China unit from January 1. The company said Mr Zhu has significant experience in leading and developing industrial business operations He last worked as country manager for Eaton Truck & Bus Components in Shanghai, a position he has held since 2005.   Mr Zhu will replace Clas-Eirik Strand, who will retire on February 28, 2009,...

between the US and China for access to oil, minerals and other raw materials. Beset by financial and economic problems, and its disastrous war in Iraq, the US has watched as China has succeeded in developing an influential political and economic in Africa. Beijing has also firmed up trade, military and cultural ties with African...

economic growth for 2008 and 2009, said the International Monetary Fund (IMF). In its latest report, Regional Economic Outlook: Middle East and Central Asia, the IMF said: “The region has continued to experience strong growth in 2008, outpacing global growth for the ninth year in a row. Growth is underpinned by high commodity prices, strong...

Limited, or LNG Limited, to proceed more cautiously with its planned liquefied natural gas (LNG) project in Gladstone in Queensland state.   The company said it needed help from potential customers or other partners in financing the A$500 million project. (US$1 = A$1.63)  Against the backdrop of the global financial and credit crisis, debt-financing and...

plans to invest S$750 million to turn its three oil-based power plants to use natural gas. (US$1 = S$1.50). The upgrades will take place over a three-year period through 2011. Lion Power will procure the gas from the new LNG terminal which is currently being built on the country’s petrochemicals hub on Jurong Island. Longer-term,...

in Vietnam, said its majority owned subsidiary, Cavico Hydropower Construction, has achieved a breakthrough on the headrace tunnel at the Dasiat hydropower project in Vietnam. The breakthrough was achieved October 18 after 27 months of work. The headrace tunnel is 1.44 miles long and 91 inches in diameter. Cavico Hydropower provided construction services and supplied...

Österreichische Industrieholding AG said it has raised its shareholding in Austria’s oil and gas firm OMV Aktiengesellschaft to 50.7% effective October 15. IPIC owns 57,485,686 shares, raising its stake from 17.6% to 19.2% of the registered capital. The consortium now hold 151,985,676 shares of OMV’s registered capital of 300,000,000 OMV shares. With group sales of...

gas supply contracts with some of the largest solar cell manufacturers in the world, “confirming its position as the number one gas supplier to this fast-growing industry.” To fulfill these new long-term contracts, Air Liquide said it will invest over 20 million euro to supply nitrogen and hydrogen from on-site generators as well as bulk...

vertically integrated photovoltaic (PV) product manufacturer, said it will assist its customers with access to project finance advisory services and potential funding solutions through cooperation with Deutsche Bank. Through this proposed cooperation, the two companies expect to provide a convenient “one-stop shop” solar project solution, offering high quality PV products and solar project financing advisory...

agreement with Prayag Green Solar Power Private Limited to develop and construct a two-megawatt solar power project in Chitrakoot in India’s Uttar Pradesh state. Clear Skies Solar said the deal has opened the way for it to execute other contracts in the region including a previously announced $20 million project to design and construct a...

to Singapore and Indonesia’s Batam Island said it has signed a new agreement to transport gas to Singapore to be followed by new deals to supply to Batam. The consortium, led by UK’s Premier Oil, is supplying the gas from the West Natuna Sea Block A production sharing contract (PSC) area. Premier Oil, the operator,...

and damage to the UK economy, said a UK industry task force comprising representatives from eight private companies. The “Oil Crunch: Securing the UK’s Energy Future” is the first multi-company study to sound the warning on peak oil and its implications for the UK. Its members include Arup, FirstGroup, Foster and Partners, Scottish and Southern...

(EnergyAsia, October 31, Friday) — Oil has become the focus of increasing tensions in global power politics, with China and India revving up the competition for resources against the US. Much of the US global predominance is based on its access to inexpensive energy sources around the world, particularly oil. However, as China and India...

(EnergyAsia, October 31, Friday) — The economies of the Middle East and Central Asia have continued to experience strong growth in 2008, outpacing global growth for the ninth year in a row, the International Monetary Fund (IMF) said in its latest regional economic outlook. Growth is underpinned by high commodity prices, strong domestic demand, and...

(EnergyAsia, October 31, Friday) — International air traffic plunged sharply in September as the industry watchdog admitted losses will likely exceed its earlier forecast for a record $5.2 billion in red ink this year. The International Air Transport Association (IATA) said passenger traffic declined 2.9% while cargo traffic dropped 7.7% compared to the same month...

(EnergyAsia, October 31, Friday) — South Korea’s LG Electronics said its board of directors has decided to convert the company’s A1 plasma panel-manufacturing line in Gumi city into solar cell production lines. LG plans to invest 220 billion won to establish two production lines by 2010. (US$1=1,400 won). The company expects the first line to...

(EnergyAsia, October 31, Friday) — The Asian Development Bank (ADB) said it is helping Himachal Pradesh state become India’s “hydropower state” through an $800 million multi-tranche financing facility. The eight-year loan package will help finance the construction of several run-of-river hydropower generating plants that will bring in combined capacity of 808 megawatts (MW) for the...

(EnergyAsia, October 31, Friday) — China National Petroleum Corp (CNPC) has started construction work on two small oil refineries in the landlocked African states of Chad and neighbouring Niger. The refineries will be the first for the two impoverished countries which have benefited from the resource boom and rising Chinese investment in recent years. Niger’s...

(EnergyAsia, October 31, Friday) — Australian upstream company Origin Energy Limited said US energy firm, ConocoPhillips, has received approval from the Foreign Investment Review Board (FIRB) to acquire a 50% share of a coal-seam gas (CSG)-to-LNG joint venture with Origin. The transaction is now unconditional. ConocoPhillips will now have to make an up-front payment of...

(EnergyAsia, October 31, Friday) — Following news of BG’s plans to acquire Australia’s Queensland Gas Company Limited (QGC), AGL Energy Limited (AGL) said it will sell all its shares in QGC to BG unless a superior competing offer emerges. BG’s announcement was made by subsidiary BG International (Australia) Investments Pty Limited. AGL will receive A$5.75...

engineering giant Foster Wheeler Ltd and China’s Wuhuan Engineering Company, has been awarded contracts to undertake a feasibility study for an 80,000-b/d coal-to-liquids (CTL) plant in the Ningxia Hui Autonomous Region in the coal-rich western part of China. Foster Wheeler Energy Limited and Foster Wheeler International Engineering & Consulting (Shanghai) Co Ltd will work with...

investment in the African state has claimed responsibility for killing five Chinese workers out of nine kidnapped last week. Sudan’s Foreign Ministry has blamed the Justice and Equality Movement, a Darfur rebel group, for the attacks. Two of the hostages have escaped while the remaining two are still with their kidnappers who are growing increasingly...

subsidiary, Mitsui Oil Asia Singapore (MOAS), have been charged with “deceptively concealing” losses pertaining to the physical and futures trading losses of naphtha contracts in Singapore in late 2006. Noriyuki Yamazaki, MOAS’s former head of naphtha trading, his immediate boss, Wada Takayoshi, and the company’s executive vice-president Masatsugu Takahashi were charged in Singapore for their...

country may restrict exports of Alberta’s oil sands and bitumen to countries with low greenhouse gas emissions standards. Officials in Alberta, home to the bulk of Canada’s oil sands production, were caught by surprise and are expected to resist any attempts by the central government to curb the province’s oil exports to energy-hungry Asia. Canadian...

Corp (IOC) to defer some of its projects, officials said. IOC is working on plans to install delayed coker units at its refineries in Haldia and Mathura and is also planning a petrochemicals plant at Haldia. Company insiders said that they could not rule out that those plans may have to be delayed given the...