moving closer to cooperation after years of differences and even enmity. A delegation of senior OPEC officials will be in Moscow this month to discuss closer ties between the two sides. If their rapprochement should lead to a formal alliance or even Russian membership in OPEC, the oil markets could be supported. Gazprom head Alexei...

trading from this quarter. Following the announcement of its new strategy in February 2008, CAO began jet fuel hedging and trading activities on a small scale. Further progressing the implementation of this strategy, CAO said it plans to also start trading other oil products when market conditions are conducive. Meng Fanqiu, CAO’s CEO, said: “Embarking...

establish a strategic alliance in power transmission and distribution. The alliance will focus on providing turnkey electrical solutions in the power generation, mining, metals, mineral processes and material handling sectors. The synergy of both companies’ current product portfolios will offer customers an adapted and complete solution for all their power distribution, control and automation needs....

joint venture agreement with Mumbai, India-based Adani Enterprises Limited to supply marine fuel and oil products into India. The partners will invest US$10 million in an equal joint venture, Chemoil-Adani Private Limited, that initially will lease storage terminal facilities from the Mundra Port Special Economic Zone. The new company’s operations will be supported initially by...

for Climate” ship tour to bring attention to the rampant destruction of the country’s ancient rainforests. The ‘Esperanza’ arrived early this week in Jayapura, Papua province, the last frontier of intact ancient forest in Indonesia, to highlight the catastrophic impact that deforestation – for palm oil, logging and other industry expansion – has on the...

  thin-film solar cell modules from its plant in Katsuragi city in Nara Prefecture. Using glass substrates measuring 1,000 x 1,400 mm, the plant began mass production in October. The glass substrates are 2.7 times larger than previous 560 x 925 mm substrates. Sharp said the addition of this new line expands annual thin-film solar...

(EnergyAsia, October 8, Wednesday) — Bunker fuel prices at Sri Lanka’s Colombo port are expected to become more competitive after the High Court ordered a strategic storage site be converted into a common facility accessible to various suppliers. The conversion was part of a court decision that ordered Lanka Marine Services (LMS) to surrender its...

(EnergyAsia, October 8, Wednesday) — The Philippines need more than 60 days of emergency oil stockpile as operated by the industry, said consultants Asia Pacific Basin for Oil Strategies (APBOS), which is advocating the government to start building its own strategic petroleum reserve (SPR). APBOS is proposing a 90-day reserve to buffer the country in...

(EnergyAsia, October 8, Wednesday) — A 2002 deal to supply natural gas from Indonesia’s Block B in the Natuna Ssea to Malaysia’s Duyong facility may turn out to result in big losses, an Indonesia lawmaker has warned. Under the deal, Duyong, which is operated by Malaysia’s state energy major Petronas, would get gas supplies from...

(EnergyAsia, October 8, Wednesday) — The International Monetary Fund (IMF) said Saudi Arabia’s surging oil revenues have led to large fiscal and external surpluses, and also challenges from inflation and need for structural reforms to boost job creation and diversify the economy. The IMF said the kingdom needs to find solutions to share its wealth...

(EnergyAsia, October 8, Wednesday) — Japan’s Nippon Oil Corporation and Sanyo Electric Co Ltd said they are looking into establishing a joint venture to supply thin-film solar cells in response to growing demand for solar energy. Thin-film solar cells are forecast to be the lowest cost solar cells available. Sanyo manufactures and sells Heterojunction with...

(EnergyAsia, October 8, Wednesday) — With domestic oil production expected to remain flat, China’s dependence on oil imports is expected to reach 60% of consumption by 2010, said CNPC’s consulting arm. In its Petroleum Industry Overview, 2007-2008 report, the company expects oil prices to remain high but not enough to slow down China’s oil demand...

(EnergyAsia, October 8, Wednesday) — Chinese oil companies led by CNPC are expected to continue their expansion overseas through acquisition, said CNPC’s consulting arm in its report, Petroleum Industry Overview, 2007-2008. Last year, the equity crude of Chinese companies reached a record 60.32 million tons.  With 69 joint projects in 26 countries, CNPC is leading...

(EnergyAsia, October 8, Wednesday) — The Chinese government wants to reduce energy consumption growth in the next few years to offset a possible supply crisis and reduce the environmental impact of runaway economic growth. Its policy thrust now advocates energy conservation, diversification, and delaying or halting energy-intensive projects, according to CNPC’s Petroleum Industry Overview, 2007-2008....

(EnergyAsia, October 8, Wednesday) — China Wind Systems, a supplier of forged rolled rings to the wind power and other industries, said it has signed a letter of intent to supply shafts and gear rims for use in 1.5MW gearboxes to the Hangzhou Advance Gearbox Group, a gearbox manufacturer in China. China Wind Systems said...

(EnergyAsia, October 8, Wednesday) — China said its energy intensity — the amount of energy needed to produce one unit of GDP — fell by 2.88% year-on-year in the first half of 2008, but this was too slow to help the environment or enhance energy security. The Chinese government has targeted to reduce the nation’s...

the start-up of one of its liquefied natural gas (LNG) projects to the third quarter of 2009. The 7.8-million-tonne per year Qatargas 2 terminal was previously slated to start up early next year. Labour and equipment supply issues also hampered the start-up of Qatargas 1. That facility was due to begin operations in 2007 but...

LNG processing train (Train 5) in the world to be designed and constructed in modular form is now fully operational and producing cargoes for export. The first LNG cargoes was produced ahead of Woodside’s target. The processing train was delivered by the Foster Wheeler-led joint venture at Karratha, Western Australia for Woodside Energy Ltd as ...

combination of an economic slowdown, rising energy efficiency and pressure to improve its environmental record. China’s energy consumption and energy intensity have both been rising rapidly over the past decade as the country started from a low base of economic activity. Energy intensity is defined as the number of units of energy needed to produce...

million tons between 2006 and 2020, according to a recent study by the Chinese Academy of Social Sciences. China consumed 346.6 million tons of oil in 2006 and is expected to use up 407 million tons in 2010, said the government think tank. It forecast that oil demand growth to average of 4.5% per year...

increase of 6.4% over 2006, according to CNPC’s Petroleum Industry Overview, 2007-2008.   China’s three main oil companies, CNPC, Sinopec and CNOOC, are beefing up their refining capacity as they prepare for long-term competition in the domestic oil products market. PetroChina aims to have 160 million tonnes of annual crude processing capacity of 2010. If...

tons, compared with 36.39 million tons in 2006, according to CNPC’s Petroleum Industry Overview, 2007-2008. Crude imports totalled 163 million tons, up 12.4% year-on-year, indicating that refiners were helping to meet some of the country’s demand. China’s economy grew by 11.4% in 2007, its fastest rate in 13 years. The apparent consumption of crude oil,...

new study that the emerging global “green economy” could help create millions of new “green jobs” in the coming decades. The report entitled Green Jobs: Towards Decent work in a Sustainable, Low-Carbon World, said changing patterns of employment and investment resulting from efforts to reduce climate change and its effects are already generating new jobs...

conflict with Georgia, the small former Soviet republic that has become a key transport hub for oil and gas shipments. The short war and ongoing tension in the region seem to have put in doubt plans for new Trans-Caspian pipelines to ship oil and gas from Central Asia to Europe. The logical alternative market for...

supply of 3.3 million tonnes per year of liquefied natural gas (LNG). According to local media, the parties signed a master sales and purchase agreement for supplies from Oman’s Qalhat LNG export terminal but did not disclose pricing or other details. Oman reportedly has a total LNG capacity of 10 million tonnes per year. The...