(EnergyAsia, May 22, Thursday) — Oil and gas companies have created US$204 billion through M&A deals, with a further US$34 billion of value generated through access to discovered resource opportunities, said a leading consultant. The value created in M&A transactions has been generated in 195 deals from a total nominal consideration of $264 billion, said...
(EnergyAsia, May 22, Thursday) — Australia’s Queensland state is looking at building a major A$250 million wind power project that could power a big city like Cairns. (US$1 = A$1.04). German wind power engineering firm IFE has signed a letter of intent with Wind Power Queensland under which a 120 megawatt (MW) wind energy project...
(EnergyAsia, May 22, Thursday) — The Malaysian government is considering abolishing subsidies for diesel and selling it to domestic consumers at full market prices. The diesel price at the pump would rise sharply to RM2 per litre from their current subsidised levels of around RM1.58. (US$1 = RM3.2). Trade and Consumer Affairs Minister Shahrir Samad...
(EnergyAsia, May 22, Thursday) — The third edition of ‘Port Management and Operations’, an essential guide to port management in the 21st century, has just been released. The 12-chapter book provides a complete understanding of total port activity, enables managers working in specific areas of ports to see where they fit into the port’s operation (more…)
(EnergyAsia, May 22, Thursday) — Singapore’s Advanced Holdings Ltd said its first quarter net profit rose to S$2.1 million while its revenue surged from S$5 million to S$22.9 million over the same period last year. (US$1=S$1.36). The company attributed its improved performance to increased contributions in established markets such as China and growing markets in (more…)
(EnergyAsia, May 21, Wednesday) — Malaysian state oil and gas company Petronas said its subsidiary, Petronas Methanol (Labuan) Sdn Bhd (PML), has started commissioning work of its methanol plant in Labuan port with the firing up of the plant’s package boiler, the biggest in Asia. The company expects the plant to begin full commercial production (more…)
(EnergyAsia, May 21, Wednesday) –– A new report by independent research firm In-Stat has found that Nasdaq-listed 3M Corp’s local area network (LAN) switches are up to 60% more energy efficient, or “green,” than competitors’ products. The report said that by deploying an industry-leading switching solution from 3Com, customers can save money – and help (more…)
(EnergyAsia, May 21, Wednesday) — Ezra Holdings Limited, a Singapore-based integrated offshore support and marine services provider for the offshore oil and gas industry, said that its Vietnam offshore engineering fabrication arm has been awarded a fabrication and assembly contract worth US$55.4 million. The deal was secured by Saigon Offshore Fabrication & Engineering Limited (SOFEL),...
(EnergyAsia, May 21, Wednesday) — Two large power companies have warned that New Zealand could see an unprecedented wave of blackouts and electricity cuts during the current winter season. Powerco and Unison told consumers that the system is stretched thin because of poor hydro power output and insufficient gas-fired electricity capacity. They have asked customers...
(EnergyAsia, May 21, Wednesday) — Anger over widespread power cuts has sparked clashes between police and rioters in India’s northern Uttar Pradesh state. In a recent clash, police detained some 250 people as tempers soared as the power cuts came amid temperatures as high as 40C. Uttar Pradesh, one of India’s poorest states, is home...
(EnergyAsia, May 21, Wednesday) — PetroChina plans to double the capacity of its refinery in China’s northern Hebei province to 200,000 b/d. The refinery will use crude oil from the Jidong Nanpu oilfield which the company discovered last year as the largest oil find in China in recent years. Officials said the field has proven...
(EnergyAsia, May 21, Wednesday) — Oil and gas executives believe that oil prices will drop significantly from the current high level by the end of the year, according to the results of a survey conducted by KPMG LLP’s Global Energy Institute. In this year’s KPMG survey of 372 financial executives from oil and gas companies...
(EnergyAsia, May 21, Wednesday) — Japan’s Osaka Gas said it has committed to import around 500,000 tons of liquefied natural gas (LNG) a year from Australia through a new sale and purchase agreement (SPA) with the six North West Shelf Venture partners. Osaka Gas said it plans to purchase the LNG for a six-year period...
(EnergyAsia, May 21, Wednesday) — The Australian government plans to invest A$20 million in a joint effort with China on developing clean coal technology. (US$1=A$1.04). This latest initiative, announced recently by Australia’s Penny Wong, Minister for Climate Change and Water, means Canberra will invest a total of A$94.6 million in China-specific climate change and water...
(EnergyAsia, May 21, Wednesday) — In the latest Australian bidding round, France’s Total said it has acquired a 50% stake in two offshore permits in the Vulcan basin, in partnership with operator Apache (50%). Total also fully acquired one permit in the Browse basin, north of Ichthys. The two permits AC/P 42 and AC/P 43...
(EnergyAsia May 20, Tuesday) — Singapore-listed Technics Oil and Gas Limited, an integrated specialist services provider serving the world oil and gas exploration and production industry, said its first-half revenue to March 31 2008 rose 17% to S$38.62 million. (US$1=S$1.36). Gross profit was up 28% to S$9.57 million. However, its net profit fell to S$1.45 (more…)
(EnergyAsia, May 20, Tuesday) — Singapore-listed KS Energy Services Limited said its first quarter net profit rose by 107% to S$11.1 million while revenues climbed 69.6% to S$107.7 million. (US$1=S$1.36). The company said operating expenses were also higher in the quarter ending March 2008. Total operating expenses jumped by 89% to $22.3 million. KS Energy...
(EnergyAsia, May 20, Tuesday) — US-based AEI said Singapore’s GIC Special Investments (GICSI) Pte Ltd has paid US$400 million for a 11% stake in the company. GICSI is the private equity investment arm of state GIC, a global investment management company established in 1981 to manage Singapore’s foreign reserves. AEI said a nominee of GICSI...
(EnergyAsia, May 20, Tuesday) — ASL Marine Holdings Ltd, a Singapore-based integrated marine and shipyard company said its net profit for the first nine months of FY2008 starting July 1 2007 surged 54.3% to S$42.1 million. (US$1=S$1.36). Revenue was up by 21.9% to $285.1 million on the back of higher revenue contributions from the group’s...
(EnergyAsia, May 20, Tuesday) — Well-organised gangs of thieves are stealing tonnes of gasoline from Vietnamese fuel suppliers. The depots in Cat Lai in Ho Chi Minh City and Nha Be have been the repeated targets of thieves with the help of delivery truck drivers. The gangs then sell the stolen fuels to service stations,...
(EnergyAsia, May 20, Tuesday) — Japan is set to pay US$300/tonne for imported coking coal from Australia, up three times from last year. The soaring prices, which will add billions of dollars to Australia’s export earnings, come amid supply problems and rising demand around the Asia Pacific region. Flooding in Australia’s Queensland has cut coking...
(EnergyAsia, May 20, Tuesday) — Coal-seam gas (or coalbed methane) production in the states of Queensland and New South Wales could sharply boost Australia’s exports of liquefied natural gas (LNG) in the coming years. Coal-seam gas could also feed some 70% of new power stations in Australia by 2017. In Queensland, about 13% of electricity...
(EnergyAsia, May 20, Tuesday) — Japan’s Chiyoda Corporation said it has been awarded the front-end engineering design (FEED) and execution planning contract for Qatar’s Barzan onshore gas plant. The contract was awarded by the Qatar Petroleum while RasGas Company Limited will oversee the FEED work. The project will help meet Qatar’s own natural gas demand...
(EnergyAsia, May 20, Tuesday) — World oil demand is expected to rise to 86.8 million b/d this year from last year’s 85.8 million b/d, said the International Energy Agency (IEA) in its latest monthly forecast. Last month, the Paris-based agency had predicted world demand to rise to 87.2 million b/d. It said: “Slower economic growth,...
(EnergyAsia, May 20, Tuesday) — This comment was first published in www.RenewablesReport.Blogspot.com. Something happened to all of us the last few decades. We all have been adopting the American way of life, including the Chinese, Indians, Russians and the Arabs of the oil-rich parts of the Middle East. Whether people care to admit it or...