tons, compared with 36.39 million tons in 2006, according to CNPC’s Petroleum Industry Overview, 2007-2008. Crude imports totalled 163 million tons, up 12.4% year-on-year, indicating that refiners were helping to meet some of the country’s demand. China’s economy grew by 11.4% in 2007, its fastest rate in 13 years. The apparent consumption of crude oil,...
new study that the emerging global “green economy” could help create millions of new “green jobs” in the coming decades. The report entitled Green Jobs: Towards Decent work in a Sustainable, Low-Carbon World, said changing patterns of employment and investment resulting from efforts to reduce climate change and its effects are already generating new jobs...
conflict with Georgia, the small former Soviet republic that has become a key transport hub for oil and gas shipments. The short war and ongoing tension in the region seem to have put in doubt plans for new Trans-Caspian pipelines to ship oil and gas from Central Asia to Europe. The logical alternative market for...
supply of 3.3 million tonnes per year of liquefied natural gas (LNG). According to local media, the parties signed a master sales and purchase agreement for supplies from Oman’s Qalhat LNG export terminal but did not disclose pricing or other details. Oman reportedly has a total LNG capacity of 10 million tonnes per year. The...
increase cassava production from a joint project in Zamboanga on Mindanao island to boost feedstock supplies to Basic’s ethanol plants. Under their agreement, the firms will plant cassava in Zamboanga on 500 hectares of land, up from 150 hectares now. Financial terms were not disclosed. Basic Energy is working to diversify feedstock for its...
By Rana Basu, Trade Capture * There are many opportunities to realise returns through improved risk management along the petroleum supply chain. Technology that is designed to provide previously untapped solutions for traders to profit in new ways is a sure bet for the success and future direction of energy trading and risk management (more…)
(EnergyAsia, October 6, Monday) — Singapore’s Phoenix Solar Pte Ltd, the regional subsidiary of Germany’s Phoenix Solar AG, has been awarded a contract by leading Swiss pharmaceuticals manufacturer Lonza Biologics Tuas Pte Ltd for the turnkey installation of what will be Singapore’s largest solar PV system upon completion in the second quarter next year. Phoenix...
(EnergyAsia, October 6, Monday) — Russian pipeline firm Transneft has criticised BP for allegedly blocking the expansion of the Caspian crude oil pipeline. Started in 2001, the line carries crude oil from Kazakhstan to Russia. While partners in the Caspian Pipeline Consortium – which includes Chevron, BP, Russia and Kazakhstan – had agreed to expand...
(EnergyAsia, October 6, Monday) — The push towards coal-to-liquid (CTL) projects in China seems to have cooled off as investors and the government are becoming more aware of financial and environmental risks. The powerful National Development and Reform Commission (NDRC) has now decided to allow only two CTL projects, both involving Shenhua Group, to proceed...
(EnergyAsia, October 6, Monday) — Punj Lloyd, an India-based engineering firm, said it has been awarded a $800 million engineering, procurement, installation and commissioning contract for a gas transmission project from Qatar Petroleum. The project includes the laying of 211 km of pipeline with associated stations and infrastructure. The project will transport 2,000 million standard...
(EnergyAsia, October 6, Monday) — China’s Yingli Green Energy said it has signed a sales contract with S.A.G. Solarstrom AG, a leading manufacturer, independent developer and system integrator in the solar power and solar investment market in Europe. Yingli Green Energy will supply 36.8 MW of PV modules to S.A.G. Solarstrom from December 2008 to...
(EnergyAsia, October 6, Monday) — Nanjing-based China Sunergy said it has signed a seven-year sales agreement with Wuxi Guofei Green Energy Source Co Ltd, a Chinese solar energy company. China Sunergy will supply Wuxi Guofei with 10 MW of monocrystalline cells per year from 2009 through 2015. China Sunergy said it will receive an advance...
(EnergyAsia, October 6, Monday) — China had a total of 374 million tons of oil refining capacity in 2007, compared with 369 million tons the previous year. In 2007, its refineries produced 195 million tons of refined oil products, up 7.2% from 2006. Most of China’s refineries are small, with only 10 having crude processing...
(EnergyAsia, October 6, Monday) — The following update is provided by CNPC’s Consulting Company. Sinochem Corp, China’s biggest chemical trader, is building a 12 million-ton-a-year refinery in the southern province of Fujian. The plant in Meizhou Bay will process five million tons of heavy crude when its first phase is completed by 2009. Shaanix Yanchang...
(EnergyAsia, October 6, Monday) — Japan’s Inpex Holding and France’s Total SA said they will jointly invest in a $20 billion liquefied natural gas (LNG) export terminal in Australia’s Northern Territory state. When it starts up by 2015, the plant will have the annual capacity to produce eight million metric tons of LNG and 1.6...
expansion at the Tengiz field in Kazakhstan that will nearly double production capacity at one of the world’s largest oil fields. The completion of the expansion brings Tengizchevroil’s daily crude production capacity to 540,000 barrels. The first phase of expansion, accomplished earlier this year, increased daily capacity from 310,000 barrels to 400,000 barrels. “This accomplishment...
per day from October 1. The Time Charter Equivalent (TCE) contracts are available on the Imarex electronic trading platform. This is the first time electronic trading has been made available for TCE contracts. It is also the first time clearing has been made available for TCE contracts. “Physical time charters are traded in US dollars...
groundbreaking ceremony of the of the Sino-Singapore Tianjin Eco-City last week. With a planned population of about 85,000, the approximately 4 sq-km start-up area will be developed in three stages over the next three to five years by the proposed Sino-Singapore Tianjin Eco-City Investment and Development Co Ltd (SSTEC Investment & Development) which is being...
equivalent in 2007, said CNPC’s consulting arm. Coal remained the main energy source. According to the National Statistical Bureau, China’s coal consumption rose by 7.9% to 2.58 billion tons, while crude oil use was up 6.3% to 340 million tons. Consumption of natural gas surged by 19.9% to 67.3 billion cubic meters...
2007, said the Ministry of Land Resources. In 2006, China’s reported new proven crude oil reserves of 949 million tons and 581.6 billion cubic metres of proven natural gas reserves. Last year, CNPC’s listed subsidiary PetroChina found several oil fields that contain reserves of at least 100 million tons including the Jidong Njanpu, Daqing...
The slow growth rate reflected the problems in the maturing and steady decline of the country’s ageing eastern fields. Natural gas output helped offset oil’s slow growth, rising 23.1% to 69.31 billion cubic meters. China has set a target of raising the proportion of natural gas in its total energy mix to 5.3% in...
consecutive years of very high growth, the Asian Development Bank (ADB) predicts in a new report. The Asian Development Outlook 2008 Update (ADO Update) has forecast India’s growth rate to decrease to 7.4% in FY2008 and decelerate further to 7% in FY2009. The new figures are down on ADB’s April forecasts of 8% and 8.5%...
available 3,500 MW of electricity to nearly 10 million people in India and China. Of the $5 billion total project value, Suzlon Green Power will provide approximately $1.5 billion in equity. Suzlon Green Power, a 100%-owned enterprise of India’s Tanti family, made the announcement at last week’s 2008 Clinton Global Initiative (CGI). “The urgent global...
be powered using GE Energy gas turbines. The plant is key to the continuing development of Kota Jababeka or Jababeka city in West Java as a centre of population and commerce that offers a high quality of life, and is expected to serve as a model for the country’s future growth. The self-sufficient development...
(EnergyAsia, October 3, Friday) — The latest figures on the global carbon budget released in Washington and Paris last week showed that human-generated carbon dioxide emissions have increased by a four-fold rate since 2000. “This is a concerning trend in light of global efforts to curb emissions,” said Global Carbon Project (GCP) executive-director, Pep Canadell,...