of November to settle at just over $88 a barrel. It was the first time in more than a month that it closed below $90 a barrel after failing to break the psychological $100 mark. Traders have now shifted their concerns to possible lower oil demand in the West as the US economy threatens to...
implementing a hydroelectric power project in partnership with the private sector. ADB’s Technical Assistance to Nepal for Preparing the West Seti Hydroelectric Project will be funded by a $300,000 grant from its Regional Cooperation and Integration Fund, a special fund financed out of the bank’s net income to support technical assistance activities. Nepal will contribute...
venture firm, has been declared the winner in a public auction for two hydropower plants in the Philippines. SN Aboitiz Power Hydro Inc placed a successful bid of $325 million for the 75MW Ambuklao and 100MW Binga hydropower plants last week, beating out nearest rival Calaca Power Partners which tendered $305 million. SN Aboitiz Power Hydro...
integrated tertiary oil recovery equipment and technology provider to enhance extraction in China’s Daqing oilfield, said its third quarter net profit rose 80.1% to RMB 43.1 million. (US$1=RMB7.4). Revenue surged 96.3% surge to RMB 82.8 million, thanks to increased sales of enhanced oil recovery and environmental protection products. Its net profit rose 51.8% to RMB 57.5...
contract to supply Canadian Solar (CSI) solar cells worth $60 million a year. Shipments of between 17MW and 22MW with fixed pricing and delivery schedules will start next January. Gintech chairman Scott Kuo said: “Gintech is committed to delivering solar cells of the highest quality at competitive prices to serve our clients. Our goal is...
(EnergyAsia, December 3, Monday) — Finland’s Neste Oil has announced plans to invest 550 million euro in building the world’s largest biodiesel plant in Singapore. (US$1=0.68 euro). The plant will have a design capacity of 800,000 tonnes per year to produce Neste’s proprietary NExBTL renewable diesel. The investment is part of Neste Oil’s strategic goal...
(EnergyAsia, December 3, Monday) — 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. In fact, the document, written by a committee of civil servants, is far from holistic, revealing gaps and contradictions with policies and actual practices....
(EnergyAsia, December 3, Monday) — Two of India’s leading oil companies, Reliance and Essar, are rapidly expanding their refining operations in Jamnagar port city in the northwestern state of Gujarat state. In so doing, they are transforming Jamnagar into a major refining hub serving the region. Essar recently announced a US$6 billion expansion to more...
(EnergyAsia, December 3, Monday) — J. Ray McDermott S. A. (J. Ray) said it has completed its largest integrated deck at its fabrication facility on Indonesia’s Batam Island. The 17,000-tonne Arthit Process Platform (APP) was built for Thailand’s PTT Exploration and Production Public Company Limited (PTTEP) and was loaded out onto the Intermac 650, J....
(EnergyAsia, December 3, Monday) — Flowserve Corporation, US-based leader in the fluid motion and control industry, said it has signed a Memorandum of Understanding with the China National Nuclear Corporation (CNNC) and SUFA Technology Industry Co LTD CNNC (SUFA) for an exclusive agreement to explore forming a joint venture partnership in Suzhou, China. The joint...
(EnergyAsia, December 3, Monday) — Wind and Hydro Summit 2007 will be held in Manila, the Philippines on December 4 and 5. Organiser IQPC decided to bring the event to Asia following the success of similar conferences in Europe. ((adsense)) Experts will speak on the development of wind and hydro projects in Asia, government policies,...
(EnergyAsia, December 3, Monday) — With an eye on Asia’s oil products market, Brazil’s state oil company Petrobras has acquired majority control of ExxonMobil’s Nansei Sekiyu refinery on Japan’s Okinawa island. Petrobras bought the 87.5% stake held by Exxon unit TonenGeneral Sekiyu and plans to invest 100 billion yen to upgrade the 100,000 b/d unit...
(EnergyAsia, December 3, Monday) — China’s oil refiners reduced throughputs in October, aggravating the country’s diesel and gasoline shortages. Amid a nationwide fuel crunch, China’s refineries processed 27.62 million tonnes of crude in October, or about 6.53 million b/d, down from 6.58 million b/d in September. While this was 6% higher compared with October 2006,...
(EnergyAsia, December 3, Monday) — National Hydroelectric Power Corporation Ltd (NHPC), one of India’s major power generation companies, has signed a contract worth over $7 million to implement IFS Applications’ software solutions. NHPC, with over 13,000 employees, plans to become a 20,000 megawatt (MW) company by 2017, and has chosen IFS Applications to support its...
(EnergyAsia, December 3, Monday) — As governments prepare to gather in Bali, Indonesia to discuss the future of the Kyoto Protocol, the UN Development Programme’s latest Human Development Report said the world should focus on combating the impact of climate change that could harm efforts at poverty reduction, nutrition, health and education. The report estimates...