Group Ltd has incorporated a new subsidiary, Guangzhao Biofuel Pte Ltd, in Cambodia with a registered capital of US$1 million. The new company will be involved in planting crops for the biofuels industry, processing biofuel feedstock, trading, and importaing and exporting agricultural products. Guangzhou Industrial Forest Biotechnology Group has remitted US$808,750 as paid-up capital for...
(EnergyAsia, March 3, Monday) — Singapore-listed Rotary Engineering Limited has announced a record after-tax net profit of S$52.8 million for the full year ended December 31 2007, up 50% from FY2006. (US$1=S$1.4). The group’s turnover hit a new high of S$510.2 million, an increase of 17% over S$437.4 million from the previous year. The (more…)
oil companies, Reliance Industries Ltd and Essar Oil Ltd, for the recent panic buying and shortages in the supply of liquefied petroleum gas (LPG). In a statement explaining the recent situation to Parliament, Minister of State for Petroleum and Natural Gas Dinsha Patel said the two companies reduced LPG production and supply in January, causing...
Guru Gobind Singh Refineries Limited (GGSRL) to provide technology, engineering and procurement services for a deep catalytic cracking (DCC) unit at a grassroots refinery project in India’s Punjab state. The contract’s value was not disclosed. “Shaw’s ability to incorporate DCC technology into the Punjab refinery project will facilitate the most cost-effective and commercially proven option...
climate change fund to help poor countries combat global warming. The fund will finance joint projects and programmes between Japan and developing countries to cut greenhouse gas emissions, improve energy efficiency and provide technical assistance to poorer nations in switching to alternative energy sources. First disbursements from the fund are expected for later this year....
sufficient liquefied natural gas (LNG) from 2010, mainly due to a drastic fall in supplies from Indonesia. The reduced LNG availability is expected to translate into higher domestic gas fees and increased electricity prices. Japan has around 100 power plants that use LNG as fuel. Indonesia supplies well over 22% of all LNG imported by...
profit for 2007 fell by about 7% to US$33.5 million from 2006’s US$36.2 million after deducting exceptional gains for both years. When exceptional gains were taken into consideration, CAO’s net profits fell from US$228.2 million in 2006 to US$168.3 million. Last year’s profit included a net divestment gain of US$134.8 million from the sale...
grow its international oil storage business with planned expansions of its tanks farms on Jurong Island and the UAE, and possibly a new terminal in Panama. Newly appointed chairman and CEO Michael Bandy said the company will “continue the growth momentum started by (founder) Bob Chandran”, who died in a helicopter accident in Indonesia...
signs of letting up as shown by last week’s massive liquefied natural gas (LNG) deal with Taiwan. While all attention has been on China’s buying power in recent years, Taiwan grabbed the headlines when its state oil and gas firm, CPC, has signed a 20-year contract to import between two and three million tons...
(EnergyAsia, March 3, Monday) — ‘Project Finance India’ will be held at The Maratha in Mumbai, India from April 14 to 15. The conference will examine key energy and infrastructure opportunities and will address topics including sustainable growth through project finance, the role of multilateral agencies, financing availability, finance and investment opportunities in renewable energy, (more…)
(EnergyAsia, March 3, Monday) — The third annual ‘World Renewable Energy Summit (WRES)’ will be held at the JW Marriot hotel in Kuala Lumpur, Malaysia from March 27 to 28. The surge in energy demand and oil prices combined with the depletion of fossil fuels has the world turning to renewable energy as a solution. (more…)