(EnergyAsia, May 29, Thursday) — Malaysia’s estimated oil reserves of three billion barrels could run out in about 10 years on current production and consumption trends, putting pressure on the government to make much better use of oil revenues while they last. Seeking to raise domestic oil prices as they are now heavily subsidised, Domestic...
(EnergyAsia, May 29, Thursday) — Kuwait National Petroleum Company (KNPC) plans to invest up to 5 billion dinars to upgrade and expand two of its refineries. (US$1=0.26 dinar). The company is due to launch tenders calling for upgrading the Mina Abdullah and Mina Al-Ahmadi refineries this August. KNPC aims to add 200,000 b/d of capacities...
(EnergyAsia, May 29, Thursday) — India could soon face a nationwide fuel supply squeeze as cash-strapped oil retailers are planning to reduce sales to limit losses in the country’s price-controlled market. Under orders from the government not to raise retail prices, the country’s main downstream companies IOC, HPCL and BPCL are threatening to reduce supplies...
(EnergyAsia, May 29, Thursday) — Technip, Chiyoda and Fluor said their Australian joint venture, known as TCF, has been awarded by Woodside Energy Ltd (WEL) services contracts to build two proposed liquefied natural gas (LNG) developments in Australia. The two separate contracts cover an onshore plant development study, as part of the selection process of...
(EnergyAsia, May 29, Thursday) — ExxonMobil could be looking to sell off an oil refinery, a chain of about 800 retail outlets, two fuel terminals and part of its marketing business in Australia. According to local media reports, the US major had been in talks with Anglo Dutch Shell in recent months to take over...
(EnergyAsia, May 28, Wednsday) — ‘LPG Trading and Pricing – Shipping, Contracts and Price Risk Management’, a course offered by the Oxford Princeton Programme, will be held in Singapore from June 18 to 20. Presented in association with international energy consulting company Richardson Lawrie Associates, the course aims to provide an understanding of the international (more…)
(EnergyAsia, May 28, Wednesday) — ‘Clean Energy and Power Generation 2008’, organised by Avail Corporation, will be held in Kuala Lumpur, Malaysia on August 14 to 15. While struggling to meet its fast growing energy demand, Asia must deal with the twin threats of natural resources depletion and global warming. To reduce dependence on fossil (more…)
(EnergyAsia, May 28, Wednesday) — The Vietnamese government is planning to double the country’s gasoline and diesel storage capacity to 220,000 tonnes by the end of the year. The additional capacity will boost the country’s oil products stockpile to about 10 days of consumption. Vietnam relies entirely on imports for its fuel as it does...
(EnergyAsia, May 28, Wednesday) — Venezuela’s state oil major Petroleos de Venezuela SA (PDVSA) and China National Petroleum Corp (CNPC) have agreed to build a refinery in China and to jointly develop oil production in Venezuela’s Orinoco region. CNPC said it will have a 40% stake while PDVSA has a 60% share in the venture...
(EnergyAsia, May 28, Wednesday) —State-owned China National Petroleum Corporation (CNPC) has started up a 600,000 cubic metre crude oil storage terminal in Jinzhou port in Liaoning province. The RMB680 million terminal in northeastern China consists of six tanks each of 100,000 cubic metres capacity. (US$1=RMB6.9). Jinzhou is an important hub for the shipment of oil...
(EnergyAsia, May 28, Wednesday) — China’s refining giant Sinopec plans to increase the capacity at its Zhenhai plant by 15% to 23 million tonnes per year. The expansion would help meet the country’s rising demand for petrochemical feedstocks, Sinopec said. The company, Asia’s largest oil refining, is building a one-million tonne per year ethylene plant...
(EnergyAsia, May 28, Wednesday) — PetroChina said it has resumed operations at a small oil refinery in Sichuan province following an outage after a massive earthquake struck the region on May 12 killing an estimated 80,000 people. The 28,000 b/d refinery at Nanchong, east of Chengdu city, was knocked out for more than two days,...
(EnergyAsia, May 28, Wednesday) — State-owned Saudi Aramco said it and French major Total have both confirmed their decision to invest in a 400,000 b/d full-conversion refinery in Jubail city in Saudi Arabia. The refinery will process Arabian Heavy crude to high–quality refined products that will meet the most stringent global product specifications and is...
(EnergyAsia, May 28, Wednesday) — UOP LLC, a Honeywell company, said it has been selected to supply technology, basic engineering services and equipment to ONGC Mangalore and Petrochemicals Ltd’s new aromatics complex in Mangalore, India. The new complex is expected to produce 900,000 metric tons per year of paraxylene and about 275,000 metric tonnes of...
(EnergyAsia, May 28, Wednesday) — Suzlon Energy Limited, the world’s fifth leading wind turbine maker, said its revenues for the financial year ended March 31, grew by 71% to 136,794.3 million rupees. (US$1=Rs40). The company reported consolidated wind turbine sales volume of 2,311 MW, compared to 1,456 MW for a growth of 59%. Profit after...
(EnergyAsia, May 27, Tuesday) — The Oxford Princeton Programme’s ‘Fundamentals of Technical Analysis’ workshop will be held in Singapore from June 18 to 19. The workshop aims to provide an understanding of technical analysis, common indicatiors and ways to use it. A trading simulation will allow delegates to make trading decisions based on the indicatiors. (more…)
(EnergyAsia, May 27, Tuesday) — The ‘Wind Energy Handbook’ draws on the collective industrial and academic experience of several experts to highlight the interdisciplinary nature of wind energy research and provide a comprehensive treatment of wind energy for electricity generation. As environmental concerns focus attention on the generation of electricity from clean and renewable sources, (more…)
(EnergyAsia, May 27, Tuesday) — State-owned Saudi Aramco and US independent ConocoPhillips said they have approved funding and will proceed to build a 400,000 b/d export oil refinery in the Saudi Arabian coastal town of Yanbu. The refinery is being designed to process Arabian heavy crude which would be supplied by Saudi Aramco. Due to...
(EnergyAsia, May 27, Tuesday) — The Atlantic Basin diesel market is so fundamentally constrained that it is driving both diesel and gasoline prices, forcing diesel higher and holding down gasoline, said US consultant ESAI. In the May issue of The Atlantic Basin Stockwatch Marketview, a six-month outlook on Atlantic Basin product markets, ESAI said that...
(EnergyAsia, May 27, Tuesday) — Nasdaq-listed SunPower Corporation, a Silicon Valley-based manufacturer of high-efficiency solar cells, solar panels and solar systems, has announced plans to build its third solar cell fabrication plant in Malaysia. The one-gigawatt manufacturing facility is expected to be constructed in two phases, with the first phase comprised of 14 solar cell...
(EnergyAsia, May 27, Tuesday) — Analysts have been busily slashing their forecasts for South Korea’s economic growth as oil prices continue to rise to new highs. At least one forecast by the Samsung Economic Research Institute warned that the economy could shrink if the Dubai crude price exceeded $150 a barrel, repeating the outcome of...
(EnergyAsia, May 27, Tuesday) — Norway’s DNV said it has acquired US-based wind consultancy company Global Energy Concepts (GEC). The combination of DNV’s global energy risk management expertise and GEC’s engineering and technical services establishes a leading player within the global wind power consultancy market. DNV said the acquisition will enable it to provide expanded...
(EnergyAsia, May 27, Tuesday) — Puda Coal Inc, a US-listed supplier of China’s high grade metallurgical coking coal for the production of steel, said its first quarter net income rose 11.6% to S$4.3 million or $0.04 per share on a fully diluted basis compared with the same quarter 2007. Revenue surged 35.2% to a record...
(EnergyAsia, May 27, Tuesday) — Bahrain’s Ithmaar Bank said it and Kazyna Capital Management, a subsidiary of Kazakhstan’s Sustainable Fund, Kazyna, have launched the $1 billion Ithmaar Kazyna CIS Energy Fund. Expected to have a term of ten years, the fund will target to meet the need for investment in the energy and energy-intensive sectors...
(EnergyAsia, May 27, Tuesday) — Public comment is being sought on methods to improve the environmental management of 1,000 underground fuel tanks in Australia’s Tasmania state. Releasing a paper canvassing options to manage the impacts of underground fuel storage systems, Tasmania’s Minister for Environment, Parks, Heritage and the Arts, Michelle O’Byrne, said leaking underground fuel...