(Pitco) aims to raise $40 million through an initial public offering on the local bourse. The stock is expected to begin trading on the Ho Chi Minh Stock Exchange next week. The company raised varying amounts when it sold off a total of 14.15% of its shares to the public in June 2006 and April...
(EnergyAsia, January 17, Thursday) — “Subsea Asia 2008” will focus on the technology offerings and needs of oil companies in the offshore exploration and production markets in Asia. The event to be held at the Kuala Lumpur Convention Centre in Malaysia from June 11 to 13 will focus on the companies’ business, skill and technology...
(EnergyAsia, January 16, Wednesday) — Singapore’s bunker fuel sales broke the 30-million-tonne ceiling for the first time last year, said the Maritime and Port Authority of Singapore (MPA). On the back of strong trade and economic growth in the region, Singapore’s bunker sales surged 11.2% to 31.5 million tonnes.This was not the only record set...
(EnergyAsia, January 16, Wednesday) — Euro Petroleum Consultants will be holding three energy technology events at the Westin Hotel in Kuala Lumpur in Malaysia from May 12 to 16.The first conference, Asia Alternative Fuels Technology (AFTC), will be held on May 12 prior to the Asia Bottom of the Barrel Technology conference (Asia BBTC). Industry...
(EnergyAsia, January 16, Wednesday) — Finland’s Neste Oil has reiterated its decision to invest 550 million euro in building a 800,000-ton-per-year biodiesel plant in Singapore. The company said the plant will use “renewable feedstocks” as part of its strategic goal of becoming the world’s leading renewable diesel producer.The use of biofuels such as NExBTL is...
(EnergyAsia, January 16, Wednesday) — Indonesia’s state oil company Pertamina has linked up with Japan’s Mitsui & Co to build a 60,000 b/d residue fluid catalytic-cracking (RFCC) unit with at the Cilacap refinery in central Java.Mitsui will own an 80% stake in the US$1.5 billion project with Pertamina taking the remaining 20%.The bulk of the...
(EnergyAsia, January 16, Wednesday) — India’s Hindustan Petroleum Corp Ltd (HPCL) and French energy major Total have started up their equal joint-venture 60,000-tonne liquefied petroleum gas (LPG) underground cavern storage project in the port city of Visakhapatnam of Andhra Pradesh state.The Rs3.33 billion-facility can accommodate gas carriers with a capacity of 40,000 tonnes. (US$1=Rs39).The underground...
(EnergyAsia, January 16, Wednesday) — CIBC World Markets have predicted US crude futures to rise to $150 a barrel within five years on world supply constraints. Crude broke through the $100-barrel ceiling on the first trading day of 2008, and has traded mostly above $90 since last November.In a new energy report, CIBC World Markets...
(EnergyAsia, January 16, Wednesday) — The US government has firmly ruled out using its strategic petroleum reserves (SPR) to help dampen rising oil prices.The US insists the SPR would only be used in a true emergency.US oil futures surged past the psychological $100-barrel level on the first trading day of 2008, but the White House...
(EnergyAsia, January 16, Wednesday) — Bowing to pressure, the Indonesian government has decided not to go ahead with plans to restrict sale of subsidised gasoline to private car owners.Announced late last year, the scheme would have restricted the supply of subsidised gasoline only to public transportation vehicles and motorcycles. The government is under growing pressure...
(EnergyAsia, January 16, Wednesday) — An emergency fuel storage facility being built outside China’s Shanghai city will cost more than 520 million yuan to build, almost double the original estimates.Officials at the Shanghai Chemical Industry Park (SCIP) said the 200,000-cubic-metre project is expected to start up in 2009. Located 50 km southwest of Shanghai, the facility...
(EnergyAsia, January 16, Wednesday) — Australia’s Arrow Energy Ltd said its subsidiary, Arrow Global CBM Ltd, has signed a major production sharing contract (PSC) with PetroVietnam for a ‘highly prospective’ coal seam gas (CSG) tenement area in Vietnam.Known as the Hanoi Trough (MVHN-01KT) onshore PSC, the area will make available to Arrow the prospects to...
is proposing that the government build more hydropower projects. According to EGAT, Thailand has the potential to add another 4,000 megawatts (MW) of hydro-electricity capacity. The state firm has identified sites for new hydro-power projects on the Pai River in Mae Hong Son, at Sai Buri in Narathiwat, on the Kaeng Krung River in Surat...
(EnergyAsia, January 15, Tuesday) — Switzerland’s Oerlikon Solar has announced plans to build a new plant in Singapore and boosting its presence and proximity to customers in Asia. The company said it will continue to expand production, development and support for its leading thin-film silicon solar energy solutions. The Singapore plant will initially employ approximately...
33.5% of Jiangxi Sinoma New Material Co Ltd, a Xinyu-based crucible manufacturer, from Xinyu Chengdong Investment and Construction Co Ltd for approximately RMB 17 million. (US$1=RMB7.25). Founded last May, Sinoma completed construction of its plant to manufacture crucibles five months later. The company started test production in November and began shipping finished products to its...
capacities, one of the world’s fastest-growing alternative energy sources, said the Washington DC-based Earth Policy Institute. Worldwide production of photovoltaics (PV) cells is expected to double every two years from last year’s 3,800 MW output which was up 50% from 2006. China alone tripled its photovoltaic production in 2006 and more than doubled it in 2007,...
Three Gorges hydro-power project – the world’s largest – by next year. All 12 turbines on the right bank of the project on the Yangtze River will be installed and started up by December, with the full project to be completed by 2009. The concrete placement of the 2,309-metre-long and 185-meter-high main dam was completed...
participation in hydroelectric projects. The decision to enhance the role of private companies in hydroelectricity generation was confirmed at a Cabinet meeting early this month chaired by Prime Minister Manmohan Singh. The water-rich parts of India’s north-eastern region and the Himalayas are expected to be the main beneficiaries. Several northern states are also increasingly affected...
project that will boost the integration of small solar energy producers into the national power grid. The move is aimed at attracting investment into the solar energy sector. The scheme, initially capped at a total installed capacity of 50 megawatts, would grant project developers of grid-interactive units fixed rates for their power over 10 years....
megawatt (MW) wind power projects in Punjab state at an estimated cost of Rs5 billion each. (US$1=Rs39). The company said its subsidiary, Suzlon Gujarat Wind Park Ltd, recently signed a memorandum of understanding with the state government to build the projects in the districts of Hoshiarpur and Muktsar. Suzlon said it plans to erect wind...
country’s energy needs from renewable sources is very risky and could bring on supply shortages and high prices, a leading industry figure has warned. The country would be exposed to supply shortages if it attempted to cut back too sharply on conventional energy use, said Roy Hemmingway, a former chairman of New Zealand’s electricity commission....
polysilicon, an essential raw material to make solar cells. According to Steve Chen, Minister of Economic Affairs, the companies could churn out polysilicon worth NT$430 billion by 2015 if all projects are realised. (US$1=NT$32). As a short-term target, they are aiming to produce NT$150 billion by 2010. One of the likely investors is Renewable Energy...
(EnergyAsia, January 14, Monday) — Germany’s EPURON GmbH and Australia’s Macquarie Capital have signed a joint venture agreement to develop, finance and build a 1,000 MW wind farm in Silverton in New South Wales state.The country’s biggest wind farm will have the potential to supply up to 4.5% of the state’s energy need or more...
(EnergyAsia, December 14, Monday) — Malaysia will be hosting the 16th POWER-GEN Asia, which will be held at KLCC in Kuala Lumpur from October 21 to 23.Malaysia expects to achieve 95.1% rural electrification by 2010, helping overall demand grow by 7.8 per year to 20,087MW. The Ministry for Energy, Water & Communications is undertaking a...
(EnergyAsia, January 14, Monday) — Japanese venture capital firm Quatum Leaps Corporation said it has agreed to invest in a local small wind turbine manufacturer, Zephyr Corporation, to help expand its operations to become a global player. Quatum is headed by Nobuyuki Idei, the former chairman and Group CEO at electronics giant Sony Inc.Zephyr’s president...