(EnergyAsia, March 20, Wednesday) — ‘Seafarers 2008’, an event by IBC Maritime, will be held at the Grand Copthorne Waterfront, Singapore from May 7 to 8. The conference will focus on manning issues with an emphasis on the emerging sources of seafarers. It aims to present insights and strategies that will support operations, capital cost (more…)
(EnergyAsia, March 20, Thursday) — Singapore’s Keppel FELS Limited, the wholly-owned subsidiary of Keppel Offshore & Marine Limited, said it will build a third KFELS B Class jackup drilling rig worth about US$205 million for PetroVietnam Drilling & Well Services Corp’s subsidiary PetroVietnam Drilling Investment Corp. This latest unit and PVD Invest’s second rig PV (more…)
(EnergyAsia, March 20, Thursday) – Singapore’s marine fuel trader Chemoil Energy said it will add 500,000 to 600,000 cubic metres to its new jointly owned Middle East terminal in Fujairah by 2010. When completed, the terminal, a joint venture with Gulf Petroleum Supplies, will have the capacity to store 650,000 cubic metres. Chemoil is using...
joint operating agreement (CDOA) to develop a massive US$10 billion liquefied natural gas (LNG) project in Papua New Guinea. The agreement covers issues related to governance, upstream operations, pipeline arrangements and gas liquefaction. The signatories include operator ExxonMobil (41.6%), Oil Search (34.1%), Santos (17.7%), AGL (3.6%), Nippon Oil (1.8%) and Landowner interests (1.2%). The...
company, Guizhou Puzheng Mining Co Ltd, with state-owned enterprise and integrated coal producer, Jianxi Province Coal Group Company. The new company will engage in the exploration and mining of coal and other mineral resources in Guizhou and other regions in the country. China Natural Resources owns 64% of the shares while Jianxi Province Coal holds...
Agency (WBREDA) said it will be setting up a solar energy park in the Purulia district. It is targeting to attract investments of between Rs6 billion and Rs8 billion over the next two years. The projects, to be built on 120 acres of land, will generate about 30 MW to 40 MW of power. WBREDA’s...
(EnergyAsia, March 19, Wednesday) — Australia’s Origin Energy said it has purchased Woodside Petroleum Limited’s 62.5% interest in the VIC/P37(V) exploration permit off the south west Victorian coast for A$13.6 million. (US$1=A$1.05). The permits contain the Halladale and Black Watch gas and condensate fields, and the acquisition provides Origin with 100% ownership of the permit. (more…)
(EnergyAsia, March 19, Wednesday) — India’s petrochemical producers will favour buying naphtha from domestic oil refiners after the government imposed a new 5% import tax on the product from last month. The refiners are also expected to reduce their naphtha exports. For the fiscal year ended 31 March 2007, India’s naphtha exports soared 60% to...
(EnergyAsia, March 19, Wednesday) — Saudi Arabia’s state energy company Aramco is selling its 40% in the Philippines’ largest oil refiner, Petron Corp, to the London-based Ashmore investment group for 22.5 billion billion peso. (US$1=41 peso). At a time of world oil supply uncertainties and record prices, the sale is seen as a blow to...
(EnergyAsia, March 19, Wednesday) — The renewables bandwagon is becoming a runaway train, thanks to the full-scale global panic over continuously rising oil, gas and coal prices. The open market prices of the three fossil fuels, the source of 85% of the world’s energy needs, has been on a relentless climb in recent months, driven (more…)
(EnergyAsia, March 19, Wednesday) — India’s demand for liquefied petroleum gas (LPG) is projected to hit 11 million tonnes this year, up from 10.2 million tonnes in 2007. The product is sold at a subsidised price of Rs21 per kg for domestic users while industry has to pay Rs58 per kg (US$1=Rs40). This price difference...
(EnergyAsia, March 19, Wednesday) — India’s state Oil Industry Development Board (OIDB) will underwrite the entire cost of building the strategic storage of crude oil, said the Ministry of Petroleum and Natural Gas. In response to rising world oil prices, the Indian government announced its decision in September 2005 to establish the country’s first strategic...
(EnergyAsia, March 19, Wednesay) — Westport Innovations Inc, leading developer of gaseous-fuelled power technologies, said it has received certification from the Australian Department of Infrastructure, Transport, Regional Development for its high pressure direct injection (HPDI) liquefied natural gas (LNG) fuel system adapted to the 2008 Cummins ISX heavy-duty engine to the 2008 Australian Design Rules (more…)
(EnergyAsia, March 19, Wednesday) — As oil and gas prices stayed near record high levels, the newly elected South Korean government said it has cut fuel taxes by 10% to help keep the economy from stagnating. The tax cut will be effective from this month. The administration of recently elected President Lee Myung-bak also granted...
(EnergyAsia, March 19, Wednesday) — India, China and Brazil must intensify efforts to improve energy efficiency to avoid further explosive growth in their energy demand and greenhouse gas emissions over the next few years, said the World Bank. The bank reckons that the three countries alone will account for well over 40% of growth in...
(EnergyAsia, March 19, Wednesday) — US major Chevron Corporation said its subsidiary, Chevron Australia Pty Ltd, plans to develop a new liquefied natural gas (LNG) project, based on its 100%-owned Wheatstone natural gas discovery in Australia. Located on the northwest coast of mainland Australia, the facility will initially include at least one five-million-ton-per-year LNG production...
security, Taiwanese lawmakers are looking into legislation to end CPC’s monopoly on importing liquefied natural gas (LNG). Taiwan is one of Asia’s third-biggest liquefied natural gas (LNG) buyers after Japan and South Korea. The new legislation would allow LNG customers such as Taiwan Power to lease terminal capacity from state-controlled CPC. Taiwan Power could...
emerging markets, said it is providing political risk insurance for a hydroelectric power plant in Sri Lanka. This project was developed in cooperation with the Overseas Private Investment Corporation (OPIC), which will provide financing and reinsurance for the plant. Zurich is providing political risk coverage to the US sponsor of the five-megawatt hydropower plant on...
(EnergyAsia, March 18, Tuesday) — China is the single largest provider of small arms to Sudan, having sold over $55 million worth from 2003-2006 (the latest year for which data is available), as the worst violence took hold in Darfur, said a new human rights report. While other countries were decreasing their arms sales to (more…)
million grant for environmentalists to work with Brunei, Indonesia, Malaysia and the Philippines to draw up a plan to protect the region’s seas and rainforests which are being damaged at an alarming rate. The region is home to the Coral Triangle, which has the highest marine biodiversity in the world, as well as the Heart...
installed nuclear power capacity by 30% to just over nine million kilowatts (KW) last year. The country has a total of 11 nuclear reactors generation almost 63 billion KW in 2007, up 14.6% from 2006. However, nuclear energy accounts for only just under 2% of the country’s total energy capacity. Beijing aims to increase...
government of Shandong province to help restructure and upgrade a number of the province’s local private refineries. The move comes as CNOOC is seeking to further expand its downstream refining business to help meet the country’s soaring oil demand growth. In return, CNOOC and other state oil companies are lobbying Beijing to lift its prices...
has come under fire from villagers who claim that they have not been adequately compensated for having been displaced. IOC acquired 3,300 acres of land for the project some seven years ago and insists it compensated affected villagers. About 1,800 families have lost land and homes to make way for the project. The 15-million-metric-tonne-per-year...
Rs85 billion for FY2008 and Rs100 billion for FY2009, compared with just Rs45 billion for the current fiscal year ending March 2008. (US$1=Rs40). The increased expenditures will come in addition to any major acquisitions the company might make. IOC is working to build major refining and petrochemicals projects in Panipat, Koyali and Paradip. It...
analysts who think world oil production may not exceed 100 million b/d. Last year, the CEOs of France’s Total and US integrated oil firm ConocoPhillip broke ranks with the industry by openly doubting that world oil production would reach that psychologically important figure. ExxonMobil and the US government believe production would reach 115 to...