(EnergyAsia, April 24, Thursday) — Using up to $100 million in seed capital, the Asian Development Bank (ADB) is helping to establish five private sector funds with a total target investment of up to $1.2 billion in clean energy projects in Asia. The MAP Clean Energy Fund, China Environment Fund III, GEF South Asia Clean...
(EnergyAsia, April 24, Thursday) — This is an edited version of Energy Market Authority chief Khoo Chin Hean’s speech given at last Friday’s announcement that UK’s BG Group has been appointed Singapore’s sole importer of liquefied natural gas (LNG) and aggregator of demand. BG Group’s role is to aggregate demand for regasified LNG from all (more…)
(EnergyAsia, April 21) — Venezuela is considering the feasibility of investing in a massive refining-petrochemicals complex in India. The oil feedstock for the project could come from a 200,000 b/d field in Venezuela’s Orinoco region in which India’s upstream company ONGC Videsh expects to take a stake. Venezuela has claimed that its Orinoco heavy oil...
(EnergyAsia, April 24, Thursday) — The shipping industry is worried that an attack on a Japanese VLCC reportedly by a rocket propelled grenade launched from a small boat off the coast of Aden in Yemen could pose a new and disturbing threat to the world’s oil supply lines. On April 21, the NYK company said...
(EnergyAsia, April 24, Thursday) — Hongkong-based CLP said it recently celebrated the phase 1 completion of its Fangchenggang (FCG) power station in China’s Guanxi province. It is the first large-scale infrastructure power project completed since the announcement of the state-approved Beibu Gulf Economic Zone Development Plan. Being one of the largest foreign invested power projects...
(EnergyAsia, April 23, Wednesday) — The European Federation of Energy Traders (EFET) and globalCOAL said they have launched the publication of the EFET Coal Credit Annex on their company websites. The annex provides pro-forma documentation for credit enhancement of physical coal transactions conducted under the SCoTA® – globalCOAL’s Standard Coal Trading Agreement. The annex is...
(EnergyAsia, April 23, Wednesday) — The International Energy Agency (IEA) said it expects 2008 world oil demand to grow by 1.3 million b/d or 1.5% over last year. Total demand will rise to 87.2 million b/d, about 310,000 b/d lower than forecast last month due to the prospect of slower economic growth. The IEA said...
(EnergyAsia, April 23, Wednesday) — The Asian Development Bank (ADB) said it has disbursed a $200 million loan to support the privatisation of the state-owned Masinloc coal-fired power plant in the Philippines – which will promote competition in the electricity market and improve environmental standards. Located about 250 km north of Manila, the Masinloc plant...
(EnergyAsia, April 23, Wednesday) — Australia is set to import up to 70% of its refined fuel requirements by 2030, raising the spectre of energy security risks, said the managing director of Caltex. According to Des King, rising import volumes would lead to the shutdown of at least two of Australia’s seven refineries. ...
(EnergyAsia, April 23, Wednesday) — China National Petroleum Corp (CNPC) plans to run its refineries at full capacity to meet market demand during the second quarter. At the same time, the oil major will put off maintenance and reduce inventories to boost supplies. During the first quarter, CNPC said it boosted products output by 6%,...
(EnergyAsia, April 23, Wednesday) — Singapore-listed Straits Asia Resources (SAR) Limited said it will be split into two companies to separately focus on the coal and metals businesses. The decision came after Australia-listed majority shareholder, Straits Resources Limited (SRL), conducted a strategic review of its group structure, and concluded the split would “unlock value” for...
(EnergyAsia, April 23, Wednesday) — Australia now has more than A$100 billion worth of oil and gas projects under development or in planning stages, said the Australian Petroleum Production & Exploration Association (APPEA). (US$1=A$1.08). Speaking at its recent upstream conference, APPEA chief executive Belinda Robinson said the size of the mooted investments meant a lot...
(EnergyAsia, April 23, Wednesday) — The Asian Development Bank (ADB) and India’s private sector are developing two wind power projects to increase the country’s access to cleaner energy sources. ADB is extending a rupee-denominated loan equivalent to $113 million to a wholly-owned Indian subsidiary of CLP Holdings of Hong Kong to fund development of two...
(EnergyAsia, April 23, Wednesday) — Engineering giant Foster Wheeler Ltd said its UK-headquartered subsidiary, Foster Wheeler Energy Limited, has been awarded a contract by the Bahrain National Gas Company (BSC) (BANAGAS) to carry out the pre-front-end engineering design (pre-FEED) for the revamp and expansion of its liquefied petroleum gas (LPG) facilities in Bahrain. The expansion (more…)
(EnergyAsia, April 23, Wednesday) — ‘Cogeneration Asia 2008’ will be held at the Plaza Athenee Bangkok Hotel in Thailand from June 26 to 27. Cogeneration offers end users one of the best possible solutions to deal with rising fuel prices, increasing amounts of greenhouse gases and threats of depleting energy sources. The benefits of combined (more…)
(EnergyAsia, April 22, Tuesday) — Singapore’s EOC Limited, a leading offshore construction and production contractors, said its wholly-owned subsidiary, Emas Offshore Construction and Production Pte Ltd (EOCP) has successfully executed the offshore installation contract to install sub-sea facilities and floating production mooring system in the Galoc field located 65 km north-west of Palawan Island in...
(EnergyAsia, April 22, Tuesday) — In a matter of weeks, a food crisis has exploded onto the world stage, dramatically overtaking the worsening credit crisis and energy shortages as the greatest threat to international political stability. The UN Food and Agricultural Organization (FAO) said at least 36 countries are now facing a food crisis, while...
(EnergyAsia, April 22, Tuesday) — Global PTM, a leading provider of intelligent asset management business solutions, said it has successfully delivered a complex enterprise asset management software solution for Singapore’s PowerSeraya Limited. Global PTM said implementation of the solution which includes IBM Maximo began on January 17 at PowerSeraya’s head office, making it one of...
(EnergyAsia, April 22, Tuesday) — The partners for a proposed six-million-tonne per year refinery in India’s Madhya Pradesh state plan to raise Rs29 billion through an initial public offering (IPO). (US$1=Rs39). Bharat Oman Refinery Ltd (BORL) is equally owned by Bharat Petroleum Corporation (BPCL) and Oman Oil Company. The partners plan to go ahead with...
(EnergyAsia, April 22, Tuesday) — Australia’s leading coal seam gas producer, Queensland Gas Company (QGC), said it has received A$664 million in a recent transaction to form a world-scale LNG alliance with UK-based BG Group. (US$1=A$1.08). QGC chairman Robert Bryan said he was delighted that the transaction was completed ahead of schedule and in recognition...
(EnergyAsia, April 22, Tuesday) — The book contains 30 articles that examine new supplies including unconventional sources of gas, hydrates and coal-bed methane, Nabucco and Nord Stream pipelines as well as LNG, LPG and gas-to-liquids. The book which includes world gas reserves and production statistics and a global gas map also analyses the likely demand (more…)
(EnergyAsia, April 22, Tuesday) — Singapore’s KS Energy Services Limited said it has landed a US$130 million contract for the charter of its jackup rig, KS Medstar-1, to the Belayim Petroleum Company (Petrobel) starting April 11. Petrobel, a joint venture between the Egyptian General Petroleum Corporation and Italy’s Agip/ENI, will charter the rig for three...
(EnergyAsia, April 22, Tuesday) — Qatar Fuel (WOQOD), in collaboration with the Lloyd’s Register Group, is expanding its reach in the bunker supply business. WOQOD recently completed a quality management bunker fuel supply chain project with a view to accredit the quality management system for the bunker supply chain after implementing and running the system...
(EnergyAsia, April 22, Tuesday) — Australia’s crude oil production fell 3% to 120 million barrels last year, while its liquefied natural gas (LNG) output rose 8% to 699.6 billion cubic feet (15.1 million tonnes) and natural gas production surged by 10% to887.7 billion cubic feet, said the Australian Petroleum Production & Exploration Association (APPEA). APPEA...