(EnergyAsia, February 27 2012, Monday) — BENTEK Energy, a Colorado, US energy information and analytics company, said the Brent-WTI crude oil price differential will range between minus US$10 to US$25 a barrel or an average of US$14 over the next five years. For now, the average Brent-WTI spread for April 2012 to 2016 stands at (more…)

(EnergyAsia, February 27 2012, Monday) — Canadian upstream company Talisman Energy Inc said it has sold stakes in nine of its exploration licences in Papua New Guinea’s onshore Western Province to Japan’s Mitsubishi Corporation (MC) for US$280 million. Talisman said the farmout deal is effective January 1 2012, subject to approvals by government and joint (more…)

(EnergyAsia, February 24 2012, Friday) — JOil (S) Pte Ltd, a Singapore-based developer of the jatropha biofuel crop, said latest biotechnology processes could boost its oil yield from less than one ton of oil per hectare now to three tons. The company said it could achieve this by using breeding, tissue culture and genetic engineering (more…)

(EnergyAsia, February 24 2012, Friday) — The embattled Eurozone economy is facing the additional threat of record-high oil prices as Brent crude surged to a new all-time high after breaking 93.46 euro, its previous record set on July 3 2008. A combination of a weaker Euro, Iran’s threats to expand its oil embargo on Europe (more…)

(EnergyAsia, February 24 2012, Friday) — German chemicals giant BASF and China’s Sinopec have started work on expanding their joint venture petrochemical plant in Nanjing city after completing its second phase expansion at a cost of US$1.4 billion. The second phase, inaugurated last month, includes expansions of existing plants and construction of new facilities. The (more…)

(EnergyAsia, February 23 2012, Thursday) — The US Energy Information Administration (EIA) thinks there is a 1-in50 chance that benchmark crude WTI could exceed US$140 a barrel in June 2012. Based on recent futures and options data, the official energy statistics arm of the US government said the market believes there is a 1-in-15 chance (more…)

(EnergyAsia, February 22 2012, Wednesday) — The Australian government is focused on enhancing energy security, market reforms, developing the country’s vast natural gas resources, and encouraging the development of clean energy use. The goals were spelt out in the recently released draft Energy White Paper for public consultation, alongside the 2011 National Energy Security Assessment and (more…)

(EnergyAsia, February 22 2012, Wednesday) — Up to 33 million people living in poverty in Africa and Asia will gain access to low-cost solar energy by 2016, said solar power provider ToughStuff in response to a call from the Business Call to Action (BCtA). From its headquarters in Mauritius and offices in East, West and (more…)

(EnergyAsia, February 22 2012, Wednesday) — US conglomerate Koch Industries has started up a liquefied natural gas (LNG) business with an eye to meeting surging demand in Asia. Koch Supply & Trading Sárl, the company’s Geneva-headquartered energy trading division, recently hired Stephen Cornish to complement existing North American activities in Houston and optimise its global (more…)

(EnergyAsya, February 21 2012, Tuesday) — The vibrant oil and gas sector reported 1,322 oil and gas transactions last year for an increase of more than 5% compared to 1,258 in 2010, according to a survey by consultant Ernst & Young. But in value terms, the global aggregate of these transactions was down 7% to (more…)

(EnergyAsia, February 21 2012, Tuesday) — ABB, the Switzerland-based power and automation technology group, said it has signed an agreement with FG Emvelo, an independent solar power plant company, to develop high efficiency concentrating solar power (CSP) plants at Karoshoek Solar Valley in South Africa’s Northern Cape province. FG Emvelo,a joint venture between FG.de, a (more…)

(EnergyAsia, February 21 2012, Tuesday) — Brazil’s state-owned oil and gas major Petrobras has appointed Maria das Graças Silva Foster as CEO, succeeding José Sergio Gabrielli de Azevedo from February 13. Ms Silva Foster, who has been with Petrobras for 31 years, will also replace Mr Gabrielli in the company’s board of directors. A chemical (more…)

(EnergyAsia, February 21 2012, Tuesday) — Saudi Aramco Asia Company Limited (SAAC), a subsidiary of Saudi Aramco, said it and Indonesia’s state-owned PT Pertamina have signed a memorandum of understanding (MOU) to jointly evaluate the economic feasibility to build an integrated oil refining and petrochemical project in Tuban in Indonesia’s East Java province. The proposed (more…)