(EnergyAsia, March 5, Wednesday) — A US$2 billion liquefied natural gas (LNG) project planned for the Persian Gulf region is being deferred by at least one year due to rising construction costs.The developers, LNG Impel and state Dubai Multi Commodities Centre (DMCC), were to have started construction this year with the first phase operational by...
(EnergyAsia, March 5, Wednesday) — CST 180 high sulphur fuel oil broke through the US$500 per tonne level in Singapore on Monday as world oil prices continue to set new trading highs. Fuel oil is used mostly for power generation and shipping.On Monday, US WTI crude futures rose as high as US$103.95 a barrel in...
(EnergyAsia, March 5, Wednesday) — The World Bank’s IFC said it is helping to create stock market indices that allow investors to assess the environmental, social, and governance performance of companies based in emerging markets.In Brazil and India, these indices provide a valuable tool for sustainable investment, as well as an important incentive for companies...
(EnergyAsia, March 5, Wednesday) — Japan, South Korea and Taiwan are paying record high prices for liquefied natural gas (LNG) supplies, attracting cargoes from producers as far away as Trinidad and Tobago and Nigeria.Qatar will soon be tempted to divert more of their deliveries to markets in the Far East, away from traditional buyers in...
(EnergyAsia, March 5, Wednesday) — Qatar and China signed a memorandum on promoting bilateral energy cooperation on March 2.The agreement was signed in Doha, Qatar by Zhang Xiaoqiang, vice chief of the State Development and Reform Commission of China, and Qatari Deputy Prime Minister and Minister of Energy, Industry, Electricity and Water Abdullah Bin Hamad...
(EnergyAsia, March 5, Wednesday) — Hoku Materials has agreed to supply polysilicon to Japan’s SANYO Electric Co Ltd for 10 years, up from seven years under the previous contract.Sanyo will pay Hoku Materials up to $530 million under the amended 10-year contract, up from approximately $371 million for the seven-year contract.Hoku Materials and SANYO also...
(EnergyAsia, March 5, Wednesday) — Australia’s AGL Energy Limited (AGL) has released half-yearly financial results consistent with its revised full year earnings guidance of underlying net profit after tax (NPAT) of A$330 million to A$360 million. (US$1=A$1.05).NPAT for the half-year was A$182.8 million compared with A$195.6 million for the previous corresponding period. The decrease was...
wafer supply contracts with four suppliers, including China’s Jiangsu Shunda Group Corporation. Starting January 2008, these suppliers will deliver approximately 12 MW of wafers to CSI before the summer of 2008, including 4MW from Shunda. In addition, CSI said it has signed a multi-year supply contract with Shunda, which gives CSI the option of two...
signed an agreement with The Benham Companies LLC to support commercialisation of CCTI’s coal cleaning plants in China. Benham is a wholly-owned subsidiary of Science Applications International Corporation (SAIC). SAIC has supported Clean Coal Technologies and its predecessor companies since 1996 in the advancement of CCTI’s proprietary technology to pre-process coal for removal of up...
million tonnes of liquefied natural gas (LNG) from Qatar by 2011, with an option to raise volumes to two million tonnes. The Thai company is expected to start up a $700 million LNG terminal at Map Tha Put in Rayong province that year. It is also talking to other LNG suppliers. Qatar, the world’s largest...
than tripled its 2007 net profit to a record S$12.2 million on revenue of S$87.3 million. (US$1=S$1.4). This was achieved on the back of strong contributions from the petrochemical and chemicals markets, and improvement in sales in key markets, including China, Middle East, Asia, Europe and US. Advanced said its earnings per share (EPS) soared...
(EnergyAsia, March 4, Tuesday) — More than two dozen Australian experts from the renewable energy industry met in Melbourne last week to debate the issues for clean energy investment in emerging Asian and Pacific economies in advance of this week’s WIREC global summit on clean energy in Washington, DC . Asia was one of three (more…)
(EnergyAsia, March 4, Tuesday) — Four events – Metering Asia Pacific, Billing and CRM/CIS Asia-Pacific, Transmission & Distribution Asia and Energy Efficiency/ ESCO Asia – will be held during ‘Asian Energy Week 2008’ at the Shangri-la Hotel in Kuala Lumpur, Malaysia from May 26 to 29. The event will provide a platform for industry players (more…)
(EnergyAsia, March 4, Tuesday) — Riding on record oil prices and strong growth in exploration and production, Asia’s leading oil and gas exhibition and conference, OSEA2008, which will be held at the Suntec exhibition hall in Singapore from December 2 to 5, is expected to attract over 14,000 industry players. Organised by Singapore Exhibition Services, (more…)
2007 declined 3% to A$200 million compared with the prior corresponding period. (US$1=A$1.05). Gross profit was A$335 million, up 44% over the prior half year, while gross statutory earnings per share rose 32% to A$0.383. The gross profit contains significant items including profit from the sale of businesses and assets, changes in the fair value...
energy company TRUenergy have signed a A$290 million agreement to build what they claim will be the world’s largest and most efficient solar photovoltaic power station in northern Victoria state. (US$1=A$1.05). TRUenergy said it has provided A$40 million to Solar Systems in return for a 20% ownership interest in the project, which kick offs construction...
Group Ltd has incorporated a new subsidiary, Guangzhao Biofuel Pte Ltd, in Cambodia with a registered capital of US$1 million. The new company will be involved in planting crops for the biofuels industry, processing biofuel feedstock, trading, and importaing and exporting agricultural products. Guangzhou Industrial Forest Biotechnology Group has remitted US$808,750 as paid-up capital for...
(EnergyAsia, March 3, Monday) — Singapore-listed Rotary Engineering Limited has announced a record after-tax net profit of S$52.8 million for the full year ended December 31 2007, up 50% from FY2006. (US$1=S$1.4). The group’s turnover hit a new high of S$510.2 million, an increase of 17% over S$437.4 million from the previous year. The (more…)
oil companies, Reliance Industries Ltd and Essar Oil Ltd, for the recent panic buying and shortages in the supply of liquefied petroleum gas (LPG). In a statement explaining the recent situation to Parliament, Minister of State for Petroleum and Natural Gas Dinsha Patel said the two companies reduced LPG production and supply in January, causing...
Guru Gobind Singh Refineries Limited (GGSRL) to provide technology, engineering and procurement services for a deep catalytic cracking (DCC) unit at a grassroots refinery project in India’s Punjab state. The contract’s value was not disclosed. “Shaw’s ability to incorporate DCC technology into the Punjab refinery project will facilitate the most cost-effective and commercially proven option...
climate change fund to help poor countries combat global warming. The fund will finance joint projects and programmes between Japan and developing countries to cut greenhouse gas emissions, improve energy efficiency and provide technical assistance to poorer nations in switching to alternative energy sources. First disbursements from the fund are expected for later this year....
sufficient liquefied natural gas (LNG) from 2010, mainly due to a drastic fall in supplies from Indonesia. The reduced LNG availability is expected to translate into higher domestic gas fees and increased electricity prices. Japan has around 100 power plants that use LNG as fuel. Indonesia supplies well over 22% of all LNG imported by...
profit for 2007 fell by about 7% to US$33.5 million from 2006’s US$36.2 million after deducting exceptional gains for both years. When exceptional gains were taken into consideration, CAO’s net profits fell from US$228.2 million in 2006 to US$168.3 million. Last year’s profit included a net divestment gain of US$134.8 million from the sale...
grow its international oil storage business with planned expansions of its tanks farms on Jurong Island and the UAE, and possibly a new terminal in Panama. Newly appointed chairman and CEO Michael Bandy said the company will “continue the growth momentum started by (founder) Bob Chandran”, who died in a helicopter accident in Indonesia...
signs of letting up as shown by last week’s massive liquefied natural gas (LNG) deal with Taiwan. While all attention has been on China’s buying power in recent years, Taiwan grabbed the headlines when its state oil and gas firm, CPC, has signed a 20-year contract to import between two and three million tons...