CHINA: US Treasury Secretary Paulson calls for energy alliance

(EnergyAsia, April 28, Monday) — The US and China should jointly develop energy efficiency programmes and technology, said US treasury secretary Henry Paulson. The world’s two top oil consumers need to cooperate to overcome increasingly difficult energy and environmental challenges, he said during a recent visit to Beijing. Mr Paulson called on Beijing to cut...

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QATAR: ConocoPhillips and GE collaborate in Global Water Sustainability Research Center

(EnergyAsia, April 28, Monday) — US oil firm ConocoPhillips, and GE Water & Process Technologies, a unit of GE, said GE has become an equal partner in ConocoPhillips’ Water Sustainability Center (WSC) in Qatar. Set within the Qatar Science & Technology Park (QSTP) in Doha and expected to open in late 2008, the WSC will...

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MARKETS: Bank sees crude oil at US$225 p/b by 2012, criticises IEA’s use of NGLs in supply data

(EnergyAsia, April 28, Monday) — A leading Canadian bank has predicted that crude oil will surge to US$150 by 2010 and US$225 a barrel by 2012 on growing supply scarcity and continued rising global demand. In a new energy report, CIBC World Markets also criticised the International Energy Agency (IEA) for including natural gas liquids...

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SOUTH KOREA: With new RFCC unit, SK Energy expands upgrading capacity to 162,000 barrels per day

(EnergyAsia, April 28, Monday) — South Korean oil company SK Energy said it has completed the building of a 60,000 b/d residue fluid catalytic cracking (RFCC) unit, raising its upgrading capacity to 162,000 b/d. Built at a cost of two trillion won, the new unit will produce gasoline and diesel from high-sulphur fuel oil when...

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DUBAI: Dubai to build LNG regasification terminal, Shell is adviser and main supplier

(EnergyAsia, April 28, Monday) — Dubai Supply Authority (DUSUP) said it will develop a floating liquefied natural gas regasification facility at the DP World Jebel Ali Terminal. The agency added that it has appointed Royal Dutch Shell as adviser, project manager and main LNG supplier when the terminal starts up in 2010. The new facility...

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MALAYSIA: Vopak acquires terminal in Pasir Gudang in Johor state

(EnergyAsia, April 25, Friday) — Dutch oil and gas storage firm Royal Vopak said it has agreed to fully acquire Intercontinental Terminals (M) Sdn Bhd in Johor state, Malaysia from owners Mitsui & Co and Tejana Trading Corporation Sdn Bhd. The terminal is located in the free trade zone of Johor Port in the Pasir (more…)

THAILAND: A-Power Energy receives $150 million distributed power generation contract

(EnergyAsia, April 25, Friday) — Nasdaq-listed A-Power Energy Generation Systems Ltd said it has signed a contract with National Power Supply Co Ltd, a subsidiary of Advance Agro Public Co Ltd, a large Thai-based conglomerate, to develop a 300 MW distributed power generation system worth $150 million for a large paper mill project located about...

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SINGAPORE: UNEP Champions of the Earth Awards 2008 winners call for urgent action on climate change

(EnergyAsia, April 25, Friday) — The UN Environment Programme has recognised seven individuals for their leading roles in the battle against global warming and encouraging the world economy to become greener and leaner. This year’s winners of the 2008 Champions of the Earth were honoured at a special event in Singapore. They include Prince Albert...

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SINGAPORE: SPC’s Q1 net profit down 12% to S$98.5 million

(EnergyAsia, April 25, Friday) — Singapore Petroleum Co Ltd said its first quarter net profit fell 121 to S$98.5 million quarterly net profit on total revenue of S$2.7 billion, which was 41% higher than the same quarter of 2007. (US$1=S$1.35). SPC said that rising oil prices appear not to have dampened demand for refined petroleum...

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SINGAPORE: Gasoline and diesel prices up sharply following Caltex’s move

(EnergyAsia, April 25, Friday) — Singaporean motorists have been hit with another price hike at the pumps this week, with gasoline up an average S$0.03 and diesel S$0.05 a litre. The increases are the ninth consecutive climb since last July. Caltex began the latest round of increases on Tuesday and was soon followed by the...

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THAILAND: ExxonMobil to invest US$400 million to upgrade refinery

(EnergyAsia, April 25, Friday) — Exxon Mobil plans to implement a US$400 million upgrade at its Thai Esso refinery at Chonburi with completion in 2011. Esso Thailand is also preparing to raise 14.3 billion baht in an initial public offering to reduce its debt load and take advantage of reduced taxes for companies that list...

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TAIWAN: CPC has two months of oil stockpile

(EnergyAsia, April 25, Friday) — Taiwan state oil company CPC has enough oil in reserves to supply the country’s fuel needs for two months. Its stockpiles of gasoline will last 64 days while it has enough diesel for 75 days of use. Taiwan’s demand for gasoline and diesel has continued to climb over the past...

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SRI LANKA: Storage operator to expand bunker fuel capacity

(EnergyAsia, April 25, Friday) — Ceylon Petroleum Storage Terminals Ltd (CPST) is building up its capacity to serve the country’s growing bunker fuel market and to improve supplies to ships calling at Colombo port. As part of the expansion programme, five tanks at the diesel and kerosene tank farm at Muthurajawela north of Colombo are...

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INDONESIA: Budget revised to adjust to soaring oil prices

(EnergyAsia, April 25, Friday) — The Indonesian government is pegging its fuel subsidises for the current fiscal year’s revised state budget to Rp 127 trillion, almost triple the previous allocation of Rp 42 trillion.(US$1 = Rp9,100). The government said it has been forced to revise the allocation to adjust to soaring international oil prices. The...

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RUSSIA: Clean Globe International buys a 26% stake in Sakhalin’s environmental services firm Ecoshel

(EnergyAsia, April 25, Friday) — Clean Globe International (CGI), a member of the oil spill response company Lamor Group, has expanded its operations in Russia by acquiring a 26% share in environmental services company Ecoshelf Ltd. Specialising in oil spill response, waste management and other environmental protection services, Ecoshelf Ltd is a 10 year old...

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BOOK: Energy and global warming politics addressed in ‘The World Energy Book 2007’

(EnergyAsia, April 24, Thursday) — ‘Energy & Climate Change Issues: The World Energy Book’ is a geopolitical and technical guide to the challenges and commercial opportunities of global warming. Featuring contributions from industry players, the book examines plausible solutions to the current issues faced by the industry. The book consists of 30 articles which include (more…)

INDIA: Reliance, Essar plan major refinery expansions

(EnergyAsia, April 24, Thursday) — India’s two largest private oil companies said they are planning to expand their refining capacities. Reliance Industries Limited (RIL) is looking to add another 34 million tonnes of capacity to its 33-million-tonne-per-year refining complex in Gujarat state. The investment would come on top of RIL’s plans to build a 27-million-tonne-per-year...

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INDIA: France’s AREVA received Rs4.18 billion order from Essar Constructions

(EnergyAsia, April 24, Thursday) — AREVA T&D India said it has received orders to provide services and equipment for Essar Power’s power plant projects in Gujarat and Madhya Pradesh states in India. The projects have a total value of Rs4.80 billion. (US$1=Rs40). The orders were made by from Essar Constructions (India) Limited, said France’s AREVA....

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SINGAPORE: FSL Trust acquires two crude oil tankers for US$140 million

(EnergyAsia, April 24, Thursday) — FSL Trust Management Pte Ltd said it has acquired two crude oil tankers from Turkey’s Geden Lines for a total of US$140 million. The vessels have been concurrently leased back to the seller for a lease term of 10 years. Geden is Turkey’s largest shipping company with a total of...

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CHINA: Sinopec plans 300,000 b/d refinery in Zhejiang province

(EnergyAsia, April 24, Thursday) — Sinopec is planning to build a new 300,000 b/d refinery in Zhejiang province in eastern China. The project – still subject to approval by the central National Development and Reform Commission – will likely be built in conjunction with an ethylene cracker. Meanwhile, rival China National Offshore Oil Corp (CNOOC)...

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FUNDS: ADB to promote clean energy through private equity

(EnergyAsia, April 24, Thursday) — Using up to $100 million in seed capital, the Asian Development Bank (ADB) is helping to establish five private sector funds with a total target investment of up to $1.2 billion in clean energy projects in Asia. The MAP Clean Energy Fund, China Environment Fund III, GEF South Asia Clean...

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SINGAPORE: Speech by EMA’s chief executive on BG Group’s appointment as aggregator of LNG demand

(EnergyAsia, April 24, Thursday) — This is an edited version of Energy Market Authority chief Khoo Chin Hean’s speech given at last Friday’s announcement that UK’s BG Group has been appointed Singapore’s sole importer of liquefied natural gas (LNG) and aggregator of demand. BG Group’s role is to aggregate demand for regasified LNG from all (more…)

INDIA: Venezuela mulls refining project

(EnergyAsia, April 21) — Venezuela is considering the feasibility of investing in a massive refining-petrochemicals complex in India. The oil feedstock for the project could come from a 200,000 b/d field in Venezuela’s Orinoco region in which India’s upstream company ONGC Videsh expects to take a stake. Venezuela has claimed that its Orinoco heavy oil...

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JAPAN: Rocket attack on oil tanker off Yemen a potentially new threat

(EnergyAsia, April 24, Thursday) — The shipping industry is worried that an attack on a Japanese VLCC reportedly by a rocket propelled grenade launched from a small boat off the coast of Aden in Yemen could pose a new and disturbing threat to the world’s oil supply lines. On April 21, the NYK company said...

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CHINA: CLP marks phase 1 completion of 1,200MW Guangxi power station

(EnergyAsia, April 24, Thursday) — Hongkong-based CLP said it recently celebrated the phase 1 completion of its Fangchenggang (FCG) power station in China’s Guanxi province. It is the first large-scale infrastructure power project completed since the announcement of the state-approved Beibu Gulf Economic Zone Development Plan. Being one of the largest foreign invested power projects...

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