assets in the US and Europe, said US consulting firm Floyd Associates. In September 2007 in a complex set of transactions, Dubai proposed to acquire 19.9% of the NASDAQ, placing the Arab nation in an ownership position of a key US stock exchange. Earlier in the year through the state owned holding company for Dubai...
to help fund new energy projects and strengthen working capital. China EnerSave designs, builds, operates and owns new renewable-energy plants, leveraging on China’s growing demand for renewable energy. It owns a waster-to-energy power plant in Huizhou city in Guangdong province, and a 270MW coal-power plant in Henan province....
balances the three policy objectives of economic competitiveness, energy security and environmental sustainability. The policy, comprising six strategies, also sets a target of increasing the value-add to the energy industry from S$20 billion to S$34 billion in 2015, and to triple employment from 5,700 to 15,300. The details of the National Energy Policy Report (NEPR)...
Limited (Keppel O&M), has delivered its second jackup drilling rig for Scorpion Offshore (Scorpion) on time and within budget. The delivery of Offshore Defender comes just five months after Keppel AmFELS completed its first jackup rig for Scorpion earlier this year. A newly established drilling company, Scorpion has contracted Keppel AmFELS to build a fleet...
(SPC) and Technics Oil & Gas, said they have established multicurrency debt issuance programmes. Over the past month, SembMarine and Labroy Marine, have reported losing large amounts of money on the forex markets resulting from their exposure to the falling US dollar. SPC said it has established a US$1 billion programme with Citicorp Investment Bank...
(EnergyAsia, November 21, Wednesday) — Indonesia’s PT AKR Corporindo Tbk (AKR) and Dutch storage specialist Royal Vopak have established a joint-venture oil storage firm, PT Jakarta Tank Terminal, to construct and operate a petroleum terminal at Tanjung Priok Port. The terminal, to be known as Vopak Jakarta Terminal, is a strategic infrastructure project in Jakarta...
(EnergyAsia, November 20, Tuesday) — India’s Tamil Nadu state is proposing to use solar energy to power its cities to reduce dependence on fossil fuels. Solar energy could also be used to electrify the state’s remote rural areas. State agency Tamil Nadu Energy Development Agency (TEDA)is planning to equip 20 cities each with the facilities...
(EnergyAsia, November 20, Tuesday) — COAL MARKETS 2008 will be held in Singapore next January 30 to February 1. Organised by IBC Asia, the conference will bring together coal buyers, producers, traders, shippers, financiers and regional institutions and organisations involved in the energy business. This year’s event will include a new half-day post-conference session on...
(EnergyAsia, November 20, Tuesday) — Malaysia’s Petra Group said it is planning to build a jathropha-based biodiesel refinery in the West Indies. The investment would include a plantation to grow the jathropha crop as feed. Jathropha is rapidly emerging as a sustainable feedstock for biodiesel plants. Petra, which claims extensive experience in the technology and...
(EnergyAsia, November 20, Tuesday) — Iran is selling about 85% of its oil in non-US dollar currencies. Now, its President wants to convince OPEC members to stop accepting the “worthless” greenback and switch to using the Euro and other currencies instead. As tensions escalate between the US and the Islamic regime, President Mahmoud Ahmadinejad told...
(EnergyAsia, November 20, Tuesday) — India’s state power giant NTPC is considering investing in wind power projects to generate a total of 650 megawatts (MW) of electricity.The move comes amid rising natural gas costs to around US$13.14 million British thermal unit (mBTU) on the spot market. NTPC has signed a memorandum with the Asian Development...
(EnergyAsia, November 20, Tuesday) — United Airlines, one of the industry’s leaders, said it may be forced to ground up to 100 of its planes if rising jet fuel prices caused a drop in air travel. Jet fuel prices have surged past $100 a barrel and stayed above that level since last month. United’s warning...
(EnergyAsia, November 20, Tuesday) — Saudi Arabia’s oil exports could fall by as much as 12% this year as the country is restricting supplies as part of its OPEC commitments, said a an HSBC Holdings affiliate. In a special report, Riyadh-based SABB bank predicted Saudi oil production could fall by 6% to around 8.65 million...
(EnergyAsia, November 20, Tuesday) — Laos’ Nam Theun 2 hydropower project is on track to start up in late 2009, said the Asian Development Bank (ADB). The project, which will eventually generate 1,070 megawatts (MW) of electricity, is supported by the ADB with a US$120 million loan. Most of its power will be exported to...
(EnergyAsia, November 20, Tuesday) — Australia risks falling behind China, the US and other major countries in promoting renewable energy production and use, the Australian Conservation Foundation (ACF) warned. The ACF said the country has been set back by the lack of government leadership and a brain drain of Australian renewable energy experts to other...
(EnergyAsia, November 20, Tuesday) — ExxonMobil Corp chief Rex W. Tillerson has called on countries to renew their commitment to “global energy interdependence” to ensure the continued and sustainable supply of energy for the greatest benefit of all people. The chairman and CEO of the US largest energy company said: “Achieving this goal requires that...
revenues over 15 years from the planned Senoro liquefied natural gas (LNG) project in central Sulawesi. The Senoro gas block is operated by state energy company PT Pertamina and privately held Medco Exploration and Production (E&P). Much of the gas will be sold to Japan’s Mitsubishi group which will hold a 51% stake in the...
diversification policy in view of growing uncertainty over world oil and gas supplies and rising prices, said Trade and Industry Minister Lim Hng Kiang. In reply to a question by a local Member of Parliament, he said:“The use of solar energy in Singapore is still very limited. Our total installed capacity for generating solar energy is...
retaining a substantial oil refining capability is essential to the nation’s energy security. “Oil refining is a crucial link in the supply chain for petroleum products. Relying on overseas refineries for our petroleum products would expose all industries and private consumersto unnecessary risk,” said Richard Beattie, Caltex’s group manager for policy, public and government affairs...
area of peatland swamp forest held by the PT Duta Palma palm oil company in the Riau province of Indonesia’s Sumatra province. They are building five dams across three-metre deep canals used in logging and draining peatland for conversion into a commercial palm oil plantation which would breach Indonesian regulations for forest protection and release...
self doubts as industry insiders question the extent and quality of a boom currently underway in South Jeolla province. Designated Korea’s solar energy hub, the sunny province accounts for half the country’s capacity and hosts 276 photovoltaic business centres. But critics including local officials are not impressed. On paper, the province has 176MW of solar-energy...
gas-fired 171MW power plant in Pakistan that will provide additional low-cost electricity to consumers to address a looming power shortage. The $200 million combined cycle low-Btu gas-fired power plant, located in Daharki, District Ghotki, is expected to supply base load power to the national grid. Gas will be supplied from the nearby Mari gas fields....
“clean energy target”, softening his earlier tough stance not to promote renewable energy in any meaningful way. Australia now has a 2% mandatory renewable energy target in place as Mr Howard has largely dismissed renewables such as solar, wind and water power as too expensive. A 15% target would yield the equivalent of an estimated...
of oil and gas deposits in the Tonle Sap lake. The government has set up a new agency, Tonle Sap Basin Authority, to coordinate exploration efforts in a 16,000 sq km area of the Tonle Sap area. The area was designated a UNESCO biosphere in 1997 despite strong opposition from Prime Minister Hun Sen who...
Guangdong province could handle as much as 10 million tonnes by 2010. The projects include the Zhuhai terminal, which was recently approved by Beijing, and the Dapeng terminal which is already in operation. Apart from LNG, Guangdong will also see increased gas supplies delivered by two west-to-east pipelines. The province has set a target calling...