(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...
(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...
(EnergyAsia, March 21) — India’s Petroleum Minister Murli Deora lauded measures in the budget to exempt biodiesel from excise duties. This would help boost consumption of the renewable fuel in India, he said. At the same time, there will be a reduction in the duty on gasoline and diesel, from 8% to 6%, providing...
(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...
(EnergyAsia, March 20) — Pakistan said it is close to reaching an agreement with India and Iran on building a US$7 billion pipeline that would deliver natural gas from Iran to markets in South Asia. Pakistani officials said that all parties are close to agreeing on tariffs and on how to build the line. They...
(EnergyAsia, March 20) — PetroChina Company Limited said it has completed the construction of the Beijing oil and gas pipeline network dispatching center that will enable it to control and operate its main oil and gas transmission lines. The company said the system will help it achieve higher productivity and enhance operation safety. PetroChina...
(EnergyAsia, March 20) — Consultants Wood Mackenzie said Kurdistan in northern Iraq is a petroleum region to watch in 2007. In a recent report, its manager for Middle East upstream research, Iain Brown, said: “Early entrants have shown that it is an area where exploration activities can be successfully concluded, and have trodden a path...
(EnergyAsia, March 20) — US specialty chemical maker Lubrizol is planning build a US$40 million plant in Songjiang district, just outside of Shanghai. The new facility could produce up to 30,000 tonnes of primarily resins, polymers and specialty additives a year for use in coatings for paint, wood, plastic, metal and textiles. The plant will...
(EnergyAsia, March 20) — Despite missing last year’s targets, China’s Premier Wen Jiabao is insisting that the country meets its energy savings and pollution reduction goals for the 2006-2010 period. The Chinese government has set itself the targets of reducing energy use per unit of gross domestic product by 20% and pollution by 10%. However,...
(EnergyAsia, March 20) — Singapore-based oil trader and logistic firm Chemoil Energy said it will pay more than US$72 million for four of the six companies it taking over from Andorra Services. Helios Terminal Corp, Olympic Shipping Pte Ltd, Pine Valley Inc and Cypress Point Inc are all owned by Chemoil’s chairman and CEO Robert...
(EnergyAsia, March 20) — Australia’s CityView Corporation Ltd said it has signed an agreement with Indonesia’s PT Mitra Energy Development to jointly produce liquefied petroleum gas (LPG) in Indonesia. LPG consumption is rising rapidly in Indonesia, as users are switching from higher-priced kerosene. CityView will be assisted in this proposed venture by Quest...
(EnergyAsia, March 20) — Vancouver, Canada-based Xantrex Technology Inc said it has signed an agreement to form a joint venture with Shanghai Power Transmission & Distribution Co Ltd (SPTD) to design, manufacture and sell solar and wind power electronics products exclusively for the renewable energy market in China. The two companies will build a production...
EnergyAsia, March 20) — Sunny tropical Singapore is finally joining the solar energy bandwagon. Prime Minister Lee Hsien Loong last week announced that the government is committing S$170 million into research to produce viable solar power, with the aim of creating a $1.7 billion industry that will employ 7,000 people by 2005. (US$1=S$1.53). At...
(EnergyAsia, March 20) — Noble Group, a Singapore-listed global supply chain manager of agricultural, industrial and energy products, said its coal and coke division will be headquartered in Singapore from April 1. The division is a global player in the sea borne trade of coal and coke products including hard coking coal, semi soft coal,...
(EnergyAsia, March 19) — Singapore Petroleum Company Limited said its wholly-owned subsidiary, Singapore Petroleum Venture Private Limited (SPV), and partners, JECT Corporation (JECT) and Mr Hyung-Min Kim, have each sold off their interests in Korea’s Tiger Oil Corporation (TOC) to STX Energy Co Ltd. The total cash consideration for the sellers’ collective 56.42% equity...
(EnergyAsia, March 19) — Singapore’s China Petrotech Holdings Limited (CPHL) said its wholly owned subsidiary, Petroservices Engineering Inc. (PEI), has clinched a large scale integrated oilfield service contract in China. This is a seven-year production contract awarded by a unit of state-owned Sinopec Group for work on a 15 sq km oil block in Shaanbei,...
EnergyAsia, March 19) — Singapore’s Ezra Holdings Limited, a leading support and marine services provider in Southeast Asia’s offshore oil and gas industry, said it is seeking a separate overseas listing for its wholly-owned production and construction division EOC Pte Ltd. EOC has engaged Pareto Securities ASA to assist in exploring and working towards...
(EnergyAsia, March 19) — French major Total said it has been awarded the South East Mahakam exploration block in the Mahakam Delta off the coast of Indonesia’s East Kalimantan. The company took part in bidding for the 2006 Licensing Round held by Indonesia’s Ministry of Energy and Mineral Resources. Total will be the operator...
(EnergyAsia, March 19) — The African Refiners Association (ARA) said it is preparing members to deal with the impact of “unfair competition” from the “tsunami” of oil products shortly to hit the continent from new refineries in Asia and the Middle East. The one-year-old association (ARA) dealt with this theme at its recent second...
(EnergyAsia, March 19) — India’s fiscal deficit would disappear if the price of crude oil as measured by the Indian crude basket, tops $80 per barrel, said local analysts. The Indian crude oil basket is based on free onboard (FOB) prices of Oman-Dubai sour grade and Brent dated sweet crude in a 57:43 ratio....
(EnergyAsia, March 19) — The Cambodian government has signed an agreement with two companies from China’s Yunnan province to build a 465-million kwh hydropower plant and a power transmission network to meet the country’s growing energy needs. China Yunnan Corporation for International Techno-Economic Cooperation and Yunnan Southeast-Asia Economy and Technology Investment Industrial Co Ltd...
(EnergyAsia, March 19) — New South Wales Premier Morris Iemma has upped the ante on his political rivals by vowing to introduce a bill to include ethanol content in gasoline sold in the state. Mr Iemma said he would call for a minimum of 2% ethanol to be blended into gasoline from September if he...
(EnergyAsia, March 19) — US Industrial Nanotech said it has appointed Al Samah Company to distribute its line of Nansulate¨ of products including the new Nansulate¨ Wrap for use on oil and gas pipelines. Nansulate¨ Wrap was created on the specific specifications for a pipeline project from Brazilian state oil and gas giant Petrobras. Recently,...
(EnergyAsia, March 19) — China’s top oil producer, China National Petroleum Corp (CNPC) has sealed a deal for to explore for oil and gas in Myanmar waters. The Chinese firm recently entered a production-sharing contract (PSC) with state-owned Myanmar Oil and Gas Enterprise (MOGE) for three offshore blocks, AD-1, AD-6 and AD-8, which cover some...
(EnergyAsia, March 16) — American Superconductor Corporation, a leading US energy technologies company, said its wholly owned subsidiary, Windtecª, has signed a multi-million-dollar wind energy system joint development contract with China’s Sinovel Wind Corporation Limited. AMSC also has a prior delivery right to sell future electrical components under the same conditions as other suppliers to...