biofuel-kerosene mix from London to Singapore, showing that alternative fuels may be a realistic alternative for airlines around the world. The biofuel used in the Boeing 747 jet was based on babassu and coconut oil and mixed in a 20/80 ratio with kerosene. Virgin owner Richard Branson hailed the experiment a success, paving the way...
(EnergyAsia, April 2, Wednesday) — The US and China must make accommodations to curb greenhouse gas emissions if both countries are to break their “suicide pact” of self-destructive, energy-using behaviour, said the Carnegie Endowment for International Peace.Together, the two countries produce 40% of global greenhouse gas emissions. Yet both demand that the other take responsibility (more…)
(EnergyAsia, April 2, Wednesday) — State-owned Ceylon Petroleum Corporation (CPC) plans to re-enter Sri Lanka’s bunker fuel market through a tie-up with international trader GAC Ships.CPC would provide fuel oil from its 50,000 b/d Colombo refinery that would be marketed and delivered by GAC.The move is expected to bring down bunker fuel prices in Colombo....
(EnergyAsia, April 2, Wednesday) — Despite the recent downward correction, the price of coal for power generation and steel plants are still expected to soar in the long term, analysts have forecast.Merrill Lynch said coking coal for steel could hit US$300/tonne, up from just under U$98 last year, reflecting a 200% jump. Meanwhile, thermal coal...
(EnergyAsia, April 2, Wednesday) — Green groups warn that the Indonesian government’s decision to allow miners operate in the country’s rainforests for a small fee will cause massive environmental damage.In February, the government issued a decree that allows mining firms to pay a fee of only US$200 per hectare of forest land for mining, waste...
(EnergyAsia, April 2, Wednesday) — China Holdings Inc, a global diversified asset holdings company said its wholly-owned subsidiary, China Power Inc, has executed a development and construction agreement with the Huaxian local government inHunan province in China.This brings the company’s total potential alternative energy power generation capacity to 320 MW.The company is establishing longstanding strategic...
(EnergyAsia, April 2, Wednesday) — The UAE will be facing huge power shortages by 2013 if it did not speed up the construction of power plants.The oil-rich state is expected to produce 26,000 MW of electricity by 2010, up from an estimated 19,000 MW last year.UAE-based infrastructure specialists, Septech Emirates, estimate that the Gulf region...
(EnergyAsia, April 2, Wednesday) — The soaring cost of liquefied natural gas (LNG) could slow down its demand and hamper the industry’s long-term growth.“We need to watch the signals very carefully for the future to ensure that price levels don’t undermine the long-term future,” Martin Houston, president of LNG major BG North America told a...
(EnergyAsia, April 2, Wednesday) — Indonesia could be on the hook for 100 trillion rupiah in oil subsidies this year as crude oil costs remain well above US$100 a barrel. (US$1=Rp9,100).Energy Minister Purnomo Yusgiantoro has warned that the country may not be able to afford subsidy payments of this size much longer.Despite its status as...
(EnergyAsia, April 2, Wednesday) — Cairn India has sold a total of 113 million shares to Malaysia’s Petronas and Orient Global Tamarind Fund Pte Limited at Rs224.30 per share, raising Rs25,346 million through the private placement. (US$1=Rs40).Cairn said the net proceeds will be used to fund capital expenditure and for general corporate purposes.At a meeting...
(EnergyAsia, April 2, Wednesday) — Nasdaq-listed BTU International, a leading supplier of advanced thermal processing equipment for the alternative energy and electronics manufacturing markets, has opened its new center of excellence for photovoltaics process technology in Shanghai city in China. BTU opened the first of two new process technology facilities as part of its continued...