(EnergyAsia, July 28, Monday)— August Energy Pte Ltd will be holding a workshop on ‘Bunkering: Principles, Management & Operations’ at the Bestway Building, off Shenton Way, in Singapore from September 2 to 3. Bunker fuel prices are probably the largest cost components for the shipping industry today. The cost of bunker fuel recently climbed to (more…)
hedge purchase and gas supply agreement with the Braemar 2 Partnership that will support the supply of electricity products to its customers in Queensland state. Braemer 2 is equally owned by ERM Power and Arrow Energy. The final agreements with the partnership support the financial close and development of a second 450 MW open...
Guangdong province is lobbying China’s central government to build a new crude oil storage terminal in the oil-petrochemical city of Huizhou. The provincial government is also interested to establish its own oil products stockpile in Shenzhen near Hong Kong. The 1.3-billion-yuan terminal could store up to 800,000 tons of products. Construction of the 6-billion-yuan...
separate one-year leasing contracts with two leading oil trading companies for the entire 240,000 dwt storage capacity of Titan Chios, one of its floating storage units located at the Malaysian port of Tanjung Pelepas in Johor, near Singapore. Traders actively use floating storage in Singapore and Malaysia to support their spot trading and blending of...
diminishing hydrocarbon reserves could hurt the long-term programmes and profitability of Malaysian state energy company Petronas, said stock analyst Aseambankers. For the last financial year to March 31 2008, Petronas was able to replace only half its hydrocarbon reserves, due largely to the rapid depletion of international fields. Its reinvestment profit ratio of 29% remains...
consumers in general are sharply reducing fuel consumption in response to the recent record breaking rise in oil prices. But this has been put into doubt by Antoine Half, an analyst with US-based NewEdge Commodities, who said the size of oil demand destruction in the US could well be exaggerated. Calling it a mirage,...
(EnergyAsia, July 25, Friday) — Nasdaq-listed A-Power Energy Generation Systems Ltd said it has signed a memorandum of understanding with the Bayan Nur city government in western Inner Mongolia Autonomous Region to build a 800-MW a year wind turbine production facility. The company will produce its 2.5MW and 750kW wind turbines at this facility. Based...
(EnergyAsia, July 25, Friday) — South Korea’s largest refiner, SK Energy, said it has completed the construction of its third lubricant base oil (LBO) plant. Located in Dumai, Indonesia, the 7,500 b/d plant will produce Group III base oil – the raw material for making lubricants. SK Energy currently produces a total of 21,000 b/d...
(EnergyAsia, July 25, Friday) — Japanese companies said they may have to pull out of Indonesia if the country fails to address its worsening power supply shortages. Power cuts have caused businesses to suffer large financial losses. Some 400 Japanese companies have warned that they may relocate to other Asian countries if the crisis is...
(EnergyAsia, July 25, Friday) — Japan’s Showa Shell Sekiyu plans to build a 100-billion-yen solar cell plant by 2011. (US$1=105 yen). The plant’s capacity will likely reach 1,000 megawatts (MW) per year, making it one of the largest in the world. Its location has yet to be announced. It will focus on making so-called copper...
(EnergyAsia, July 25, Friday) — LG Solar Energy has started up a 14-megawatt (MW) solar power plant, making it South Korea’s largest such facility to date. The 110-million won plant in Taen city in the western region of South Chungcheong province has the capacity to supply 8,000 households (US$1=1,000 won). South Korea’s government provides incentives...
(EnergyAsia, July 25, Friday) — Prevented by the government from raising domestic fuel prices, China’s refineries reported a 47.9% surge in losses for the first half of 2008 compared with the same period last year. China Petroleum and Chemical Industry Association (CPCIA) said the refineries controlled by the two local majors, China National Petroleum...
(EnergyAsia, July 25, Friday) — Bergamo Acquisition Corp (BGMO), a US-based wholesale and retail clothing company said it has set up an energy subsidiary to investigate the possibility of investing in a solar energy facility in Pakistan. BGMO said Bergamo Energy has been designated by the Pakistani government to build and maintain a 500 megawatt...
(EnergyAsia, July 25, Friday) — Economic growth in emerging East Asia will moderate to 7.6% in 2008 and 2009 from 9.0% in 2007 as the region weathers a global economic slowdown, sharp rise in food and energy prices and volatility reigns in financial markets, says a new report by the Asian Development Bank (ADB). The (more…)
(EnergyAsia, July 25, Friday) — ‘National Power Australia’ will be held in Sydney, Australia from September 1 to 3. With a national emissions trading scheme due to start up by 2010, and a mandatory renewable energy target of 20% by 2020, energy companies will have to re-evaluate their business models and formulate new strategies to (more…)
(EnergyAsia, July 25, Friday) — The ‘Biodiesel Success & Alternative Feedstock’ workshop will be held at the Traders Hotel in Singapore from August 25 to 26. With rising fuel and food prices, biodiesel, especially those produced from non-food sources, represent a potential new market for sustainable energy and chemical development. Companies and governments will have (more…)
company John Wood Group PLC, said it will be providing a conceptual study for developing offshore facilities for the Greater Sunrise Gas Development in the Timor Sea north of Australia. Mustang’s Perth office will be performing the work, which includes the development of the Sunrise and Troubadour fields, located about 450 km north of Darwin...
the Singapore Mercantile Exchange, the country’s newest commodities exchange. SMX will facilitate commodities trading in the Asian time zone. The new exchange will provide a platform for futures and options trading on precious metals, base metals, energy, agricultural commodities, currency pairs, carbon credits and commodity indices. SMX will offer a state-of-the art electronic trading platform...
coming years, a government report has warned. The report, by federal government advisor Professor Ross Garnaut, said prices will be driven by rising demand for gas-fired power which is in great demand because of their lower emissions, compared with coal-fired units. Another factor driving up domestic gas prices are Australia’s plans to increase exports of...
that its deliveries to the US fell to a five-year low in the first four month of 2008, compared with the same period last year. State oil and gas company PDVSA aims to boost its oil shipments to China to 500,000 b/d by 2010 compared with about 250,000 b/d today. In contrast, the US imported...
Negara (PLN) has implemented rotating blackouts for Jakarta and Tangerang since the start of the month to prevent a complete collapse of power supply in some key cities. The company said it is undertaking maintenance work at a number of plants on the Java-Bali power supply system. The blackouts are expected to last through...
the offshore industry, has landed its first contract in Vietnam’s booming offshore oil and gas industry. It said that subsidiary Swiber Offshore Construction Pte Ltd has been awarded a substantial letter of intent by the state-owned company, Vietsovpetro (VSP) to transport and install offshore facilities for one of its offshore oil and gas customers. The...
the contractor for the proposed Queensland Curtis liquefied natural gas (LNG) project near Gladstone in Australia. The contract was awarded by an alliance between Australia’s Queensland Gas Company Limited (QGC) and UK’s BG Group which is jointly developing coal seam gas from the Surat Basin in Queensland state. Bechtel Oil, Gas and Chemicals Inc will...
month cost-plus order to supply one of the world’s leading oil trading companies with 60,000 to 84,000 tonnes of biodiesel starting January 2009. Mission did not name the company. In June, it said it sold and shipped approximately 4,500 tonnes using its export pipeline for the first time. Loading proceeded smoothly and product quality, as...
Foundation Partner of the country’s ‘Together’ campaign to help society reduce its carbon footprint. After a successful start in the UK and US, the Australian ‘Together’ campaign is designed to provide consumers with access to information and products which will help them to reduce their carbon footprint easily and affordably. Acting Prime Minister Julia Gillard...