(EnergyAsia, April 19) — Saudi Aramco said it recently signed a contract with Russian construction contractor Stroytransgaz to construct the new Shabab-2 Pipeline capacity expansion project. Ali A. Al-Ajmi, vice president of project management, signed on behalf of Saudi Aramco while Evegny A. Laurentiev, senior vice president of Stroytransgaz, signed on behalf of the...
(EnergyAsia, April 19) — Hong Kong-listed oil logistics provider Titan Petrochemicals Group Limited said it has agreed to sell Titan Taurus, a single-hulled 254,991 dwt Very Large Crude Carrier (VLCC) built in 1992, to Korea Line Corp for US$41 million. The sale of the vessel represents an unaudited gain of approximately US$7.88 million for Titan....
(EnergyAsia, April 19) — In its latest report, ‘Eastern Australia Gas & Power Outlook to 2025’, consultant Wood Mackenzie said that natural gas is the most economically viable fuel to meet realistic reductions in greenhouse gas emissions from power generation in eastern Australia. The Australian state and territory governments have proposed a National Greenhouse...
(EnergyAsia, April 19) — An announcement by Hong Kong-listed Hans Energy to build what it claims will be China’s largest crude oil terminal and the largest oil storage facilities in southern China has been met with doubts in the industry. Hans Energy said it has signed a non-binding agreement with the municipal government of...
(EnergyAsia, April 19) — China’s proven crude oil reserves will only meet 11 years of consumption, down from previous estimates of between 14 and 15 years if no new reserves are found, said the Ministry of Land and Resources. The ministry said China’s total recoverable oil reserve stood at 2.04 billion tons as of...
(EnergyAsia, April 18) — India may need to invest up to Rp120 billion to establish a piped gas distribution system in the next few years to replace the use of more costly liquefied petroleum gas (LPG). (US$1 = Rp42.8). The money would be raised through private-public partnerships. Cities covered in the first phase of...
(EnergyAsia, April 18) — The team in charge of developing Saudi Arabia’s Manifa heavy crude oilfield told Aramco’s exploration and producing senior vice president Abd Allah S. Al-Saif at a progress update meeting that the offshore project is proceeding on schedule. Mohammad A. Al-Juwair, general manager of Aramco’s Southern Area Projects, was also present. ...
(EnergyAsia, April 18) — Horizon Singapore Terminals Pte Ltd said it will be investing another S$90 million to build 266,000 cubic metres of clean product storage capacity on Singapore’s Jurong Island. (US$1=S$1.5). The project to add 23 new tanks will take place under its third phase of expansion, confirming its position as a leading independent...
(EnergyAsia, April 18) — Trafigura, a leading international commodities trader, said it has signed an agreement giving it exclusive use of a new world-class oil storage facility and terminal at the southern Malaysian port of Tanjung Langsat. This came about after Malaysia’s Dialog Group Berhad (DGB), through wholly owned subsidiary Dialog Equity Sdn Bhd...
(EnergyAsia, April 18) — China’s overall refining capacity could reach 450 million tonnes/year by 2012, up from around 350 million tonnes/year now. Most of the additions will take place in the eastern coastal regions, but there will also be expansion in the south and west. State oil companies Sinopec and China National Petroleum...
(EnergyAsia, April 18) — The Sri Lankan government said it has restored an abandoned oil storage facility in the Jaffna peninsula with the help of the Ceylon Petroleum Corporation (CPC) and Sri Lankan navy personnel. The 12,000-ton fuel tank at the Kankesanturai cement complex has been left unused for the last two decades due...
(EnergyAsia, April 18) — This course provides participants with a basic knowledge of tools, techniques and working methodology used by refinery economists both for short term and long term evaluations. Oxford Princeton Programme, in association with Shell Global Solutions, will present the course at the Marriott Hotel in Singapore from April 23 to 27....
(EnergyAsia, April 18) — Anglo-Arab company Dragon Oil has completed the construction of Turkmenistan’s first foreign-owned oil refinery. The refinery will have an initial production of capacity of 2.5 million tonnes a year. Ireland-based Dragon Oil, which is 52% owned by Dubai’s Emirates National Oil Corporation Company (ENOC), has plans to double the capacity...
(EnergyAsia, April 18) — East Asia especially China must address the challenges of pollution, environmental degradation and widening income gaps to protect their long-term economic prospects, the World Bank said last week. Ten years after the 1997 financial crisis which brought many Asian countries to the brink of collapse, the region is in much better...
(EnergyAsia, April 18) — US energy company ConocoPhillips said it will establish an eight-year, $22.5 million research programme at Iowa State University to develop technologies that produce bio-based renewable fuels. The grant is part of ConocoPhillips’ plan to create joint research programmes with major universities to produce viable solutions to diversify America’s energy sources. ...
(EnergyAsia, April 17) — Shell Eastern Petroleum (Pte) Ltd has decided to proceed with the construction of a new butadiene extraction unit on Bukom Island in Singapore. The plant will have an initial capacity of 155,000 tonnes per annum and is part of the world-scale Shell Eastern Petrochemicals Complex (SEPC), targeted for start-up by 2010....
(EnergyAsia, April 17) — Tabreed, a leading Middle East district cooling pioneer, has signed a US$100 million revolving credit facility with a group of financiers led by BNP Paribas to fund further the company’s expansion. The facility has an initial maturity of one year and is subject to two 12 month extension options at each...
(EnergyAsia, April 17) — AREVA, the world’s largest business group in the nuclear energy field, and Japan’s Mitsubishi Heavy Industries Ltd (MHI) have confirmed the fast deployment of their alliance in the nuclear energy area, as established last October. Anne Lauvergeon, CEO of AREVA, and Kazuo Tsukuda, President of MHI met in Tokyo last...
(EnergyAsia, April 17) — Flowserve Corp, a US-based provider of fluid motion and control products and services, has opened a new pump manufacturing facility in Coimbatore, India. The US$8.5 million facility will support the company’s existing Indian operations and provide pump products, for the oil and gas, power and chemical industries. The plant was inaugurated...
(EnergyAsia, April 17) — Australian upstream company Santos said it has entered into an agreement with ExxonMobil, Oil Search and Nippon Oil to jointly undertake a detailed pre-FEED study of a standalone LNG project based on the Hides gas field in Papua New Guinea. The joint study will evaluate technical and commercial merits of developing...
(EnergyAsia, April 17) — World leaders will have to start preparing for the devastating effects of climate change as floods, droughts and extreme weather conditions will destroy livelihoods, turn tens of millions of people into refugees and cause conflicts within and among nations. In the second of four reports, experts and scientists for the...
(Energy, April 17) —- Mitsubishi Heavy Industries, Ltd (MHI) said it has received successive orders for gas turbine combined-cycle (GTCC) power generation systems from Korea Western Power Co Ltd (KOWEPO) and Korea District Heating Corporation (KDHC). The two orders are respectively for KOWEPO’s Gunsan power station and KDHC’s Paju combined heat and power plant. Both...
(EnergyAsia, April 17) — Asia Carbon Group, a company providing a one-stop carbon advisory and online carbon trading service, said its Indian operations, Asia Carbon Emission Management India Pvt Ltd (ACEMI), recently marked its first year of operation. The group said ACEMI has made inroads in the Indian carbon market through an integrated approach of...
(EnergyAsia, April 17) — “Biofuels & Feedstocks Philippines”, to be held in Manila, Philippines next month, will be opened by President Gloria Macapagal-Aroyo. The event will serve as a bridge between the government and the private enterprise to focus on issues facing the Philippine’s biofuels sector. Officials will provide more details of the country’s plans...
(EnergyAsia, April 17) — Texas Energy Holdings International, a wholly owned subsidiary of Texas Energy Holdings Inc, a privately held energy investment firm focused on developing oil and gas fields, said it has started up an office in Japan. Texas Energy Holdings International has engaged Japan-based venture capital firm iOCS Corporation to manage the company’s...