(EnergyAsia, November 9, Friday) — The Asian Development Bank (ADB) said it is helping Pakistan develop an energy model to meet the needs of an expanding economy.ADB is extending a $2 million grant for Pakistan’s Integrated Energy Model project, estimated to cost $2.5 million. The government of Pakistan will cover the balance.Pakistan’s medium-term development framework...
No publication today, November 8 2007...
(EnergyAsia, November 7, Wednesday) — Asia’s economies are forecast to continue their strong growth into 2008, said the IMF in its Regional Economic Outlook (REO) report for Asia and the Pacific.The report said the region is expected to achieve economic growth of 8% in 2007 before moderating to 7.2 percent next year.((adsense))Growth continues to be...
(EnergyAsia, November 7, Wednesday) — The consortium of Keppel FELS Brasil S/A and Technip Brasil Engenharia, Instalacoes e Apoio Maritimo S/A (Technip), FSTP Pte Ltd, has secured a US$1.2 billion contract to build a semisubmersible floating production unit (FPU) for Petrobras Netherlands BV (PNBV). FSTP is a 75/25 consortium company between Keppel Offshore &...
(EnergyAsia, November 7, Wednesday) —- The New Zealand government has launched an innovation fund to encourage innovations that will lead to increased use of solar water heating and adoption of water heating technologies. Jeanette Fitzsimmons, government spokesperson on energy efficiency and conservation, said the EECA fund will contribute up to 50% of the cost...
(EnergyAsia, November 7, Wednesday) —- US law firm Coughlin Stoia Geller Rudman & Robbins LLP said a class action has been filed in the District Court for the Southern District of New York on behalf of all shareholders of China Sunergy Co Ltd during its initial public offering on or about May 17, 2007....
(EnergyAsia, November 7, Wednesday) — Nasdaq-listed American Superconductor Corporation, a leading energy technologies company, has formed a new division known as AMSC China to serve the growing wind energy, power grid and industrial markets in China. The company recently received an enterprise business license from the Chinese government to form a wholly foreign-owned enterprise...
(EnergyAsia, November 7, Wednesday) —- Thai state-owned PTT Exploration and Production Public Company Limited (PTTEP) said its third quarter net income rose 3.4% to 7.046 billion baht while revenues edged up 1% to 24.03 billion baht compared with the same period last year. (US$1=S$1.45). Its expenses fell 0.2% to 11.339 billion baht. For the...
(EnergyAsia, November 7, Wednesday) — JPMorgan and Singapore’s Chemoil Energy Limited (Chemoil) said they have formed a strategic alliance relating to the joint development of business opportunities across their global platforms. The relationship contemplates ways of working together to cross market products to clients, by using JPMorgan’s leadership in the international commodities derivatives markets...
(EnergyAsia, November 7, Wednesday) — China could lead the world in wind energy development and play a larger role in combating climate change, according to a report by the Chinese Renewable Energy Industries Association (CREIA), Greenpeace and Global Wind Energy Council (GWEC). The China Wind Power Report 2007, released at last week’s Wind Power...
(EnergyAsia, November 7, Wednesday) — GE Energy said four of its ecomaginationSM certified Jenbacher coal mine methane gas engines are generating electricity at a power plant in Shentangzui in China’s Shanxi Province. China is expanding its installation of distributed power systems to meet its growing energy demand. The project ties in with the country’s...
(EnergyAsia, November 7, Wednesday) — Several Australian universities and state science agency CSIRO have teamed up in an A$11 million effort to unlock stranded offshore oil and gas reserves through improved subsea pipeline design. (US$1=A$1.08). The Wealth from Oceans National Research Flagship’s Collaboration Cluster on Subsea Pipelines (CCSP) unites the research capabilities of The University...
(EnergyAsia, November 6, Tuesday) — Amid growing fears of world oil supply shortages, Singapore has announced plans to promote motor sports as a new growth industry.US crude futures broke through $90 a barrel in the week that Community Development Youth and Sports Minister Vivian Balakrishnan said his ministry and private companies will invest in a...
(EnergyAsia, November 6, Tuesday) — South Korea’s Central Bank has identified rising oil prices rather than geopolitical tensions in Northeast Asia or the US subprime crisis as the biggest threat to the economy next year.The central bank had forecast US crude oil price to average $64 a barrel this year. Instead, oil has stayed above...
(EnergyAsia, November 6, Tuesday) — The Oiltanking Group said its oil and gas storage project in Merak in West Java in Indonesia will be operational next November. The two main contractors, PT Rotary Engineering Indonesia and PTMcConnell Dowell Indonesia, have started constructing the facility’s tanks, pipelines, jetties and truck loading bays.With the tank and jetty...
(EnergyAsia, November 6, Tuesday) — NYZE-listed Yingli Green Energy Holding Company Limited, a leading vertically integrated photovoltaic (PV) product manufacturer in China, said it has signed a new supply contract and an associated supplementary contract to replace its 1,232-ton polysilicon supply arrangements with Sichuan Xinguang Silicon Science and Technology Co Ltd of China.Under the original...
(EnergyAsia, November 6, Tuesday) — China Solar Power (Holdings) Ltd (CSP), Tano China Private Equity Fund II (TCPEF II) and Japan’s ULVAC Inc have formed a strategic alliance to enter the thin film solar module market in China.The alliance aims to develop CSP into the leading manufacturer of thin film solar modules in China and...
(EnergyAsia, November 6, Tuesday) — ABB said its products used in a coastal wind farm in China’s east coast passed the test of 50-km per hour winds in a major storm in September.The wind farm of Jiangsu Longyuang Wind Power Company, the country’s largest, are equipped with ABB turbines designed to tap the power of...
(EnergyAsia, November 6, Tuesday) — Australian upstream company Santos said it has acquired various assets in Bangladesh, including a 37.5% interest in the Sangu gas field and a portfolio of exploration acreage from UK’s Cairn Energy PLC.The net average gas production from the Sangu field to September 30 was 34 million cubic feet per day...
(EnergyAsia, November 6, Tuesday) — Singapore Petroleum Company Limited (SPC) said it has increased its shareholding in Australia’s Cue Energy Resources Limited to 10.02%. This follows SPC’s earlier announcements dated 23 July, 3 and 17 August, and 15 October 2007.From October 16 to 30, SPC acquired 3,303,842 Cue Energy shares for investment purposes in the...
(EnergyAsia, November 6, Tuesday) — Australian upstream company Origin Energy is expanding into the renewable energy business with its joint venture with Geodynamics to develop geothermal energy in Australia.Origin has signed a binding Heads of Agreement to take a 30% stake in an unincorporated joint venture covering the South Australian geothermal tenements and associated assets...
(EnergyAsia, November 6, Tuesday) — IBC Asia’s SEATRANS 2007 event will be held in at the Grand Hyatt hotel in Shanghai, China on November 26-27.The event will incorporate the International Dry Bulk Review 2007, Ports and Liner China 2007, and Bunkering in Asia 2007.((adsense)) SEATRANS 2007 is a one-stop-shop information and networking centre and three...
(EnergyAsia, November 5, Monday) — Singapore’s central bank said sustained high oil prices and a slump in US consumer spending are the biggest threats to its economy next year.In its twice-yearly macroeconomic review, the Monetary Authority of Singapore said its two key concerns are the possibility of a sharp downturn in US consumer spending arising...
(EnergyAsia, November 5, Monday) — Pakistan and Iran have agreed to a clause that allows for the price of natural gas supplies piped in from the Middle East producer to be revised every three years. The gas will flow through the proposed Iran-Pakistan-India (IPI) pipeline project.The clause states that the price will be set according...
(EnergyAsia, November 5, Monday) — Thailand’s state energy giant PTT expects its troubled talks with Iran over liquefied natural gas (LNG) deliveries to be postponed to early next year.Last year, Iran agreed to supply Thailand three million tonnes of LNG per year from its giant Pars gas field.However, the two sides have not agreed on...