(EnergyAsia, November 5, Monday) — India may yield to Iranian demands to include a price revision clause in their protracted negotiations over proposed natural gas sales from the Middle Eastern country. Together with Pakistan, Iran and India have been planning to build a natural gas pipeline to connect Iranian gas fields to end users in...
(EnergyAsia, November 5, Monday) — Two prominent oil industry figures have lent their voices to the view that the world will soon have to deal with the issue of peak oil.Agreeing with the German-based Energy Watch Group’s assessment that peak oil had arrived, legendary Texas oilman T. Boone Pickens said world oil output reached its...
(EnergyAsia, November 5, Monday) — With world oil prices rising to record levels, Malaysians are bracing themselves for another sharp rise in domestic fuel prices in early 2008.Higher fuel costs in turn will spark another round of inflation, but the government will have little choice as fuel subsidies are a huge drag on the country’s...
(EnergyAsia, November 5, Monday) — Resource-rich Indonesia expects its economy to grow by 6.2% this year and 6.3% in 2008, its fastest rate in 11 years. But the country is in no position to celebrate yet.The rising value of its liquefied natural gas (LNG), mineral and commodity exports will more than offset the growing burden...
(EnergyAsia, November 5, Monday) — As world crude price closed in on the $100 a barrel barrier, India is coming under increasing pressure to reduce fuel subsidies and raise domestic prices.China raised its pump prices by 9-10% on November 1 in response to a spreading fuel supply shortfall across major cities, giving hope that India...
(EnergyAsia, November 5, Monday) — China’s oil demand growth is unlikely so slow after the government agreed to last Thursday’s near 10% hike in the domestic prices of gasoline, diesel and jet fuel.Bowing to pressure from the oil companies and strong consumer demand, the government raised the prices of the three oil products by 500...
(EnergyAsia, November 5, Monday) — KYOTOenergy and Sesdaq-listed industrial waste management firm ecoWise Holdings have jointly developed and sold carbon assets to Japan’s Kansai Electric Power Company in the carbon credit transaction issued from a CDM project in Singapore. Kansai Electric is Japan’s second largest utility company.The UN-sanctioned Clean Development Mechanism (CDM) offers industries a...
million euro contract by AzerEnerji, the state-owned Azerbaijan electricity company, to build a 104 MWe combined heat and power (CHP) plant in Guba town, 165 km north west of the capital Baku. Wartsila said it will equip the plant with 12 Wartsila 20V34SG generating sets with a total electrical output of 104 MWe. The electricity...
southern provinces over a worsening fuel crisis that appears to have caught the government by surprise. Diesel and gasoline supplies are in short supply as the government has refused to let pump prices rise to international market levels, fearing it would lead to runaway inflation. The oil companies like refiner Sinopec and PetroChina have cut...
alliance with its affiliates China Solar Power (Holdings) Ltd (CSP), Tano China Private Equity Fund II and ULVAC Inc of Japan. The parties signed the agreement in Chigasaki, Japan last month to enter the thin film solar module market in China by partnering with ULVAC, a leading manufacturer of thin film solar cell production lines....
agreement with Russia’s Nitol Group. Moscow-based Nitol Group, which produces trichlorosilane and is constructing a polysilicon production facility, will supply Trina Solar with virgin polysilicon sufficient to produce over 200MW of modules in aggregate. While the delivery of polysilicon will start in 2009, Trina Solar will have the opportunity to purchase polysilicon in 2008 from...
stocks, including an eyebrow-raising 3.1 million barrel drop at the NYMEX delivery point of Cushing, Oklahoma, sent oil futures steeply up on Oct. 31, reversing earlier losses, said commodities broker Fimat. This increases the likelihood that NYMEX crude prices will soon reach $100/barrel, given the strong open interest in call options at that strike level....
offshore oil and gas industry, continues to build its deepwater service capabilities with the award of a contract for a second 27,000 brake horsepower (bhp) multi-functional support vessel to Karmsund Maritime Service AS of Norway. This follows the earlier purchase of a similar vessel in September. The orders are worth 620 Norwegian kroner each. Both...
Singapore’s Keppel Offshore & Marine Limited, said it has delivered an anchor handling tug supply (AHTS) vessel to Gulfmark Offshore Inc on schedule. The 140-tonne bollard pull vessel was christened Sea Cheyenne by Mrs Rex Carroll Ross, wife of Mr Rex Ross, Director of Gulfmark Offshore, at a naming ceremony earlier this week. This is...
around S$6.3 billion in a new worldscale integrated solar manufacturing complex in Singapore. The complex, to be developed in stages, will incorporate wafer, cell and module production facilities and will have the potential to become the world’s largest complex of its kind. Fully developed, the manufacturing complex could have a production capacity of 1.5 GW....
(EnergyAsia, November 2, Friday) — The International Monetary Fund (IMF) said the Middle East must deal with rising inflation and high unemployment at a time when its economic outlook is positive. The agency made the comment in its October 2007 Regional Economic Outlook: Middle East and Central Asia (REO). ((adsense)) Mohsin Khan, the IMF’s director...
(EnergyAsia, November 2, Friday) — StocExpo will organise its second annual Storage Terminal Operators’ Conference & Exhibition Middle East in Bahrainon November 19-20. Last year’s StocExpo Middle East was held in Dubai. ((adsense)) StocExpo said Bahrain was chosen for its proximity to the major markets of Saudi Arabia and Kuwait and for its easy reach...
million by 2012, said to new study. Oil product exports earned just US$30 million in 1999 and $57 billion last year. The country’s products exports have grown by 73% over the past three years, making India a leading oil product exporter in Asia today, said the study by the Associated Chambers of Commerce and Industry...