to venture into solar energy. The company is expected to announce plans for building solar power projects in the Indian states of Gujarat and Rajasthan sometime this year. Suzlon Energy chairman and managing director Tulsi R Tanti had earlier said that India offers “enormous opportunity” for both solar and wind power projects....
oil markets an early lift. The headlines were carbon copies of past years as Russia again shut down natural gas supplies to Ukraine, causing much anxiety to Europe and soul searching as to why they still do business with Moscow. Israel bombed Gaza, killing hundreds of civilians, while the world pondered and then worried if...
successful commercial aviation test flight using “sustainable second-generation” jatropha-based biofuel last week. The company said that more than a dozen key performance tests were undertaken in the two-hour test flight from Auckland International Airport. A biofuel blend of 50:50 jatropha and Jet A1 fuel was used to power one of the Air New Zealand Boeing...
megawatt (MW) Amlan hydroelectric power plant after submitting the highest bid in the Philippine government’s final sale schedule for 2008. State agency Power Sector Assets and Liabilities Management Corporation (PSALM) said ICS Renewables offered US$230,000 for the Visayas-based hydropower facility. The winning bid exceeded the reserve price set by the PSALM Board for the generating...
storage terminals and tanks to fill up as it attempts to take advantage of low oil prices. The General Chamber of Commerce estimates that private firms have enough capacity to store up to 200 million tonnes of crude oil. The stored oil will form part of the country’s strategic petroleum reserves. Crude oil now cost...
(ONGC), is proceeding with its bid to take over Russia’s Imperial Energy in a US$2 billion cash deal. However, ONGC still has the option to drop the deal if its bid it does not obtain 90% of acceptance from Imperial shareholders. ONGC is believed to be ready to walk away from the deal which was...
counting in offshore vessels as global oil demand has fallen in the wake of the economic crisis. Iran has also been forced to take up storage in terminals in the Netherlands and Japan. As the second-largest oil producer in the Organisation of Petroleum Exporting Countries (OPEC), Iran is hurting from the sharp fall in oil...
(EnergyAsia, January 2, Friday) — The Oxford Princeton Programme will be holding the ‘Fundamentals of Energy Futures’ workshop in London, UK on January 26. The same course will be held in Singapore on May 18. This introductory course on energy futures, contracts and markets is a highly interactive workshop which includes a trading simulation and (more…)
(EnergyAsia, January 2, Friday) — UK-based KBC Advanced Technologies plc (KBC) said it has been appointed technical consultant for a major project for Hyundai Oilbank (HDO) in South Korea. KBC will be providing front-end engineering design (FEED) supervision services over the course of the 10-month contract for Hyundai Oilbank which is undertaking a multi-billion dollar (more…)
(EnergyAsia, January 2, Friday) — The United Arab Emirates (UAE) is planning to upgrade two of its refineries in Ruwais and Jebel Ali to meet its growing oil demand. The upgrade of the 400,000 b/d Ruwais plant is expected to be completed in late 2011 while the Jebel Ali project will be completed later this...
(EnergyAsia, January 2, Friday) — China has set up a national centre to manage the country’s strategic petroleum reserves (SPR). Reporting to the National Development and Reform Commission (NDRC), the centre will decide on when to release or refill the oil stockpiles, and monitor supply and demand in China and the world. The SPRs bases...
(EnergyAsia, January 2, Friday) — Engineering giant Foster Wheeler Ltd said its subsidiary, Foster Wheeler International Corporation (Thailand branch), has been awarded contracts to help build a new chemicals facility at Banchang, near Map Ta Phut in Thailand. Foster Wheeler said it has also been awarded a contract for overall services support. The contracts were...
(EnergyAsia, January 2, Friday) — Thai upstream company PTT Exploration and Production Public Company Ltd said its wholly owned Australian subsidiary has agreed to fully acquire Coogee Resources Ltd (CRL), a privately held upstream company based in Western Australia for $170 million in cash. PTTEP said CRL had net debt of approximately US$243 million as...
(EnergyAsia, January 2, Friday) — Russia and Europe have been jockeying hard for the oil and gas riches in the Caspian Sea over the past year, but the real winner may be China. Despite intense wooing, neither Turkmenistan nor Azerbaijan have acceded to Russian offers to buy their natural gas at market prices. Russian gas...
(EnergyAsia, January 2, Friday) — An integrated series of solutions will be required to manage increases in global energy demand and greenhouse gas emissions that will result from population growth and economic expansion, Exxon Mobil Corporation said in releasing its updated Outlook for Energy: A View to 2030. The Outlook for Energy is developed annually,...
(EnergyAsia, January 2, Friday) — Japanese trading house Itochu Corp said it and US oilseed processing giant Bunge Group will invest $800 million to build a bioethanol plant in Tocantins in northern Brazil. Due to begin operating in 2010, the plant has the capacity to crush up to 4.2 million tons of sugar cane, starting...
(EnergyAsia, January 2, Friday) — British major BP is making progress in exiting from its complicated shareholding and business in the Caspian Pipeline Consortium that owns and operates a pipeline delivering Kazakh and Russian crude to a terminal on the Black Sea. Last month, it agreed to sell its 19% stake in a joint venture...