(EnergyAsia, March 5, Wednesday) — Hoku Materials has agreed to supply polysilicon to Japan’s SANYO Electric Co Ltd for 10 years, up from seven years under the previous contract.Sanyo will pay Hoku Materials up to $530 million under the amended 10-year contract, up from approximately $371 million for the seven-year contract.Hoku Materials and SANYO also...
(EnergyAsia, March 5, Wednesday) — Australia’s AGL Energy Limited (AGL) has released half-yearly financial results consistent with its revised full year earnings guidance of underlying net profit after tax (NPAT) of A$330 million to A$360 million. (US$1=A$1.05).NPAT for the half-year was A$182.8 million compared with A$195.6 million for the previous corresponding period. The decrease was...
wafer supply contracts with four suppliers, including China’s Jiangsu Shunda Group Corporation. Starting January 2008, these suppliers will deliver approximately 12 MW of wafers to CSI before the summer of 2008, including 4MW from Shunda. In addition, CSI said it has signed a multi-year supply contract with Shunda, which gives CSI the option of two...
signed an agreement with The Benham Companies LLC to support commercialisation of CCTI’s coal cleaning plants in China. Benham is a wholly-owned subsidiary of Science Applications International Corporation (SAIC). SAIC has supported Clean Coal Technologies and its predecessor companies since 1996 in the advancement of CCTI’s proprietary technology to pre-process coal for removal of up...
million tonnes of liquefied natural gas (LNG) from Qatar by 2011, with an option to raise volumes to two million tonnes. The Thai company is expected to start up a $700 million LNG terminal at Map Tha Put in Rayong province that year. It is also talking to other LNG suppliers. Qatar, the world’s largest...
than tripled its 2007 net profit to a record S$12.2 million on revenue of S$87.3 million. (US$1=S$1.4). This was achieved on the back of strong contributions from the petrochemical and chemicals markets, and improvement in sales in key markets, including China, Middle East, Asia, Europe and US. Advanced said its earnings per share (EPS) soared...
2007 declined 3% to A$200 million compared with the prior corresponding period. (US$1=A$1.05). Gross profit was A$335 million, up 44% over the prior half year, while gross statutory earnings per share rose 32% to A$0.383. The gross profit contains significant items including profit from the sale of businesses and assets, changes in the fair value...
energy company TRUenergy have signed a A$290 million agreement to build what they claim will be the world’s largest and most efficient solar photovoltaic power station in northern Victoria state. (US$1=A$1.05). TRUenergy said it has provided A$40 million to Solar Systems in return for a 20% ownership interest in the project, which kick offs construction...
Group Ltd has incorporated a new subsidiary, Guangzhao Biofuel Pte Ltd, in Cambodia with a registered capital of US$1 million. The new company will be involved in planting crops for the biofuels industry, processing biofuel feedstock, trading, and importaing and exporting agricultural products. Guangzhou Industrial Forest Biotechnology Group has remitted US$808,750 as paid-up capital for...
oil companies, Reliance Industries Ltd and Essar Oil Ltd, for the recent panic buying and shortages in the supply of liquefied petroleum gas (LPG). In a statement explaining the recent situation to Parliament, Minister of State for Petroleum and Natural Gas Dinsha Patel said the two companies reduced LPG production and supply in January, causing...
Guru Gobind Singh Refineries Limited (GGSRL) to provide technology, engineering and procurement services for a deep catalytic cracking (DCC) unit at a grassroots refinery project in India’s Punjab state. The contract’s value was not disclosed. “Shaw’s ability to incorporate DCC technology into the Punjab refinery project will facilitate the most cost-effective and commercially proven option...
climate change fund to help poor countries combat global warming. The fund will finance joint projects and programmes between Japan and developing countries to cut greenhouse gas emissions, improve energy efficiency and provide technical assistance to poorer nations in switching to alternative energy sources. First disbursements from the fund are expected for later this year....
sufficient liquefied natural gas (LNG) from 2010, mainly due to a drastic fall in supplies from Indonesia. The reduced LNG availability is expected to translate into higher domestic gas fees and increased electricity prices. Japan has around 100 power plants that use LNG as fuel. Indonesia supplies well over 22% of all LNG imported by...
profit for 2007 fell by about 7% to US$33.5 million from 2006’s US$36.2 million after deducting exceptional gains for both years. When exceptional gains were taken into consideration, CAO’s net profits fell from US$228.2 million in 2006 to US$168.3 million. Last year’s profit included a net divestment gain of US$134.8 million from the sale...
grow its international oil storage business with planned expansions of its tanks farms on Jurong Island and the UAE, and possibly a new terminal in Panama. Newly appointed chairman and CEO Michael Bandy said the company will “continue the growth momentum started by (founder) Bob Chandran”, who died in a helicopter accident in Indonesia...
signs of letting up as shown by last week’s massive liquefied natural gas (LNG) deal with Taiwan. While all attention has been on China’s buying power in recent years, Taiwan grabbed the headlines when its state oil and gas firm, CPC, has signed a 20-year contract to import between two and three million tons...
(EnergyAsia, February 29, Friday) — The US government is pushing ahead with its proposed target to achieve nine billion gallons of ethanol in its gasoline pool this year despite industry concerns about the availability of infrastructure and transport to get the fuels to the retail pump. Last year, the target was seven billion gallons. Some...
(EnergyAsia, February 29, Friday) — The world is heading for a major oil crisis within 10 years as oil producers are not investing to boost production capacities, said John Hess, the chief executive of US oil firm Hess Corp. Oil prices will spike sharply higher. “An oil crisis is coming, and sooner than most people...
(EnergyAsia, February 29, Friday) — Russia’s Gazprom, France’s Total and Norway’s StatoilHydro have agreed to jointly form Shtokman Development AG to develop the first phase of the Shtokman gasfield in the Barents Sea. The field is thought to hold 3.8 trillion cubic meters of gas and 37 million tons of gas condensates. Gazprom will lead...
(EnergyAsia, February 29, Friday) — Lanka IOC, the Sri-Lanka based affiliate of Indian Oil Corp (IOC), is planning to bulk up its bunker fuel business in the country. The company started bunkering operations in the eastern port of Trincomalee last year. When new pipelines are in place to connect its joint venture Ceylon Petroleum Storage...
(EnergyAsia, February 29, Friday) — Venezuela will not cut off its oil supplies to the US despite rising tensions between the two countries, Venezuelan President Hugo Chavez said. Venezuela had appeared ready to cut supplies to the US but pulled backed at the brink. Mr Chavez amended his threat by stating that a supply cut...
(EnergyAsia, February 29, Friday) — New Zealand’s Contact Energy said its earnings before net interest expense, income taxation, depreciation, amortisation and financial instruments (EBITDAF), edged up to NZ$281.9 million for the second half of 2007, compared with NZ$275.4 million for the same period in 2006. (US$1=NZ$1.3). After adjusting the reported profit of NZ$117.4 million for...
(EnergyAsia, February 29, Friday) — Rising energy prices, in particular for oil, are driving up global food costs and causing food shortages in many poor countries around the world. For the first time in decades, the shortages will be severe enough to cause famines in the regions that are not prepared to deal with the...
(EnergyAsia, February 29, Friday) — Supply disruptions in key coal producing parts of Australia, South Africa and China are adding to demand pressures and causing price spikes on the world markets. In South Africa, power shortages have crimped its industrial sector including its core mining, coal and metal industries. China has imposed curbs on coal...
(EnergyAsia, February 29, Friday) — Japan’s Mitsubishi Heavy Industries Ltd (MHI) said it has received an order from Shandong Nuclear Power Co Ltd to supply two packages of a steam turbine generator for use in the Haiyang Nuclear Power Plant to be built in Haiyang in China’s Shandong province. The STG packages, jointly proposed by...