(EnergyAsia, June 4, Wednesday) — China Solar Power (Holdings) Ltd (CSP), a subsidiary of Tano China Capital Management Inc, said it has ventured into the thin film solar cell market in China by partnering with ULVAC Inc of Japan. Tano is a private equity investment management company focusing on Chinese companies and industries while ULVAC (more…)
(EnergyAsia, June 4, Wednesday) — US-based power company AES Corporation said it has completed the sale of its interest in the AES Ekibastuz power plant and Maikuben coal mine in Kazakhstan to Kazakhmys PLC for a total of $1.1 billion. AES said it will also receive up to $381 million over a three-year period to (more…)
(EnergyAsia, June 4, Wednesday) — The Australian government is spending heavily to set up an emissions trading system (ETS) within 18 months. Prime Minister Kevin Rudd, whose first act on gaining power last year was to ratify the Kyoto Protocol, has added another A$37 million to its A$2.8 billion climate change budget to set up...
(EnergyAsia, June 4, Wednesday) — Australian resources company Woodside Petroleum wants China to pay more for liquefied natural gas (LNG) supplies that they had signed for under a long-term contract in 2003. Then, crude oil was hovering around US$30 a barrel, and natural gas producers struggled to find customers. Chinese state-owned CNOOC agreed to peg...
(EnergyAsia, June 4, Wednesday) — The International Air Transport Association (IATA) said the industry is in crisis and will suffer “deep losses” this year on account of rising fuel cost. Meeting in Istanbul, the association announced it has revised its industry financial forecast for 2008 significantly downwards to a loss of US$2.3 billion. The forecast...
(EnergyAsia, June 4, Wednesday) — High oil prices will slow down world trade and sharply boost inflation, posing a major threat to price stability and overseas manufacturing, according to a new report by CIBC World Markets. Low cost producer in China will lose their main competitive edge while manufacturers in North America, especially the US,...
(EnergyAsia, June 4, Wednesday) — SunPower Corporation said it has completed the design and construction of a new 1.4-megawatt (MW) solar electric power plant project in Hampyeong, South Korea. SunPower worked with Korean energy company EnE System to complete the plant, which is owned by Hampyeong Solar Plus, and will generate 1.8 million kilowatt-hours per...
(EnergyAsia, June 4, Wednesday) — The World Bank said it has approved the financing of three projects to support China’s effort to improve the efficient use of energy and reduce polluting emissions from power plants in the country. The loans, totalling US$441 million and accounting for almost one third of World Bank lending planned for...
(EnergyAsia, June 4, Wednesay) — Australia’s Qantas Group has announced a range of cost saving measures including the cancellation of five per cent of available seat kilometres (ASKs) – the equivalent of grounding six aircraft – in response to continuing high fuel prices. CEO Geoff Dixon said Qantas’ fuel bill would increase by more than...
(EnergyAsia, June 4, Wednesday) — State-owned Abu Dhabi National Energy Company PJSC (TAQA) said it has signed a Memorandum of Understanding (MoU) with Spain’s Iberdrola SA, the world’s 4th largest electricity company and a renewable energy leader. The two companies will commit to explore joint investment and development opportunities in power generation, renewables and upstream...
(EnergyAsia, June 3, Tuesday) — French major Total announces said its wholly-owned subsidiary Total E&P Malaysia has signed a production sharing contract with national oil company Petronas. The contract covers Blocks PM303 and PM324, located around 100 km offshore Peninsular Malaysia in 50 to 80 metres of water depth. Total E&P Malaysia will hold a (more…)
(EnergyAsia, June 3, Tuesday) — New Zealand’s Austral Pacific Energy Ltd said it has sold off non-core assets in Papua New Guinea to focus on its New Zealand projects. It has agreed to off its interest in Petroleum Prospecting Licenses (PPLs) 235 and 261 to Foreland Oil Limited, a subsidiary company of Rift Oil...
(EnergyAsia, June 3, Tuesday) — This question came to mind as I sat through a background briefing on gas-to-liquid fuel at Shell Singapore’s office last month. Check out www.RenewablesReport.Blogspot.com. Liang Kok Siang, general manager for marketing at the Malaysia-based Shell MDS (M) Sdn Bhd, introduced the fuel to a small group of journalists. GTL...
(EnergyAsia, June 3, Tuesday) — Empire Energy Corporation International said the Tasmanian state government of Australia is “pleased” with the company’s recent progress in finalising plans to start drilling for oil and natural gas on its onshore Tasmanian Basin licence area by August. These plans, described in a May 6 analyst report published by...
(EnergyAsia, June 3, Monday) — Australia’s Linc Energy Ltd said it has signed a Memorandum of Understanding (MOU) with China’s Huadian Coal Industry Group, a company jointly owned by the China Huadian Corporation and the Huadian Power International Corporation Ltd. China Huadian Corporation is one of five companies in China that is permitted to...
(EnergyAsia, June 3, Tuesday) — Cathay Pacific Airways said the Civil Aviation Department of Hong Kong has granted its request to increase its passenger fuel surcharge from June 1. The Hong Kong-based airline said it raised the fuel surcharges for a two-month period to US$21.90 (HK$171) for short-haul services in South and NortheEast Asia and (more…)
(EnergyAsia, June 3, Tuesday) — Japan’s Kansai Electric Power Co said it expects to start up a power plant using wood pellets and coal in Maizuru, Kyoto Prefecture in mid-August. The 900,000-kilowatt plant in western Japan, will cut carbon dioxide emissions by 92,000 tons per year, equal to about two percent of the plant’s...
(EnergyAsia, June 3, Tuesday) — China’s Baoding Yingli said it is exploring the possibility of undertaking a green field project to manufacture polysilicon with 3,000 metric tons annual capacity in Baoding city. Yingli, through one of its affiliates, and several minority equity holders are considering financing the project themselves if it is deemed feasible....
(EnergyAsia, June 3, Tuesday) — The government of Australia’s Queensland state said it will provide $166,000 to help fund a project to develop biodiesel from algae. Queensland Premier Anna Bligh said the project was a partnership between James Cook University (JCU) and Australian company MBD Biodiesel Ltd. “Considering the current debate about agricultural land...
(EnergyAsia, June 3, Tuesday) — Abu Dhabi’s investment arm Mubadala Development Company said it is expanding into Southeast Asia’s oil and gas sector after completing the takeover of upstream company Pearl Energy from Aabar Petroleum last month. The transaction is part of Mubadala’s strategy to become an active operator in the international exploration, production...
(EnergyAsia, June 2, Monday) — The decline in Saudi crude production can now be added to the growing list of reasons to explain why oil prices have more than doubled since early last year. Saudi Aramco, the world’s largest state-owned oil company, said its crude output fell by a significant 4.3% to around 3.11...
(EnergyAsia, June 2, Monday) — EnergyAsia recently interviewed senior executives from Stolt-Nielsen, BDP Project Logistics, Siemens AG and Lanxess. Check out their filmed interviews on www.EnergyAsia.com. For use of these copyright interviews, please contact Admin@EnergyAsia.com. Stolt-Nielsen’s Asia Pacific managing director Andrew Pickering talks about the company’s major expansion of its chemical storage role on (more…)
(EnergyAsia, June 2, Monday) — India’s Tata Power is making a US$500 million investment into shipping to try control logistic costs and increase its flexibility in obtaining coal supply for its power plants. A Tata-controlled Singapore-based special purpose vehicle, TPC Energy Asia, is currently preparing to buy or charter nine ships to transport coal...
(EnergyAsia, June 2, Monday) — PetroChina Company Ltd said it has promoted executive director Zhou Jiping, 51, to president and vice-chairman. Jiang Jiemin, the former president, retains his post as chairman. Mr Zhou, an upstream veteran with 25 years of experience, has spearheaded the company’s overseas expansion. Zhao Zhengzhang, formerly general manager of PetroChina’s...
(EnergyAsia, June 2, Monday) — Goh Chye Boon has been named CEO of the Sino-Singapore Tianjin Eco-City (SSTEC), the joint venture company between Singapore and Chinese consortiums building a sustainable city in the industrial city of Tianjin. His appointment was announced by Keppel Corporation, the leader of the Singapore consortium. Mr Goh was the...