SINGAPORE: Intertek opens new petroleum laboratory on Jurong Island

(EnergyAsia, December 21, Friday) — Intertek, a world leading provider of testing and inspection services, has opened a new petroleum laboratory inside the Universal Terminal on Singapore’s Jurong Island. Universal Terminal, Asia’s largest commercial oil storage facility, is co-owned by Singapore oil trading firm, Hin Leong Trading, andPetroChina. Intertek said its new laboratory provides important...

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MALAYSIA: Mission Biofuels officially opens first biodiesel plant in Kuantan

(EnergyAsia, December 21, Friday) — Australia-listed Mission Biofuels officially opened its first biodiesel plant and glycerine purification refinery at Kuantan Port in Malaysia earlier this week. The complex, located in a major oleo-chemical handling area, was opened by Malaysian deputy Prime Minister Najib Tun Abdul Razak in Malaysia. The A$27.5 million facility is the first...

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CHINA: Chevron, CNPC to jointly develop gas project

(EnergyAsia, December 21, Friday) — US major Chevron Corporation said its main Chinese subsidiary has signed a 30-year production-sharing contract with state-owned China National Petroleum Corporation (CNPC) to jointly develop the Chuandongbei natural gas area in central China. Chevron will take over the role of operator and hold a 49% stake with CNPC holding the...

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BRUNEI: Shell awards Swiber contract extension

(EnergyAsia, December 21, Friday) — Singapore’s Swiber Holdings Limited, a service provider to the offshore oil and gas industry, said it has received a contract extension from Brunei Shell Petroleum Company Sendirian Berhad (BSP). Swiber said its wholly-owned subsidiary, Swiber Offshore Construction Pte Ltd, has secured a contract extension for the transportation and installation of...

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SINGAPORE: Energy policy fails on vision, end of cheap oil

(EnergyAsia, December 21, Friday) — Singapore has unveiled its first energy policy, calling it a “holistic” approach that balances the three policy objectives of economic competitiveness, energy security and environmental sustainability. However, the document is far from holistic, revealing gaps and contradictions with policies and actual practices.The policy, announced by Trade and Industry  Minister Lim...

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INDIA: AE Biofuels completes 50-million-gallon biodiesel plant in Kakinada

(EnergyAsia, December 21, Friday) — US-listed AE Biofuels Inc, which develop and builds biodiesel and ethanol facilities, said it has completed the construction of a 50-million-gallon-per-year biodiesel plant in Kakinada, India. It has begun building a glycerin refinery adjacent to the biodiesel plant.The additional refining processes will significantly increase the value of the glycerin by-product...

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AUSTRALIA: ExxonMobil, BHP approves Kipper gas project

(EnergyAsia, December 21, Friday) — Australian upstream company Santos has welcomed the announcement by operator ExxonMobil Australia and BHP Billiton that they have approved the Kipper gas project in Bass Strait.ExxonMobil Australia and BHP Billiton each own a 32.5% stake in the project while Santos Limited has the remaining 35% stake.The Kipper gas field was...

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INDONESIA: Energy Ministry & Total sign a Memorandum of Understanding on carbon capture and storage

(EnergyAsia, December 21, Friday) — French major Total said its subsidiary Total E&P Indonesia signed a Memorandum of Understanding between with the Indonesian Ministry of Energy and Mineral Resources last week on the sidelines of the UN Climate Change Conference in Bali.Indonesia’s Agency of Research and Development for Energy and Mineral Resources will be allowed...

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CLIMATE CHANGE: Skepticism grows following surprise US ‘cave-in’ at UN forum in Bali

(EnergyAsia, December 21, Friday) — US President George Bush could well have a surprise for the world after his representative at this month’s UN climate change forum in Bali, Indonesia seemingly “caved in” at the last minute to international demand that the US join in efforts to combat global warming.At the end of the two-week...

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THAILAND: Chevron signs natural gas sales agreement with PTT covering four offshore leases

(EnergyAsia, December 21, Friday) — Chevron Thailand Exploration and Production Ltd said it and its partners have signed a gas sales agreement with PTT Public Company Limited for blocks 10-13 in the Gulf of Thailand. The agreement is expected to boost natural gas supplies from these blocks by 500 million cubic feet of natural gas...

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SINGAPORE: CBM producer Arrow Energy opens international headquarters

(EnergyAsia, December 19, Wednesday) — Arrow Energy, a leading coalbed methane producer listed on the Australian Stock Exchange, officially launched its international headquarters in Singapore last week. The new office, headed by CEO and managing director Nick Davies and supported by commercial vice-president Peter Godfrey, will enable the company to service its growing interests in...

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VIETNAM: Singapore’s Keppel to build waste-to-energy plant

(EnergyAsia, December 19, Wednesday) — Keppel Seghers Engineering Singapore Pte Ltd, the environmental technology division of Keppel Integrated Engineering (KIE), said it has received in-principle approval for the development of a waste-to-energy (WTE) plant from the People’s Committee of Ho Chi Minh City (HCMC) in Vietnam. Featuring Keppel Seghers’ in-house technology, the proposed plant will...

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PAKISTAN: January diesel stockpile to be raised to 14 days of consumption

(EnergyAsia, December 19, Wednesday) — The Pakistani government said it will raise the country’s minimum stockpile of high speed diesel to 14 days of consumption in January and 18 days in February. Pakistan’s diesel inventory last week fell to a perilous new low of 132,000 tonnes or just six days of domestic consumption. Officials worry...

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CHINA: China Wind Systems completes construction of manufacturing facility for wind components

(EnergyAsia, December 19, Wednesday) — China Wind Systems, incorporated as Malex Inc in Delaware, US, said it has completed the construction of a major manufacturing plant in Wuxi city in China. The plant will be used exclusively to manufacture high precision rolled rings and other critical components for use in the wind power industry. Completed...

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CHINA: Japan pledges energy cooperation

(EnergyAsia, December 19, Wednesday) — Japan and China have agreed to cooperate on measures to save energy and cut emissions. Japanese companies will help their Chinese counterparts improve energy conservation and cut carbon dioxide (CO2)  emissions by providing technology and worker training, under a deal reached between the two countries. Earlier this year, Asia’s two...

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MARKETS: World airlines to report lower profits for 2008 on higher fuel costs

(EnergyAsia, December 19, Wednesday) — The International Air Transport Association (IATA) has predicted the industry to report a profit of $5 billion next year compared with $5.6 billion in 2007. It said the US subprime and credit problems along with higher oil prices, assuming a forecast crude price of US$73 per barrel, will offset the...

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CHINA: Agreement with the US to cooperate on strategic oil reserves

(EnergyAsia, December 19, Wednesday) — China and the US, the world’s two largest oil consumers, have agreed to cooperate on a range of energy issues including the use of their strategic petroleum reserves as part of their recently concluded third Strategic Economic Dialogue. Meeting in Beijing last week, China’s Vice Premier Wu Yi and US...

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CHINA: Sinopec keen on stake in Alaska natural gas pipeline project

(EnergyAsia, December 19, Wednesday) — China Petrochemical Corp, or Sinopec, is keen to participate in a proposed pipeline that would deliver natural gas from Alaska’s North Slope to markets in Canada and the US. Sinopec’s rivals for the project include Canadian energy firm TransCanada Corp and US independent ConocoPhillips. Alaska’s North Slope gas reserves are...

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MARKETS: Fimat sees lower oil price next year

(EnergyAsia, December 19, Wednesday) — US commodities broker Fimat believes US WTI crude oil will ease back to around $80 a barrel next year after it “turns the corner” as more oil flows into the market and demand weakens. WTI has been hovering between $86 and $95 a barrel for most of the last two...

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CLIMATE CHANGE: IMF calls for carbon trade to help poor countries

(EnergyAsia, December 19, Wednesday) — The IMF is stepping up its research into the impact of climate change on the world economy, and wants greater use of carbon pricing and trading to help boost revenues in poor countries. It is also advising countries on potential carbon pricing schemes and other tax and fiscal measures that...

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SINGAPORE: Asia Pacific Maritime 2008 to be held March 26-28

(EnergyAsia, December 18, Tuesday) — The 10th edition of the Asia Pacific Maritime will be held at the Singapore Expo from March 26 to 28. The biennial event is described as Singapore’s foremost international maritime event that offers a holistic business experience by combining exhibition, conferences and seminars, and a host of networking sessions that...

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MYANMAR: China stakes out natural gas claim

(EnergyAsia, December 18, Tuesday) — China has won the right to buy natural gas from Myanmar’s largest gas field. Significantly, China beat competing bids from India, which has often come out second best in the race for access to world oil and gas resources. The gas from the Daewoo-operated field will be transported to China...

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PEOPLE: Energy expert Chen Deming to be named Commerce Minister

(EnergyAsia, December 18, Tuesday) — China will promote one of its leading energy experts, Chen Deming, to Commerce Minister, replacing Bo Xilai. Vice-Premier Wu Yi announced his promotion from vice commerce minister at a press briefing last week. Mr Chen, 58, who helped shaped the country’s energy policies at the National Development and Reform Commission...

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AUSTRALIA: Caltex revised down FY2007 net profit forecast

(EnergyAsia, December 18, Tuesday) — Caltex Australia Limited said it expects to report a slight increase in its 2007 after-tax profit in the range of A$435 million to A$460 million compared with last year’s A$430 million. (US$1=A$1.2). The profit outlook range is lower than that announced on November 8 of A$450 to A$500 million as...

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INDIA: US-Iran war would raise oil prices, hit economy hard

(EnergyAsia, December 18, Tuesday) — One of the biggest threats to India’s economic prospects for 2008 is possible military action by the US against Iran, which would drive up world oil prices sharply. At the recent India Economic Summit, former US Ambassador to India, Robert Blackwill, said India needed to grow its economy by more...

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