(EnergyAsia, October 9, Tuesday) — Australia’s Queensland state could face social upheaval, high food prices and a sudden and drastic change in lifestyle from an oil shock, said a government report. The report, prepared by a team of top geologists, scientists and industry exports, warns that oil sustained at more than US$80 a barrel could deliver...
(EnergyAsia, October 9, Tuesday) — China is planning an “eco-city” that could be home to 400,000 people on Chongming island off Shanghai city. Construction on an 86-square-kilometre site is expected to start next year, said Peter Head, director of engineering firm Arup. All energy sources on Dongtan eco-city would be from renewable sources and gasoline-fuelled...
(EnergyAsia, October 9, Tuesday) — Crude oil prices could easily hit US$150/barrel and production could peak within 20 years, former Shell chairman Lord Oxburgh warns. He also accused the oil industry of not doing enough to address the impending crisis. “We may be sleepwalking into a problem which is actually going to be very serious...
(EnergyAsia, October 9, Tuesday) — China Oilfield Technology Services Group Limited, a provider of tertiary oil recovery equipment and technology to enhance oil extraction in China’s Daqing region, is hoping to raise nearly S$127 million through its initial public offering on the mainboard of the Singapore Exchange. (US$1=S$1.48). The company began offering 211,607,000 shares at...
(EnergyAsia, October 8, Monday) — NYSE-listed Praxair Inc and Foster Wheeler North America Corp, a US subsidiary of Nasdaq-listed Foster Wheeler Ltd said they have signed a multi-year agreement to jointly undertake demonstration projects that will incorporate clean coal technologies and integrated oxy-coal combustion systems into coal-fired electric generating plants to capture and sequester carbon...
(EnergyAsia, October 8, Monday) — The World Bank is planning to raise $250 million to launch a fund to encourage developing countries to stop deforestation in exchange for access to carbon credits has attracted strong international support. Officials are calling on investment from public and private sector bodies to start the proposed Forest Carbon Partnership...
(EnergyAsia, October 8, Monday) — Virginia, US-based AES Corp has set up a joint venture with China’s Guohua Energy Investment Co Ltd to develop, own and operate a 49.5MW wind farm in Hebei province, with start-up by 2009. Guohua Energy is one of China’s leading producers of renewable energy. Through the joint venture, AES will...
(EnergyAsia, October 8, Monday) — Japan’s Mitsubishi Heavy Industries Ltd (MHI) has signed an agreement with Ningxia Electric Power Group Co Ltd (NXEPG), a Chinese electricity provider, under which MHI will purchase emission credits generated from a Clean Development Mechanism (CDM) project. MHI said it will purchase emission credits obtained from a wind farm to...
(EnergyAsia, October 8, Monday) — KLD Research & Analytics Inc has announced the launch of its KLD Global SustainabilitySM Index (GSI) and Index series. The new index consists of a broad representation of top environmental, social and governance (ESG) performing companies across all sectors in North America, Europe and the Asia Pacific. The GSI and...
(EnergyAsia, October 8, Monday) — India’s earnings from oil product exports are expected to exceed $20 billion this financial year to March 31 2008, entrenching the sector as the country’s largest foreign exchange earner. Oil now exceeds earnings from the gems and jewellery sector. According to the Ministry of Petroleum, oil’s foreign exchange earnings of...
(EnergyAsia, October 8, Monday) — UOP LLC, a Honeywell company, is accelerating research and development efforts on renewable energy technology to convert vegetable and algal oils to military jet fuels. The project, backed by a $6.7 million fund from the Defense Advanced Research Projects Agency (DARPA), aims to develop and commercialise a process to produce...
(EnergyAsia, October 8, Monday) — Engineering giant Foster Wheeler Ltd said its global engineering and construction subsidiaries and its joint venture partner have been awarded contracts by ExxonMobil Asia Pacific Pte Ltd for project co-ordination and services and the engineering, procurement and construction (EPC) of a number of downstream units and associated plant infrastructure for...
(EnergyAsia, October 8, Monday) — GE Energy will beef up its Asia regional role in Singapore with a new team focusing on its power turbines business worth at least US$1.5 billion a year, said GE Singapore President Colin Low. More than 20 senior executives with legal, commercial, risk management, finance and application engineering expertise will...
(EnergyAsia, October 8, Monday) — Joint US-China Cooperation on Clean Energy (JUCCCE), an NGO aiming to significantly reduce China’s carbon footprint, said it will help distribute 10 million energy efficient light bulbs to the country’s citizens and train the mayors of hundreds of cities to reduce their environmental impact. Both programs will be undertaken in...
(EnergyAsia, October 5, Friday) — Standard Chartered said it will take a leading role in the financing of new renewable and clean energy projects in Asia, Africa and the Middle East, with the biggest pledge in the bank’s history at the Clinton Global Initiative. The pledge, which amounts to $8-10 billion, will involve a five-year...
(EnergyAsia, October 5, Friday) — Australia’s science agency CSIRO and the Bureau of Meteorology have released a report which provides the most comprehensive look to date at the likely extent of climate change in Australia up until 2070. The report is based on a thorough assessment of the latest available science, particularly global climate modelling,...
(EnergyAsia, October 5, Friday) — Singapore Petroleum Company Limited (SPC) has expanded its presence in China by acquiring offshore producing oilfields and exploration working interests in Bohai Bay for US$223 million. Through its wholly owned subsidiary, SPC E&P (China) Pte Ltd, SPC won a competitive bid for 100% of the shares of Sino-American Energy Corporation,...
(EnergyAsia, October 5, Friday) — China’s Trina Solar, a vertically integrated manufacturer of solar photovoltaic products, has agreed to supply its products to Italy’s EniPower. The contract is the result of a letter of intent signed in April 2007 by Trina Solar CEO Jifan Gao and EniPower CEO Enrico Grigesi. Both parties agreed then to...
(EnergyAsia, October 5, Friday) — HSBC Corporate, Investment Banking and Markets (CIBM) has launched the HSBC Global Climate Change Benchmark Index, together with a family of four investable global climate change sub indices. The benchmark index, developed by CIBM’s Global Research team, is a world reference index which has been designed to reflect and track...
(EnergyAsia, October 5, Friday) — Japan’s Kyocera Corporation said it is the sole supplier of photovoltaic modules for a super-large-scale solar electric generating system in Salamanca, Spain that will meet the needs of about 5,000 private households. The Planta Solar de Salamanca incorporates about 70,000 Kyocera PV modules in three separate arrays on a 36-hectare...
(EnergyAsia, October 5, Friday) — US-based First Solar has decided to invest $150 million in a 120 MW manufacturing plant in Malaysia. The new plant is scheduled to start production in the first half of 2009 and will be built adjacent to two previously announced plants currently under construction in Malaysia with a combined capacity...
(EnergyAsia, October 5, Friday) — Germany’s Siemens Power Generation (PG) said it has received an order to supply its most advanced wind power technology to New Zealand’s largest wind farm. State-owned Meridian Energy Ltd, New Zealand’s largest electricity producer, has ordered 62 Siemens turbines for its West Wind project, located 15 km west of Wellington...
(EnergyAsia, October 5, Friday) — Trouble continues to dog the construction of Vietnam’s badly delayed first oil refinery at Dung Quat. In the latest incident, security personnel clashed with a group of workers at the project site. The workers were allegedly caught trying to steel iron from the site. Looting and robbery at the site...
(EnergyAsia, October 5, Friday) — Environmental lobby group Rainforest Action Network (RAN) said it will target its new campaign at the financial industry for promoting dirty energy like coal, and shift it to support ‘clean energy’. RAN said its research uncovered Citi and Bank of America as having “extensive investments” in the coal industry. ((adsense))...
(EnergyAsia, October 4, Thursday) — Ministers from key oil and gas producing countries from the Middle East countries will be speaking at a Middle East-Asia energy security summit in Singapore in November. Mohamed bin Dha’en Al Hamili, UAE’s Minister of Energy and Minerals, and President of OPEC, and Ali Al Naimi, Saudi Arabia’s Minister of Petroleum...