(EnergyAsia, Apriil 7, Monday) — NYSE-listed Yingli Green Energy Holding Company Limited, a world leading vertically integrated photovoltaic product manufacturer, said it has completed installing the Solar Villar De Cañas 2 Project in Cuenca. The company was also the sole supplier of 9.5 MW of PV modules for the project to Control y Montages Industriales...
(EnergyAsia, April 7, Monday) — Vancouver, Canada-based Hanwei Energy Services Corp said it has completed and delivered the first four 1.5 megawatt turbines to Daqing Deta Electric Co Ltd, which will be installed by the end user, Heilongjiang Ruihao Energy Technology Co Ltd this month. The turbines will be installed using the three blade sets...
By Sophie Nappert * Background (EnergyAsia, April 7, Monday) — The policies adopted by the Russian Federation in dealing with its energy resources, notably in its gas pricing dispute with Ukraine and, more recently, its draft law on foreign investment in strategic industries , are the subject of worldwide publicity and comment. Russia has signed (more…)
(EnergyAsia, April 7, Monday) — China’s government plans to establish a ministry for environmental protection to raise its anti-pollution efforts. The current State Environment Protection Administration will be upgraded to ministerial rank and be given more resources and staffing. Giving the move a cautious endorsement, Greenpeace China said: “We hope the promotion will also give...
(EnergyAsia, April 7, Monday) — NYSE-listed Suntech Power Holdings Co Ltd, one of the world’s leading manufacturers of photovoltaic (PV) cells and modules, and Nitol Solar Ltd, an independent polysilicon producer, have agreed to expand the terms of their existing seven-year polysilicon supply agreement from 2009 to 2015. Nitol has agreed to “substantially” increase the...
(EnergyAsia, April 7, Monday) — Australian resources giant BHP Billiton said it has approved the North West Shelf’s North Rankin gas compression project which is designed to recover remaining lower pressure gas from the North Rankin and Perseus gas fields. BHP Billiton has its US$850 million share of the project’s expenditure. The project comprises a...
(EnergyAsia, April 4, Friday) — The Lubrizol Corporation has launched a 10-year phased investment plan to upgrade and increase global capacity in its additive business. This will be achieved through an extensive debottlenecking program at its existing facilities and a greenfield investment in China.To meet the evolving demands of the global lubricant and fuel additives (more…)
(EnergyAsia, April 4, Friday) — Australian engineering firm WorleyParsons is acquiring the Heerema Group’s INTEC Engineering BV division, a leading international deepwater and arctic engineering and project services company.In a joint statement, the companies said the agreement also provides for an ongoing business relationship for WorleyParsons and INTEC to provide engineering services to the Heerema (more…)
(EnergyAsia, April 4, Friday) — J. Ray McDermott SA said its subsidiaries were recently awarded an EPCI contract by Chevron Thailand Exploration and Production for the Platong Gas II project in the Gulf of Thailand.The contract encompasses engineering, procurement, fabrication and installation of a central processing platform with a float-over deck weight of approximately 19,000...
(EnergyAsia, April 4, Friday) — Singapore-listed KS Energy Services Limited said it is selling off an oil rig, KS Venture, for US$43 million to focus on its core business is sold on an its core business to provide energy services to the world oil, gas and petrochemical industries.This rig is funded by internal resources and...
EnergyAsia, April 4, Friday) — China’s consumption of renewable fuels is forecast to reach the equivalent of 300 million tonnes of coal by 2010, accounting for some 10% of the country’s energy mix that year.The 2010 level will nearly double the country’s 2005 consumption of 166 million equivalent tonnes of coal.China’s renewables potential includes hydropower...
(EnergyAsia, April 4, Friday) — A consortium involving Belgium’s SUEZ Energy International, and Japan’s Mitsui, has been declared preferred bidder for an independent power and water project in the industrial city of Ras Laffan on Qatar’s northeast coast.The consortium has a 40% stake in the $3.7 billion project, with the remainder split between state-owned Qatar...
(EnergyAsia, April 4, Friday) — Singapore’s Swiber Holdings Limited, a niche service provider in the offshore oil and gas industry, said it has successfully raised S$100 million in the domestic bond market, under its multicurrency medium term note (MTN) programme.The bonds have a maturity of three years, and are split equally between a floating rate...
(EnergyAsia, April 4, Friday) — China’s state energy giant Sinopec has received over 12.3 billion yuan in government subsidies to help cover its most recent refining losses. (US$1=7 yuan).The subsidy marks the third year that Sinopec receives such support from Beijing.Sinopec cannot pass on high crude oil costs to customers due to price caps on...
(EnergyAsia, April 4, Friday) — China will continue to fill up its strategic petroleum reserves (SPR) despite the possibility of higher oil prices, with no specific schedule or timelines for completion.Speaking to reporters, Zhang Guobao, vice minister and economic planner, said the government will keep a close watch on oil prices, and will try to...
(EnergyAsia, April 4, Friday) — globalCOAL, the leading electronic marketplace for thermal coal, and IntercontinentalExchange (ICE), a leading operator of global derivatives exchanges and OTC markets, have agreed to develop and launch two new coal futures contracts at ICE Futures Europe.The contracts will consist of financially settled NEWC® coal futures, to be launched mid-2008, and...
environmental engineering company listed on the SGX Catalist exchange, said it has completed the acquisition of a 40% stake in WS Bio, a firm which owns a majority controlling stake in Oiltek. The stake was held by Wong Seong, the main shareholder of WS Bio. Metax will pay an amount based on WS Bio’s earnings...
(EnergyAsia, April 3, Thursday) — Royal Dutch Shell and Virent Energy Systems Inc of Madison, Wisconsin in the US have announced a joint research and development effort to convert plant sugars directly into gasoline and gasoline blend components, rather than ethanol. Shell said the collaboration could herald the availability of new biofuels that can be (more…)
(EnergyAsia, April 3, Thursday) — The courtship between the Middle East and Asia is starting to narrow down to a handful of partners. Not all Middle Eastern countries are rich or blessed with lots of oil, and not all Asian countries are dynamic and have bright economic prospects. China and India join long-time Middle East (more…)
analysis, said ship operators should respond pro-actively to growing environmental regulations and leverage the benefits of fuel efficiency methods to help counteract rising and volatile fuel prices. The industry has also been warned that unless shipping companies adapt their business models to control increased operational costs and fluctuations in revenues, then a wide-reaching credit crunch...
the 2007 increased by 2.6% to 171 million barrels-of-oil-equivalent (BOE) while its proven reserves reached 2.6 billion BOE, with a reserve replacement ratio of 142%. Its net profit edged up by 1.1% to RMB31.26 billion while its revenue grew by about 2% to RMB90.72 billion. The Hong Kong-listed company said its board of directors has...
to 10% in October to reduce dependence on fossil fuels, said Petroleum and Natural Gas Minister Murli Deora. He made the announcement after meeting visiting Brazilian Minister of State for Industry and Foreign Trade Miguel Jorge in New Delhi. Brazil, the world leader in using fuel ethanol, is encouraging Indian companies to expand sugarcane production...
East Inc, has received a letter of award for engineering, procurement and construction of 6,500 tonnes of topside modules for the Peregrino floating, production, storage and offloading (FPSO) by contractors A.P. Moller – Maersk A/S. Projects of this nature are typically valued in excess of US$250 million. Engineering and procurement activity have started while the...
prices: they love it. They may even be secretly wishing for higher prices. Since US crude futures broke through the psychological $100-a-barrel barrier on the first trading day of 2008, there has been no signs of worry from producers that the world economy might crash or alternative energy would become viable or new exploration efforts...
installation of solar systems for 1,000 homes in a drive to broaden the use of environmentally friendly energy. Up till now, only 446 Queensland homes have solar systems. The subsidy reduces the cost of a home solar system to about A$1,500, from A$5,000 (US$1=A$1.08). Given the public’s positive response, the state is considering expanding the...