demand to grow by 800,000 b/d or 0.9% to 86.9 million b/d this year, and by 900,000 b/d or 1.1% to 87.8 million b/d in 2009. In its August forecast, the agency said demand growth is driven by developing countries, which will consume around 38.3 million in 2008 and 39.7 million b/d next year....
performance of Singapore’s container shipping firm NOL. Bunker fuel costs rose to a record close of US$764.5 per tonne FOB Singapore on July 15. Its second quarter net profit fell 19% year-on-year to US$76 million, the first decline in five quarters, on “deteriorating market conditions and significant cost pressures.” For the first half, however, it...
(EnergyAsia, September 1, Monday) — ‘Designing and Building Fuel Cells’ is a hands-on guide for the design, modeling, and construction of fuel cells that perform as well or better than some of the best fuel cells on the market today. Written by Colleen S. Spiegel, the book features complete information on stack design, the latest (more…)
(EnergyAsia, September 1, Monday) — Publisher McGraw Hill has released a book, ‘Fuel Cell Projects for the Evil Genius’, which teaches readers how to build practical, environmentally conscious projects using the three most popular and widely accessible fuel cells. Author Gavin Harper provides easy-to-follow plans that feature clear diagrams and schematics that would help readers (more…)
investment into thin-film photovoltaics, Masdar, the Abu Dhabi renewable energy company, has broken ground on its first photovoltaic production plant in Ichtershausen in Germany. The plant will use advanced production technologies to bring PV closer towards grid parity, and enhance a local economy with a rich history of manufacturing and technology. The US$230 million...
account for 2,200MW of installed electricity and supply up to 5% of Australia’s energy needs by 2020, said an industry association. (US$1=A$1.14). The Australian Geothermal Energy Association (AGEA) provided the finding in a report it commissioned from economic modelling firm McLennan Magasanik Associates (MMA) last month. In releasing the report at the 2008 Australian...
(EnergyAsia, August 29, Friday) — ‘Biofuels: Biotechnology, Chemistry, and Sustainable Development’ by David M. Mousdale. Focusing on those areas where technology meets the marketplace, the book discusses different types of biofuels, the science behind their production, the economics of their introduction to the marketplace, their environmental impacts and their implications for world agriculture. It also (more…)
(EnergyAsia, August 29, Friday) — The Oxford Princeton Programme will be holding a seminar, ‘Oil Blending – Petroleum products quality, management, control and adjustment’, in Perth, Australia from October 6 to 8. The seminar will introduce participants to fuel blending and other ways to change or adjust product quality. Reformulation of fuels by blending or (more…)
(EnergyAsia, August 29, Friday) — Swiber Holdings Limited, a Singapore-based services provider to the offshore oil and gas industry, has reported earnings of US$22.2million for the three months ended June 30, up 258.1% from a year ago. Revenue surged 391.1% to US$124.5 million from the continued flow of offshore construction projects. For the six months...
(EnergyAsia, August 29, Friday) — Singapore’s Keppel FELS Limited said it has delivered a jackup drilling rig to Maersk Contractors three days ahead of schedule. The ‘Maersk Resolute’ is the second in a series of four high efficiency jackups being built by Keppel FELS for Maersk Contractors. The rig has been contracted to Dong Energy...
(EnergyAsia, August 29, Friday) –– ASL Marine Holdings Ltd, a Singapore-listed integrated marine company, said its FY2008 net profit surged by 49.8% to a record S$60.3 million on the back of a 25.8% increase in revenue to S$400.4 million. (US$1=S$1.4). ASL Marine attributed its financial performance to revenue contributions from all three businesses segments of...
(EnergyAsia, August 29, Friday) — New Zealand’s Austral Pacific said it increased oil and gas sales for the second quarter, earning NZ$4,386,717. Production from the Cheal oil field reached 42,812 barrels, with 29,754 barrels as Austral’s share. The field is currently producing 400 barrels per day. The recently drilled A7 well has the potential to...
(EnergyAsia, August 29, Friday) — Zhaoheng Hydropower, a US-listed leader in small-to-medium sized hydropower generation in China, said its second quarter net profit rose by 108% to $2.2 million while its revenues surged by 30% to $3.34 million over the same period last year. It attributed the growth to an increase in both electricity tariff...
(EnergyAsia, August 29, Friday) — Houston, US-based Synthesis Energy Systems Inc (SES) said its 95%-owned joint venture project with Shandong Hai Hua Coal & Chemical Company Ltd (SHHCCC) has been granted government approvals for the Phase II expansion of its existing project in Zaozhuang City in China’s Shandong Province. The expansion will result in additional...
(EnergyAsia, August 29) — Vancouver, Canada-based Hanwei Energy Services Corp said it has entered into binding purchase and sale agreements for the acquisition of the 99% equity interest in China’s Daqing Deta Electric Co Ltd. The agreements will now be filed with the Chinese authorities to process the transfer of the 99% equity interest in...
(EnergyAsia, August 29, Friday) — Supported by Asian demand, Australian resources company BHP Billiton said it earned a record US$15.39 billion in net profit for the year ending June 30 2008. This is also a record in Australian corporate history. Revenue surged 25.3% to US$59.473 billion while basic earnings per share rose by a fifth...
(EnergyAsia, August 28, Thursday) — EnergyAsia recently filmed interviews with senior executives from IT company Raritan and specialty chemical company Lubrizol, as well as professors from Singapore’s Agency for Science Technology and Research (A*Star) and Canada’s University of Calgary. Recordings of these interviews can be found on www.EnergyAsia.com. Raritan, a provider of green IT infrastructure (more…)
(EnergyAsia, August 28, Thursday) — ‘Tanker Ownership, Chartering and Operations’, a course offered by the Oxford Princeton Programme, will be held in Singapore from October 8 to 10. The course, presented in association with maritime economics and business consulting firm Richardson Lawrie Associates, will cover the transportation of crude oil, petroleum products, chemicals and natural (more…)
its first half earnings by 34.5% to RMB53.62 billion. (US$1=RMB6.8). As it was not allowed to raise domestic fuel prices, its refining and marketing segment recorded an operational loss of RMB59.02 billion. The government continues has refused to let oil companies raise prices for fear it will spark inflation and cause social unrest. Despite...
of Science and Technology (MOST) recently signed an agreement to collaborate on biofuels research. The signing came during a meeting of over 200 scientists, industry leaders and government officials at the International Conference on Sorghum for Biofuel in Houston, Texas. Existing cooperation between the two countries on science and technology was originally signed in 1979....
question concerning energy matters has not been about production, but how much it needs to fuel its robust economy, says UK-based publishing, research and consultancy organisation Oxford Business Group (OBG). In “The Report: Dubai 2007”, the emirate’s leading foreign direct investment guide, OBG said that whereas in the 1980s the oil sector accounted for...
semiconductor manufacturers to become South Korea’s latest export champions. Thanks to high oil prices, the refiners exported a record 5.14 trillion worth of oil products last month, up nearly 155% from a year ago. Even more noteworthy was that oil products were Korea’s top export earner, beating out traditional sectors like ship building, petrochemicals and...
gasoline by RM0.08 and RM0.22 a litre from August 23 in an attempt to placate angry consumers reeling under the weight of rising living costs. Prime Minister Abdullah Ahmad Badawi said RON97 gasoline now costs RM2.55 a litre (down RM0.15 sen) while the price of RON92 fell by RM0.22 to RM2.40 a litre. Diesel now...
Economist of Canada’s equity firm ARC Financial Corporation Peter Tertzakian, examines the future of oil and offer insights into what it will take to rebalance the world’s energy needs. The author provides a unique analysis of shifts in energy trends, describing how past critical junctures or ‘break points’ developed, evolved, and shaped nations, changed consumer...
storage and logistics responsibility in Ho Chi Minh City. The Vietnam Oil Corporation (PV Oil), formed from the merger between PetroVietnam Trading Corporation (Petechim) and the Oil Trading and Processing One Member Company Ltd (PDC), will also be involved in trading, providing equipment and services to the oil and gas industry. With more than 30...