(EnergyAsia, April 1, Tuesday) — Asian energy consumers are in full panic mode as the prices of oil, gas and coal, which provide 85% of the world’s energy supply, hit record highs in the first quarter of 2008. While oil captured most of the headlines as it surged past US$100 a barrel for the first...
(EnergyAsia, March 31, Monday) — ‘Fundamentals of Energy Options’, a workshop offered by the Oxford Princeton Programme, will be held in London on April 8 and Singapore on April 15. This full-day workshop which includes a trading simulation and a comprehensive review of the course, will cover premium valuation to advanced trading strategies on exchange (more…)
(EnergyAsia, March 31, Monday) — ‘Coaltrans Brazil’ will be held at the Sofitel Hotel in Rio de Janeiro from May 12 to 13. The rapidly growing economies of India and China, as well as Brazil’s increasing domestic demand for steel, continues to drive the growth of steel production, said organisers CoalTrans Conferences. An additional 21.9 (more…)
(EnergyAsia, March 31, Monday) — International law firm Herbert Smith said it advised Credit Suisse and Morgan Stanley as joint global coordinators on the HK$3.2 billion Hong Kong IPO and Rule 144A / Regulation S global offering of Honghua Group. Honghua Group, the second-largest onshore oil rig manufacturer in the world and the largest in (more…)
Ltd, a wholly owned subsidiary of Japanese chemicals company, Ishihara Sangyo Kaisha, are building two 5-MW cogeneration facilities at ISK’s chemicals plant in Tuas in Singapore. As a promoter of distributed power, TPGS works closely with companies to develop, build and operate on-site combined heat and power (CHP) systems. Distributed generation refers to generating electricity...
Arabia, could decline this year, a few years ahead of separate forecasts by the Energy Ministry and the Paris-based International Energy Agency. Bearing the grim news, Natural Resources Minister Yuri Trutnev told local reporters that rising cost, and material and labour shortages are causing work delays at oil fields across the country. The government had...
craft a comprehensive energy efficiency policy and investment programme to meet the growing energy demands of an expanding economy and population. ADB is providing a $600,000 grant to fund the preparation of the programme, with Pakistan contributing $100,000 to complete the funding requirement. The activities will include a comprehensive study on the energy efficiency market...
crystalline silicon solar cell with a new record photoelectric conversion efficiency rate of 18.6%. The new conversion rate in the 150-millimeter square practical use cell is an improvement of 0.6% over the company’s previous record. While silicon is an essential component in the wafers used to make solar cells, the supply of silicon has not...
markets as shown by Japan’s quick capitulation to Indonesia’s demand in the latest round of negotiation last week. Japan has agreed to a significant price hike to obtain the four million tonnes of liquefied natural gas (LNG) that Indonesia failed to deliver under a 10-year supply contract due to expire in 2010. Apart from not...
(EnergyAsia, March 31, Monday) — Nasdaq-listed American Superconductor Corporation (AMSC), a leading energy technologies company, said it has received new orders for wind turbine core electrical components and full wind turbine electrical systems from companies in Canada and China. The buyers are now adopting and scaling up manufacturing of wind turbines designed by AMSC’s wholly (more…)
and CEO, John Ellice-Flint, has retired, and will continue to work until June 30 in a consulting capacity. Executive vice president David Knox has been appointed acting CEO until a successor has been found. Santos chairman Stephen Gerlach said Mr Knox’s extensive industry experience and existing senior role within Santos meant he was very well...
(EnergyAsia, March 28, Friday) — Australia’s earnings from commodity exports including oil, natural gas and coals are forecast to increase by 30% to a record A$189 billion in the 2008 financial year starting June 30. (US$1=A$1.05). But over the medium term, the value of those exports (in 2007-08 dollar terms) is projected to fall to (more…)
(EnergyAsia, March 28, Friday) — Singapore-based palm oil producer Wilmar International is optimistic that the Chinese government will eventually grant its request to raise prices for its products including cooking oil. The company said the prices for vegetable oils and food crops have risen sharply on the world markets in recent months, putting pressure on...
(EnergyAsia, March 28, Friday) — With sovereign wealth funds (SWFs) rapidly gaining importance in the international monetary and financial system, the International Monetary Fund (IMF) said it has stepped up its work across a broad range of issues related to these state-owned funds, including their impact on global financial stability and capital flows. The SWFs...
(EnergyAsia, March 28, Friday) — Sri Lankan business leaders fear that the increases in electricity tariffs since March 1 could lead to widespread plant closures and cutbacks. Warning that many small companies were already struggling to stay afloat before the tariff hike, the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) has...
(EnergyAsia, March 28, Friday) — The high cost of natural gas could soon impact China’s economy, with half of Guangdong province’s gas-fired power plants recently forced to stop operations. The power companies have laid the responsibility for their decision on the government for refusing to let them pass on the higher gas cost to customers....
(EnergyAsia, March 28, Friday) — Japan’s Mitsubishi Electric Corporation said it will invest around seven billion yen to expand the production capacity of photovoltaic (PV) cells at its Nakatsugawa Works Iida factory in Nagano prefecture, and modules at its Nakatsugawa Works factory in Kyoto prefecture in response to rising demand for solar power generation systems....
(EnergyAsia, March 28, Friday) — ‘Energy Risk Asia’ will be held at the Sheraton Towers in Singapore from May 13 to 14. With Asia becoming an increasingly important region for energy trading, ‘Energy Risk Asia 2008’ will examine ways to adapt cutting-edge energy risk management models to the latest market developments. The event will feature (more…)
(EnergyAsia, March 28, Friday) — India’s Essar group is keen to bid for a deep-sea port project in West Bengal state to support its flourishing manufacturing industries. The state has attracted several new steel projects, which would require the import and exports volumes of raw materials and finished products from the port, making it an...
(EnergyAsia, March 28, Friday) — Dubai’s private equity company Abraaj Capital said it has bought a 40% stake in the oil refining and chemical subsidiaries of Pakistani energy firm Bosicor. Abraaj said it plans to expand the oil refining and chemical businesses of Bosicor Oil Pakistan Ltd and Bosicor Chemical Pakistan Ltd. Bosicor Oil owns...
(EnergyAsia, March 28, Friday) — China’s Suntech Power said it plans to offer an aggregate of $425 million convertible senior notes due 2013, in a private offering to qualified institutional buyers. The interest rate, conversion price and other terms of the notes will be determined at the time of pricing of the offering. Suntech...
symbolised the oil shocks of the 1970s, consumers have taken a while to register the impact of the quadrupling of oil prices over the last five years. Long distance truckers, who perform a vital role in operating the country’s internal trade supply line, may have sounded out the first significant reaction against rising fuel prices...
funds for expansion of its operations in China’s Liaoning province. The company plans to invest one-billion yuan to invest in 12 tanks to store 1.2 million tonnes of crude oil. (US$1=7.05 yuan). The bulk of the capacity will store crude oil from PetroChina’s Daqing field. The port must also expand to deal with a rise...
Gujarat state at capacity, a few weeks ahead of its original start-up schedule. The Vadinar unit is one of only two private refineries in India. Like Reliance’s 660,000 b/d Jamnagar refinery, also in Gujarat, Essar exports most of its output. Essar plans to invest US$6 billion in the coming years to expand the 10.5-million-tonne per...
finance the build up of its strategic petroleum reserves (SPR). The government is setting up SPR terminals at Visakhapatnam in Andhra Pradesh state, and in Mangalore and Padur near Udipi in Karnataka to store a total of five million tonnes of oil for emergency use. In 2005, the Ministry of Petroleum & Natural Gas had...