per year refinery in the country’s far eastern port of Nakhodka. The refinery will likely focus on meeting the needs of the north Asian markets. Nakhodka is the terminus of Russia’s East Siberia-Pacific Ocean (ESPO) pipeline, one of the world’s longest oil pipeline projects and one of the largest development projects in Russia. ESPO will...
division of Singapore’s Keppel Integrated Engineering (KIE), has secured a 34 million euro turnkey contract for a Combined Heat and Power (CHP) waste-to-energy plant owned by Amotfors Energi AB in Amotfors, Sweden. (US$1==0.62 euro). When completed in 2010, the plant will process close to 70,000 tonnes of waste per year to generate steam and electricity....
(EnergyAsia, April 17, Thursday) — World renowned energy publisher Petroleum Economist has released three books: Encyclopedia of LNG, LNG – A Glossary of Terms and Fundamentals of Gas to Liquids. For more information on these books, please contact Admin@EnergyAsia.com. Encyclopedia of LNG The liquefied natural gas business has embarked on a sustained period of unparalleled (more…)
(EnergyAsia, April 17, Thursday) — ‘China Nickel 2008’ will be held at the Grand Hyatt hotel in Shanghai, China from May 28 to 29. As China continues to grow, its demand for metal has escalated and despite the fall in nickel price, the country’s demand continues to soar with consumption rising six-fold since 2000. ‘China (more…)
profit for 2007 rose 5.5% to RMB 55.53 billion while its total revenue increased by 13.4% to RMB1,209.71 billion. (US$1=RMB7). The board has proposed to declare a dividend of RMB0.165 per share on a full-year basis. After deducting an interim dividend of RMB 0.05 that has already been paid, the final dividend for 2007 would...
Ta7 and Ta8 permits in Mauritania to Qatar Petroleum International. Total, the operator, will retain a 60% stake in the blocks covering a total surface of 58,000 sq km. The assignment agreement was signed by Qatar’s Deputy Premier Abdullah Al Attiyah, who is also chairman of Qatar Petroleum International, and Christophe de Margerie, Total’s CEO....
industry, the Indonesian government has optimistically forecast that the country will produce 1.05 million b/d of oil this year, up from its earlier target of 910,000 b/d. It added that investment in the domestic oil sector could reach US$1.16 billion. The government has been pressing operators to fully develop their fields to take advantage...
oil prices on the world markets as it cannot continue to maintain costly fuel subsidies, said state oil and gas company Petronas. The government has been keeping domestic fuel prices below world market levels through an increasingly costly subsidy programme. Fuel subsidies are expected to rise to RM35 billion this year from RM16 billion last...
to expand and upgrade its 110,000 b/d refinery in Tabangao, Batangas following recent events that have cast uncertainty over the country’s downstream fuel market. A cause for concern is the recent court ruling that the huge Pandacan oil depot in Manila city must be relocated as it poses safety and health risks to residents,...
replace its Pandacan oil depot in Manila city following a court ruling that the facility must be relocated due to the safety, health and environmental risk it poses to residents. The terminal is operated by Petron together with Pilipinas Shell and Chevron Caltex Philippines. The Pandacan facility handles half the country’s fuel supplies, and...
(EnergyAsia, April 16, Wednesday) — Singapore’s Sembcorp Industries said subsidiary Sembcorp Gas has signed an agreement to import 90 billion British thermal units (Btu) per day of natural gas from Indonesia.Sembcorp Gas signed the conditional US$5.5 billion agreement with producers Premier Oil, KUFPEC, Hess and Petronas for the supply and delivery of natural gas piped (more…)
(EnergyAsia, April 16, Wednesday) — Keppel Singmarine Pte Ltd, a wholly-owned subsidiary of Singapore’s Keppel Offshore & Marine, said it is on track to deliver its third of the six Anchor Handling Tug/Supply (AHTS) vessels ordered by its repeat customer, GulfMark Offshore Inc.As with the previous two projects, Keppel Singmarine said it was presented a...
(EnergyAsia, April 16, Wednesday) — Ezra Holdings Limited, a leading integrated offshore oil and gas support and marine services provider, has reported an eightfold leap in net attributable profit (PATMI) to S$207.4 million for the half-year ended February 29 2008. Its turnover doubled year-on-year to S$136.7 million. (US$1=S$1.35).Group gross profit jumped 101% to S$52.5 million,...
(EnergyAsia, April 16, Wednesday) — Thailand could miss its 6% growth target for 2008 because of the impact of the rising oil prices on its economy and an ineffective government stimulus package.Oil prices are forecast to stay high throughout 2008 amid tight supplies and continued strong demand from China and India. US crude futures hit...
(EnergyAsia, April 16, Wednesday) — First Solar, a US maker of solar panels, has started building its second and third production plants in Malaysia’s Kedah state.The company’s first plant is due to open in April while the others are expected to come onstream by the end of the year. First Solar said it is already...
(EnergyAsia, April 16, Wednesday) — Indonesia fears that its fuel subsidies could triple this year to more than 13 trillion rupiah as world oil prices continue to hit new highs. (US$1=9,000 rupiah).The government has repeatedly stated it will not raise domestic fuel prices to avoid social unrest in the run-up to the country’s 2009 elections....
(EnergyAsia, April 16, Wednesday) — Cambodia is set to join the ranks of oil producing countries in 2011 when it begins pumping from several offshore fields that are estimated to hold hundreds of millions of barrels.In addition to oil, Cambodia also has six blocks of offshore natural gas reserves. US major Chevron is credited with...
(EnergyAsia, April 16, Wednesday) — UN secretary-general Ban Ki-moon wants nations to rethink their biofuel policies due to the impact of using food crop for fuels on food prices.More arable land is being used to grow biofuel crops at the expense of food production, raising the spectre of steep increases in food prices and the...
(EnergyAsia, April 16, Wednesday) — Finland’s Wartsila said it has been awarded a turnkey contract worth 134 million euro by Nishat Power Ltd, an independent power producer that will supply electricity to the national grid in Pakistan. (US$1=0.61 euro). The power plant, to be located in Lahore city, will have a total gross electrical power...
(EnergyAsia, April 16, Wednesday) — IFC, a member of the World Bank Group, and Beijing Deqingyuan Agriculture Scientific have signed an agreement to help reduce methane emissions from the company’s chicken farm.Methane, a greenhouse gas, is captured from chicken litter and turned into biogas to produce electricity. Through the clean development mechanism of the Kyoto...
(EnergyAsia, April 14, Monday) — Population growth and globalisation has helped boost energy use throughout the world. As demand for oil and gas continues to escalate, the world’s energy thirst has to be met through traditional and unconventional sources. Experience shows that price volatility and alternating boom and bust cycles are harmful to both the (more…)
(EnergyAsia, April 15, 2008, Tuesday) — With oil, gas and coal prices at record levels, conference organiser Informa IBC Asia is looking at a busy year ahead. On March 24, two of the group’s senior executives sat down with EnergyAsia for a filmed interview giving an overview of their plans ahead. Rebecca Wolfe, who looks (more…)
(EnergyAsia, April 15, Tuesday) — New Zealand’s new biofuel regulations will drive up gasoline and diesel prices in the country when they come into force on July 1, said oil major BP. The company said the bill will drive up its fuel supply cost, leaving it with no choice but to pass on the cost...
(EnergyAsia, April 15, Tuesday) — The Huaneng Group said it plans to build China’s largest wind power farm in Fuxin city of northeast Liaoning province. Huaneng, more known for its coal-fired power plants, said it will begin construction of the 200-turbine project in June. It expects the project to help reduce annual carbon dioxide emissions...
(EnergyAsia, April 15, Tuesday) — Thai oil refiner and distributor Rayong Purifier has forecast a 10% increase in 2008 sales to 22 billion baht, thanks to increased biodiesel production. (US$1=31 baht). The company is focusing its efforts on a biodiesel plant it is building via a subsidiary, Pure Biodiesel Co (PBC). The plant will produce...