(EnergyAsia, April 29, Tuesday) — China National Offshore Oil Corporation (CNOOC) said it is on track to complete its new 12-million tonne per year refinery at Huizhou in the southern province of Guangdong in October. It will be the upstream company’s first oil refinery, which could be eventually expanded to 24- million tonnes per year....
(EnergyAsia, April 29, Tuesday) — ‘Eco Expo Asia’ will be held at the AsiaWorld-Expo in Hong Kong from October 28 to 31 and will feature four new topics: Air Quality, Eco-friendly Products, Energy Efficiency and Waste and Recycling. The US Commercial Service published a report in 2007 called ‘Hong Kong (Pearl River Delta): Pollution Prevention (more…)
(EnergyAsia, April 29, Tuesday) — ‘Aviation Outlook and Jetfuels 2008’ will be held at the Hotel Intercontinental in Singapore from June 25 to 26. With aviation fuel becoming a bigger cost component for airlines, the industry needs to urgently address this growing threat to their survival. The conference will address the key initiatives in driving (more…)
(EnergyAsia, April 29, Tuesday) — ‘Investing in Infrastructure Assets Asia 2008’will be held at the Grand Hyatt Hotel in Singapore from June 9 to 13. The event will bring together global investors from five continents to meet infrastructure owners and regulators from over 10 countries to discuss the regulatory investment climate in Asia, how to (more…)
(EnergyAsia, April 29, Tuesday) — Norway’s Stolt-Nielsen SA said its Stolt Tankers & Terminals (ST&T) division has been awarded the opportunity to construct a chemical storage terminal on 15 hectares of vacant land on Singapore’s oil and petrochemicals hub on Jurong Island. The Oslo-listed company said it has received a formal notice of the award (more…)
(EnergyAsia, April 28, Monday) — ‘Asia Gas 2008 Conference’ will be held at the Grand Copthorne Waterfront Hotel in Singapore form May 29 to 30. The conference will feature case studies on Indonesia’s gas industry and its stake in the domestic power market with demand trends and opportunities in the country’s gas to power market, (more…)
(EnergyAsia, April 28, Monday) — The security and availability of oil is critical as it directly affects the world’s economic, political and social stability. ‘Infrastructure Security in Oil and Gas 2008’ which will be held at the Le Meridien Hotel in Jakarta, Indonesia from May 27 to 28 will address current issues faced by the (more…)
(EnergyAsia, April 28, Monday) — Pakistan’s total refining capacity now stands at 13.5 million tonnes per year, although actual output is only just under 11 million tonnes per year. The country’s largest refiner is Pak-Arab Refinery Limited (PARCO) with a capacity of 4.5 million tonnes per year. The other refiners include Pakistan Refinery Limited (ARL)...
(EnergyAsia, April 28, Monday) — Oil prices will have to stay above US$70 per barrel to justify investments in exploration and production projects, French oil major Total reckons. Crude oil prices have stayed above $100 for most of 2008, touching a record $119.90 on April 22. Like most companies, Total is under growing pressure to...
(EnergyAsia, April 28, Monday) — The budget for a proposed oil refinery project in Malaysia’s Kedah state has reached a new high of RM83 billion, up from earlier estimates of RM50 billion. (US$1 = RM3.13). Its promoters blamed the increased cost estimate on the decision to locate the “Kedah Hydrocrabon Hub” on a four-sq-km man-made...
(EnergyAsia, April 28, Monday) — The US and China should jointly develop energy efficiency programmes and technology, said US treasury secretary Henry Paulson. The world’s two top oil consumers need to cooperate to overcome increasingly difficult energy and environmental challenges, he said during a recent visit to Beijing. Mr Paulson called on Beijing to cut...
(EnergyAsia, April 28, Monday) — US oil firm ConocoPhillips, and GE Water & Process Technologies, a unit of GE, said GE has become an equal partner in ConocoPhillips’ Water Sustainability Center (WSC) in Qatar. Set within the Qatar Science & Technology Park (QSTP) in Doha and expected to open in late 2008, the WSC will...
(EnergyAsia, April 28, Monday) — A leading Canadian bank has predicted that crude oil will surge to US$150 by 2010 and US$225 a barrel by 2012 on growing supply scarcity and continued rising global demand. In a new energy report, CIBC World Markets also criticised the International Energy Agency (IEA) for including natural gas liquids...
(EnergyAsia, April 28, Monday) — South Korean oil company SK Energy said it has completed the building of a 60,000 b/d residue fluid catalytic cracking (RFCC) unit, raising its upgrading capacity to 162,000 b/d. Built at a cost of two trillion won, the new unit will produce gasoline and diesel from high-sulphur fuel oil when...
(EnergyAsia, April 28, Monday) — Dubai Supply Authority (DUSUP) said it will develop a floating liquefied natural gas regasification facility at the DP World Jebel Ali Terminal. The agency added that it has appointed Royal Dutch Shell as adviser, project manager and main LNG supplier when the terminal starts up in 2010. The new facility...
(EnergyAsia, April 25, Friday) — Dutch oil and gas storage firm Royal Vopak said it has agreed to fully acquire Intercontinental Terminals (M) Sdn Bhd in Johor state, Malaysia from owners Mitsui & Co and Tejana Trading Corporation Sdn Bhd. The terminal is located in the free trade zone of Johor Port in the Pasir (more…)
(EnergyAsia, April 25, Friday) — Nasdaq-listed A-Power Energy Generation Systems Ltd said it has signed a contract with National Power Supply Co Ltd, a subsidiary of Advance Agro Public Co Ltd, a large Thai-based conglomerate, to develop a 300 MW distributed power generation system worth $150 million for a large paper mill project located about...
(EnergyAsia, April 25, Friday) — The UN Environment Programme has recognised seven individuals for their leading roles in the battle against global warming and encouraging the world economy to become greener and leaner. This year’s winners of the 2008 Champions of the Earth were honoured at a special event in Singapore. They include Prince Albert...
(EnergyAsia, April 25, Friday) — Singapore Petroleum Co Ltd said its first quarter net profit fell 121 to S$98.5 million quarterly net profit on total revenue of S$2.7 billion, which was 41% higher than the same quarter of 2007. (US$1=S$1.35). SPC said that rising oil prices appear not to have dampened demand for refined petroleum...
(EnergyAsia, April 25, Friday) — Singaporean motorists have been hit with another price hike at the pumps this week, with gasoline up an average S$0.03 and diesel S$0.05 a litre. The increases are the ninth consecutive climb since last July. Caltex began the latest round of increases on Tuesday and was soon followed by the...
(EnergyAsia, April 25, Friday) — Exxon Mobil plans to implement a US$400 million upgrade at its Thai Esso refinery at Chonburi with completion in 2011. Esso Thailand is also preparing to raise 14.3 billion baht in an initial public offering to reduce its debt load and take advantage of reduced taxes for companies that list...
(EnergyAsia, April 25, Friday) — Taiwan state oil company CPC has enough oil in reserves to supply the country’s fuel needs for two months. Its stockpiles of gasoline will last 64 days while it has enough diesel for 75 days of use. Taiwan’s demand for gasoline and diesel has continued to climb over the past...
(EnergyAsia, April 25, Friday) — Ceylon Petroleum Storage Terminals Ltd (CPST) is building up its capacity to serve the country’s growing bunker fuel market and to improve supplies to ships calling at Colombo port. As part of the expansion programme, five tanks at the diesel and kerosene tank farm at Muthurajawela north of Colombo are...
(EnergyAsia, April 25, Friday) — The Indonesian government is pegging its fuel subsidises for the current fiscal year’s revised state budget to Rp 127 trillion, almost triple the previous allocation of Rp 42 trillion.(US$1 = Rp9,100). The government said it has been forced to revise the allocation to adjust to soaring international oil prices. The...
(EnergyAsia, April 25, Friday) — Clean Globe International (CGI), a member of the oil spill response company Lamor Group, has expanded its operations in Russia by acquiring a 26% share in environmental services company Ecoshelf Ltd. Specialising in oil spill response, waste management and other environmental protection services, Ecoshelf Ltd is a 10 year old...