(EnergyAsia, February 27, Friday) — Japan’s Mitsubishi Heavy Industries Ltd (MHI) said it has received a full-turnkey order for a 750 MW natural gas-fired gas turbine combined-cycle (GTCC) power plant from PT PLN, Indonesia’s state-owned electricity company. PLN is planning to build a new GTCC power plant on the premises of the existing Tanjung Priok...

(EnergyAsia, February 27, Friday) — Puda Coal Inc, a US-listed supplier of high grade metallurgical coking coal used in steel manufacturing, said it has signed a letter of intent with a local county government in China’s Shanxi province to consolidate the county’s six coal mines and build a coal power plant. The county will apply...

(EnergyAsia, February 27, Friday) — China will soon begin building eight new strategic oil stockpile sites around the country as it races to complete filling up 16 million cubic metres or 100 million barrels of capacity at all four of its first phase sites. China’s rush to expand its oil stockpiles has helped world oil...

(EnergyAsia, February 27, Friday) — Singapore-listed commodities trader Noble Group has expressed “serious concerns” over Gloucester Coal’s planned A$900-million merger with fellow Australian coal miner Whitehaven Coal. (US$1=A$1.55). Despite being Gloucester’s largest shareholder with a 21.7% stake, Hong Kong-based Noble said it was not informed or consulted by Gloucester’s board of Directors prior to the...

(EnergyAsia, February 26, Thursday) — Russia’s cash-strapped government is considering abolishing export duties for crude oil sales to Asia. Energy minister Sergei Shmat has submitted a proposal calling for the scrapping of the duties as Russia prepares to step up trade ties with Asia’s top three energy consumers, China, Japan and South Korea. In recent weeks, Russia...

(EnergyAsia, February 26, Thursday) — The Indonesian government has announced plans to expand the country’s oil refining capacity by 400,000 b/d to reduce its growing dependence on oil product imports.President Bambang Susilo Yudhoyono said state oil and gas firm Pertamina will be given support to build two new plants and expand the capacity of an...

(EnergyAsia, February 26, Thursday) — Singapore-based Allgreen Energy has announced plans to invest about Rs5 billion to build 10 biomass power plants in India. (US$1=Rs50).It said it will begin building three of the plants in Karnataka, Tamil Nadu and Madhya Pradesh state next month. Each plant will have the capacity to produce 6.5 megawatt (MW).The...

(EnergyAsia, February 26, Thursday) — US-based China Hydroelectric is planning to launch an initial public offering (IPO) in Hong Kong to raise up to US$200 million, according to Chinese media reports. The reports said the company has hired Deutsche Bank and Merrill Lynch to oversee the fundraising effort in the face of difficult conditions in the...

 (EnergyAsia, February 26, Thursday) — State-owned Development Bank of the Philippines (DBP) said it has signed a memorandum of understanding (MOU) with Constellation Energy Corporation, Foundation Markets and Enerasia Renewable Corporation to explore possible joint undertakings in the development of viable new and renewable energy (NRE) projects in the country.DBP president and CEO Reynaldo G....

(EnergyAsia, February 26, Thursday) — Continued investment spending by Middle Eastern oil exporters is cushioning the impact of the global financial crisis on the entire region, said the International Monetary Fund (IMF).Speaking in Dubai recently, IMF Middle East and Central Asia Department Director Masood Ahmed said the economies of the Middle East, North Africa, Afghanistan...

(EnergyAsia, February 26, Thursday) —- Engineering giant Foster Wheeler AG said that its Milan-based subsidiary, Foster Wheeler Italiana SpA, has been awarded a contract for the front-end engineering design (FEED) and technical services for a new gasification island, based on Shell technology, in South Korea. The contract was awarded by Doosan Heavy Industries & Construction...

(EnergyAsia, February 26, Thursday) — Australia’s science and technology agency CSIRO has launched a trial as a member of the Victorian Organic Solar Cell Consortium (VICOSC) to develop flexible, large area and cost-effective printable plastic solar cells.The three year A$12 million VICOSC solar cell project is 50% funded by the Victoria state government through an...

(EnergyAsia, February 26, Thursday) — US major Chevron Corp said its seven-well exploration and appraisal programme for the Wheatstone and Iago fields in northwest Australia has proved that they hold enough natural gas reserves to support a two-train Wheatstone liquefied natural gas (LNG) and domestic gas project.In late 2008, Chevron had announced plans to locate...

(EnergyAsia, February 26, Thursday) — Downstream company Caltex Australia Ltd said plunging oil prices and production sank its 2008 net profit fell by 95% to A$34 million from A$646 million in 2007. (US$1=A$1.55). The unplanned shutdown of its two refineries knocked 10% off its production of gasoline, diesel and jet fuel. World oil prices plunged...

(EnergyAsia, February 25, Wednesday) — Russia’s Sakhalin Energy aims to produce six million tonnes of liquefied natural gas (LNG) from its new export terminal on the Russian Far East island in this year. According to the Russian energy ministry, the terminal, which starts up next month with a first export cargo, would operate at around...

(EnergyAsia, February 25, Wednesday) — Shell Guam, a unit of the Anglo Dutch major, said it is selling its four-million-barrel oil storage terminal in Agat to Tristar Terminals Guam Inc. The sale is expected to be completed in a few months, subject to administrative and permit requirements. While citing Guam’s “good long-term prospects”, Shell said...

(EnergyAsia, February 25, Wednesday) — World oil output could fall by as much as 30 million b/d by 2015, analysts at Merrill Lynch said. In a special report, the world will have to deal with sharply lower oil supplies as a result of declining production rates, the rapid depletion of older fields, low investment levels...

(EnergyAsia, February 25, Wednesday) — OPEC member countries have delayed developing at least 35 projects to raise oil production in response to current weak market conditions. The cartel’s secretary general Abdullah al-Badri said the recent sharp plunge in oil prices, weakening demand and the global credit crisis have dampened members’ interest in expanding capacity. Oil...

(EnergyAsia, February 25, Wednesday) — State energy firm Korea National Oil Corp (KNOC) expects to land a contract for a massive oil project in Iraq. The company said it would work alone on the eight oil blocks in Iraq’s northern Kurdish region after failing to after efforts at forming a consortium with other Korean companies...

(EnergyAsia, February 25, Wednesday) — Singapore-listed Federal International (2000) Ltd last week announced that it had won a US$64.4 million contract with First Calgary Petroleums Ltd–Sonatrach Spa (FCP-Sonatrach) for a 428-km line pipe for the development of the Menzel Ledjmet East oil and gas field in Algeria. Federal, a service and procurement specialist provider for...

(EnergyAsia, February 25, Wednesday) — Three Japanese firms, Mitsubishi Heavy Industries Ltd (MHI), Mitsubishi Materials Corp (MMC) and Mitsubishi Corp (MC), and France’s Areva have signed an agreement to jointly establish a new company to provide nuclear fuel fabrication services. The yet-to-be-named company will provide nuclear fuel fabrication services, development, design, manufacturing and sales services....

(EnergyAsia, February 25, Wednesday) — Suntech Power Holdings Co Ltd, a world leading manufacturer of photovoltaic (PV) cells and modules, said it recently paid $8.1 million for a minority stake in Asia Silicon Co Ltd. Earlier, Suntech has entered into an agreement to purchase high purity polysilicon from Asia Silicon for up to $1.5 billion...

(EnergyAsia, February 25, Wednesday) — China’s patient pursuit of a long-term oil supply deal with Russia has paid off as cash-strapped Moscow agreed last week to provide 300,000 b/d for 20 years in exchange for an urgent $25-billion loan. The deal, the largest energy transaction between the two countries, was hailed as a major breakthrough...

(EnergyAsia, February 24, Tuesday) — Thailand’s state energy firm Thai Oil said it has shelved plans to upgrade its oil refinery due to the impact of the global economic slowdown. The company faces difficulty raising capital for its proposed US$2 billion upgrade, and has no guarantee the investment will pay off in view of reduced...