to focus on its oil storage and shipyard business, and scale down its trading and supply activities. With crude oil at more than $140 a barrel and still rising, the company said the trading business is capital intensive and increasingly exposed to market risks and market volatility. The company said it “will consider suitable opportunities...
issued another gloomy prediction, with gasoline hitting US$7 per gallon as impoverished Americans withdraw 10 million vehicles off the roads by 2012. The report forecasts that continued growing global demand combined with ongoing supply challenges will see oil prices continue to rise and hit $200 per barrel in 2010. This will translate into further pain...
supply shortage that has idled the bulk of its public and private vehicles the past few weeks. Officials said that as much as 80% of Lahore’s urban transportation system and half its inter-city connections have shut down due to the scarcity of gasoline and diesel supplies. They warn that the province’s transportation system will completely...
for industrial and commercial customers by an average 26% effective 1 July. However, Tenaga said the increases were still not enough to fully recoup rising feedstock costs for fuel, gas and coal. In response to rising energy costs on the world markets, the government has sharply raised domestic gasoline, diesel, gas and power prices and...
year as the rising cost of jet fuel is making many routes commercially unviable. The company plans start to grounding its older, least fuel-efficient Boeing 747s, 767s and 737s aircraft. Jet fuel have soared well above US$170 a barrel and does not look like slowing down any time soon. With more analysts forecasting higher oil...
2005 and 2030, driven by robust economic growth and expanding populations in the world’s developing countries, said the US Energy Information Administration (EIA). In its latest International Energy Outlook 2008 report, the EIA said it based its prediction on 2007 oil prices, which are nearly double the 2003 prices in real terms. The report does...
Environmental Opportunities All-Share Index’, which is made up of over 450 constituents covering the alternative energy, water and waste management companies. The constituents are taken from the ‘FTSE Global Equity Index Series’ and are included in the index if a minimum of 20% of their revenue comes from environmental markets or technologies, which are of...
due to the damage to its hydropower dams caused by the massive earthquake last month in Sichuan province. Officals said the 8 magnitude earthquake, which killed more than 80,000 people, damaged dozens of dams and cut coal production. The timing could not be worse as China is already struggling to cope with massive power supply...
(EnergyAsia, June 27, Friday) — Australia has entered its biggest ever era of petroleum exploration as energy prices and demands for liquid natural gas escalate. “We are in a unique position to reap enormous rewards from our resources,” says APPEA CEO Belinda Robinson, who will chair the first day of SEAAOC, northern Australia’s largest and (more…)
(EnergyAsia, June 27, Friday) — ‘Indonesia Power Conference 2008’ will be held at the Hotel Mulia Senayan in Jakarta, Indonesia from August 27 to 28. The conference will feature a keynote address from Indonesia’s director general for electricity and energy utilisation in the Ministry of Energy and Mineral Resources. Indonesia has a large base of (more…)
(EnergyAsia, June 27, Friday) — ‘Fuel Oil and Bunker Trading’, an international oil supply and trading seminar, will be held in Singapore from July 24 to 25. The course aims to provide a clear understanding of the oil markets including oil refining economics and product quality, price structure, supply, trading and transportation fundamentals. Issues related (more…)
Petroleum and PetroChina Company have signed a letter of intent to undertake a joint feasibility study for a refining and petrochemical project in China. PetroChina will have a 51% shareholding, QPI 24.5% and Shell 24.5% in the project. The agreement was signed in Doha by Abdulla Bin Hamad Al Attiyah, Qatar’s Deputy Prime Minister, Jiang...
to acquire a Hong Kong corporation specialising in R&D and procurement. Technology currently exists for analysing cost and performance of solar systems, developing parabolic trough technology for solar electricity generation, and developing advanced technologies such as concentrating photovoltaics (solar panels). The Holy Grail for solar panel manufacturers is to engineer and commercially manufacture solar panels...
been selected to provide professional services and procurement of critical equipment for a major grassroots expansion of Hyundai Oilbank’s refinery complex in Daesan, South Korea. Shaw, along with consortium partner Hyundai Engineering Co Ltd, will provide front-end engineering design for the integration of 15 refinery process units, including a 52,000- barrel per day residue fluidised...
India has been awarded a 19 million euros contract to supply a 400/220 kV turnkey switchyard with transformers in Uttar Pradesh state. The contract, awarded by UP Rajya Vidyut Utpadam Nigam Ltd, will require AREVA to design, engineer, manufacture, erect and commission the switchyard for the Parichha thermal power project extension (2X250 MW) in Jhansi...
(EnergyAsia, June 26, Thursday) — ‘Petrochemicals in Nontechnical Language’ is an authoritative book that has been re-written and expanded to include extra chapters on methyl tertiary butyl ether and higher alcohols. Packed with diagrams and tables, the third edition of this book will provide a clear and comprehensive primer for anyone seeking to understand the (more…)
(EnergyAsia, June 26, Thursday) — ‘Oil Refineries in the 21st Century: Energy Efficient, Cost Effective, Environmentally Benign’ is a practical guide for engineers, managers and consultants involved in the refining industry. The book provides a detailed approach to the methodology, information and criteria necessary for analysing energy use, economics and the environmental impact of refineries (more…)
(EnergyAsia, June 26, Thursday) — ‘Renewables-Based Technology: Sustainability Assessment’, the first book in the ‘Wiley Renewable Resources’ series, covers a range of sustainability assessment methods and their uses. Sustainability is a key driving force for industries in the energy, chemical, food, packaging, agricultural and pharmaceutical sectors. These days, company reports incorporate quantitative sustainability indicators. This (more…)
Petrochemical Corporation (Sinopec) said they have signed a strategic cooperation agreement to expand their partnership at the Tianjin industrial complex in China that is currently under construction. The agreement, signed during the visit of Chinese Vice President Xi Jinping to Jeddah city, is designed to expand the heads of agreement (HOA) signed by the two...
expand its existing hydrogen, carbon monoxide and syngas (HyCO) facility on Jurong Island to supply Lucite International Singapore Pte Ltd with carbon monoxide for their new Alpha 1 project. Linde Gas is a subsidiary of The Linde Group leading gases and engineering company. In 2007, Linde Gas Singapore signed a long-term agreement to supply carbon...
to add 25,000 cubic metres of storage capacity to blend fuel oil for its own use and to serve its customers. The move will advance its plans to become an integrated energy player in Asia. To be completed in the last quarter of 2009, the tanks will expand the company’s fuel oil range and flexibility...
on how it can optimise the commercial and beneficial uses of water produced and treated at its coal seam gas (CSG) operations in south western Queensland state. The company said the water is processed on site at its A$20-million nine mega-litre water treatment facility near Roma, the first fully integrated CSG water treatment facility in...
updating the June 3 interruption of natural gas production off Varanus Island in Western Australia state. A pipeline rupture and fire on the production hub on the island led to the complete stoppage of production from both the East Spar Joint Venture (processing and exporting gas from the John Brookes field) and the Harriet Joint...
interests in essential energy infrastructure businesses, said it has acquired a 50% interest in China-based Luoyang Sunshine Cogeneration Co Ltd. Based in Henan province, Luoyang owns a regulated 270 MW cogeneration power plant, consisting of two 440 ton/hr CFB boilers and two 135MW condensing / extraction steam turbine generators. It is the sole provider of...
cost- effective hedge against fossil fuels and will likely reach cost parity with conventional energy sources in most regions of the US in less than a decade. The Utility Solar Assessment (USA) study, produced by clean-tech research and publishing firm Clean Edge and green-economy non-profit Co-op America, said that as solar prices decline and the...