The China Chamber of Commerce for the Petroleum Industry said private companies now own up to 70% of the country’s total oil storage capacity, and half its retail fuel outlets. Privately owned Yixin...
(EnergyAsia, January 24) — Kuwait briefly reduced crude oil output by 20,000 b/d or 2% of its normal production following a fire at its Shuaiba refinery on January 17. The reduction was taken as a precautionary measure, said the Kuwait National Petroleum Company (KNPC). Product exports from the ageing 200,000 b/d plant, which is...
(EnergyAsia, January 23) — Singapore Petroleum Company Limited said its wholly-owned subsidiary, Singapore Petroleum (China) Private Limited (SP China), and its joint venture partner, Jiangmen City Gas Corporation (JCGC), have each sold their 50% interest in Jiangmen City Sinjiang Gas Co Ltd (Sinjiang) to Zhuhai Gas Co Ltd for a total cash consideration of RMB57.8...
(EnergyAsia, January 23) — Korean Air Lines Co and its affiliate Hanjin Shipping Co have made a bid to buy a combined 28.4% stake in S-Oil Corp, the country’s third-largest oil refiner, as a long-term hedge against rising jet and bunker fuel prices. The buyers will need to raise between two and three trillion won...
(EnergyAsia, January 23) — Indian industry association FICCI has put unveiled an ambitious plan to boost innovation in the country’s biotechnology and renewable fuels sector as well as generate jobs and income. FICCI said the plan could generate some US$5 billion a year in sales for the sector and create about one million jobs...
(EnergyAsia, January 23) — New Zealand’s government has published a draft of its strategy for developing renewable energy sources aimed at reducing dependence on fossil fuels, carbon dioxide emissions and boosting the share of clean fuels. The plan examines the full range of renewable power sources Ð wind, geothermal, solar, biofuels, hydro and others sources....
(EnergyAsia, January 23) — Two of Asia’s largest downstream oil companies, Japan’s Nippon Oil and Korea’s SK Corp, said they will form a capital and business alliance to strengthen their competitiveness on the world market. They will each acquire a symbolic one percent stake in each other, investing a total of nearly US$100 million. ...
(EnergyAsia, January 23) — Yemen has approached India’s Oil and Natural Gas Corp (ONGC) for help in building its first oil refineries, said visiting Oil and Minerals Minister Khalid Mahfoudh Dahah at an oil conference in New Delhi last week. “We have approached ONGC to set up the refineries in our country with a...
(EnergyAsia, January 23) — Azerbaijan’s giant Shah Deniz field in the Caspian Sea recently began producing natural gas. With a 25.5% working interest, Norway’s Statoil is responsible for selling output from this BP-operated discovery as operator for the Azerbaijan Gas Supply Company. The gas in Shah Deniz corresponds to two-thirds of the 1,325...
(EnergyAsia, January 23) — Thai state oil company PTT Plc is still interested to list its oil refinery affiliate Star Petroleum Refining Co (SPRC) on the local stock exchange, said PTT president Prasert Bunsumpun. Talks with Chevron Corp, which owns 64% of SPRC, broke down last year over the timing of the listing and the...
(EnergyAsia, January 23) — ABB, the Switzerland-based power and automation technology group, has won a $42-million contract from the main electricity transmission company in the Indian state of Karnataka for a system to monitor and control the network. The Zurich-headquartered firm said it will provide Karnataka Power Transmission Corporation Limited (KPTCL) with a network management...
(EnergyAsia, January 23) — German auto giant DaimlerChrysler is ready to set up a jatropha-based biodiesel project in India. Together with partners from India’s Central Salt and Marine Chemicals Research Institute and Germany’s University of Hohenheim, DaimlerChrysler is moving to implement the project’s second phase which will focus on income and employment opportunities for...
(EnergyAsia, January 22) — The Chinese government said it has launched a campaign to reduce the use of coal by industries by 100 million tonnes a year by 2010. The powerful National Development and Reform Commission (NDRC) wants some 1,000 firms which account for one third of the country’s total energy consumption to submit...
(EnergyAsia, January 22) — Australian upstream firm Woodside Petroleum said high commodity prices and record oil and gas production of 67.9 million barrels of oil equivalent (boe) helped it report record revenue of A$3.81 billion for 2006. (US$1=A$1.3). Its oil and gas output, boosted by first production from the Chinguetti oil and Enfield oil...
(EnergyAsia, January 22) — RAE Systems Inc, a San Jose, California-based provider of rapidly deployable sensor networks for detecting safety and security threats in real time, said it has won an exclusive contract with the Dushanzi division of PetroChina to provide fixed toxic and combustible gas detection equipment at the construction site for a new...
(EnergyAsia, January 22) — India’s Multi Commodities Exchange (MCX) has begun spot offering contracts for trade in agricultural commodities this month. The new National Spot Exchange will be a holding company for trading of non-perishable commodities in various Indian states. Another exchange, the Safal National Exchange, will handle perishables such as fruits and vegetables. ...
(EnergyAsia, January 22) — The Asia Development Bank (ADB) said its officials will be speaking at this week’s Delhi Sustainable Development Summit (DSDS) 2007, whose theme will be assessing progress on meeting the UN Millennium Development Goals, focusing on exploring the natural resource dimensions of sustainable development. ADB said its delegation will be headed...