Marubeni Corp, said it and partner Talisman Energy (UK) Ltd have jointly successfully completed appraisal drilling on the Cayley condensate gas discovery in the UK Central North Sea. Talisman Energy (UK) Ltd, the operator, is a wholly owned subsidiary of Talisman Energy Inc, one of Canada’s largest upstream companies. The Cayley discovery was drilled from...
(EnergyAsia, March 10, Monday) — China Aviation Oil (Singapore) Corporation Ltd (CAO) has unveiled its strategy for further growth and expansion of its existing business.Chairman Lim Jit Poh said: “CAO’s strategy sets out the developmental direction for CAO which will complement its current business model of deriving income from jet fuel procurement. CAO will take (more…)
(EnergyAsia, March 10, Monday) — Finland’s Wartsila said it will deliver the world’s first planar solid oxide fuel cell (SOFC) technology unit to produce electric and heating power for the Vaasa Housing Fair site in Western Finland.Wartsila said the plant is fuelled by biogas or methane originating from a nearby landfill, and will initially produce (more…)
(EnergyAsia, March 10, Monday) — Bidding to win a multi-billion-dollar contract as Singapore’s exclusive liquefied natural gas supplier, the CEO of Australia’s Woodside Petroleum downplayed his earlier skepticism about the prospect for a spot market for LNG trades.At an industry conference in Houston, Texas in February 2007, Don Voelte had poured cold water on the...
(EnergyAsia, March 10, Monday) — Abu Dhabi and India are seeking to deploy some of their large cash holdings into big investments in energy projects around the world.While Abu Dhabi has an established sovereign wealth fund in the Mubadala Development Company, India is looking to set up one.Already an active investor with more than US$10...
(EnergyAsia, March 10, Monday) — Investors should step up their buying of energy and materials stocks as these will rise even if the US economy goes into a recession, says CIBC World Markets chief strategist and chief economist Jeff Rubin.In a special report, he said there is “enough evidence” of market decoupling that investors need...
(EnergyAsia, March 10, Monday) — AGL Energy Limited (AGL) said it has acquired the development rights to a third wind farm site in South Australia state. The 90MW farm at Mt Bryan known as Hallett 3 is located 200 km north of Adelaide.It is sited about 15 km from the 95MW Brown Hill (Hallett 1)...
(EnergyAsia, March 10, Monday) — The Singapore government said it will not subsidise the use of solar power in keeping with its policy of not helping end-users pay for energy. Speaking to Parliament, Minister of State (Trade and Industry) S.Iswaran said: “Our basic policy tenet is that energy costs should be borne in full by end-users....
(EnergyAsia, March 10, Monday) — Australia’s energy giant Woodside Petroleum is working on an ambitious plan to develop three large liquefied natural gas (LNG) projects on Burrup Peninsula, the Browse Basin, and the Greater Sunrise field in the Timor Sea.If realised, the projects would require tens of billions of dollars in finance, putting great strain...
(EnergyAsia, March 10, Monday) — India’s small hydropower and wind power projects have the potential to produce 60,000 MW of electricity, said the Ministry of Environment and Forests.Small hydro power plants, defined as those with the capacity to produce up to 25MW of electricity, are capable of generating 15,000 MW while wind power can yield...
(EnergyAsia, March 10, Monday) — The gross value of Australia’s fisheries production is forecast to increase over the medium term but the industry will continue to struggle with high fuel prices and soaring levels of seafood imports, said state agency Australian Bureau of Agricultural and Resource Economics (ABARE).Fisheries manager Paul Newton told delegates at a...
(EnergyAsia, March 7, Friday) — Australian resources giant BHP Billiton said it has approved a US$975 million coal optimisation project which includes utilising reserves across the Douglas and Middelburg Mine Services (MMS) collieries and developing new mines with low strip ratio coal to be fed into a new 14-million-ton-per-year processing plant. The plant will replace (more…)
(EnergyAsia, March 7, Friday) — Thailand’s Star Petroleum Refining Co (SPRC) has decided to delay its planned listing originally set for mid-2008 to the end of the year.This is the second postponement as the company had expected to be floated on the local stock exchange last year.The company, 64% owned by US major Chevron, declined...
(EnergyAsia, March 7, Friday) — India’s planned semi-conductor “Fab-City” at Hyderabad has lined up seven big confirmed investment projects, worth some US$7 billion.The bulk of the investments are for the manufacturing of solar photovoltaic modules. Investments include a US$3 billion project by Sem India, a US1 billion project by Solar Semiconductor Industries, a US$750 million...
(EnergyAsia, March 7, Friday) — Pakistan’s largest and most important commercial city Karachi was plunged into darkness and inactivity most of yesterday when it suffered its worst ever power outage.The entire city of 15 million was left stranded when power supply was completely cut off which the Karachi Electric Supply Corp (KESC) was unable to...
(EnergyAsia, March 7, Friday) — As part of its examination of the renewable energy sector, Cambridge Energy Research Associates (CERA) has found that growing public concerns about climate change, and its potential economic and political security consequences along with private investment in clean energy technologies have made it a mainstream undertaking today.In a special report,...
(EnergyAsia, March 7, Friday) — Singapore will aim to improve energy efficiency and conservation and promote clean energy use to reduce greenhouse gas emissions as part of its national climate strategy, unveiled after a two-year study.The National Climate Change Strategy (NCCS), announced by Amy Khor Lean Suan, senior parliamentary secretary for environment and water resources,...
(EnergyAsia, March 7, Friday) — The Indonesian government is seeking to renegotiate contract terms with oil and gas producers in the country as higher oil prices have boosted the firms’ revenues and profits.The move, which would involve changing existing production sharing contracts with the oil majors, comes on the back of similar initiatives in Venezuela,...
(EnergyAsia, March 7, Friday) — Britain’s BG Group and Australia’s Queensland Gas are teaming up to build a liquefied natural gas (LNG) processing plant in Queensland state to supply markets in Asia.Due to start up in 2013, the A$8 billion plant, most likely to be sited in Gladstone, will have the capacity to produce up...
(EnergyAsia, March 7, Friday) — US crude oil futures broke through US$105 per barrel for the first time yesterday, three years after Goldman Sachs had made the prediction in a landmark report when oil was trading at around US$50 per barrel.In New York, it closed at a record US$105.47 after climbing as high as US$105.97...
(EnergyAsia, March 7, Friday) — Kuwait has agreed to supply crude oil to a new 240,000-b/d refinery in southeastern China being planned by state oil trader Sinochem.Sinochem President Liu Deshu said his company had concluded the deal for the feedstock for the proposed refinery to be sited in Quanzhou city.The agreement would fit in with...
imported liquefied natural gas (LNG) this financial year, wiping out nearly 40% of the profits of its utilities. This unwanted record came courtesy of the new sky-high prices that Japan has been paying for its LNG cargoes. The world’s largest LNG importer paid just more than US$9 per million British thermal unit (Btu) for its...
manages and operates renewable energy power plants in China, said its revenue grew by 7.1% to a record S$129.8 million in FY2007. (US$1=S$1.40). It attributed the growth to the financial consolidation of JAZ Technology Development (Shenzhen) Co Ltd that was acquired in June 2006. Gross profit grew 13.2% to S$33 million while cost increased by...
(EnergyAsia, March 6, Thursday) — A business group including leading companies such as HP, Sony, Nokia and Nike recently released the Tokyo Declaration, a joint call to tackle the urgent issue of climate change. Signing the declaration at the Climate Savers Summit 2008 held by WWF and Sony in Tokyo, a dozen business leaders highlighted (more…)
by Korea Electric Power Corporation (Kepco), under the newly created Korea Waterbury Uranium Limited Partnership, to jointly develop the Waterbury Lake property in the Athabasca Basin in Saskatchewan province. Pursuant to the earn-in agreement, Fission has granted the Waterbury Consortium the exclusive right to earn up to a 50% interest in the Waterbury Lake property...