(EnergyAsia, March 25, Tuesday) — Singapore’s Swiber Holdings Limited, a service provider to the offshore oil and gas industry, said it has been awarded a conditional Letter of Intent (LOI) from CUEL Limited (CUEL) to instal platforms and pipelines in the Gulf of Thailand for its clients for a period of five years. Swiber said (more…)
expected to grow by 2% to 87.5 million b/d for 2008. This is lower by about 80,000 b/d from its previous forecast, taking into account the negative impact of high oil prices, and an expected slowdown in world economic growth this year. The Paris-based watchdog for oil consuming countries said that downward pressures on demand...
spot liquefied natural gas (LNG) assessment to add to its extensive portfolio of energy pricing benchmarks. The weekly global publication, Heren LNG Markets, began carrying a spot LNG price for cargoes delivered to the Far East starting March 7. The price reflects the traded value delivered ex-ship (d.e.s.) into Japan, South Korea, Taiwan and China....
shutdowns and lower margins caused its 2007 net profit to fall 17.3% to NZ$112.05 million. (US$1=NZ$1.26). Its revenue was down 16.2% to NZ$338.3 million. NZ Refining said it will pay a dividend of NZ35 cents per share. Operating the country’s only oil refinery at Marsden Point near Whangarei, the company is New Zealand’s leading...
to tap the financial clout of sovereign wealth funds (SWFs) to help build a massive liquefied natural gas (LNG) project in Papua New Guinea (PNG). The consortium, which includes Australia’s Santos and PNG’s Oil Search Limited, could be seeking as much as $10 billion in debt funding to pay for construction, financing, interest and operating...
stakes in some oil refining and petrochemical projects in China, India and Vietnam. While it has expressed interest, KPC has also indicated there is no guarantee the talks will lead to a decision to invest. KPC is looking for partners to build integrated oil refining-petrochemical complexes. While confident about the prospects of such projects in...
(EnergyAsia, March 24, Monday) — China International Electric Power & Electric Engineering Technology Exhibition (EPETEE), rebranded to China EPower, will be held at the Intex in Shanghai, China from April 22 to 24. The rebranding effort is aimed at growing the event into an internationally recognised platform for the global power industry. It also celebrates (more…)
(EnergyAsia, March 24, Monday) — The Oxford Princeton Programme will be offering a course on a new risk management tool, ‘Value-at-Risk: The Basics and Beyond’ in London on April 24 and in Singapore on May 22. Value-at-Risk, a new benchmark for measuring and controlling market risk, is used by leading trading and marketing companies around (more…)
double its oil refining capacity to more than 900,000 b/d with the construction of a new 417,000 b/d plant by 2013. The project is still in the planning phase, with the engineering and design phase expected to be ready by a year from now. Its cost is still being studied. Speaking at a recent...
Exchange has designated its petrochemical terminal at Nansha, Guangdong as a physical delivery storage facility for the settlement of fuel oil futures contracts. At the same time Platts, a leading international energy information supplier announced the plan to designate the Group’s 239,783-dwt floating storage unit (FSU), Titan Chios, located in Malaysian waters near Singapore, as...
and Tropicana Trading DMCC have signed an agreement to jointly invest in a US$200 million “world class” oil products storage facility at the Jebel Ali’s Techno Park in Dubai. With an initial 570,000 cubic metres capacity, the facility will store gasoline, gasoil, diesel, jet fuel and fuel oil, as well as offer blending services. Located...
There is no publication today due to a public holiday....
said it has formed a joint venture with its Indian distribution partner to establish a battery assembly and sales operation in Bangalore city. The joint venture has been approved by the Indian government and will be managed by its partner, B. R. Ganesh. The company will assemble Ultralife’s power solutions products and manage local sales...
been rising rapidly, driven by the region’s economic growth but by subsidies that encourage the wasteful use of energy. Oil giant Saudi Arabia has been forced to import refined oil products to meet demand. Its domestic demand surged 15.3% to reach 1.56 million b/d in 2007, according to Washington DC-based consultants PFC Energy. Since 2001,...
cargoes from western markets into the Far East were buyers are prepared to pay higher prices. Analysts estimate Qatar, the world’s largest LNG exporter, could divert as much as 25% of its LNG cargoes from the west to Asia. This could affect volumes of up to 15 tonnes per year by 2015. Spot LNG prices...
(EnergyAsia, March 20, Thursday) — The latest edition of the ‘Handbook of Petroleum Refining Process’ offers detailed description of process chemistry and thermodynamics and product by-product specifications of plants, covers the latest technologies in the field of petroleum refining processes and contributors are drawn from largest petroleum producers in the world, including Chevron, Mobil, Shell, (more…)
(EnergyAsia, March 20, Wednesday) — ‘Seafarers 2008’, an event by IBC Maritime, will be held at the Grand Copthorne Waterfront, Singapore from May 7 to 8. The conference will focus on manning issues with an emphasis on the emerging sources of seafarers. It aims to present insights and strategies that will support operations, capital cost (more…)
(EnergyAsia, March 20, Thursday) — Singapore’s Keppel FELS Limited, the wholly-owned subsidiary of Keppel Offshore & Marine Limited, said it will build a third KFELS B Class jackup drilling rig worth about US$205 million for PetroVietnam Drilling & Well Services Corp’s subsidiary PetroVietnam Drilling Investment Corp. This latest unit and PVD Invest’s second rig PV (more…)
(EnergyAsia, March 20, Thursday) – Singapore’s marine fuel trader Chemoil Energy said it will add 500,000 to 600,000 cubic metres to its new jointly owned Middle East terminal in Fujairah by 2010. When completed, the terminal, a joint venture with Gulf Petroleum Supplies, will have the capacity to store 650,000 cubic metres. Chemoil is using...
joint operating agreement (CDOA) to develop a massive US$10 billion liquefied natural gas (LNG) project in Papua New Guinea. The agreement covers issues related to governance, upstream operations, pipeline arrangements and gas liquefaction. The signatories include operator ExxonMobil (41.6%), Oil Search (34.1%), Santos (17.7%), AGL (3.6%), Nippon Oil (1.8%) and Landowner interests (1.2%). The...
company, Guizhou Puzheng Mining Co Ltd, with state-owned enterprise and integrated coal producer, Jianxi Province Coal Group Company. The new company will engage in the exploration and mining of coal and other mineral resources in Guizhou and other regions in the country. China Natural Resources owns 64% of the shares while Jianxi Province Coal holds...
Agency (WBREDA) said it will be setting up a solar energy park in the Purulia district. It is targeting to attract investments of between Rs6 billion and Rs8 billion over the next two years. The projects, to be built on 120 acres of land, will generate about 30 MW to 40 MW of power. WBREDA’s...
(EnergyAsia, March 19, Wednesday) — Australia’s Origin Energy said it has purchased Woodside Petroleum Limited’s 62.5% interest in the VIC/P37(V) exploration permit off the south west Victorian coast for A$13.6 million. (US$1=A$1.05). The permits contain the Halladale and Black Watch gas and condensate fields, and the acquisition provides Origin with 100% ownership of the permit. (more…)
(EnergyAsia, March 19, Wednesday) — India’s petrochemical producers will favour buying naphtha from domestic oil refiners after the government imposed a new 5% import tax on the product from last month. The refiners are also expected to reduce their naphtha exports. For the fiscal year ended 31 March 2007, India’s naphtha exports soared 60% to...
(EnergyAsia, March 19, Wednesday) — Saudi Arabia’s state energy company Aramco is selling its 40% in the Philippines’ largest oil refiner, Petron Corp, to the London-based Ashmore investment group for 22.5 billion billion peso. (US$1=41 peso). At a time of world oil supply uncertainties and record prices, the sale is seen as a blow to...