(EnergyAsia, July 16, Wednesday) — Japanese firms Teikoku Oil Co. and Nippon Oil Corp are expected to take part in exploring for natural gas in a contested area in the East China Sea after China and Japan recently reached a breakthrough agreement to pursue joint development. The new framework for co-operation hammered out last month...

(EnergyAsia, July 16, Wednesday) — Inflation should be the top concern of policymakers confronted by higher food and fuel prices, said Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF) to the leaders of the Group of Eight (G8). At their recent summit in Hokkaido, Japan, he said: “When you worry about high oil...

(EnergyAsia, July 16, Wednesday) — China’s Canadian Solar Inc said it has signed five new sales agreements in Italy and the Czech Republic in recent weeks. The total volume of shipments for 2008 for the new agreements with WSW in the Czech Republic, and Arco Energy, AC Service, Ravano Green Power and Albatec of Italy...

(EnergyAsia, July 16, Wednesday) — Australia’s leading science agency CSIRO said retail gasoline prices could reach A$8 a litre within a decade from around A$1.60 now on dwindling world oil production and soaring consumption. (US$1=A$1.03). CSRIO’s report, “Fuel for thought – The future of transport fuels: challenges and opportunities”, addresses two key issues on the...

(EnergyAsia, July 15, Tuesday) — Surging food and fuel prices are having an acute impact on import-dependent poor and middle-income countries struggling with balance of payments problems, inflation and worsening poverty, said the International Monetary Fund (IMF). In a new study analysing the macroeconomic policy challenges arising from the price surges, the IMF said many...

Aboitiz Group, have acquired the Ambuklao and Binga hydropower plants in the Philippines. The US$325 million acquisition marks the second successful transaction for the partners in the Philippines, and positions SN Aboitiz Power as a major renewable energy player in the country. The 75 MW Ambuklao and 100 MW Binga plants, located in Benguet Province...

Luxembourg-based ArcelorMittal, an integrated metals and mining company, raised its 14.9% stake to 19.9% by paying A$20 a share for more than 10.6 million shares while South Korean steel company POSCO bought more than 20.2 million shares for a 10% stake also at a cost of A$20 a share. (US$1=A$1.03). ArcelorMittal bought the shares from...

Kolkata-based Damodar Valley Corp (DVC). Under a memorandum of understanding (MOU), the ministry will help Damodar Valley Corp (DVC) deploy renewable energy systems and devices at its workplaces, power plants and other establishments to conserve energy and use environmentally friendly and sustainable renewable energy sources. Both measures will also help reduce carbon emissions. The ministry...

industry, said it has won a 99-year power supply contract in Cambodia worth US$475 million. This is the group’s fourth contract since its venture into Cambodia’s energy sector in 2005. Under the contract, the group will supply power to the Phnom Penh Special Economic Zone (PPSEZ), a flagship project undertaken by private investors which forms...

 East Kalimantan, for a five well drilling campaign. The company will deploy its Rig 8 at an increased rate for the $2.8 million contract. Apexindo president Hertriono Kartowisastro said: “The increased activity in land drilling business in Indonesia (has positively impacted) Apexindo as the high level of land rig demand directly affects dayrates. Even though...

turmoil on the world financial markets, said the UN Environment Programme (UNEP). More than $148 billion in new funding entered the sustainable energy sector globally in 2007, a 60% increase from 2006, said a report prepared by UK-based New Energy Finance for UNEP’s Paris-based Sustainable Energy Finance Initiative. “The clean energy industry is maturing and...

 in project finance to Russia-based Sakhalin Energy Investment Company Ltd for the Sakhalin II (Phase 2) project off Sakhalin Island in Russia. The loan is co-financed with a syndicate of commercial banks, which will be providing a total of up to US$1.6 billion. Sakhalin Energy, in which Mitsui & Co Ltd, Mitsubishi Corporation, Gazprom and...

(EnergyAsia, July 15, Tuesday) — Singapore-listed DMX Technologies Group Limited, an information technology enabler and digital media provider, said its subsidiary, BEE Mediasoft Limited, has secured a contract with Keppel FELS Limited, a wholly-owned subsidiary of Keppel Offshore & Marine Limited, to develop the world’s first offshore Internet Protocol Television (IPTV) entertainment system. The deal...

(EnergyAsia, July 15, Tuesday) — Indian NGO Technology Informatics Design Endeavour (TIDE) has been named ‘Energy Champion’ at the recent UK-based Ashden Awards for Sustainable Energy ceremony, which was presided over by Nobel laureate Wangari Maathai. TIDE was awarded a prize of £40,000. Six other international schemes were awarded £20,000 each by the UK-based Ashden...

a provider of solar energy products and solutions in China, said it has signed a letter of intent (LOI) with China Merchants Zhangzhou Development Zone (CMZD), to jointly develop the Xiamen Bay Solar City.   The agreement was signed by Alan Li, CTDC chairman and CEO, and Bin Wu, general manager of the CMZD.  The...

manufacturer of photovoltaic products including ingots, wafers, modules, said it has signed a sales agreement with Techwin Co Ltd, a leading Korean company in plant engineering and environmental technology development.   ET Solar, which owns and operates a state-of-the-art dual-axis tracking systems with manufacturing facilities in Taizhou city, will supply 500 kilowatt of PV modules...

completed the construction of the first phase of its wind turbine production facility in Shenyang city in China, and expects to start on the second phase. The 310,000-sq foot factory has the capacity to produce 300 units of the company’s 2.5MW wind turbines and 420 units of 750kW wind turbines a year. Jinxiang Lu, A-Power’s...

power solutions, and NeoSolar, a Korean manufacturer of portable digital devices and energy products, said they have signed an agreement to develop MTI’s Mobion® fuel cell technology for use in future models of NeoSolar portable digital devices including ultra mobile portable computers (UMPCs). MTI Micro, a subsidiary of Nasdaq-listed Mechanical Technology Inc, and NeoSolar will...

support and marine services provider for the offshore oil and gas industry, said its net attributable profit soared 577% to US$168.7 million while revenue doubled to US$149.1 million for the first nine months of this financial year. The company attributed the improved performance for the period ended May 31 2008 to the robust offshore chartering...

semiconductor and solar industries, has broken ground on its Asia-wide operations building in Singapore that will have the country’s largest solar energy installation. The 32,000-sq m facility in the Changi North Industrial Park will be equipped with solar installations to produce up to 350 kw of electricity when it is completed in late 2009. That...

partners have begun drilling for oil in the Vimean Morodok MahaNorkor-1 exploration well in Cambodia’s offshore Block B. The prospect is located east of the Khmer sub-basin in water depth of about 75 metres. Sited 160 km southwest of Sihanoukville city, the prospect lies about 80 km east of an area in the Gulf of...

France, Germany, Japan, Italy, Russia and the US agreeing to tackle a host of pressing issues pertaining to climate change, food and energy. The summit held in Hokkaido, Japan was attended by the leaders of 15 other countries including China, India, Brazil, Australia and eight African states for expanded sessions on global warming and poverty...