a stake in a LNG project following the recent sharp depreciation of the Australian dollar against the US dollar. The Australian currency has fallen by around 40% to A$1.43 against the greenback over the last three months. On September 8, ConocoPhillips said it will invest in a coal seam gas (CSG)-to-LNG joint venture by way...
said Platts in its latest monthly survey. Platts attributed the lower output decline by the 13-member cartel from August largely to production drops in Saudi Arabia, Iraq and Angola. Saudi Arabia accounted for the biggest single fall, 170,000 b/d. Iraqi volumes dropped by 110,000 b/d and Angolan volumes by 100,000 b/d. “We are seeing increasing...
credit guarantee programme to support private sector-led energy efficiency projects in China. (US$1= 6.83 yuan). Under the pilot programme, ADB will be partnering private energy management company Johnson Controls to retrofit existing buildings to save energy, and to support the construction of new energy-efficient green buildings. NYSE-listed Johnson Controls will identify buildings with energy savings...
Mubadala Development Company PJSC have signed a Memorandum of Understanding (MOU) to negotiate terms to explore and develop oil and gas in the “N” Block located in offshore Kazakhstan. The parties will have until end of the year to negotiate the definitive agreements for the assignment of a 49% interest by KMG in the subsoil...
to support the country’s efforts to address the needs of poor families and the economy affected by the recent sharp rise in food and fuel prices. ADB said the loan will support changes in the energy and agriculture sectors and will help efforts to diversify, deepen and expand the country’s industrial sector, and create jobs...
oil in the BMC-30 block in Brazil. The BMC-30 block is a marine mining block located at the Campos basin, off the coast of Espirito Santo. SK Energy said the oil reserve was found in the subsalt layer by the second drillship in the block. SK do Brazil, the local subsidiary of SK Energy, said...
Australia’s methane coal-seam gas (CSG). In one key deal, US major ConocoPhillips recently agreed to invest almost US$10 billion for a 50% stake in Origin Energy’s CSG assets in Australia’s eastern Queensland state. The firms hope to convert the gas into liquefied natural gas (LNG) which they would export to meet rising demand in Asian...
this summer, said environmental group WWF. The summer also marked the first time that the Northwest Passage over the top of North America and the Northeast Passage over the top of Russia both became free of ice, WWF said. The group said that Arctic ice cover stood at a record low of some 1.6 million...
petroleum gas (LPG) depot in Long Thanh district in the country’s southern province of Dong Nai. The 125-billion-dong project at the Go Dau A industrial Park will have a capacity of 6,000 tonnes. (US$1=16,700 dong). Sited on a 10-hectare plot, the terminal will include a port that can handle LPG vessels of up to 50,000...
(EnergyAsia, October 16, Thursday) — CME Group Inc expects to better serve its energy and commodities customers following the August completion of its acquisition of NYMEX Holdings Inc. The combined companies will provide customers around the world with access to all major benchmark asset classes, including interest rates, equity indexes, foreign exchange, energy, agricultural commodities (more…)
turns algae growing in sewage into oil products and fuel. Solray Energy Ltd said its process speeds up a conversion process that would take nature millions of years. It remains unclear if Solray’s process can be verified and how much it will be worth in the open market. Efforts by scientists in the US and...
expand their cassava plantation in Zamboanga in the Philippines. The cassava will be used to feed Basic’s planned ethanol plant. The two firms have agreed to increase their cassava planting by 350 hectares to 500 hectares. Financial terms and timelines for completion of the projects were not disclosed. Basic Energy said it is looking to...
subsidiary Temmar has started building a liquid bulk fuels terminal on a 10 million-sq metre site in Brazil to handle clean fuels, bio-diesel and ethanol. Noble said it plans to build the 132,990-cubic meter terminal in Itaqui, close to São Luiz, the capital of Maranhão state in three phases. The terminal, to be fully operational...
has signed a five-year sales contract with Italian module manufacturer, Solarday, worth a total of $210 million. The new contract, from 2009 to 2013, is an extension of their existing $110 million three-year sales contract starting this year. “Italy is expected to become the next focal point of the solar industry, indicating a market size...
provider to the offshore industry, is moving deeper into the lucrative subsea services market. The company said its 70%-owned Kreuz Subsea Pte Ltd has signed a letter of intent to provide subsea services for an offshore project in India with an approximate project value of US$7 million. Swiber will utilise its recently acquired state-of-the-art Saturation...
has agreed to acquire Mitsui & Co’s 95% shareholding in PT Pro-Intercontinental Terminals Indonesia (Prointal). The remaining 5% stake in Prointal is held by PT Intimitra Pratamausaha, an Indonesian engineering and contracting company. The terminal operates as a chemical import terminal, handling the import of liquid chemical products via incoming vessels and providing storage and...
US Sharp Solar Academy to educate and empower today’s youth on the environment. Sharp said the Solar Academy will enable it to fulfil its commitment to be an environmentally advanced company and minimise its environmental impact. “As a world leader in solar energy, an important part of Sharp’s commitment to the environment is undertaking the...
Jindo” solar photovoltaic power plant in Jindo county in South Korea’s South Jeolla province. The plant will provide electricity to 1,500 families in the region. S-Energy Co Ltd designed and built the system utilising its solar modules and the proprietary SunSeeker® Single-Axis Tracker System by Thompson Technology Industries (TTI). The company said the SunSeeker System...
go-ahead for a 10MW solar energy plant near Nagpur. The Rs2 billion project, one of Asia’s largest, will be built on a 80-acre site. The project is spearheaded by ACME Tele Power Limited but will receive extensive support from the Maharashtra state government....
143,000 tonnes this year, up 50% from 2007. For the first eight months of 2008, exports had already exceeded last year’s full-year shipments of 95,000 tonnes. Producers have widened their margins as costs for palm-oil feedstock are way below breakeven cost of around RM3,000 per tonne. (US$1= RM3.5). However, towards the end of the year,...
The company has struggled to operate the 122,500-tonne-per-year plant, Australia’s largest, in the face of high palm oil feedstock costs, prompting investors to withdraw funding. The plant is unlikely to be sold quickly due to tough market conditions and Australia’s unclear policies towards biodiesel. NFAL is a joint venture between Natural Fuel and Babcock &...
wind power project in the country’s western Gujarat state. The project will cost an estimated Rs250 million. (US$1=Rs46). The company is also looking at developing two wind power projects in Maharashtra and Rajasthan states, with a combined capacity of over 23 MW. Other Indian energy firms, including Oil & Natural Gas Corporation (ONGC), NTPC, Nuclear...
around the world for years to come, analysts said. Netherlands-based Rabobank has placed the funding shortfall at over 21-billion euro. (US$1 = Euro0.73). Renewables have become increasingly viable in recent years as oil and gas prices soared and governments broadened incentives and subsidies for the sector. However, with the sudden and worsening credit crunch, banks...
promotion of solar energy projects. As a first step, the Bureau of Energy under the Ministry of Economic Affairs (MOEA) said it plans to invite Chinese government officials to a renewable energy conference next year. Taiwan’s solar firms have already been actively investing in China and are planning expansions to their projects on the mainland....
The fuel which contains a 5% ethanol blend is made at a plant in Vietnam’s northern Phu Tho province. The facility mixes ethanol imported from Brazil with home-grown sugarcane and cassava. PetroVietnam plans to build a second ethanol plant with an annual capacity of 100,000 cubic metres as it works to broaden its offering of...