(EnergyAsia, January 28, Monday) — Shell’s CEO Jeroen van der Veer appears to have endorsed the ‘peak oil’ view when he wrote that “easily accessible supplies of oil and gas probably will no longer keep up with demand” after 2015. In an article released during last week’s World Economic Forum in Davos, Switzerland last week...
(EnergyAsia, January 28, Monday) — Nasdaq-listed Fuel Tech Inc, a world leader in advanced engineering solutions for the optimisation of combustion systems in utility and industrial applications, said it has awarded its first FUEL CHEM® demonstration programme in China. The company said it will share with Itochu Hong Kong Ltd, a subsidiary of Japan’s Itochu...
(EnergyAsia, January 28, Monday) — Keppel Shipyard Limited, a wholly-owned subsidiary of Singapore’s Keppel Offshore & Marine Limited (Keppel O&M), said it has been awarded a S$145 million contract for the integration and completion of a new build “Bully” drillship. Keppel was awarded the contract by a company jointly owned by Frontier Drilling and Shell....
(EnergyAsia, January 28, Monday) — US commodities trader Fimat expects world oil prices to take a “pause” this year after the recent run-up to record levels. WTI oil futures have gone through a roller coaster, falling 12% in three weeks from an all-time nominal high of $100.09 on January 4 after surging 44% from August...
(EnergyAsia, January 28, Monday) — Australia’s Nexus Energy Limited said it has agreed to take over Anzon Australia Limited (AZA) and Anzon Energy Limited (AEL) to create a leader in the country’s upstream oil and gas sector. Nexus said it will acquire both AZA and AEL by way of separate, non-interdependent schemes of arrangement. Nexus...
(EnergyAsia, January 25, Friday) — Executives of Qatar’s privately owned Venessia Petroleum recently met three ministers from Malawi to discuss its proposed $150 million investment in an oil storage project and pipelines in the African country.Venessia general manager S. Gauhar Ali Zaidi said his management met Mohammed Sidik Mia, Minister of Irrigation and Water Development,...
(EnergyAsia, January 25, Friday) — Japan’s Kyocera Corp said it will begin the full-scale adoption of fuel-efficient hybrid vehicles to help reduce carbon emissions as company cars as part of a corporate initiative to prevent global warming.The policy will cover company cars used for general sales activities and movement between plants.Kyocera currently has 194 such...
(EnergyAsia, January 25, Friday) — Australia’s largest resources company BHP Billiton said its production of seven of 13 main commodities equalled or exceeded record levels production for the half year ended December 2007.The company said its newly commissioned petroleum projects contributed to a record performance. With production from these projects continuing to rise and future...
(EnergyAsia, January 25, Friday) — Dubai’s Al Ghurair Investment (AGI) said it is interested to buy a stake in Pakistan State Oil Company (PSO), which controls about 70% of the country’s retail fuels market. PSO owns and operates 3,400 fuel outlets in Pakistan.Company executives said AGI Group is interested to invest in Pakistan despite the...
(EnergyAsia, January 25, Friday) — US-based Shaw Group Inc said the nuclear division of the Shaw Power Group has opened a new office in Shanghai city to support the rapidly growing Chinese nuclear power marketplace. The office will accommodate the Shaw project management team already working on four AP1000 nuclear reactors at power plants in...
(EnergyAsia, January 25, Friday) — Despite growing public opposition to palm oil-based biodiesel in Europe, Neste Oil insists it will see through plans to build its proposed 800,000-tonne-per-year plant in Singapore. At a joint press conference with Singapore’s EDB, Neste executives stuck resolutely to the official line that the plant will have access to sustainably...
(EnergyAsia, January 24, Thursday) — French engineering firm Technip said it will set up a new flexible pipe manufacturing plant in the Malaysian state of Johor. The new company, Asiaflex Products, will operate on a 20-hectare plot in the Tanjung Langsat industrial complex with direct access to a deep water quay-side. Asiaflex Products will have...
million b/d to a record 87.1 million b/d in 2008. The oil cartel said world oil demand rose by 1.2 million b/d or 1.4% last year. While high oil prices might have a “moderate impact” on consumers in the developed world, OPEC said it probably failed to dampen consumption in developing countries like China, India...
to open a combined 3,000 new retail outlets this year. Indian Oil, Bharat Petroleum and Hindustan Petroleum are gearing up to meet the rising fuel demand of India’s growing motoring population. The move comes despites complaints by the companies that they are incurring huge losses of about Rs3 billion per day by selling gasoline, diesel,...
Corporation (IOC) and its partners to build a joint venture 300,000 b/d oil refinery project in Ceyhan port. IOC’s partners in the US$5 billion project, which could expand to include a petrochemical compex, are Turkey’s Calik Energy, Italy’s ENI and Kazakhstan’s oil and gas company KazMunaiGaz. With an aim to transforming Ceyhan into an international...
panels on the roofs of 30% of houses across the country by 2030. This would sharply increase the number of solar-powered households from about 400,000 now to 14 million over the next 22 years, raising power generation capacity 30-fold from 1.3 million kilowatts. Japan’s solar power generation capacity in households and businesses stood at around...
energy import costs to rise by more than 15% this year as a result of the rising cost for oil and other energy sources. The Ministry of Commerce, Industry and Energy has predicted the country’s energy import bill to climb to nearly US$105 billion, with oil products and liquefied natural gas the most costly items....
ownership interest in the proposed Keystone oil pipeline linking Hardisty in Alberta to the US Midwest markets. The US$5.2-billion project calls for existing pipeline networks in Canada to be converted from delivering natural gas to crude oil, as well as the construction of another 2,200 km of new pipelines and pump stations in the US....
(EnergyAsia, January 24, Thursday) — Singapore-listed Federal International (2000) Ltd said its subsidiary, Geo Link Nusantara Pte Ltd (GLN), has completed its first marine offshore pipeline installation project in Indonesia. GLN is a 65%-owned subsidiary of its Federal’s fully-owned subsidiary, Alton International (S) Pte Ltd. PT Geo Link Nusantara (PT GLN) with project management support...
Gas Company to acquire the rights to develop and construct the Berwyndale-to-Wallumbilla (BWP) gas pipeline in southeast Queensland state. The agreement is subject to the approvals of the state and local authorities. Queensland Gas Company (QGC) has an option to take a 50% share in the pipeline project. If it exercises its option, it will...
Prime Minister’s Department to undertake a feasibility study to build an oil refinery and a storage terminal at the Pulau Muara Besar industrial park. The complex has been designated an integrated oil refining and trading hub to serve Southeast Asia’s oil markets. The department’s Petroleum Unit acting director Abdul Rahman signed on behalf of the...
(EnergyAsia, January 23, Wednesday) — As many as 150 million people in the world’s major cities will need flood defences by 2070 – more than three times the 40 million people today – as a result of climate change and urban development, according to a new study covering more than 130 port cities.Nine of the...
(EnergyAsia, January 23, Wednesday) — India’s leading upstream company, Oil and Natural Gas Corp Ltd (ONGC), has revived plans for its 15-million-tonne-per-year refinery in Kakinada in Andhra Pradesh state.ONGC has commissioned a local bank, SBI Capital Markets, to release a study on the proposed Rs250 billion project by the end of January. (US$1 = Rs39.20).The...
(EnergyAsia, January 23, Wednesday) — China National Offshore Oil Corp (CNOOC) plans to take over a number of small oil refineries in Shandong province as it plans to boost the downstream and product supply segments of its business.CNOOC ranks as China’s third largest oil firm but mostly involved in exploration and production.The company has signed...
(EnergyAsia, January 23, Wednesday) — Indian state upstream company ONGC has blamed enforced subsidies for dragging down its October-December quarterly net profits by 6.4% to Rs43.67 billion. (US$1=Rs40). Indian oil companies sell their oil products to domestic consumers at a loss as the government has refused their requests to raise prices to align them with...