(EnergyAsia, March 19, Wednesday) — The renewables bandwagon is becoming a runaway train, thanks to the full-scale global panic over continuously rising oil, gas and coal prices. The open market prices of the three fossil fuels, the source of 85% of the world’s energy needs, has been on a relentless climb in recent months, driven (more…)
(EnergyAsia, March 19, Wednesday) — India’s demand for liquefied petroleum gas (LPG) is projected to hit 11 million tonnes this year, up from 10.2 million tonnes in 2007. The product is sold at a subsidised price of Rs21 per kg for domestic users while industry has to pay Rs58 per kg (US$1=Rs40). This price difference...
(EnergyAsia, March 19, Wednesday) — India’s state Oil Industry Development Board (OIDB) will underwrite the entire cost of building the strategic storage of crude oil, said the Ministry of Petroleum and Natural Gas. In response to rising world oil prices, the Indian government announced its decision in September 2005 to establish the country’s first strategic...
(EnergyAsia, March 19, Wednesay) — Westport Innovations Inc, leading developer of gaseous-fuelled power technologies, said it has received certification from the Australian Department of Infrastructure, Transport, Regional Development for its high pressure direct injection (HPDI) liquefied natural gas (LNG) fuel system adapted to the 2008 Cummins ISX heavy-duty engine to the 2008 Australian Design Rules (more…)
(EnergyAsia, March 19, Wednesday) — As oil and gas prices stayed near record high levels, the newly elected South Korean government said it has cut fuel taxes by 10% to help keep the economy from stagnating. The tax cut will be effective from this month. The administration of recently elected President Lee Myung-bak also granted...
(EnergyAsia, March 19, Wednesday) — India, China and Brazil must intensify efforts to improve energy efficiency to avoid further explosive growth in their energy demand and greenhouse gas emissions over the next few years, said the World Bank. The bank reckons that the three countries alone will account for well over 40% of growth in...
(EnergyAsia, March 19, Wednesday) — US major Chevron Corporation said its subsidiary, Chevron Australia Pty Ltd, plans to develop a new liquefied natural gas (LNG) project, based on its 100%-owned Wheatstone natural gas discovery in Australia. Located on the northwest coast of mainland Australia, the facility will initially include at least one five-million-ton-per-year LNG production...
security, Taiwanese lawmakers are looking into legislation to end CPC’s monopoly on importing liquefied natural gas (LNG). Taiwan is one of Asia’s third-biggest liquefied natural gas (LNG) buyers after Japan and South Korea. The new legislation would allow LNG customers such as Taiwan Power to lease terminal capacity from state-controlled CPC. Taiwan Power could...
emerging markets, said it is providing political risk insurance for a hydroelectric power plant in Sri Lanka. This project was developed in cooperation with the Overseas Private Investment Corporation (OPIC), which will provide financing and reinsurance for the plant. Zurich is providing political risk coverage to the US sponsor of the five-megawatt hydropower plant on...
(EnergyAsia, March 18, Tuesday) — China is the single largest provider of small arms to Sudan, having sold over $55 million worth from 2003-2006 (the latest year for which data is available), as the worst violence took hold in Darfur, said a new human rights report. While other countries were decreasing their arms sales to (more…)
million grant for environmentalists to work with Brunei, Indonesia, Malaysia and the Philippines to draw up a plan to protect the region’s seas and rainforests which are being damaged at an alarming rate. The region is home to the Coral Triangle, which has the highest marine biodiversity in the world, as well as the Heart...
installed nuclear power capacity by 30% to just over nine million kilowatts (KW) last year. The country has a total of 11 nuclear reactors generation almost 63 billion KW in 2007, up 14.6% from 2006. However, nuclear energy accounts for only just under 2% of the country’s total energy capacity. Beijing aims to increase...
government of Shandong province to help restructure and upgrade a number of the province’s local private refineries. The move comes as CNOOC is seeking to further expand its downstream refining business to help meet the country’s soaring oil demand growth. In return, CNOOC and other state oil companies are lobbying Beijing to lift its prices...
has come under fire from villagers who claim that they have not been adequately compensated for having been displaced. IOC acquired 3,300 acres of land for the project some seven years ago and insists it compensated affected villagers. About 1,800 families have lost land and homes to make way for the project. The 15-million-metric-tonne-per-year...
Rs85 billion for FY2008 and Rs100 billion for FY2009, compared with just Rs45 billion for the current fiscal year ending March 2008. (US$1=Rs40). The increased expenditures will come in addition to any major acquisitions the company might make. IOC is working to build major refining and petrochemicals projects in Panipat, Koyali and Paradip. It...
analysts who think world oil production may not exceed 100 million b/d. Last year, the CEOs of France’s Total and US integrated oil firm ConocoPhillip broke ranks with the industry by openly doubting that world oil production would reach that psychologically important figure. ExxonMobil and the US government believe production would reach 115 to...
it plans to invest in a liquefied natural gas (LNG) project in Australia if an opportunity comes up. CPC is looking to Australia for reliable long-term LNG supplies to meet Taiwan’s growing demand pegged at 7% per year. CPC’s investment would include both upstream and downstream operations in Australia, the company said. In January, the...
ratify a regional agreement among Southeast Asian governments to stamp out trans-boundary pollution and smog from land clearance. Indonesia’s Parliament last Thursday (March 13) unanimously refused to endorse a bill that would have helped ratify the agreement among the 10-member Association of Southeast Asian Nation (ASEAN) governments. As a signatory, Indonesia would have committed to...
(EnergyAsia, March 17, Monday) — US major Chevron Corp said it and its partners will invest about US$3.1 billion to construct the shallow water Platong Gas II natural gas project in the Gulf of Thailand. Due to start up in the first quarter 2011, Platong Gas II, located 200 km offshore, is designed to add (more…)
(EnergyAsia, March 17, Monday) — ‘Fundamentals of Energy Futures’, a workshop offered by the Oxford Princeton Programme, will be held in London on April 7 and Singapore on April 14. This introductory course on energy futures, contracts and markets is a highly interactive workshop which includes a trading simulation and a comprehensive review of the (more…)
(EnergyAsia, March 17, Monday) — Petroleum Economists, one of the world’s most recognised energy publishing brands, has released three books: Fundamentals of Carbon Capture & Storage Technology, Fundamentals of the Global LNG Industry 2007 and Fundamentals of the Global Oil and Gas Industry 2007. Fundamentals of Carbon Capture & Storage Technology Carbon capture and storage (more…)
services, announced that it has completely taken over Niigata Worthington in Kawasaki in Kanagawa prefecture, Japan after acquiring the remaining 50% stake it did not own. Niigata Worthington, a premier manufacturer of certain Flowserve pumps and other rotating equipment, reported sales of approximately $64 million in 2007. Flowserve recorded approximately $2 million for its 50%...
Alimaong in the Philippines to jointly develop more than 1.2 million acres of ancestral land for the cultivation of the jatropha crop to produce biodiesel. The tribe will grow the crop on its under-used lands on the island of Mindanao. Rene Q. Lacsina, president of Abundant Biofuels Philippines Inc, said the venture is a...
runs out. Abu Dhabi National Oil Company (ADNOC), which is leading those efforts, said it is committed to building a sustainable economy and the protection of the environment. The company is taking a 60% stake in new ventures that focus on renewable energy. ADNOC chief executive Yousef Omair bin Yousef said: “We must take the...
production at three new natural gas fields in the Gulf of Thailand. New supplies from the Arthit, Arthit North and Block A18 fields will add 28 million cubic metres per day to production. The new gas is desperately needed to meet Thailand’s growing domestic demand, projected to increase 10% per year through 2012. High international...