CHINA: Oxford Princeton Programme CEO to join US women leadership delegation on business visit

(EnergyAsia, February 1, Friday) — Energy and global warming will be among the key issues discussed when a delegation of US political and business women leaders meet their counterparts in several Chinese cities on March 13 to 22. Clara Lippert Glenn, President and CEO of The Oxford Princeton Programme, the world’s leading provider of education (more…)

PEOPLE: Wartsila’s Vitzthum is chairman of World Alliance for Decentralized Energy (WADE)

(EnergyAsia, February 1, Friday) — Christoph Vitzthum, a senior executive at Finland’s Wartsila, has been appointed chairman of the board of directors of the World Alliance for Decentralized Energy (WADE) from January 1, 2008. WADE is an international non-profit research and promotion organization representing global companies as well as industry and environmental groups. WADE’s direct (more…)

MALAYSIA: Palm oil prices soar as biofuels squeeze supplies

(EnergyAsia, February 1, Friday) — Increasing demand for biofuels has squeezed palm oil supplies in Malaysia and sent prices skyrocketing to new record high, causing a mini cooking oil supply crisis.Palm oil prices in Malaysia hit a new high of more than RM3,400 per tonne in mid January. (US$1 = RM3.24).The price surge has led...

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MARKETS: Suncor Energy’s board approves C$20.6 billion oil sands expansion

(EnergyAsia, February 1, Friday) — A day after reaching a new royalty deal with the Alberta government in Canada, Suncor Energy said its board of directors has given final approval to a C$20.6 billion investment that is expected to boost crude oil production at the company’s oil sands operation north of Fort McMurray by 200,000 barrels...

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CHINA: Qatar Investment Authority, Singapore’s Keppel to help build Tianjin eco-city project

(EnergyAsia, February 1, Friday) — Singapore’s Keppel Corp said it has signed a Memorandum of Understanding (MOU) with the Qatar Investment Authority (QIA) to participate as an equity investor in a consortium to build an ecological city in China’s Tianjin city. QIA’s definitive participation is subject to further discussion.The 30 sq km eco-city site straddles...

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ASIA: ADB and partners provide seed funding for renewable energy and energy efficiency projects

(EnergyAsia, February 1, Friday) — The Asian Development Bank (ADB) and its development partners are setting up a facility that will provide seed capital for renewable energy and energy efficiency projects in the Asia-Pacific region amid growing energy demands and high oil prices.ADB and the UN Environment Programme (UNEP) are developing the Seed Capital Assistance...

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MARKETS: US Department of Energy consultant criticises CERA study

(EnergyAsia, February 1, Friday) — CERA, the leading critic of the ‘peak oil’ theory, has come under fire for not being transparent with its analysis and data concluding that the world will not face an imminent oil production drop as the world’s main 811 producing fields are declining by ‘only’ 4.5% per year.CERA, led by...

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CHINA: Suntech supplies solar modules for Belgian town hall roof top project

(EnergyAsia, February 1, Friday) — China’s Suntech Power said it is participating in a solar-energy system constructed for the roof of the town hall in Genk in Belgium.The project was engineered by Netherlands-based Oskomera Solar Power Solutions (OSPS) in collaboration with Belgium-based ENECO Energie. The system consists of approximately 1,260 Suntech solar modules with a...

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ENERGY: Suncor Energy’s board approves $20.6 billion oil sands expansion

(EnergyAsia, February 1, Friday) — A day after reaching a new royalty deal with the Alberta government, Suncor Energy said its board of directors has given final approval to a $20.6 billion investment that is expected to boost crude oil production at the company’s oil sands operation north of Fort McMurray by 200,000 barrels per day...

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TAIWAN: Mosel Vitelic signs five-year contract with LDK Solar worth $150 million

(EnergyAsia, February 1, Friday) — Taiwan’s Mosel Vitelic Inc said it has signed a five-year contract to buy multi-crystalline solar wafers from China’s LDK Solar Co Ltd. The deal is worth $150 million, with delivery starting this year.Mosel, which entered the solar cell production in 2006, said the pricing is fixed for the first three...

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WORLD: IMF expects economic growth to slow, with US particularly hard hit

(EnergyAsia, January 31, Thursday) — Weighed down by recent financial market turbulence and a weakening US economy, the world economy is projected to grow at a slower rate of 4.1% this year, down from an estimated 4.9% last year, said the IMF in its quarterly update. Financial market strains originating from the US subprime mess (more…)

CHINA: Gushan Environmental Energy Limited opens Beijing biodiesel plant

biodiesel, said its 50,000-ton-per-year Beijing plant has started production. The plant will be raised to 100,000 tons by the fourth quarter. “We are pleased to announce the commencement of production at our Beijing plant. Construction of this plant was completed ahead of our original schedule and within our prior estimated budget. We believe this milestone...

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CHINA: Fujian LNG terminal to add two more storage tanks

tanks at its liquefied natural gas (LNG) import terminal in Fujian province. The company said it began construction of tanks number 3 and 4 on January 14 in response to the country’s growing demand for clean burning fuel. The two tanks will be ready by 2011. CNOOC said it expects to complete the main part of...

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CHINA: Political stability threatened as freak snow storm inflicts nationwide fuel and food crisis

severe freak snow storm that has caused widespread disruptions to fuel, power and food supplies across a large part of the central and southern regions. Fearing this is turning into a political crisis, Beijing has appointed Premier Wen Jiabao to take charge of relief efforts following two weeks of harsh wintry conditions that have claimed...

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CHINA: A-Power licensed to produce and sell Fuhrlander’s 2.5 MW wind turbine

Chinese subsidiary, Liaoning GaoKe Energy Group, has obtained a licensing agreement to produce and sell Fuhrlander AG’s 2.5 MW series wind turbine in China. Fuhrlander will also assist GaoKe in developing a plant in Shenyang city modeled after Fuhrlander’s plant in Germany, with completion expected in mid-2008. Fuhrlander will help ensure the wind turbines are...

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INDIA: Downstream company MRPL said latest quarterly profit surged 194% to Rs3.47 billion

Ltd (MRPL), a subsidiary of upstream giant ONGC, said its latest quarterly net profit surged 194% to Rs3.47 billion. (US$1=Rs40). MRPL said revenue for the October-December quarter rose 11% to Rs93.2 billion. Refining throughput fell 10% to 3.02 million tonnes due to a shutdown for maintenance of its secondary refining units in the last two...

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NEPAL: Diesel, kerosene shortages worsen

trucks queue up outside fuel outlets in key cities awaiting fresh supplies. Shortages of diesel and kerosene have spread throughout the country, hitting the impoverished economy further. This week, oil traders told owners of cars, buses and trucks that fuel supplies were no longer available in most fuel outlets, forcing the nation’s major highways to...

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MARKETS: Europe could ban import of certain types of biofuels

certain types of biofuels that it claims are actually harming the environment. Green groups have successfully lobbied the EU to consider banning the use of biofuels produced from crops grown on scarce rainforests, wetlands and grasslands. The 27-member powerful EU bloc has been confronted with growing evidence that plantation owners are engaged in unsustainable environmental...

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SINGAPORE: SPC’s 2007 net profit up 78.6% to S$508.3 million

by 78.6% to S$508.3 million on strong demand and high margins for its refined products. (US$1=S$1.42). Revenues rose 2.2% to while basic earnings per share shot up by 78.5% to 98.78 Singapore cents. Chairman Choo Chiau Beng said: “SPC chalked up a historic Profit After Tax and Minority Interests (PATMI) of S$508.3 million in 2007. This...

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CHINA: Flowserve awarded contract to supply pumps to two nuclear power plants

(EnergyAsia, January 31, Thursday) — Flowserve Corporation, a leading global provider of fluid motion and control products and services, said it has been selected to provide the China Nuclear Power Engineer Co Ltd with concrete volute pumps for the first phases of its Hongyanhe and Ningde nuclear power plant projects. The order is worth a (more…)

INDONESIA: Talisman Energy acquired 3.06% Tangguh LNG stake from CNOOC

(EnergyAsia, January 30, Wednesday) — Canada’s Talisman Energy Inc said a subsidiary has acquired all the shares of CNOOC Wiriagar Overseas Limited from a subsidiary of China’s CNOOC Ltd for US$212.5 million. Talisman effectively acquired CNOOC Wiriagar Overseas Limited’s 3.06% stake in the Tangguh LNG Project on January 1 2008. The project in Indonesia’s West (more…)

SINGAPORE: AsiaClear cleared more than US$4.7 billion of trades in 2007, services over 160 accounts

(EnergyAsia, January 30, Wednesday) — Singapore Exchange Limited (SGX) said its SGX AsiaClear unit has cleared more than US$4.7 billion worth of oil and commodity trades last year while securing over 160 trading accounts. This represents a more than 12-fold increase in value of trades cleared and more than doubling of counterparty network over 2006. (more…)

SINGAPORE: Keppel FELS completes second jackup rig for Qatar

(EnergyAsia, January 30, Wednesday) — Keppel FELS Limited (Keppel FELS), a wholly-owned subsidiary of Singapore’s Keppel Offshore & Marine Limited (Keppel O&M), said it has completed the construction of its second jackup drilling rig for Gulf Drilling International Ltd (GDI), a joint venture between Qatar Petroleum (QP) and Japan Drilling Co Ltd (JDC).At a ceremony...

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PAKISTAN: Oil firms lack cash for diesel imports

(EnergyAsia, January 30, Wednesday) — Pakistan’s energy supply shortages will likely worsen this year as oil companies do not have enough funds to pay for imports, in particular diesel.The oil companies said they are unable to participate in buying tenders for March and April, raising the spectre of a fuel crisis by the end of...

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