THAILAND: Chart Energy & Chemicals awarded ethylene project

(EnergyAsia, March 23) — Nasdaq-listed Chart Industries Inc said its wholly-owned subsidiary, Chart Energy & Chemicals, Inc, has been awarded a multi-million dollar contract to supply brazed aluminum heat exchangers, core-in-kettle heat exchangers and cold boxes for the PTT Polyethylene Company Ltd ethylene plant in Map Ta Phut, Rayong in Thailand. Chart said it won...

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CHINA: Third oil reserve site in Huangdao to be filled by mid-2007

(EnergyAsia, March 23) — China will begin topping up its third strategic oil reserve site at Huangdao in Shandon province by the middle of this year, said a senior China Petroleum Chemical Corp (Sinopec) official.   The 2.6 million-tonne (19 million-barrel) Huangdao facility will help China raise its strategic crude oil stockpile towards its goal...

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INDIA: Strategic crude oil stockpile to reach five million by 2012

(EnergyAsia, March 23) — India’s strategic stockpile of crude oil reserves will reach five million tonnes by 2012, and will triple in size in the second phase to follow, said the Petroleum and Natural Gas Ministry. The State Minister for the sector, Dinsha Patel, told parliament that the initial storage sites would be located in...

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AUSTRALIA: Caltex welcomes confirmation of consumer advice on suitability of ethanol petrol blends

(EnergyAsia, March 23) — Caltex Australia has welcomed the release of a study by Orbital Australia on the suitability of ethanol-blended gasoline for use in motor vehicles.    The report was released by the country’s Minister for the Environment and Water Resources Malcolm Turnbull. “The Orbital study confirms that advice being provided to motorists by...

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PHILIPPINES: Oil firms warn of fuel supply disruptions and cost from depot closure decision

(EnergyAsia, March 23) — The Big Three of the Philippines oil industry — Petron Corp, Chevron Philippines and Pilipinas Shell Petroleum — have appealed to the country’s Supreme Court to overturn its decision to shut down key depots in Manila. The depots in the Pandacan district were ordered to be closed after the Supreme Court...

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CHINA: PetroChina’s 2006 net profit rises 6.6% to record RMB142.2 billion

(EnergyAsia, March 23) — PetroChina Company Limited has reported record net profit of RMB142.2 billion for 2006, representing an increase of 6.6% over the previous year.   Its revenue surged 24.8% to RMB688.98 billion. (US$1=RMB7.73). The company said the basic and diluted earnings per share came to RMB0.79, representing an increase of approximately RMB0.04 from...

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AUSTRALIA: Wood Mackenzie report predicts coal seam gas to account for 50% of Eastern Australia supp

(EnergyAsia, March 23) — Coal seam gas (CSG) projects could provide half the natural gas supply needs of Australia’s eastern states by 2020, said Scotland-based consulting firm Wood Mackenzie.   Its report, “Eastern Australia Gas and Power Outlook to 2025 Ð Fitting the pieces together,” examines the outlook for the gas and power market in...

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INDONESIA: First independent oil storage facility being built by Oiltanking

(EnergyAsia, March 23) — Oiltanking, an independent operator of storage tanks for oil products, chemicals and gases, said it has started construction work on Indonesia’s first independent deep water terminal in Cilegon port on Java island.   Subsidiary PT Oiltanking Merak believes the project will play an important role in Indonesia’s recently deregulated oil and...

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CHINA: Oil reserves falling, import dependency to rise

(EnergyAsia, March 23) — China’s proven crude oil reserves slipped a notch in world ranking to 13th place last year while its natural gas jumped from 21st to 15th place in 2005.   The country’s oil reserves plunged more than 12.3% last year to 2.19 billion tonnes, while natural gas reserves surged more than 50%...

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CHINA: GSE authorised to proceed with initial work on nuclear reactor projects

(EnergyAsia, March 22) —- GSE Systems Inc, a leading provider of real-time simulation and training solutions to industry and government, has been authorised by Westinghouse to proceed with the next phase of work that relates to China’s AP1000 reactor projects.   This work will also support Westinghouse’s continued development of the AP1000 reactor design for...

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QATAR: Qatar Petroleum, ExxonMobil complete construction of RasGas Train 5 LNG project

(EnergyAsia, March 22) — Qatar Petroleum and Exxon Mobil Corp said they completed the construction of the RasGas liquefied natural gas (LNG) Train 5 in Doha on March 20. RasGas Company Limited is jointly owned by Qatar Petroleum and ExxonMobil RasGas Inc.   RasGas Train 5, one of the largest LNG plants in the world,...

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JAPAN: ExxonMobil Chemical opens polymers automotive applications center in Kawasaki

(EnergyAsia, March 22) — ExxonMobil Chemical, a unit of the energy major, said it has opened a new Polymers Automotive Applications Center at the site of affiliate Tonen Kagaku KK in Kawasaki, Japan.   The center, opened by Jim Harris, ExxonMobil Chemical Company senior vice president, will support its polymers portfolio including specialty elastomers such...

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BRAZIL: Marubeni established biodiesel production, distribution company

(EnnergyAsia, March 22) — Japan’s Marubeni Corporation said it has established Agrenco Bio-Energia Ltda (ABE) in Brazil to produce biodiesel fuel and soybean meal as a joint venture with Agrenco Group, an international grain trading company.   Marubeni said it will invest US$40 million in taking up a one-third stake in ABE. The Japanese trading...

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CHINA: Northwestern province of Gansu could be site for storage facility

(EnergyAsia, March 22) — China’s northwestern Gansu province is being considered as the country’s fifth location for a strategic petroleum stockpile.   State planners are discussing the possibility of phasing in the construction of a 28 million-tonne facility in the province’s Lanzhou city.   The proposed site will hold both crude and products, or about...

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INDIA: Airlines want government to allow direct imports of jet fuel

(EnergyAsia, March 22) — India’s airlines are urging the government to allow them to directly import aviation turbine fuel (ATF), saying that is would help them reduce costs. The last time they were allowed direct fuel imports, back in 1995, the airlines said they were able to significantly reduce operating costs.   New Delhi is...

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CHINA: National crude oil stockpile at more than 24 million barrels

(EnergyAsia, March 22) — China has socked away more than 24 million barrels of crude into its newly launched strategic oil reserves by the end of February, said the Commerce Ministry. Taking advantage of price weakness on the world markets in January, the government bought 5.8 million barrels for storage at the Zhenhai base. But...

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MARKETS: PWC sees world LNG demand doubling between 2005 and 2010

(EnergyAsia, March 22) — Consulting firm PricewaterhouseCoopers (PWC) said world demand for liquefied natural gas (LNG) is expected to double between 2005 and 2010, with supply seen rising around 40%. In a new report, PWC said LNG’s prospects will not just be shaped by the energy sector.   It said: “Financial institutions, engineering and shipbuilding...

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CHINA: Guangdong province keen to raise stockpiles, cut energy use and pollution

(EnergyAsia, March 22) — China’s Guangdong province has offered to play a key role in stockpiling the country’s strategic oil reserves.   At the recent the fifth session of the 10th National People’s Congress in Beijing, Governor Huang Huahua said his government has submitted a proposal to build new oil storage sites in Zhanjiang and...

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CHINA: Germany’s BASF breaks ground for two new manufacturing plants in Shanghai

(EnergyAsia, March 22) — German chemicals giant BASF said it has broken ground for two new plants in Pudong, near Shanghai in China, that will manufacture polyacrylate polymers and specialty chemicals for leather tanning. The plants will provide customers in the growing Chinese market with a reliable supply of high-quality chemicals. The two plants are...

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PAKISTAN: Company wants Karachi oil terminal removed

(EnergyAsia, March 21) — A private company in Pakistan is pressing the city of Karachi to remove an oil terminal and storage facilities from the port’s Clifton Block-1.   M Naqvi & Company is planning to construct apartment buildings and shops on a piece of land near the block.   It claims that oil tankers...

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CHINA: Nukes deal set to go to France

(EnergyAsia, March 21) — France’s Areva is in line for contracts to build two nuclear reactors in China’s Guangdong province.   China has set a target of deriving 4% of its power requirements from nuclear energy as it seeks to reduce its reliance on oil as an energy source.   Areva has set its sights...

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AUSTRALIA: AGL Energy joins Chicago Climate Exchange

(EnergyAsia, March 21) — Australia’s AGL Energy Limited (AGL) said it has agreed to join the Chicago Climate Exchange (CCX¨), the world’s first voluntary and legally binding greenhouse gas emissions reduction, registry and trading programme.   The CCX is the largest such exchange in the world and traded in excess of 10.5 million tonnes of...

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PEOPLE: Oil and gas software provider Excel Marco names O’leary as non-executive chairman

(EnergyAsia, March 21) — Excel Marco Industrial Systems, a leading automation solutions provider for the offshore oil and gas industry, said it has named John C. G. O’Leary as non-executive chairman.   Mr O’Leary is CEO of Strand Energy, a Dubai based company specialising in business development and growth strategies in the upstream oil and...

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AUSTRALIA: North West shelf venture and Tohoku Electric sign LNG agreement

(EnergyAsia, March 21) — Australia’s North West Shelf Venture and Japan’s Tohoku Electric have signed a heads of agreement for the ongoing supply of liquefied natural gas from Australia’s largest resources project.   In a multi-part deal starting April 2010, the North West Shelf Venture will increase LNG quantities under an existing agreement, convert that...

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MALAYSIA: Shell Refining Company Bhd is fully valued at more than RM10 a share

(EnergyAsia, March 21) — Securities analyst AseamBankers said Malaysia’s Shell Refining Company is fully valued at more than RM10 a share.   In a report, it said that 2007 may prove to be a challenging year for Shell, with average gross refining margins projected to fall to US$4 barrel from US$4.48 in 2006 due to...

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