it plans to invest in a liquefied natural gas (LNG) project in Australia if an opportunity comes up. CPC is looking to Australia for reliable long-term LNG supplies to meet Taiwan’s growing demand pegged at 7% per year. CPC’s investment would include both upstream and downstream operations in Australia, the company said. In January, the...
ratify a regional agreement among Southeast Asian governments to stamp out trans-boundary pollution and smog from land clearance. Indonesia’s Parliament last Thursday (March 13) unanimously refused to endorse a bill that would have helped ratify the agreement among the 10-member Association of Southeast Asian Nation (ASEAN) governments. As a signatory, Indonesia would have committed to...
(EnergyAsia, March 17, Monday) — US major Chevron Corp said it and its partners will invest about US$3.1 billion to construct the shallow water Platong Gas II natural gas project in the Gulf of Thailand. Due to start up in the first quarter 2011, Platong Gas II, located 200 km offshore, is designed to add (more…)
(EnergyAsia, March 17, Monday) — ‘Fundamentals of Energy Futures’, a workshop offered by the Oxford Princeton Programme, will be held in London on April 7 and Singapore on April 14. This introductory course on energy futures, contracts and markets is a highly interactive workshop which includes a trading simulation and a comprehensive review of the (more…)
(EnergyAsia, March 17, Monday) — Petroleum Economists, one of the world’s most recognised energy publishing brands, has released three books: Fundamentals of Carbon Capture & Storage Technology, Fundamentals of the Global LNG Industry 2007 and Fundamentals of the Global Oil and Gas Industry 2007. Fundamentals of Carbon Capture & Storage Technology Carbon capture and storage (more…)
services, announced that it has completely taken over Niigata Worthington in Kawasaki in Kanagawa prefecture, Japan after acquiring the remaining 50% stake it did not own. Niigata Worthington, a premier manufacturer of certain Flowserve pumps and other rotating equipment, reported sales of approximately $64 million in 2007. Flowserve recorded approximately $2 million for its 50%...
Alimaong in the Philippines to jointly develop more than 1.2 million acres of ancestral land for the cultivation of the jatropha crop to produce biodiesel. The tribe will grow the crop on its under-used lands on the island of Mindanao. Rene Q. Lacsina, president of Abundant Biofuels Philippines Inc, said the venture is a...
runs out. Abu Dhabi National Oil Company (ADNOC), which is leading those efforts, said it is committed to building a sustainable economy and the protection of the environment. The company is taking a 60% stake in new ventures that focus on renewable energy. ADNOC chief executive Yousef Omair bin Yousef said: “We must take the...
production at three new natural gas fields in the Gulf of Thailand. New supplies from the Arthit, Arthit North and Block A18 fields will add 28 million cubic metres per day to production. The new gas is desperately needed to meet Thailand’s growing domestic demand, projected to increase 10% per year through 2012. High international...
a wholly-owned subsidiary of China Huaneng Group, for S$4.235 billion in cash. (US$1=S$1.38). The deal is expected to be completed by March 24. Temasek said the sale of Tuas Power, one of the three major power generation companies in Singapore, marks the completion of a competitive and rigorous bidding process which began last October when...
was promoted as a sunrise industry and a solution to combat fight global warming. Of the three plants built on Jurong Island, two have stopped or will soon stop production, while the third is operating well below the capacity. There would have been a fourth plant, but agricultural group Wilmar relocated its project to...
(EnergyAsia, March 14, Friday) — Singapore Petroleum Company Limited (SPC) said it has raised its stake in Australian upstream company Cue Energy Resources Limited to approximately 14.06%. SPC has been steadily buying into Cue Energy with announcements of its growing stakes posted to the Australian Securities Exchange (ASX) since last July. In its latest announcement, (more…)
(EnergyAsia, March 14, Friday) — Invensys Process Systems said it demonstrated its enhanced SimSci-Esscor PRO/II 8.1.2 software solution at the World Heavy Oils Congress from March 10 to 12 in Edmonton city in Canada’s Alberta province. New capabilities apply the precision of conventional oil simulation software to the unique and specialised processing and modeling requirements...
(EnergyAsia, March 14, Friday) — Chinese wafer manufacturer LDK Solar said it has signed an eight-year ‘take-or-pay’ contract to supply multicrystalline solar wafers to South Korea-based Hyundai Heavy Industries. LDK Solar will deliver 450 MW of multicrystalline solar wafers to the Korean firm over an eight-year period starting in late 2008 through 2015. Hyundai Heavy...
(EnergyAsia, March 14, Friday) — Los Angeles, US-based Occidental Petroleum Corporation said it has signed an agreement with Abu Dhabi’s International Petroleum Investment Company (IPIC) to jointly invest in hydrocarbon-related projects. The agreement between Occidental and IPIC, a company wholly owned by the Abu Dhabi government, provides for the companies to jointly evaluate and participate (more…)
(EnergyAsia, March 14, Friday) — Japanese trading house ITOCHU Corporation and Nasdaq-listed Ascent Solar Technologies Inc have agreed to begin work on developing a number of projects. After a recent round of meetings in Tokyo, the two companies said they will work on the following areas: • Procurement of machinery for Ascent Solar’s planned 100...
(EnergyAsia, March 14, Friday) —The extreme winter cold sweeping China has frozen a large part of the Liujiaxia reservoir, threatening the vital Liujiaxia hydropower station in the country’s northwestern region. The wintry conditions are said to be the worst in 60 years. Local officials are worried that when the ice begins melting, the gush...
(EnergyAsia, March 14, Friday) — Norway’s IMAREX said it has hired Mayu Sasako and Laura Lim for its global tanker broker team. Until recently, Ms Sasako and Ms Lim worked at the Geneva offices of leading Asian commodity broker Ginga Petroleum where they helped establish its European presence. “We want to further strengthen our tanker (more…)
(EnergyAsia, March 14, Friday) — The world carbon market was worth US$60 billion last year, up 80% from 2006, said consultants Point Carbon in its annual report which it claims is the largest survey ever conducted into the sector. The total traded volume increased by 64% from 1.6 billion tons in 2006 to 2.7 billion...
(EnergyAsia, March 14, Friday) — The Japan Bank for International Cooperation (JBIC) said it has acquired its first carbon credits or Certified Emission Reductions (CERs), generated from the clean development mechanism (CDM) projects supported by the Prototype Carbon Fund (PCF). The PCF, managed by the World Bank, is the world’s first carbon fund. JBIC participated...
(EnergyAsia, March 14, Friday) — Australia’s largest off-grid solar power station is set to be built at remote Coober Pedy in the northern part of South Australia state. Federal Environment Minister Peter Garrett and the state’s Premier, Mike Rann, jointly announced the A$7.1 million project at the recent 3rd International Solar Cities Congress in Adelaide....
(EnergyAsia, March 13, Thursday) — Germany’s Q-Cells became the world’s largest producer of solar cells last year after a 46% rise in production enabled it to overtake the previous year’s leaders, Japan’s Sharp Corp and China’s Suntech Power. According to PHOTON International magazine, Q-Cells’ 2007 production was 370 megawatts (MW), slightly ahead of Sharp and...
(EnergyAsia, March 13, Thursday) — Increased revenues from oil exports could provide an excellent opportunity to boost public investment in agriculture in the Near East, a region faced by food insecurity, land degradation, water scarcity, animal diseases and high food import bills, said Food and Agricultural Organization Director-General Jacques Diouf. “Investment in agriculture, from both...
(EnergyAsia, March 13, Thursday) — Trina Solar has signed an agreement with the Lianyungang Municipality in China’s Jiangsu province to develop a 10,000-metric ton multi-phased polysilicon production plant by end-2012. The local government will provide the land and electric power supply for the US$1 billion project. “We are extremely pleased by the strong support under...
(EnergyAsia, March 12, Thursday) — The CEO of Asian plantation giant Wilmar International has warned that biodiesel may be in for a “lousy year” as rising palm oil feedstock prices are squeezing margins. But Kuok Khoon Hong remains bullish about palm oil prices, which recently rose to a record RM4,000 per tonne in Malaysia. Wilmar,...