(EnergyAsia, March 31, Tuesday) — The ‘6th Biennial International Chemical and Oil Pollution Conference and Exhibition’ (ICOPCE 2009)’ will be held at the Raffles City Convention Centre in Singapore from April 21 to 24. Organised by the Maritime and Port Authority of Singapore (MPA), ICOPCE 2009 is the only conference dedicated to the prevention and (more…)
(EnergyAsia, March 30, Monday) — World oil demand is expected to fall by 1.5% or 1.2 million b/d to 84.4 million b/d this year on account of a possible shrinkage in the world GDP, said the International Energy Agency (IEA).The Paris-based energy watchdog for consuming countries said its latest forecast is based on a reassessment...
(EnergyAsia, March 30, Monday) — An international conference on technology revolution in the marine and offshore industry, ‘Shiptek 2009’, will be held at the Singapore Expo Convention and Exhibition Centre on May 6 and 7.The event will include a maritime exhibition, Shiptek Expo 2009, which will provide participants with opportunities to network with top-level executives (more…)
SOUTH KOREA: ‘Asia Bottom of the Barrel Technology Conference’ to be held in Seoul on May 14 and 15 (EnergyAsia, March 30, Monday) — The ‘3rd Asia Bottom of the Barrel Technology Conference’ will be held at The Ramada Hotel in Seoul, South Korea on May 14 and 15. Organised by Euro Petroleum Consultants, the (more…)
(EnergyAsia, March 30, Monday) — Another consultant has warned that sustained weakness in oil prices could set the stage for sharply reduced supplies and a future price shock in the future.Cambridge Energy Research Associates (CERA), known previously for its sanguine outlook on the oil markets, has joined the bandwagon of worriers with its new report,...
(EnergyAsia, March 30, Monday) — OPEC has sharply lowered its forecast for 2009 world oil demand growth to minus one million b/d compared with the previous forecast for a contraction of 400,000 b/d. It has also reduced its estimate for 2008’s oil demand growth by 100,000 b/d to minus 300,000 b/d.The oil-exporting cartel said the latest...
(EnergyAsia, March 30, Monday) — Oil prices could shoot up sharply again between next year and 2013 as oil consumption by developing countries resumes growing on the back of an economic recovery, said a study by MGI and McKinsey’s Global Energy and Materials Practice. In the short-term, the study predicts world energy demand growth to stagnate...
(EnergyAsia, March 30, Monday) — ‘Coaltrans China’, said to be the leading conference for the world’s largest coal industry, will be held at the Sofitel Wanda Hotel in Beijing, China on April 20 and 21.Speakers will analyse the uncertainties and opportunities in China’s coal industry, development strategies, regulations and policies for coal and coal-to-chemicals markets, (more…)
(Energy, March 30, Monday) — Sinopec Group said it has started up operations at its new 950,000-cubic metre crude oil storage terminal in Shanghai.The start-up of the new terminal coincides with the completion of the second phase of the 600,000-cubic metre Baishawan storage base....
(EnergyAsia, March 27, Friday) — The ‘Wind Energy Handbook’ draws on the collective industrial and academic experience of several experts to highlight the interdisciplinary nature of wind energy research and provide a comprehensive overview of wind energy for electricity generation. As environmental concerns focus attention on the generation of electricity from clean and renewable sources, (more…)
(EnergyAsia, March 27, Friday) — Indonesian government officials have expressed concern that some of its key customers could reduce their imports of liquefied natural gas (LNG) amid the global economic crisis. The economies of Japan, South Korea and Taiwan have been battered in the wake of the global economic crisis. Lower LNG export revenues would...
(EnergyAsia, March 27, Friday) — China is looking to develop offshore oil storage facilities after having filled up all four of its newly completed strategic petroleum reserves (SPR) terminals. Industry officials said the government raced to fill up the terminals’ 100-million-barrel capacity in recent months to take advantage of low oil prices. They said China...
(EnergyAsia, March 27, Friday) — Tony Tan, the former head of exploration and production at Singapore Petroleum Co, has been appointed CEO of Orchard Energy. The new subsidiary of Singapore’s sovereign wealth fund Temasek Holdings was established last year to undertake offshore oil and gas exploration. Earlier, Temasek’s chairman S. Dhanabalan told EnergyAsia that Orchard...
(EnergyAsia, March 27, Friday) — World natural gas demand is expected to remain weak through 2009 and possibly into 2010 on account of the global financial crisis, said ExxonMobil CEO Rex Tillerson. Despite the current weakness, long-term energy demand was expected to increase 35% by 2030 from today’s levels, he said. Analysts said that huge...
(EnergyAsia, March 27, Friday) — PetroChina, the listed arm of China National Petroleum Corp (CNPC), plans to expand its refining and storage complex in Qinzhou in the southern Guangxi Zhuang autonomous region. After completion, Qinzhou’s refining capacity would double to 20 million tonnes per year, while its terminals will store up to three million tonnes...
(EnergyAsia, March 27, Friday) — The Chinese government is encouraging its trading partners in Africa and Asia to settle their trades in its currency, the yuan, instead of using the US dollar or the euro. Beijing is also looking to start giving out aid, loans and grants in yuan rather than the dollar. Officials expect...
(EnergyAsia, March 27, Friday) — PetroChina, the world’s second largest company after ExxonMobil, said refining losses caused most of the 22% drop in its full-year profit for 2008. Sales rose 28% to 1.1 trillion yuan. (US$1=6.85 yuan). Reporting its first loss since 2001, China’s second largest refiner said net income slumped to 114 billion yuan,...
(EnergyAsia, March 25, Wednesday) — The ‘10th China Oil Traders’ Conference (COTC)’ will be held in Sanya city in China’s Hainan province from April 8 to 10.The conference aims to address issues concerning the financial crisis and the impact of crude oil price fluctuations. Topics covered include China’s oil policy, oil prices and world trends, (more…)
(EnergyAsia, March 26, Thursday) — ‘Profiting from Clean Energy’, a book by professional investment analyst and advisor Richard W. Asplund, discusses ways to invest in clean energy.It provides an in-depth explanation of the technology and industry structures, and identifies more than 150 stocks in the clean energy sector. Topics covered in the book include investments (more…)
(EnergyAsia, March 26, Thursday) — Oil trader Trafigura is set to expand its Singapore operations as it ventures into the bunker fuels business and expands its biofuels trading activities.Mike Scott, the company’s Asia head of crude oil and crude derivatives, told reporters that it plans to start up bunker fuels trading next year following the...
(EnergyAsia, March 26, Thursday) — Amid the global financial crisis, Qatar’s sovereign wealth fund will focus its investments on food, energy, water and natural resources from this year.The US$60 billion fund is confident that commodities prices will begin to pick up in the second half of the year, making the natural resources a good investment.Other...
(EnergyAsia, March 26, Thursday) — Chinese port operator Qingdao Port Group Co plans to invest 3-billion-yuan this year to boost its commodity-handling capability.Located in the active north-eastern corner of the country, the port will focus on expanding its role in China’s trade in oil, iron ore, coal, grains and merchandise goods. The port authority expects...
(EnergyAsia, March 26, Thursday) — PetroChina and Venezuela have agreed to form a joint venture to build and operate a 400,000 b/d refinery in China’s Guangdong province.PetroChina will take a 51% stake while Venezuela will hold the remaining 49% in the proposed $8 billion refinery to be built at Yuedong. The plant will process heavy...
(EnergyAsia, March 26, Thursday) — The International Air Transport Association (IATA) said the world air transport industry faces record losses of US$4.7 billion in 2009, sharply worse than its December forecast for a US$2.5 billion loss.As a result of the deterioration in world economic conditions, IATA said industry revenues are expected to fall by 12%...
(EnergyAsia, March 26, Thursday) — Hong Kong-based power utility CLP Holdings said it will acquire a 50% equity interest in a wholly owned subsidiary of China WindPower Group for HK$101.3 million. (US$1=HK$7.75).The new joint venture, CLP-CWP Wind Power Investment, will own 49% of two wind projects under construction in Fuxin city in China’s Liaoning province....